Admin
November 14th, 2008, 09:41 PM
The Rags to Riches tale of Sarath Babu Part - II
Foodking Catering Services Pvt Ltd
My mother is my first inspiration to start a food business. Remember I started my life selling idlis in my slum. Then of course, my experience as the mess secretary at IIM-A was the second inspiration. I must have handled at least a thousand complaints and a thousand suggestions at that time. Every time I solved a problem, they thanked me.
I also felt there is a good opportunity in the food business. If you notice, a lot of people who work in the food business come from the weaker sections of the society.
My friends helped me with registering the company with a capital of Rs 100,000. Because of the IIM brand and also because of the media attention, I could take a loan from the bank without any problem.
I set up an office and employed three persons. The first order was from a software company in Ahmedabad. They wanted us to supply tea, coffee and snacks. We transported the items in an auto.
When I got the order from IIM, Ahmedabad, I took a loan of Rs 11 lakhs (Rs 1.1 million) and started a kitchen. So, my initial capital was Rs 11.75 lakhs (Rs 1.17 million).
Three months have passed, and now we have forty employees and four clients — IIM Ahmedabad, Darpana Academy, Gujarat Energy Research Management Institute and System Plus.
In the first month of our operation, we earned around Rs 35,000. Now, the turnover is around Rs 250,000. The Chennai operations will start in another three months’ time.
Ambition
I want to employ as many people as I can, and improve their quality of life. In the first year, I want to employ around 200-500 people. In the next five years, I hope to increase it by 15,000. I am sure it is possible.
I want to cover all the major cities in India, and later, I want to go around the world too.
I have seen people from all walks of life — from the slums to the elite in the country. That is why luxuries like a car or a bungalow do not matter to me. Even money doesn’t matter to me. I feel bad if I have to have food in a five star hotel. I feel guilty.
Personally, I have no ambition but I want to give a house and a car to my mother.
Appreciation
I did not expect this kind of exposure by the media for my venture or appreciation from people like my director at the IIM or Narayana Murthy. I was just doing what I wanted to do. But the exposure really helped me get orders, finance, everything.
The best compliments I received were from Narayana Murthy and my director at IIM, Ahmedabad. When I told him (IIM-A director) about my decision to start a company, he hugged me and wished me luck. They have seen life, they have seen thousands and thousands of students and if they say it is a good decision, I am sure it is a good decision.
Reservation
Reservation should be a mix of all criteria. If you take a caste that comes under reservation, 80 per cent of the people will be poor and 20 per cent rich, the creamy layer. For the general category, it will be the other way around.
I feel equal weightage should be given for the economic background. A study has to be done on what is the purpose of reservation and what it has done to the needy. It should be more effective and efficient. In my case, I would not have demanded for reservation. I accepted it because the society felt I belonged to the deprived class and needed a helping hand.
Today, the opportunities are grabbed by a few. They should be ashamed of their ability if they avail reservation even after becoming an IAS officer or something like that. They are putting a burden on the society and denying a chance to the really needy.
I feel reservation is enough for one generation. For example, if the child’s father is educated, he will be able to guide the child properly.
Take my case, I didn’t have any system that would make me aware of the IITs and the IIMs. But I will be able to guide my children properly because I am well educated. I got the benefits of reservation but I will never avail of it for my children. I cannot even think of demanding reservation for the next generation.
Foodking Catering Services Pvt Ltd
My mother is my first inspiration to start a food business. Remember I started my life selling idlis in my slum. Then of course, my experience as the mess secretary at IIM-A was the second inspiration. I must have handled at least a thousand complaints and a thousand suggestions at that time. Every time I solved a problem, they thanked me.
I also felt there is a good opportunity in the food business. If you notice, a lot of people who work in the food business come from the weaker sections of the society.
My friends helped me with registering the company with a capital of Rs 100,000. Because of the IIM brand and also because of the media attention, I could take a loan from the bank without any problem.
I set up an office and employed three persons. The first order was from a software company in Ahmedabad. They wanted us to supply tea, coffee and snacks. We transported the items in an auto.
When I got the order from IIM, Ahmedabad, I took a loan of Rs 11 lakhs (Rs 1.1 million) and started a kitchen. So, my initial capital was Rs 11.75 lakhs (Rs 1.17 million).
Three months have passed, and now we have forty employees and four clients — IIM Ahmedabad, Darpana Academy, Gujarat Energy Research Management Institute and System Plus.
In the first month of our operation, we earned around Rs 35,000. Now, the turnover is around Rs 250,000. The Chennai operations will start in another three months’ time.
Ambition
I want to employ as many people as I can, and improve their quality of life. In the first year, I want to employ around 200-500 people. In the next five years, I hope to increase it by 15,000. I am sure it is possible.
I want to cover all the major cities in India, and later, I want to go around the world too.
I have seen people from all walks of life — from the slums to the elite in the country. That is why luxuries like a car or a bungalow do not matter to me. Even money doesn’t matter to me. I feel bad if I have to have food in a five star hotel. I feel guilty.
Personally, I have no ambition but I want to give a house and a car to my mother.
Appreciation
I did not expect this kind of exposure by the media for my venture or appreciation from people like my director at the IIM or Narayana Murthy. I was just doing what I wanted to do. But the exposure really helped me get orders, finance, everything.
The best compliments I received were from Narayana Murthy and my director at IIM, Ahmedabad. When I told him (IIM-A director) about my decision to start a company, he hugged me and wished me luck. They have seen life, they have seen thousands and thousands of students and if they say it is a good decision, I am sure it is a good decision.
Reservation
Reservation should be a mix of all criteria. If you take a caste that comes under reservation, 80 per cent of the people will be poor and 20 per cent rich, the creamy layer. For the general category, it will be the other way around.
I feel equal weightage should be given for the economic background. A study has to be done on what is the purpose of reservation and what it has done to the needy. It should be more effective and efficient. In my case, I would not have demanded for reservation. I accepted it because the society felt I belonged to the deprived class and needed a helping hand.
Today, the opportunities are grabbed by a few. They should be ashamed of their ability if they avail reservation even after becoming an IAS officer or something like that. They are putting a burden on the society and denying a chance to the really needy.
I feel reservation is enough for one generation. For example, if the child’s father is educated, he will be able to guide the child properly.
Take my case, I didn’t have any system that would make me aware of the IITs and the IIMs. But I will be able to guide my children properly because I am well educated. I got the benefits of reservation but I will never avail of it for my children. I cannot even think of demanding reservation for the next generation.