Meet Venkatesh Iyer, The Banker Who Started The Popular Food Chain Goli Vada Pav – News18

It is relatively easy to carve a enterprise enterprise, whereas engaged on a traditional concept within the company world. It, nevertheless, requires confidence and persistence to develop your small business on an unconventional path. This is what funding banker Venkatesh Iyer did. He was into finance, however he shifted to the meals enterprise. He is the founding father of the favored meals chain Goli Vada Pav. Venkatesh Iyer began his enterprise in 2004. Today, Goli Vada Pav has 350 retailers and is a matter of case research as properly in Harvard Business School to Indian School of Business, Hyderabad. The retailers of Goli Vada Pav exist in 20 states and its whole annual turnover is greater than Rs 55 crore.

A significant spotlight of the Goli Vada Pav retailers is that the corporate recruits individuals who stop faculty after finishing class 10 and even earlier than that. This is as a result of Venkatesh Iyer wished to assist individuals coming from poor financial backgrounds.

There is an attention-grabbing anecdote behind how Venkatesh selected the phrase Goli for his enterprise enterprise. He defined the explanation behind this in an interview with a portal. Venkatesh recalled that when he used to speak to somebody in regards to the Vada Pav store, individuals used to say, “Kya Goli De Raha Hai?” (What Goli are you giving?)”. He mentioned that the phrase Goli, which suggests pretend, is part of the extensively spoken frequent colloquial language in Mumbai. It was from right here that he acquired the concept to make use of the phrase Goli for his store’s title. Venkatesh began his first outlet for Goli Vada Pav in Thane in 2004.

Venkatesh can be contributing in the direction of the schooling of kids who’re from impoverished backgrounds and are unable to pursue schooling at colleges. Three E has been prominently included within the core agenda of the corporate. This means schooling, employment, and entrepreneurship. Venkatesh says that he’s deeply influenced by Infosys co-founder, NR Narayana Murthy.

In an earlier interview with The Hindu, Venkatesh mentioned, “Though I was born and brought up in the Maximum City, I never really paid attention to the poor man selling Vadapav by the roadside. But for the first time, I started to observe keenly and was fascinated by the fact that 50 vadas bobbed out of the big kadai in five minutes.” It was at that second that Venkatesh determined to re-bundle the vada pav right into a branded product.