Rahul and Kabir built an INR 180crore food business
In the past ten years Azure Hospitality shut down only one out of forty five restaurants they own
It is possible to avoid slowdown and build a profitable and sustainable food business. Azure Hospitality started amidst the last slowdown in 2009. In the past ten years it has grown to an annual revenue of INR 180crore. They shut down only one or two restaurants.
Rahul Khanna and Kabir Suri started their first restaurant Mamagoto in Khan Market. After Mamagoto they opened quick service brands such as Speedy Chow and Roll Mall. They also opened boutique brands such as Sly Sammy and Foxtrot. The holding company Azure Hopsitality operates forty five restaurants and employs about 2400 people. Its annual turnover was INR 180crore.
Rahul’s advice to upcoming entrepreneurs is: Know the difference between perception and reality. don’t get fooled by the false glamour attached to this industry. This is serious, never-ending, hard work with a strong dose of people management and cannot be done sitting in an air-conditioned room. Know what it feels like to work 18-hour shifts, to wash dishes, to work on new years’ eve to understand the depths of empathy you will need to succeed. Learn quickly how to balance practicality with creativity and never compromise.
Both suggest that knowing the market and neighbourhood is more important than data analytics. Taking care of the staff is the key for the restaurants to succeed. They offer health insurance and training to retain the staff. Cash flow is also the key, as in the beginning of the month there are payments to be made for salaries and vendors. They suggest that one should be aware and trust the gut feeling.
