FROM 150 Rs Labour to 1000 Crore Company Owner ( DOSE KING)
Born in Tamil Nadu, Prem had to give up on his studies to earn for his parents and seven siblings. He headed to Chennai from his village to earn better. But when he landed a job with a #salary of just Rs 250 a month, he decided to quit & go back home.
• An acquaintance robbed him:
While Prem kept looking for opportunities, he decided to move to Mumbai at the age of 17. His decision came in the backdrop of one of his acquaintances promising to help him earn Rs 1200 a month.
Instead of helping out with a job, the acquaintance rather #robbed Prem, leaving him behind with just Rs 200.
Prem faced a tough time & didn't tell his parents about the incident as he wanted to stay back in Mumbai to make a mark.
After trying at multiple places, Prem secured a job at a local bakery in Mumbai. He washed dishes there to earn a salary of Rs 150 for a month.
Prem preferred to stick to the job as he didn’t have to pay rent for a space as he could sleep in the bakery itself.
• Starting a business with an investment of Rs 1000:
After multiple jobs in various restaurants in Mumbai, he decided to start his own #business of selling dosa and idli on a handcart with some savings in 1992.
He invested Rs 1,000 for buying utensils, stove and other materials along with Rs 150 for renting handcarts. He set up his little shop on the street opposite the Vashi train station in Mumbai.
Fortunately, he succeeded in this business as people loved the south Indian food he served. In the same year of starting up, he earned a #profit of Rs 20,000 every month.
• From sleeping in the bakery to having a rented space:
With a good cash flow from the business, he bought a rented apartment which he used for the preparation of masala and ingredients.
• Success has its own set of challenges:
When everything was going well, Prem faced serious #trouble wrt the licensing of handcart food stall. His cart was seized several times by the municipal corporation for which he used to pay heavy fines & get the cart back .
• An entrepreneur knowing how to mitigate risks & take a leap:
He ended the license trouble by opening his own restaurant in 1997 by the name, 'Prem Sagar Dosa Plaza'. He proudly paid a monthly rent of Rs 5000 with a one time deposit of Rs 50,000.
Prem expanded the business with their first #franchise outlet in Thane, in 2003. As the business grew, they even started supplying the dosa batter.
Today, Prem's Dosa Plaza has expanded internationally with outlets in Dubai, New Zealand, Muscat including in India with 43 outlets in 11 states.
From absolutely nothing to creating a business like this takes extreme focus, practicality & a 'never give up' attitude. Agree?
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