We would like to introduce ourselves as a highly aspiring team comprising of 3 Partners, VRaj, Mahesh and Prasad. To share with you, We three of us are from different professional backgrounds i.e Pharma, Advertising & Telecom..Having worked for a longtime , we were very passionate about starting a business of our own which could definitely be an ideal way to explore our talents, potential with an added advantage of being localites. We did decide to join hands together to form a new venture of a Vegetarian Restaurant in Bengaluru in November, 2017
As Quality Food is always in high demand and being a booming industry, we chose the Food business, with a dream and passion to offer Authentic, Quality food service to the customers. Unlike being 1/10 hoteliers, Our Intent was to provide unique food with a blend of North-South Indian-Chinese-Chats range of menu.
We pooled in all the possible resources in terms of our Investment towards the project. All our hard earned savings, gold loans, hand loans were part of our investments towards the project.
After a thorough survey and basic ground work, we finalized a commercial place which was highly potential for food industry in the heart of the city, i.e malleshwaram locality. This area is known as a traditional hub of bengaluru with a huge demand for authentic south Indian homely food. As the place also has good number of Educational Institutions and many commercial setups around; there has been a very good demand for Chinese Food and Chats range of eateries. As we had hired a right set of chefs in the backend (kitchen), we were pretty confident of offering Quality Food and Service to the customers.
Due to certain challenges in the Capital Front, we approached couple of banks for Business Loan. After a lot of running around and follow ups, we got a term loan approved from Indian Overseas Bank to the tune of 15Lacs. This really helped us in terms of completing all the necessary Civil Works, Purchase of Plant & Machinery, Necessary Infrastructure. . Our commercial operations Kickstarted on 20th June, 2018.
We named it Rajaratna Cafe Bengaluru (RCB). Our Hospitality with customers was the trump card as our motto to serve quality, authentic and tasty food to customers for both service and self-service segment. This approach of ours helped us to get repeated cutsomers and new customers as well.
We hired 1 Supervisor (partially handicapped), 1 Cashier (Aged with ailing mother at home), 2 Support staffs whose family is entirely dependents on their earnings...This was what we thought could make a difference to such people, impacting their livelihood wherein getting jobs for them elsewhere is very very challenging. This was part of Our motto towards societal contribution.
We had a very good start with an average business at around 8k per day. While business was growing with a positive growth trend of 5-10% week-on-week we even reached our weekend business upto 14k per day.
This trend continued for about 1 month until we came across a disaster (really dont know what to call?) which hit our business like a tsunami.
A major sewage-road repair work was carried out by local corporation authorities in our street for almost 2 months (right opp to our food joint) hampered our day-to-day business operations. This led to a serious downfall. Business came down by almost 80%. This repair work hampered us in a very big way as we had just launched the business and started to settle down. This not only hampered us but also to each and every commercial shop/neighbours in our street, who have been staying there for many years. The entire stretch of the road was blocked for about 2 months. We did escalate the matter to the concerned authorities for immediate action. Also, we have written about this to the Prime Minister’s office and Chief Minister’s office as well. The entire business journey of ours has been shared for a favorable support / response and is awaited.
During this period, due to the downfall in the business, we lost our business majorly our regular customers such as corporates, students and localites. During this phase, most of the Staffs quit us, severe upside-down in terms of our vendor payments & commitments; all these really brought us to a stand still.
We have availed business loan from Indian Overseas Bank (IOB) and apart from this, we have invested about 13 lacs towards Shop Rental deposit, Shop Rent, Salaries, Staff Accomodation, Vendor Payouts, Hand loan interests, Gold loan etc etc. So our total liability as on date stands at 28 Lacs towards the business.
In spite of these challenges, we did manage the business for another 3 months (Sep, Oct, Nov ‘18) through means of hand loans with high interest rates, to see whether we can do a miracle.
As things didn’t materials in our favor, we approached our landlord in terms of working outa possibility to oursource our setup else for a onetime sale with good will to recover our investment / losses to the best possible way. The response from the landlord was negative. Now, we reached such a stage in life that without financial support we shall not be able to move an inch forward.
Going with our financial crunch position, it was next to impossible for us to revamp the setup and do any kind further changes. So we decided to shut down the operations in Jan’19.
But we still stand by our passion, commitment and dream to continue the business further provided we get a kind of Financial support from all the corners. This will definitely help us to come out with a new setup which give us an opportunity to settle our current commitments and make a way for our livelihood.
We are a registered Partnership Firm with GST (Composite) structure and hold a valid Corporation license.
Bank: Indian overseas bank
Acct no: 001202000007134
Location: Bengaluru, India