Archive for March, 2011

Venture: Malaka Spice, Pune

Promoters: Praful & Cheeru Chandawarkar

This case study is devoted to the spirit of enterprise which drives people to take the road less travelled.  It is about finding yourself, zeroing in on what you truly want and going after it with conviction.  The lessons and learning are outlined in bold.  Happy reading…

Life holds some interesting opportunities; your journey could be dotted with a number of U-turns.  The question is would you take that turn?

What happens when a banker is bitten by the food bug?  He turns restaurateur…at least that is what Praful Chandawarkar did. 

Forays in to uncharted territory call for guts and gumption.  Doing something that’s entirely new is all about the willingness to experiment and at times to fail…

A former banker, Praful and his wife Cheeru, executive chef at the restaurant gave Pune its first restaurant serving authentic South East Asian cuisine when Malaka Spiceopened its doors to Puneities in 1997. 

An eye for detail and quest for quality will take you to the top…

Located at Lane No. 5, opp. Oxford Properties, Koregaon Park, Pune, their elaborate menu gives patrons the opportunity to sample delicious fare from Malaysia, Singapore, Thailand, Vietnam, Cambodia, Burma and Indonesia.  At Malaka Spice dining is an experience in more ways than one as the Chandawarkar’s believe that a good meal is complete only when it satisfies the senses of taste, aroma, texture and color and that is exactly what they serve at the restaurant.

Be the Maverick; don’t go with the crowd…

Praful and Cheeru have revolutionized the concept of food and dining by marrying art and cuisine at Malaka Spice.  They provide budding contemporary artists in the city with the opportunity to exhibit their works.  Caricaturist Prashant Sinha will do a caricature while patrons enjoy the food. They also have a merchandise store where one can pick up Malaka Spice Souvenirs, hand crafted by their artisans.

Malaka Spice is divided into 3 sections:

1)ArtMalaka:

Art Malaka, an art gallery where one can find incredible bargains in art.  Art Malaka has featured over 200 artists over the last 14 years.

 2) Malaka Classic, dedicated to the roadside cafe that Malaka Spice started out as this is an al fresco dining opportunity.  Its popularity can be gauged from the number of South Mumbai foodies who specially drive down to Pune on weekends to dine at Malaka Classic. Celebrities from the arena of sports, media and movies are a common sight here.

3) Street Malaka.

Opposites attract so marry extremes to make your mark and work hard while you do it…

The unique selling proposition of Malaka Spice is authentic Thai cuisine and apart from their forays in to promotion of art  and Pratapgad Warriors (Cricket-MPL Team), Prafaul has also established another popular restaurant called Post 91 in Koregaon Park. 

Known for its excellent food, good ambience, a live band playing and the very popular quiz “Booze and Brains” by Mark Rego, the restaurant draws people from all walks of like.  The Karaoke night,Mojo Festival, Boxing Day and Christmas lunch are some festive promotions and events organized by them. 

The personal touch counts…

The husband-wife duo of Praful and Cheeru is at the helm of affairs at the restaurant.  Ms. Cheeru Chandawarkar is the Executive Chef in this hotel. Praful, a former banker and self-confessed foodie was intrigued by the prospect of bringing Thai cuisine to Pune.  He has a rich experience of seventeen years in business and is a very fun loving person. 

He is also an astute businessman who does not compromise on discipline and is quite a strict leader.  He seeks the opinion of many people before doing anything and gives time to all his employees. He is known to be a kind hearted and generous person who shares a specific part of the sales with all his employees. Praful and his wife Cheeru have been the driving force behind establishment of this venture.                         

Customer satisfaction is important…

They have a system wherein they ask customers to give written feedback about every aspect of their venture. 

Create Visibility…

The use of SMS advertising, websites and Facebook promotions are some tech savvy ventures undertaken by them.  They plan to take the franchisee route to expansion across Pune and pan India in times to come. 

Highlight the plusses don’t dwell on the minuses…

Not the type of people who dwell on problems, they prefer to highlight their achievements: over fourteen years of service to the eclectic Pune crowd and compliments for their food and service. 

Earlier the setup of the restaurant was such that only 70-80 people could be seated, but it has now expanded to seat 250 people at a time.  Easels and Grills, their venture which is a promotion of live painting (on every 2nd and 4th Tuesday of every month) is a noteworthy feature. 

Mr.Praful Chandawarkar believes in hard work and his advice for future Entrepreneurs is “Work hard, it is the key to success”. 

Image Courtesy: http://www.freedigitalphotos.net/images/view_photog.php?photogid=2026

Going out of business in just a few days; sounds like every entrepreneur’s horror story, right?  Not really, a few days in the market serve just as well some business owners would say.  Pop-up establishments are a great way of making inroads in to an already crowded retail space.  Especially for businesses that deal in customized products and services. 

The Pop-up model is finding favor with entrepreneurs for a plethora of reasons.  If you are starting out on your entrepreneurial journey then pop-up retail, an initiative which involves setting up short-term sales spaces is a great way to grab your slice of the retail pie.  Here’s how….

Testing the Waters

The test marketing stage is a crucial one for all new ventures or businesses that are launching a new product/service.  Testing the waters with pop-up retail gives business owners the flexibility of working by simply hiring space for a few hours/days.  This means you cut down on the cost of real estate, rent, fixed and working capital expenditure.

Here are some ways in which people have tested waters with pop-up establishments:

• Hiring table space at exhibitions and even flea markets (these are gaining popularity even in urban areas with malls trying to give local businesses a platform to display their wares)
• Setting up a table at a public gathering/event
• Exhibiting at fairs or village markets
• Using your own premises or a friend’s home/lawn/terrace space. 

The idea is to showcase your products in a bid to gauge customer response just like the Bandit Queen, an uber-luxe home décor store created a pop-up during Diwali last year to highlight their unique “glow –in- the -dark” bed linen collection.  Their pop-up even had an interesting name “Verandah in the City”. 

Innovation

Man was, is and always will be fascinated by novelty.  People look forward to something new and better still it offers business owners with the opportunity to do things in their own way.  A pop-up is clever, not boring, run of the mill and in that lies the allure.

The Umami Supper Club, possibly Mumbai’s first pop-up vegetarian supper club is a place where strangers drop in like guests on Friday evenings.  Operating out of a friend’s terrace residence, Rishaal Lodhia and Tatania Joignant, founders of Umami have no plans to make this a full-fledged commercial venture.  Since inception they’ve branched out in to in-house catering and will even cook a meal in your kitchen.

Pop-ups in the consumer’s home are an extension of brands with wheels and have all the advantages that a mobile brand offers…convenience, comfort and above everything else the ability to make people sit up and take notice. 

Grabbing Attention

The interesting aspect of pop-ups is something that lies in psychology, human appreciation increases for an experience that’s not everlasting and that is the USP (Unique Selling Proposition) of a temporary retail space.  It’s a great way to pique consumer curiosity and there are establishments that keep the offering a surprise even till the last minute.

The London based Savoy Truffle Supper Club is a by-invite-only soiree for friends where hosts Alison and Guv Tyler play on the “impromptu” element.  Each night is unique, the menu and even the venue can change at the last minute but what doesn’t change is the stylish setting and the seasonal food. 

The pop-up format means business owners can alter what they want, when they want and the way they want.  Using this element of pop-up retail itself is an attention grabbing tactic.  Customers know a pop-up won’t be around forever and that is precisely why they will want to get their hands on stuff while it lasts. 

Plain Economics

Using pop-up retail is all about the economics of running an establishment. A pop-up that lasts a few hours/days/months saves time, money, resources like physical office space, furniture, fixtures, equipment and salary.  Opposed to a full-fledged office/store that requires considerable investment in fixed assets and attracts an amount of maintenance and working capital requirements, pop-ups are an economical way to set up shop.

A pop-up also makes complete economic sense when you want to engage customer interest, arouse curiosity and egg people on to experiment with your product until you set up a full-fledged store.  The cash counters are ringing, people are interested and you have your finger on the pulse of the market while all this happens.

Coming back to the instance of the Bandit Queen using the pop-up format called the Verandah in the City; the pop-up space served two purposes: showcasing wares and as an arrangement for tiding over customers till their new store opened in Lalbaug, Mumbai.

Creating Exclusivity

Pop-up retail is an endeavor that can be used by entrepreneurs who want to add an element of exclusivity and intrigue to their offerings.  In doing so they work towards carving a niche for themselves, create an impression that their offerings are not for all and sundry but also add mystique to the entire experience.

The Umami Supper Club is working on exactly these lines which have been successfully used by the Ghetto Gourmet and Red Box Bistro for a long time now.  Their “by invitation only” approach helps them to restrict entry to food connoisseurs who identify with their philosophy.  Food takes centre stage and the experience of sampling it at one table with a bunch of strangers is altogether something else…that is the USP.

Sneak Previews

Pop-ups are an excellent way of giving customers a sneak preview of things to come.  A teaser campaign that lets you “touch and feel” the products even before they hit the market.  Singapore airlines created a virtual in-flight experience for shoppers in Kolkata, Chennai and Bangalore in September 2010 when four hundred square feet of space held mock seats, in-flight amenities and cutlery to launch its enhanced economy and business class seats.

Ditto with the Bangalore Metro Rail Corporation which set up a real metro coach and engine at a busy junction to introduce commuters to its metro rail project and in the process tried to fend off negative publicity about possible delays in the project.

From piquing curiosity to saving valuable resources and giving owners oodles of flexibility, the Pop-up model is a great way to start off your venture or breathe new life in to a stagnant business venture.  What are you waiting for?  Pop-up and grab your slice of the retail pie!

Image courtesy: http://www.freedigitalphotos.net/images/view_photog.php?photogid=809

In a market place that’s crowded with competitors vying for the customer’s attention, marketing strategies and campaigns are the order of the day.  So much so that not having a strategy is unthinkable…or is it?

Breaking away from the predictable always makes people sit up and take notice.  A peek in to history just goes to vindicate the fact that the biggest revolutions began simply because someone refused to conform.  If you want to grab business success then a no marketing campaign is a strategy all by itself.

Here’s what I learnt from Sanjay Garg, the man behind “Raw Mango”, the Chanderi sari label that has grown 200 times in just three years that too shorn of bling and a marketing plan…

The Absence of a Marketing Plan is Exclusivity

Exclusivity stems from the lack of any definite marketing agenda.  When Sanjay Garg began his entrepreneurial journey three years ago he was just a Chanderi sari seller who would display his wares at sari exhibitions.  Today, preparing for limited edition shows overseas is just another day in his life. 

When he started out, he had no clarity about how and why he would market the Raw Mango label.  All he had was these whimsical Chanderi saris with upturned birds and lotuses sitting pretty…one each on the whole six yards.  It was only when his saris started flying off the shelves that he realized that an innovative product without a marketing agenda is a great business strategy in itself. 

Reinvention is the Key

Predictable is boring and unpredictable grabs attention…so whatever you do, stamp your work with signature style.  Reinvent, redefine and create something new that people find alluring. 

Raw Mango’s magic lies in the reinvention of the weave…softening the Chanderi, Ikat, Benarasi and Khadi weaves to gently coerce their natural stiffness in to the creaminess of crepe.  Garg’s Chanderi saris feel like silk and fall like chiffon…that’s clever reinvention for you!

The Product That Sells Itself

Let your product be the call to action for the buyer. Don’t take the route that everyone else takes.  Conspicuous by his absence from fashion weeks across the country, Sanjay Grag does not harbor the herd mentality.

He is different in his approach to the fashion business.  While creating a juxtaposition of weaves that forge regional connections he is committed to bringing commercial success to the weavers.  He looks upon them as partners in his venture that is one that creates unstitched fabrics which become saris only when a woman drapes them. 

Breaking Away from Convention

Mismatched borders, bold color combinations, six yards that tell a story, glittering borders on stark white saris and a sprinkling of motifs…Sanjay Garg happily marries the old with the new, blends shock and awe to produce six yards of style like only he can.

There’s nothing conventional about the price tag his saris carry…INR3, 000-15,000/- Raw Mango saris are not for every woman.  Sanjay has a clear idea about his customer profile…a woman who is real, bling free, with flair for alternative fashion and somewhere in between sexy and feminine. 

Engaging customer interest is not about a great advertising campaign, a well choreographed fashion show or a slick photo shoot that justifies the price tag.  It is all about fighting your competitors with substance…because in the end that’s what counts!

 Image Courtesy: http://www.freedigitalphotos.net/images/view_photog.php?photogid=1152