The business of packaged goods for consumers plays an important role in the Indian economy. Looking at the law, it can be seen that most of the multinational companies dominate in this sector. But even some Indian entrepreneurs have risen to the top from the beginning. And these people need to be thanked because because of them, the demand for domestic brands has also increased rapidly over the years.
Today we bring to you the story of a successful entrepreneur who made a splash in the FMCG sector. From selling chips in Gujarat cinema halls to building a well-known brand in the country, the story of this man is unique in itself. Little did anyone know that Chandubhai, Bhikhubhai and Meghjibhai Birani, three brothers born in a small village in Jamnagar, Gujarat, would soon become prominent figures in the Indian business world.
Born into a poor peasant family, his main occupation was farming. In 1972, the Birani brothers decided to move from the village to the town. These people planned to set up some industries in the city. Seeing the need for initial capital to start a business, these brothers also pressured their father to sell the land. The son was everything to the father.
He sold his ancestral agricultural land and paid Rs 20,000 to his children for doing business. Chandubhai submerged the entire capital by trading in agricultural machinery with his brothers. The farm used to burn down the house, but now it is gone. Finally, for 2 loaves, he opened a small canteen in a movie theater in Rajkot in 1974 and started selling wafers and sandwiches made by his wives.
This has been going on for 15 years and during this time they have seen that home wafers are preferred by consumers. He saw huge business potential in the area and later set up a semi-automated frying plant in 1989 to make his products more widely available. Under the banner of Balaji Wafers, he started making a living by providing good quality products at affordable prices in the local market.
Although at first the brothers had a lot of trouble. He used to go from one shop to another and sell things. Many shopkeepers did not like to take big packets and some shopkeepers did not pay on time. Even after so much hard work, he did not get any benefit. But he has not given up and is ruling the market today.
Significantly, salty snacks account for 60 per cent of the Rs 50,000 crore Indian snacks market, while potato chips account for 40 per cent. Today, Balaji Wafers has a market share of 65% in Gujarat’s salt food market, 50% in Maharashtra, 35% in Rajasthan and 25% in Madhya Pradesh. Global and national brands such as Lays, Crispy, Parle and Bingo have achieved the success of Balaji Wafers’ in-house flavor, affordable price and direct relationship with their customers.
You will be surprised to know that today Balaji Wafers and Namkin Group manufacturing plants in Rajkot and Valsad are producing 38 tons and 24 tons of wafers daily. Recently, the Virani brothers have set up a third manufacturing plant outside their home state of Madhya Pradesh with an investment of Rs 400 crore. The daily production capacity of this plant at Pithampur (Indore) is 24 tons.
A resident of a small village, these farmer boys have put up tough competition with many big foreign brands with their entrepreneurial spirit. Seeing his success, it seems that it is not impossible to achieve something with strong will. According to Wikipedia, the annual turnover of Balaji Wafers was around Rs 3,000 crore by 2020.