The business of packaged goods 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. Even some Indian entrepreneurs have risen to the top from the beginning. Demand for this specialty has grown significantly as a result of recent corporate scandals. The story of a successful entrepreneur has come to the fore today.
Who succeeded in setting foot in the FMCG sector. From selling tickets in Gujarat’s cinema halls to building a well-known brand in the country, this man’s story is truly unique. 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. Planned to set up some industries in his town. Seeing the need for initial capital to start a business, the three brothers pressured their father to sell the land.
Sons were everything to the father. Their father paid 20,000 rupees for their children’s business by selling their ancestral agricultural land. Chandubhai and his brothers opened a small canteen in a cinema theater in Rajkot in 1984 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 people prefer home-made wafers. He saw the potential for business in this area. 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 to suffer a lot. They 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. However, he did not give up and is ruling the market today.
Significantly, 80 per cent of the Rs 50,000 crore Indian snacks market is salty snacks, while 40 per cent is potato chips. Today, Balaji Wafers has a market share of 75% in Gujarat, 50% in Maharashtra, 35% in Rajasthan and 25% in Madhya Pradesh. National brands like Lays, Crispy, Parle and Bingo are the in-house flavors of Balaji Wafers.
Surprising to know that today Balaji Wafers and Namkin Group manufacturing plants in Rajkot and Valsad are producing 36 tons and 24 tons of wafers daily. Recently, the Virani brothers set up a third manufacturing plant outside their home state of Madhya Pradesh with an investment of Rs 400 crore. The annual turnover of Balaji Wafers will be around Rs 3,000 crore by 2020.