Biography of Mridu Goel: Founder and CEO of Bansiwala- Entrepreneur
Biography of Mridu Goel:
Mridu Goel’s journey to becoming an entrepreneur began with
a blend of personal experiences and professional ambition. After completing her
Chartered Accountancy and an MBA from the SP Jain Institute of Management &
Research, she started her corporate career with Cadbury India. Her work in
leading FMCG companies like Mondelez and Unilever honed her finance and operations
skills, but deep down, she always yearned to run her own business, particularly
in the food and beverage sector.
The Inspiration Behind Bansiwala
Mridu’s love for traditional Indian sweets and her keen
observation of her colleagues' cravings for authentic flavors from their
hometowns inspired her to launch Bansiwala in January 2019. She recognized that
while people were surrounded by modern confectionery, their hearts longed for
the tastes of their childhood—those sweets that held memories and connections
to their roots. With this insight, she envisioned a brand that would bring
authentic Indian sweets directly to consumers.
Facing Challenges Early On
Like many startups, Mridu faced a steep learning curve in
the initial stages of Bansiwala. The journey was filled with challenges, but
she remained focused on building a strong team. Believing that a well-supported
team would take care of customers, she cultivated a positive work culture,
which became a cornerstone of her business philosophy. This approach was
critical, especially as the company began to establish its market presence.
Navigating the Pandemic
In 2020, the COVID-19 pandemic struck, posing significant
threats to Bansiwala’s operations. With malls shutting down and logistics
disrupted, the company faced unprecedented challenges. However, Mridu viewed
this crisis as an opportunity for innovation. Rather than succumb to the
difficulties, she pivoted the business model to focus on e-commerce,
recognizing a growing demand for online shopping.
Revolutionizing Online Sweets
Within just 20 days, Bansiwala launched its website, marking
a significant transition from an offline-focused business to an online
platform. In the first four months, they expanded their product range from
eight SKUs to over fifty, catering to a broader audience. The company quickly
garnered attention, reaching more than 4,000 customers and even receiving a
grant from Facebook for small businesses.
Balancing Business and Family Life
While building her brand, Mridu also embraced her role as a
mother. Her nine-year-old daughter became both her biggest cheerleader and
critic. Their shared passion for food sparked meaningful conversations about
business, product pricing, and branding. Mridu often found joy in exploring new
flavors and ideas with her daughter, strengthening their bond through their
love for culinary experiences.
Biography of Mridu Goel: Founder and CEO of Bansiwala- Entrepreneur /startup/age/net worth/Indian sweets/Bansiwala story/Mridu Goel story/investor
Connecting Through Tradition
Bansiwala aims to connect consumers with their roots by
offering traditional Indian sweets. The startup has positioned itself as a
bridge between nostalgic flavors and modern convenience, enabling customers to
enjoy sweets from their hometowns without the hassle of visiting unorganized
local sweet shops. This innovative approach taps into the emotional connection
people have with their cultural heritage.
Filling a Market Gap
Mridu identified a significant gap in the market for quality
Indian sweets that cater to contemporary consumer preferences. While
traditional mithai has remained largely unchanged, consumer expectations have
evolved. Bansiwala addresses these needs by offering doorstep delivery, diverse
product assortments, and high-quality packaging—all accessible through a
digital interface.
A Unique Product Offering
Bansiwala’s product range includes both common and unique
sweets from various regions of India. For example, it offers Mysore Pak, a
popular Tamil Nadu sweet, and Dodha from Punjab, making it a go-to source for
Mumbaikars craving authentic regional flavors. By sourcing products directly
from their origins, Bansiwala ensures that every item reflects the true taste
and tradition associated with it.
Creating a Household Name
Mridu’s mission for Bansiwala is to make it a household name
for authentic Indian sweets available online. By focusing on high-quality
products that resonate with consumers’ nostalgic cravings, she aims to triple
their customer base by the end of 2021. The brand also plans to expand its
reach into exports, targeting the Indian diaspora longing for flavors from
home.
Strategic Marketing and Operations
Bansiwala employs a robust marketing strategy, combining
traditional and digital approaches. The company builds strong partnerships with
distribution channels while investing in brand awareness online. Their
data-driven targeting strategies ensure effective customer engagement,
resulting in impressive return rates and repeat purchases.
Building a Solid Foundation
From its inception, Bansiwala has maintained strong business
fundamentals. The company has been EBITDA positive from day one and experienced
nearly 50% annual growth prior to the pandemic. Their flexibility in adapting
to market changes allowed them to shift towards e-commerce, which proved to be
a successful pivot during challenging times.
Ensuring Quality and Consistency
Quality is paramount at Bansiwala. The company closely
monitors product quality, ensuring that each item meets stringent standards.
They leverage food technology to enhance the shelf life of their sweets while
preserving authentic flavors. This commitment to quality helps build consumer
trust and satisfaction.
The Competitive Edge
Bansiwala's competitive advantage lies in its
well-established supply chain and focus on operational efficiency. By carefully
selecting and training suppliers, the company ensures consistency in product
quality. Their innovations in packaging and sourcing enable them to deliver
authentic regional sweets with an extended shelf life, catering to consumers
across India.
A Vision for the Future
With its strategic focus on quality and innovation, Bansiwala
is poised for growth in the booming e-commerce space. Mridu's dedication to
bringing traditional Indian sweets into the modern market, along with her
commitment to customer satisfaction, sets Bansiwala on a path to success. As
the brand continues to evolve, it remains deeply rooted in its mission to
connect people with the tastes of their childhood, bringing a piece of home to
their doorstep.
Timeline for Mridu Goel and Bansiwala
2014 - Mridu completes her Chartered Accountancy and MBA
from SP Jain Institute.
2014-2018 - Gains corporate experience at Cadbury, Mondelez,
and Unilever.
January 2019 - Bansiwala is launched, focusing on authentic
Indian sweets.
2020 - COVID-19 pandemic disrupts operations, prompting a
pivot to e-commerce.
April 2020 - Bansiwala launches its website and expands
product range from 8 to over 50 SKUs.
Mid-2020 - Gains over 4,000 customers and receives a grant
from Facebook for small businesses.
End of 2021 - Aims to triple the customer base and plans for
export to the Indian diaspora.
2024 - Bansiwala continues to focus on quality and
innovation in the e-commerce space.
