Biography of Bhaskar KR: Founder & CEO of Bhaskar's Puranpoli Ghar-Entrepreneur
Journey of Bhaskar's Puranpoli Ghar
Bhaskar KR, originally from Karnataka, embarked on an
inspiring entrepreneurial journey that led to the creation of Bhaskar’s
Puranpoli Ghar, a food brand that serves delicious puranpolis and other Indian
snacks. Bhaskar’s story is one of persistence, resilience, and growth. He
started small, working as a waiter and taking on various jobs to support
himself. Despite the challenges, his passion for food and business pushed him
to take the plunge into the food industry.
The Birth of Puranpoli Ghar
The idea for Bhaskar’s Puranpoli Ghar came to him while he
was working on the streets, selling puranpolis that he cooked himself. These
traditional Indian delicacies gained popularity quickly among locals, and
Bhaskar’s reputation as a skilled puranpoli maker began to grow. Seeing the
potential, he expanded his operations and opened a shop, marking the beginning
of his food venture.
From Street Vendor to Business Owner
Bhaskar’s dedication to serving high-quality food and
maintaining a clean, hygienic environment at his shop made his brand stand out.
As more people came to enjoy his puranpolis, Bhaskar realized the opportunity
for scaling his business. His consistent efforts led him to expand beyond
Karnataka, and he soon brought his puranpoli business to Maharashtra, a
significant step toward his goal of growing his brand across India.
Collaborating for Expansion
In his quest to take the business to the next level, Bhaskar
partnered with Vittal Shetty and Saurabh Choudhary in Maharashtra. Their
combined efforts helped Bhaskar’s Puranpoli Ghar spread to new regions,
including Mumbai. The first Mumbai outlet opened in Thane in January 2021,
marking a new chapter in the company's journey. This collaboration allowed the
brand to tap into a larger market, attracting more customers to its delicious
offerings.
Shark Tank India Pitch
In 2021, Bhaskar appeared on the popular business reality
show Shark Tank India to present his brand and seek an investment. He asked for
INR 75 lakh for a 1% equity stake in his business, valuing Bhaskar’s Puranpoli
Ghar at INR 75 crores. This pitch was a big opportunity for Bhaskar to gain the
attention of investors and take his brand to new heights.
The Sharks' Questions
The Sharks were intrigued by Bhaskar’s puranpolis, but they
wanted to know more about the business and its potential for growth. Peyush
Bansal, one of the investors, asked about the typical consumption patterns of
puranpolis, wondering when people typically enjoy this dish. Bhaskar and his
team explained that in some parts of India, puranpolis are eaten for breakfast,
while in other areas, they are considered a dessert.
Bhaskar's Struggles and Triumphs
During his pitch, Bhaskar shared his personal journey, which
resonated with the Sharks. He spoke about the struggles he faced before
starting his food business, and how his hard work had paid off. The Sharks were
moved by his story, but they needed more concrete details about his business’s
performance before making any decisions.
Sales Numbers and Profit Margins
Vittal Shetty, a key member of the Bhaskar’s Puranpoli Ghar
team, provided details about their sales. In FY 2021-22, the Thane outlet alone
had generated INR 1.6 crores in revenue. When looking at all the outlets, the
brand had made approximately INR 18.5 lakh in sales during the past month. The
company was earning around 18-20% profit margins, which amounted to INR 3.6
lakh monthly profit.
Biography of Bhaskar KR: Founder & CEO of Bhaskar's Puranpoli Ghar-Entrepreneur/homemade puranpolis/age/net worth/investor/startup/shark tank
The Investment Dilemma
Despite the impressive sales figures, the Sharks were not
entirely convinced about the valuation of the business and the equity stake
Bhaskar was asking for. Peyush Bansal questioned why Bhaskar’s team was seeking
INR 75 lakh for just 1% equity, suggesting that the business could be scaled
further without outside investment. He recommended that the company consider
taking a loan to expand instead of seeking equity.
The Sharks' Reactions
Vineeta Singh was the first to opt out, expressing doubts
about the need for an investor. She believed that Bhaskar and his team could
scale the business using their own capital. Peyush also voiced concerns,
questioning the equity offer and the long-term viability of the brand's
expansion model. Anupam Mittal followed suit, stating that there were multiple
conflicting interests within the team, which made him hesitant to invest.
Peyush's Concern About Equity
Peyush further elaborated on his concerns, stating that for
INR 75 lakh, he would expect at least 15-20% equity in return. He suggested
that Bhaskar’s Puranpoli Ghar could potentially take on debt to finance its
expansion rather than diluting equity. Despite his interest in the business,
Peyush ultimately decided not to pursue the investment.
Aman's Final Decision
Aman Gupta, the final Shark, also decided to pass on the
opportunity. He felt that with Bhaskar’s team already involved in several
businesses, they might not be fully dedicated to this venture. Given the
uncertainty around their commitment, Aman chose to step out of the deal,
leaving Bhaskar without an investor.
The Outcome of the Pitch
Despite the Sharks’ interest in Bhaskar’s story and
business, Bhaskar’s Puranpoli Ghar did not secure a deal on Shark Tank India.
However, the appearance on the show gave the brand significant exposure and
helped Bhaskar’s team gain valuable feedback from experienced investors. The
decision to pass on the deal did not deter Bhaskar, as he remained committed to
expanding his business.
Looking Forward: The Future of Bhaskar's Puranpoli Ghar
Following the Shark Tank pitch, Bhaskar’s Puranpoli Ghar
continues to grow, with plans to expand further across India. Bhaskar’s
ultimate vision is to have 100+ outlets nationwide, allowing more people to
experience the joy of authentic, healthy puranpolis. With its focus on quality,
hygiene, and natural ingredients, Bhaskar’s Puranpoli Ghar is poised for
continued success in the competitive food industry.
In Conclusion
Bhaskar’s Puranpoli Ghar’s story is a testament to hard
work, perseverance, and the power of a great idea. From humble beginnings as a
street vendor to running a multi-crore business, Bhaskar’s journey reflects the
challenges and triumphs of entrepreneurship. While the Shark Tank pitch didn’t
result in a deal, it provided valuable visibility and has opened new doors for
growth and opportunities in the future.
A timeline based on the story of Bhaskar's Puranpoli Ghar:
Early Years (Before 2015): Bhaskar worked various jobs,
including as a waiter, to support himself.
2015 - Birth of Puranpoli Ghar: Bhaskar began selling
homemade puranpolis on the streets, gaining popularity.
2016 - Shop Launch: Opened his first shop, officially
launching Bhaskar’s Puranpoli Ghar.
2019 - Expansion to Maharashtra: Bhaskar expanded his
business beyond Karnataka to Maharashtra, tapping into a larger market.
2021 - First Mumbai Outlet: Opened his first outlet in
Thane, Mumbai, marking significant brand growth.
2021 - Shark Tank India Appearance: Bhaskar pitched his
business seeking INR 75 lakh for 1% equity at a valuation of INR 75 crores.
2021 - Sharks' Reactions: Despite strong sales figures, the
Sharks were concerned about valuation, equity, and scalability, and chose not
to invest.
Post-Shark Tank (2021-2024): Bhaskar’s Puranpoli Ghar
continues to grow, expanding with plans to reach 100+ outlets across India.
Future Vision (2024): Bhaskar aims to expand his food brand
further and make puranpolis a beloved offering nationwide.
