Biography of Manahil Mughal: Founder and CEO of Baked Spot- Entrepreneur
Biography of Manahil Mughal:
Sweet Journey Begins
Manahil Mughal and her sister Mawra Mughal are the visionary
co-founders of Baked Spot, a cloud kitchen bakery that has captured the hearts
of customers and investors alike. Launched in November 2023 with just PKR
30,000, their business reflects the power of determination and strategic
planning. The sisters were inspired by the growing trend of cloud kitchens and
saw it as an affordable way to create a quality-focused bakery brand without
the high costs of a physical store.
Shark Tank Pakistan Spotlight
Manahil and Mawra took their dream to Shark Tank Pakistan,
where they passionately pitched their business. The Mughals emphasized the
advantages of their cloud kitchen model, which required a lower investment and
offered operational efficiency. Their clear vision and commitment to excellence
stood out, impressing the sharks from the start.
A Vision Backed by Numbers
During their pitch, the sisters revealed Baked Spot's
impressive financial journey. In just nine months, the business achieved PKR 3
million in sales and a net profit of PKR 1.2 million. Operating with a lean yet
effective team of five members and delivery riders, the bakery maintained a
gross margin of 40%. The numbers spoke volumes about the potential of their
venture.
Securing the Investment
Initially seeking PKR 20 lakhs for 10% equity, the sisters
valued their company at PKR 2 crores. After thoughtful negotiation, they
secured a deal of PKR 30 lakhs for 15% equity with sharks Faisal Aftab and
Aleena Nadeem. This marked a significant milestone for Baked Spot, providing
the resources needed to elevate the business.
Biography of Manahil Mughal: Founder and CEO of Baked Spot- Entrepreneur /age/net worth/startup/shark tank story/Baked Spot story/Manahil Mughal
Filling a Market Gap
Pakistan's bakery industry lacked a strong cloud-based
brand, and Baked Spot identified this as a golden opportunity. The co-founders
aimed to fill this gap by delivering fresh, high-quality baked goods while
leveraging the scalability of a cloud kitchen model. Their forward-thinking
approach positioned the brand for rapid growth.
The Secret Ingredient: Dedication
Manahil and Mawra’s hands-on management style played a
critical role in the bakery's success. They were deeply involved in every
aspect of the business, from production to packaging. Their reinvestment
strategy allowed for steady growth and created a loyal customer base.
Challenges and Solutions
Despite their success, the sisters acknowledged challenges.
Approximately 60% of their expenses were tied to manual packaging and
manufacturing processes. They aimed to upgrade equipment and professionalize
their operations. Additionally, they recognized the need for stronger marketing
strategies to expand their reach.
Strategic Investment Allocation
With the funding secured, the co-founders planned to use 50%
of the investment for marketing and the remainder for operational improvements.
This dual focus aimed to strengthen the brand and enhance production
efficiency, setting the stage for long-term sustainability.
Valuable Insights from Sharks
The sharks provided more than financial backing; they
offered strategic advice to refine Baked Spot’s business model. Their insights
helped the sisters craft a stronger strategy to compete in the competitive
bakery market.
A Turning Point for Baked Spot
The investment marked a new chapter for Baked Spot. With
resources to enhance marketing and operations, the sisters were ready to expand
their presence and redefine the baked goods market in Pakistan. The journey
from a modest capital to Shark Tank success highlighted their resilience and
vision.
A Bright Future Ahead
Baked Spot’s story is a testament to the power of innovation
and dedication. Manahil and Mawra have not only built a successful business but
have also inspired others to pursue their entrepreneurial dreams. As they
continue to grow, their focus remains on delivering quality and delighting
customers across Pakistan.
Timeline for Baked Spot story
November 2023 - Manahil and Mawra Mughal launch Baked Spot
with PKR 30,000.
First 9 Months (2024) - Achieves PKR 3 million in sales and
PKR 1.2 million in net profit.
Mid-2024 - Pitch on Shark Tank Pakistan, seeking PKR 20
lakhs for 10% equity.
Shark Tank Deal - Secures PKR 30 lakhs for 15% equity with
Faisal Aftab and Aleena Nadeem.
Post-Investment Plan - Allocate funds for marketing (50%)
and operational upgrades (50%).
Current (Late 2024) - Expand market reach and operational
efficiency to redefine Pakistan’s bakery industry.
