Biography of Mohammad Dulal Mahmud: Founder of Recipe Food Products Limited
Biography of Mohammad Dulal Mahmud:
Rising from Humble Beginnings
Mohammad Dulal Mahmud was born into an underprivileged
family in Buruz of Gaptali Upazila, Bogra District, Bangladesh. His early life
was marked by immense hardships as his family struggled with poverty. Growing
up in a home where meat was a luxury reserved for sacrifices, Dulal’s childhood
was a constant reminder of the value of money. Despite these challenges, his
ambition was clear: he wanted to create jobs rather than work for others.
The Struggles of Early Entrepreneurship
Dulal’s initial ventures into business were fraught with
failure—21 times, to be exact. With only 10 rupees in his pocket, he walked 18
kilometers daily in pursuit of success. These repeated setbacks tested his
resolve, but his determination to rise above his circumstances never wavered.
His journey became a testament to resilience and hope.
Biography of Mohammad Dulal MahmudL Funder of Recipe Food Products Limited/age/net worth/startup/shark tank bangladesh/Entrepreneur/Mohammad D
A New Beginning as a Sales Representative
To escape mounting debt, Dulal left home and worked as a
sales representative for four years. This experience taught him the intricacies
of sales and marketing, laying the groundwork for his future endeavors. During
this period, he developed the skills and perseverance necessary to navigate the
complexities of the business world.
From Humble Jobs to Big Dreams
Md. Ittekarul Islam, another key figure in the journey of
Recipe Food Products Limited, began his career working at a studio shop earning
just 600 taka. After several years, he managed to establish his shop and later
moved to Dhaka, where he faced even greater challenges. Starting as a watchman,
Ittekarul worked his way up to become a trainee assistant and eventually an
officer in a bank, where he spent nine years in various roles.
A Shared Vision for Recipe Food Products
Dulal and Ittekarul, along with Md. Maimul Islam, brought
their combined experiences together to establish Recipe Food Products Limited.
Maimul, the company’s Chief Operating Officer, shared the same dream of
building a business that catered to Bangladesh’s traditional tastes. Together,
they sought to create a brand rooted in quality and reliability.
The Brand "Recipe" and Its Mission
Recipe Food Products specializes in traditional Bangladeshi
staples such as muri (puffed rice), sesame, mustard oil, and more. The brand’s
slogan, “Recipe Guneo,” emphasizes their uncompromising commitment to quality.
With 16 products and a growing presence, the company aims to capture 5% of the
Bangladeshi sales market, which amounts to an annual turnover of 5,000 crores.
A Network of Distribution
The company has established a robust distribution network,
with depots in Mymensingh and Netrakona. Each district has a dealership system
where sales representatives collect orders daily and ensure timely delivery.
With over 5,000 outlets and 16 dedicated sales representatives, Recipe Food
Products has already reached more than one million customers in the past three
years.
Strategic Focus on Regional Strengths
The founders chose to begin operations in Mymensingh and
Netrakona due to their familiarity with the regions. Dulal’s banking experience
and connections in these areas allowed the company to establish a strong
foothold. Leveraging local resources and expertise, they sourced products like
coriander, chili, mustard, and paddy from Bogra, known for their high quality.
Early Profits and Future Aspirations
Recipe Food Products has achieved significant milestones,
with a profit of 25 lakhs and a gross profit margin of 40%. Their net profit
now ranges between 9% to 12%. These figures highlight the brand’s growing
acceptance and the potential for further expansion in the coming years.
Commitment to Quality and Growth
The founders' commitment to quality and their understanding
of traditional Bangladeshi flavors have set them apart. By sourcing raw
materials locally and building a trusted distribution network, they ensure that
their products meet customer expectations.
Building a Strong Team
The company’s workforce of 45 employees reflects its growing
scale and aspirations. Each team member plays a critical role in ensuring that
Recipe Food Products reaches every corner of their target market, contributing
to the company's overall success.
Seeking Support for Expansion
To take Recipe Food Products to the next level, the founders
are seeking an investment of 50 lakhs for 4% equity. They believe this infusion
of funds will enable them to expand operations, enhance product offerings, and
capture a larger share of the market.
A Vision of Empowerment and Success
The story of Recipe Food Products is one of perseverance,
innovation, and a deep-rooted desire to uplift communities. With their shared
vision, the founders aim to make their brand a household name in Bangladesh,
spreading the message of quality and tradition while conquering new markets.
A timeline for Recipe Food Products Limited:
Early Life (Bogra District) - Mohammad Dulal Mahmud faces
hardships growing up in poverty.
Initial Ventures - Dulal endures 21 business failures,
walking 18 km daily to pursue success.
Sales Representative Role - Works for four years, gaining
sales and marketing expertise.
Ittekarul's Early Career - Starts earning 600 taka at a
studio, progresses to a banking career over nine years.
Formation of Recipe Food Products - Dulal, Ittekarul, and
Maimul establish the company to honor Bangladeshi traditions.
Product Launch - Introduces 16 traditional staples like
muri, sesame, and mustard oil.
Distribution Network - Establishes depots in Mymensingh and
Netrakona, serving over 1 million customers in three years.
Early Profits - Achieves 25 lakhs in profit, with a gross
margin of 40% and net profit of 9%-12%.
Team Growth - Expands to a workforce of 45 employees to
support operations.
Investment Pitch - Seeks 50 lakhs for 4% equity to scale
operations and market reach.
Vision for Expansion - Aims to capture 5% of the Bangladeshi
market with an annual turnover of 5,000 crores.
