aurangabad:
A tragedy struck the lives of Akash Mhaske and Aditya Kirtane in mid-2020 during the COVID-19-induced lockdown.
The childhood friends who later became engineers had watched movies for the first month of the lockdown, but a continuation of the restrictions prompted their respective employers to fire them.
Instead of applying for jobs in this Maharashtra city blessed with some industrial activity nearby, they decided to start their own business.
Reading books about successful companies confirmed the decision. But they didn’t know exactly what to do.
A professional training on meat and poultry processing by a local varsity was the serendipity moment.
The business idea was to enter the highly disorganized meat market with a credible supply to retail consumers on demand.
The idea seemed strange and the budding entrepreneurs initially did not get the full support of their families.
“Our families initially thought that no one would marry us because of the nature of the work we do. Later, they stood by our side,” Aditya Kirtane told PTI.
Starting with a 100sqm space in their neighborhood with an initial investment of Rs 25,000 managed by friends from their savings, their venture ‘Apetitee’ grew well and now realizes a turnover of more than Rs 4 lakh per month. As the company continued to gain popularity, it was also noticed by Fabi Corporation, another city company.
Fabi recently bought a majority stake in Apetitee for Rs 10 crore, and the company’s co-founders Kirtane and Mhaske will remain with the brand with minority stakes.
“The profit margin they work with is 40 percent. Meat sales are a completely disorganized segment in Aurangabad,” said Fahad Syed, director of Fabi.
Syed said that after the deal, the “Apetitee” brand name will continue and they will introduce newer products, such as pre-marinated products. A slew of investments are also planned, he added.
These include developing an application for consumers to place orders, revamping 100 stores over the next three years to ensure the brand has a physical presence, and creating a fleet of electric vehicles to transport orders to the door. said Syed.
Marketing the company through online media, the new management also relies on word of mouth, Syed said, exuding confidence that the brand will create 2,500 direct and indirect jobs in Aurangabad if the expansion takes place.
There are also plans to take the venture outside of Aurangabad to other tier-II and tier-III cities of Maharashtra, he said.
(Except for the headline, this story has not been edited by DailyExpertNews staff and has been published from a syndicated feed.)