Betting On New Concepts

What sort of challenges did your company face and how did you tackle these?

The challenges faced by the startup include customer satisfaction, brand recognition, understanding business turbulence, and planning a strategic operational partnership. Further on, the list of challenges are loyalty and building a strong customer-centric working philosophy across teams to keep our customers engaged and highly satisfied.  

There is no one playbook to overcome challenges. Our company was resilient, focused on keeping its integrity intact against all odds, and kept moving towards stability and acceleration.
 
Is there any change in consumer behaviour after the pandemic?  

The hospitality industry in India is consistently growing at almost 100 per cent year on year and accounts for about 7.5 per cent of the country's GDP. After getting severely hit during the pandemic, the hospitality sector has come out strongly due to consumer behaviour in the form of revenge spending.  

2023 will be a year of newfound opportunities, with the resumption of consumer spending invigorating the hospitality landscape. The many new concepts we are executing will effectively change the entertainment dynamics in the country. 

 How has 2022 panned out for your company in revenue terms?  

2022 was a high growth year for us, during which we launched more than 10 projects across the country. We plan to achieve revenues of about Rs 150 crore in FY23, compared with Rs 40 crore in FY21. 

 Any plan of expansion next year? 

Continuing our soaring expansion, we aim to double the revenues we did in 2022. Entertainment and hospitality will continue to be our primary areas of focus and investment in the upcoming years. We have already signed 11 projects across the country, with an investment plan of about Rs 150 crore for the first two quarters of 2023. 

 How did you tackle founder issues, limited investment and significant layoffs across the year? 

Using our own skillsets and strengths made us learn real entrepreneurship skills such as prioritising the importance of growing while staying lean, embracing diversity at every turn because it's good for profits, performance, recruiting, and retention, giving way to collaboration, creativity, and flexibility, understanding my own motivation, and enhancing strong relationships with stakeholders.