How Ankit Nagori Built India's Healthiest House of Brands

Name: How Ankit Nagori Built India's Healthiest House of Brands
Uploaded: 2023-09-04T12:44:19.000Z
Duration: 1 h 54 min 26 s

Introduction to Food Business in India

In this section, Ankit Nagori discusses the potential of the food business in India and the rise of American QSRs (Quick Service Restaurants) in the country.

Food Business Potential in India

The food business in India has the potential to become very big.

Examples of American QSRs coming to India and becoming successful are abundant.

However, there are not many examples of Indian companies becoming multi-thousand companies.

Ankit believes that Indian companies will eventually achieve success in the food business.

Welcome to Millionaire Mondays

This section introduces "Millionaire Mondays," a show that features real Indian startups and their stories as told by the entrepreneurs who built them.

Ankit Nagori's Journey with Cure Foods

Ankit Nagori shares his journey of building Cure Foods, one of the largest cloud kitchen companies in India.

The Rise of Food Delivery Apps and Cloud Kitchens

Historically, most Indians preferred home-cooked food over food from cloud kitchens.

However, with the emergence of food delivery apps like Swiggy and Zomato, Indians have become more comfortable with ordering from food brands.

Cure Foods entered the picture as a cloud kitchen company catering to this changing trend.

Ankit's Entrepreneurial Background

Before starting Cure Foods, Ankit had experience building an online community called Youth Pad.

He worked at Flipkart for several years before leaving to co-found CureFit with Mukesh Bansal.

Over time, CureFit evolved into India's leading health and fitness startup.

Eat Fit Becomes a Focus

Eat Fit was initially launched as a health food brand under CureFit.

Ankit realized the potential of the health food market and decided to focus on building a marketplace for health restaurants.

The challenge was finding a sustainable way to offer healthy meals at scale in multiple cities.

Building Eat Fit as a First Party Service

Ankit discusses the decision to build Eat Fit as a first-party service instead of a marketplace and the challenges they faced.

The Challenges of the Food Business

Ankit acknowledges that the food business is tough, but it also has its advantages.

There is a moat around the food business, making it challenging for new players to enter.

Cure Foods acquired several small-scale businesses with product-market fit to strengthen their position in the market.

Acquiring Businesses and Building Eat Fit

Some acquisitions were more like "acqui-hires" to bring onboard talented teams with product-market fit.

Eat Fit started as a meal subscription business catering primarily to cult customers who valued healthy living.

Office meals posed a significant challenge for customers, which led to expanding Eat Fit's offerings.

Conclusion

Ankit reflects on the growth of Eat Fit and its evolution from a meal subscription business to a larger brand offering various healthy food options.

Evolution of Eat Fit

Over time, Eat Fit expanded its offerings beyond meal subscriptions and catered to different customer needs.

The target customers were those who valued fitness and wanted access to healthy meals at their offices or homes.

These notes provide an overview of Ankit Nagori's journey with Cure Foods and the growth of Eat Fit. They highlight key points about the potential of the food business in India, the rise of cloud kitchens, and how Cure Foods adapted its strategy to meet customer demands.

The Early Days of Cure Fit

In the early days, Cure Fit started off in a controlled manner, targeting specific PIN codes and customers. Initially, it was available only for Cult customers in big office addresses in Bangalore. Over time, they expanded their reach and offerings.

Expansion Strategy

Started with limited availability to certain PIN codes and specific customers.

Initially focused on Cult customers in big office addresses in Bangalore.

Slowly opened up to more customers and locations.

In the beginning, only subscriptions were available, not single meal orders.

Challenges and Learnings

Building any business comes with growing pains.

Starting a company and building a business is tough.

Eat Fit faced its own challenges as a healthy meal brand.

Initially offered mainly smoothies, salads, and healthy sandwiches.

Realized that the average Indian diet includes other types of food like tandoori chicken or grilled paneer.

Expanded the menu to include regular meals with incremental improvements (e.g., high fiber Roti, more protein and greens).

Evolving into a Big Brand

To become a big brand, Eat Fit realized they needed to offer food that people eat every day. They made incremental improvements to regular meals by adding healthier ingredients while maintaining taste.

Catering to Everyday Food Choices

Recognized the need for Eat Fit to have everyday food options.

Expanded menu beyond just healthy options like smoothies and salads.

Introduced regular meals with incremental improvements (e.g., high fiber Roti).

Added more protein, greens, and seeds for better balance and satiety.

Adapting to Market Trends

Observing trends from the West, Eat Fit understood the importance of offering healthy versions of popular food items. They introduced multi-grain and ragi pizzas as alternatives to traditional pizzas.

Healthy Versions of Popular Food

Noticed the trend in the West where healthy products gained popularity.

Started offering healthy versions of traditionally unhealthy food items.

Introduced multi-grain and ragi pizzas as alternatives to regular pizzas.

Aimed to provide options for people who still wanted to enjoy certain foods but in a healthier way.

Offline Dining Expansion

Recognizing that not all occasions involve ordering in, Eat Fit opened offline dining locations. They aimed to become the go-to office lunch place and catered to social occasions where people prefer dining out.

Opening Offline Locations

Opened 10 locations between Bangalore and Hyderabad in the second half of 2019.

Noted that not all occasions are suitable for ordering in.

Acknowledged social occasions where people prefer dining out with their group.

Positioned themselves as the de facto office lunch place near office locations.

Importance of Offline Presence

While being a digital-first brand, Eat Fit recognized the significance of having an offline component. They believed that offline presence is crucial due to a large portion of the market still preferring offline dining experiences.

Offline Component for Building a Large Business

Emphasized that despite being a digital-first brand, offline presence is important.

Acknowledged that 80% of the category still involves offline dining experiences.

Highlighted that out of 28 eating occasions per week, not all can be fulfilled through online orders.

Stressed the need for some component of offline presence for any brand aiming to build a large business.

Focusing on the Food Business

During the period between 2016 and 2020, while wearing multiple hats, the focus shifted entirely to the food business. The speaker discusses whether this shift was planned or not.

Transition to Focusing on Food Business

Initially involved in various aspects of building Cure Fit.

Shifted focus entirely to the food business during that time period.

Unclear if there was a specific plan to solely concentrate on the food business.

Further details are not provided in this section of the transcript.

Evolution of Cult and Eat Fit

The speaker discusses the evolution of Cult and Eat Fit as brands. They mention that Cult became a big brand, while Eat Fit was steadily growing. However, the pandemic posed challenges for both businesses.

Challenges during the Pandemic

The pandemic raised tough questions about the future of the overall business due to its reliance on in-person services like gyms and food.

Operating Eat Fit as a cloud kitchen seemed ideal during the pandemic, but it faced difficulties due to varying city rules and lack of clarity on essential services.

The business suffered financially as office subscriptions, which accounted for 70% of their revenue, declined with offices shutting down.

Decision-making Process

Two options were considered - focusing solely on one part of the business or doubling down on each business independently.

The decision was made to double down on each business separately, leading to the creation of Cure Foods as a holding company.

The speaker's affinity towards the food business and belief in its potential influenced their decision.

Challenges Faced by Eat Fit During the Pandemic

The speaker reflects on how challenging the pandemic was for Eat Fit. They discuss how restaurant numbers decreased significantly across multiple cities due to different rules and regulations.

Impact on Restaurant Numbers

Eat Fit went from having around 55-60 restaurants across multiple cities to only about 15 during the lowest point of the pandemic.

Decision to Focus on Eat Fit

The speaker explains their decision to focus exclusively on Eat Fit despite the challenges it faced during the pandemic.

Thought Process and Decision-making

The speaker had an affinity towards the food business, which influenced their decision.

Instead of temporarily running both businesses separately, they decided to go in two different directions and increase their stake in Eat Fit.

The belief in the potential of the food business and its expected growth in India played a significant role in their decision-making process.

Entertainment Comfort during the Pandemic

The speaker discusses how entertainment and comfort became important during the pandemic, particularly in Bangalore. They mention the rise of small businesses offering pizza, biryani, sandwiches, smoothies, and ice cream for home delivery.

Importance of Entertainment and Comfort

During the pandemic, options for entertainment were limited.

In Bangalore, people relied on calling friends over or watching games or movies at home.

Small businesses offering pizza, biryani, sandwiches, smoothies, and ice cream emerged during this time.

These businesses capitalized on the need for comfort and convenience during lockdowns.

Multi-category Approach for Building a Large Business

The speaker explains that to build a large business, they needed to go beyond a single category. They discuss their conviction about cloud kitchens and the need for multiple brands to cater to different meal preferences.

Going Multi-category

To create a big business, they realized they needed to expand beyond one category.

They had conviction about cloud kitchens as an infrastructure model.

Recognizing that people have different meal preferences throughout the week (e.g., healthy meals vs. junk food), they understood the importance of having multiple brands.

One brand cannot cater across all meal slots or cuisines effectively.

By going multi-category with their brands, they aimed to capture a wider market share.

Taking Risks and Doubling Down

The speaker emphasizes the importance of taking risks in building a successful business. They share their experience of doubling down on their ideas and how it paid off during the pandemic.

Taking Risks

To make a big business, someone has to take risks.

The speaker was passionate enough to take risks even if it meant looking foolish in hindsight.

Their risk-taking paid off, and the company experienced significant growth in terms of volumes and revenue during the pandemic.

Evolution of Eat Fit as an Accessible Indian Meals Brand

The speaker discusses the evolution of Eat Fit from a super premium salad brand to a more accessible Indian meals brand. They highlight the importance of building a strong brand in the food industry.

Building a Brand

Building a brand in the food industry is challenging.

It requires creating products that have both product-market fit and brand-market fit.

The speaker emphasizes that branding plays a crucial role in customer preferences.

They mention how they transitioned Eat Fit into an affordable Indian meals brand, offering platters at different price points.

This shift allowed them to cater to a wider audience and increase accessibility.

Acquiring Pizza and Biryani Categories

The speaker explains their decision to acquire pizza and biryani categories as part of their business expansion strategy. They discuss the importance of having multiple brands within one kitchen.

Acquiring New Categories

Recognizing the growing trend of cloud kitchens during the pandemic, they decided to acquire pizza and biryani brands.

They believed it was the right time to expand their offerings by capitalizing on popular food categories.

Their business model focused on having multiple brands within one kitchen, allowing for efficient operations.

They aimed for profitability and good ratings across their 12 kitchens in Bangalore and Coimbatore.

Profitability in Restaurant Business

The speaker highlights the importance of profitability in restaurant businesses. They discuss how Explorex, a video sponsor, can help restaurants generate profits despite thin margins.

Importance of Profitability

Many restaurants struggle to generate profits due to razor-thin margins after considering expenses like rent, staff salaries, and utility bills.

Explorex, the video sponsor, offers solutions to help restaurant owners improve profitability.

The transcript provided does not cover the entire video.

New Section

In this section, the speaker discusses the importance of analyzing menu items for profitability and efficiency in a restaurant business. They also mention how Bridge's Inventory management tools can help mitigate wastage and how ExploreX's partner reports can assist in identifying which online food delivery platform to invest more marketing budget into.

Analyzing Menu Items

It is important to determine which menu items are the most profitable and fastest to produce.

Customizing the position of these items on the menu can increase revenue and operational efficiency.

Bridge's Inventory management tools can help limit ingredient procurement for underperforming items, reducing wastage.

ExploreX's partner reports provide insights on traction, average ticket sizes, order timings, and other factors to guide marketing budget allocation.

New Section

The speaker reflects on the challenges faced during the second wave of the pandemic but highlights that despite difficulties, their business became profitable. They discuss two possible directions for the company: building a sustainable business with consistent profits or scaling up as a multi-city business.

Challenges Faced During Second Wave

The second wave of the pandemic was tough for both team members and business operations.

Despite unfortunate incidents like losing a team member, high volumes contributed to profitability.

Two possible directions: building a sustainable business with consistent profits or scaling up as a multi-city business.

New Section

The speaker shares their decision to raise Series A funding based on their love for scale and opportunity. They mention approaching older friends and partnering with Iron Pillar. They clarify that they were not copying any specific model but rather focusing on creating multiple brands from one manufacturing facility.

Raising Series A Funding

Raised Series A funding based on love for scale and opportunity.

Approached older friends and partnered with Iron Pillar.

Not copying any specific model, but rather creating multiple brands from one manufacturing facility.

New Section

The speaker discusses the acquisition of Cake Zone, their second-largest brand, which contributed to significant revenue growth. They mention the integration of Cake Zone into their business and subsequent acquisitions like Mavericks.

Acquisition of Cake Zone

Acquired Cake Zone, which became their second-largest brand with a presence in 25 cities.

Integration of Cake Zone led to significant revenue growth.

Subsequent acquisition of Mavericks, which included three brands: Home Plate, Canteen Central (shut down), and others.

New Section

The speaker explains the approach to acquiring other brands. They consider factors such as customer satisfaction with the product, online DNA of the brand, and integration into their supply chain.

Approach to Acquiring Brands

Consider customer satisfaction with the product as a key factor.

Look for brands with online DNA that can integrate into their supply chain.

Assess compatibility with their hybrid fresh and chilled supply chain model.

New Section

In this section, the speaker discusses the preservation and quality of frozen food, as well as the acquisition process and the importance of retaining culinary experts.

Frozen Food Preservation and Quality

Frozen food is cooked first and then blast-frozen to preserve its freshness.

Some argue that frozen food is better than fresh because it is flash-frozen.

The speaker does not consider frozen food to be bad but emphasizes its preservation method.

Acquisition Process and Retaining Culinary Experts

When acquiring businesses, the company focuses on getting the entrepreneur on board.

The expertise and DNA of the brand are represented by the entrepreneur.

The entrepreneur is often a culinary expert, so their knowledge is valuable to retain.

The company uses an "acqui-hire" model, incentivizing entrepreneurs to stay on board after acquisition.

New Section

In this section, the speaker talks about Cure Foods and its core team members who were acquired from another company. They also discuss their passion for building a profitable business.

Core Team Members at Cure Foods

Cure Foods was founded in 2020 with a core team acquired from another company called Cult.

Gokul, who was previously with Cult, now serves as the chief business officer at Cure Foods.

Rahul Dilip Bhaskar joined early on when there was uncertainty about the success of the experiment.

Passion for Building a Profitable Business

The team at Cure Foods has worked through ambiguity and tough times together.

Their aim has always been to build a profitable business in the food industry.

Many team members work for small salaries but have ownership through ESOPs (Employee Stock Ownership Plans).

The company plans to turn profitable this year and go public in two to three years if things go well.

New Section

In this section, the speaker discusses the reasons why the leadership team at Cure Foods is passionate about their work and committed to the company's success.

Reasons for Passion and Commitment

The leadership team at Cure Foods is driven by three main factors.

First, they started with a clear goal of building a profitable business in the food industry.

Second, they have gone through tough times together and value the attachment they have with the business.

Third, as owners of the company through ESOPs, they see it as their own and take pride in what they have built.

The transcript provided does not contain enough information to create additional sections.

The Philosophy of Frugality and Long-Term Business Success

In this section, the speaker discusses the philosophy of frugality within the company and how it has contributed to their success. They also touch upon the challenges of hiring due to lower salaries compared to the market.

The Influence of Frugality Philosophy

The speaker believes that the tough times during the pandemic have shaped everyone's character.

They express hope that the mentioned individuals will continue running the business for many years.

The company's frugality philosophy is a key aspect that has been developed.

Challenges in Hiring

The company's frugality approach may make it challenging to attract talent due to lower salaries.

However, they emphasize that apart from money, there are other incentives for people to join Cure Foods.

The speaker mentions their entrepreneurial background as a trigger for initial conversations with potential candidates.

Attracting People with Other Incentives

Cure Foods does not work with hiring agencies but relies on LinkedIn postings for job openings.

Despite offering lower salaries (20-30% below market rates), they receive a significant number of inbound applications.

By being genuine and humble during interviews, they inspire candidates who remain in the pool.

Hiring Strategy: Diversity and Hunger for Success

This section focuses on Cure Foods' hiring strategy, which includes targeting diverse candidates and those who have experienced failure as entrepreneurs. They believe in hiring smart individuals who bring different perspectives and have a hunger for success.

Hiring Diverse Candidates

In previous experiences at other companies, hiring smart MBA grads or engineering grads was prioritized.

However, at Cure Foods, they aim to hire diverse individuals who have failed as entrepreneurs.

Their head of engineering is an ex-entrepreneur who sees Cure Foods as his own company.

Hunger for Success and Ownership

The head of engineering, Pradeep, has a strong desire to become successful after experiencing failure.

He has ownership in the company and has witnessed its growth from a thousand orders to 60,000 orders.

The speaker believes that hiring such individuals brings a different set of people to the team.

Emerging DNA: Frugality, Humility, and Hard Work

This section highlights the emerging DNA of Cure Foods, which is characterized by frugality, humility, hard work, and sincerity. They attract individuals who embody these values and believe that even if there may be some churn at entry-level jobs due to lower salaries, employees will carry these values with them.

DNA of Cure Foods

The emerging DNA of Cure Foods is defined by frugality, humility, hard work, and sincerity.

They attract individuals who resonate with these values during the interview process.

The speaker acknowledges that there may be some churn at entry-level jobs due to lower salaries but remains confident in the long-term benefits of instilling these values in employees.

Multiple Business Models: Cloud Kitchen, Offline Locations, Subscription Model

This section discusses the multiple business models employed by Cure Foods. They operate cloud kitchens with an assembly line approach for efficiency. Additionally, they have offline locations acquired through brand acquisitions and offer a subscription model called "Eat Fit" for discounts and special perks.

Cloud Kitchen Model

Cure Foods operates cloud kitchens using an assembly line approach for efficient operations.

While they have multiple brands on the customer side, internally they have only a couple of different kitchens.

Offline Locations

Through brand acquisitions, Cure Foods has acquired offline locations for their operations.

The speaker mentions that there are a couple of offline locations associated with the acquired brands.

Subscription Model: "Eat Fit"

Cure Foods offers a subscription model called "Eat Fit" which provides access to discounts and special perks.

This model is likened to an Amazon Prime platform, but specifically for Eat Fit.

XXXXs Uncertainty and Evolution of Cure Foods

This section explores the uncertainty surrounding the evolution of Cure Foods and how it has transformed into multiple business models. The speaker reflects on the journey and acknowledges that more discoveries will be made in the future.

Uncertainty in Path

The speaker mentions that initially, they were unsure about the direction in which Cure Foods would evolve.

Even now, they find it interesting that Cure Foods operates multiple business models simultaneously.

Reflection on Journey

The speaker acknowledges that more things will be uncovered regarding people's side of the business.

They highlight the emerging DNA of frugality, humility, hard work, and sincerity as what Cure Foods is known for currently.

Despite uncertainties, they express confidence in their values and believe employees will benefit from carrying these values even if they move on from the company.

Cloud Kitchen and Brands

In this section, the speaker discusses the cloud kitchen business model and the brands associated with it.

Brands in Cloud Kitchen

Eat Fit and Cake Zone are the two largest brands in the cloud kitchen, accounting for 60% of its volume.

Other brands like Sharif by Nomad Pizza and Frozen Bottle also contribute to the cloud kitchen volume.

These five brands make up 80% of the cloud kitchen volumes.

The cloud kitchens operate as an assembly line, where food is prepared in a central kitchen and then sent to various cloud kitchens for order fulfillment.

Subscription Business

This section focuses on the subscription business model within the company.

Subscription Business

The subscription business, called "Fit Days," is a significant part of their operations.

Currently, it accounts for about 5-8% of their overall business but is seen as a potential growth area for the future.

They have around 7,000-8,000 subscribers per day.

The goal is to build a customizable subscription platform similar to Amazon Prime, where customers can choose their meals per day.

Future of Cooking at Home

Here, the speaker discusses their belief that cooking at home will decrease in popularity over time.

Outsourcing Daily Food

The speaker believes that people will cook less at home in the future and instead outsource their daily food needs.

They see their subscription business as a way for customers to outsource their daily meals.

While currently only a small percentage of their business, they believe it has potential for growth.

Challenges of Cooking at Home

This section highlights some challenges associated with cooking at home.

Challenges of Cooking at Home

Cooking at home can be challenging and time-consuming, especially in small living spaces.

The speaker mentions the need to allocate space for cooking and the daily effort required to source ingredients and prepare meals.

They emphasize that there is currently no credible healthy food platform for home cooking.

Eat Fit Subscriptions

This section focuses on the eat fit subscription service.

Eat Fit Subscriptions

The eat fit subscription service aims to provide convenient and healthy meal options.

It offers a variety of Indian three-compartment platters, which are popular among subscribers.

While some customers may experience food fatigue, the speaker compares it to their own upbringing with limited dish options.

Restaurants Business

Here, the speaker discusses the restaurant business within their company.

Restaurants Business

Initially considered an ancillary business through acquisitions, they found success with Sharif by Vibriani, their largest Biryani brand.

Biryani is seen as an occasion for family outings and celebrations in southern India.

They have opened multiple locations across Karnataka and Tamil Nadu, focusing on offline dining experiences.

Nomad Pizza Strategy

This section highlights the strategy behind Nomad Pizza, a luxury pizza brand.

Nomad Pizza Strategy

Nomad Pizza is positioned as a luxury pizza brand with higher price points (1200 rupees).

It serves as a marketing strategy to attract attention and create curiosity among customers browsing online platforms like Zomato.

Currently, they have several locations across Delhi, Mumbai, and Bangalore.

New Section

In this section, the speaker discusses the challenge of catering to smaller cities and towns in India and explores different strategies for expansion.

Expanding to Smaller Cities and Towns

The speaker mentions that while there are many big cities in India, there are also around 250-300 towns with a meaningful population that need to be catered to.

They discuss the idea of using regional flavors like Biryani to cater to these smaller cities, but acknowledge that it may not work for all regions.

The speaker mentions experimenting with different formats such as takeaway or dining options similar to Subway or Cafe Coffee Day.

They mention having a bakery format where customers can buy bread, baked items, muffins, and tea cups.

New Section

In this section, the speaker talks about their experiments with different formats and products for expansion.

Experimenting with Different Formats

The speaker mentions trying out different categories with different brand names as part of their experimentation.

They mention having a bakery store where customers can buy bread and baked items.

Another format they mention is the HRX format, which is an online brand focused on eat-fit subscription category. They are also planning to bring it offline.

The first HRX store is being inaugurated by Hrithik Roshan in HSR layout.

New Section

In this section, the speaker discusses their experiments with rolls and wraps as a potential growth vector for expansion.

Rolls and Wraps Experiment

The speaker mentions that there is no scaled-up rolls and wraps player in the country despite having burgers, pizzas, chicken Chinese options available.

They highlight that rolls can be a convenient single-hand meal option with various fillings like gravy or cutlets.

They mention experimenting with 25 outlets in Bangalore for rolls and wraps, which has shown extraordinary results.

The success of this experiment will determine if it can become a big enough business to cater to the next hundred cities.

New Section

In this section, the speaker discusses the need for growth vectors beyond tier three cities and their plans for expansion.

Growth Vectors and Expansion

The speaker mentions that they are currently doing 60,000 orders in a city but believe they can do 200,000 orders in that city.

They express the need for growth vectors to continue their current growth rate of 50-70%.

They discuss the potential of expanding deeper into tier three cities and beyond to tap into the next 500 million users who are just starting to come online.

The speaker also mentions exploring outward expansion outside of India but does not provide further details.

New Section

In this section, the speaker talks about their strategy for each business vertical and their plans for international expansion.

Strategy and International Expansion

The speaker states that cloud kitchens will be an India-centric business, with plans to expand to more cities within India.

They mention having a meaningful presence in 18 cities currently and aim to grow it to 30 cities. Each city can have multiple cloud kitchens.

Subscription services like protocol subscriptions will focus on deeper penetration in top six cities where there is a large number of office-goers.

The speaker expects slow but steady growth in subscription services without any inorganic push. They aim to reach around 25,000 subscriptions per day in five years.

For restaurants, they plan to focus on the top 12 to 15 cities within India but see an opportunity for international expansion with brands like Sharif Bhai and Nomad Pizza.

The transcript is already in English, so there is no need to translate the headings or content.

The Next Three to Five Years

In this section, the speaker discusses the growth potential for the next three to five years and the challenges faced by internet companies.

The first three verticals are expected to drive growth in the next three to five years.

Many internet companies have experienced rapid growth followed by a plateau due to funding limitations and a lack of paying subscribers.

Companies need to identify the right products and channels to tap into the existing customer base in order to achieve significant growth.

Potential Market Size

This section focuses on the potential market size and target audience for expansion.

The speaker believes that there is a significant market potential in cities with populations ranging from 50 to 150 million people.

They estimate that around 400 million people live in these cities, with approximately 250 million residing in 100 specific cities.

To cater to this market, smaller formats with lower costs and cheaper price points are being developed.

Organizational Structure

Here, the speaker explains how their company is structured and organized.

The company has divided its business units (bu's) into different verticals.

Each vertical has its own brand head who serves as a product manager.

Horizontal functions support these verticals within the organization.

Balancing Growth and Profitability

This section explores how the company aims to balance growth and profitability while satisfying investors' expectations.

The key lies in maintaining sustainable growth rates.

In previous years, high growth rates were necessary for raising funds at high valuations. However, now stability is sought after.

The goal is to achieve 30% - 40% annual growth through new locations and same-store growth, which drives profitability.

Entrepreneurship and Future Plans

The speaker reflects on their entrepreneurial journey and future plans.

Entrepreneurship is a way of life for the speaker, who has been involved in various ventures.

They emphasize the importance of balancing intensity and daily rigor to avoid burnout.

Retirement is not the end goal; instead, they focus on continuous involvement and growth.

The transcript provided does not contain any timestamps beyond this point.

Finding Balance in Life and Entrepreneurship

Ankit Nagori discusses the importance of finding balance in life and entrepreneurship. He reflects on his own experiences and hopes for a better balance as he grows older.

Balancing Personal Life and Work

Ankit emphasizes the significance of maintaining a balance between personal life and work.

He spends time with his family, especially his son, to prioritize companionship.

While the intensity of entrepreneurship can be mentally challenging, it is physically better for him compared to previous experiences.

Ankit hopes to continue improving this balance as he ages and discovers new interests.

Importance of Personal Time

Ankit believes that having personal time should not be frowned upon by investors, partners, or employees.

As long as it does not hinder work or business operations, individuals should have their own time.

Entrepreneurship will remain a core part of Ankit's DNA, but he aims to find a good balance between work and personal life.

Long-Term Vision for Eat Fit

Ankit envisions running Eat Fit for many years to come.

He draws inspiration from successful Indian brands like Page Industries (Jockey) and Fevicol.

The goal is to make Eat Fit a stock with natural momentum that benefits from population growth and increased disposable income.

Future Plans

Once Ankit finds momentum with Eat Fit, he plans to delegate operational responsibilities to others.

He intends to partner with smart entrepreneurs in different models rather than actively starting up again after 10 years.

Restarting a business is considered the toughest part of the journey, so he wants to avoid that challenge in the future.

Favorite Brand at Cure Foods

Ankit reveals his son's favorite brand among all the Cure Foods brands and shares a special moment from his son's birthday celebration.

Son's Favorite Brand

Ankit's son's favorite brand at Cure Foods is Eat Fit.

He particularly enjoys the Culture Burger, which is a unique Indian-style burger without buns but with gravies instead.

Although it is a rare treat for him, he always chooses the Culture Burger when given the chance to order it.

Birthday Celebration

Ankit mentions that it was his son's birthday on the day of the interview.

They celebrated by ordering a cake from Cake Zone, and his son loved it.

Ankit requests the interviewer to wish his son a happy birthday.