Is Chaayos New Indian Starbucks? Multi Million Business By Selling CHAI | Figuring Out 54


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Hi Guys! In this latest episode of Figuring Out Podcast we are in conversation with Nitin Saluja and Raghav Verma, Co-Founder of Chaayos and we have discussed:
-How to kill competition?
-How to build a brand and what brands can learn from legendary brands like Apple and Co-Cola?
-How Chaayos became India's first technology enabled chai business?
Chaayos – “Experiment with Chai is” is one of the fastest growing tea startups of India. Chaayos is an initiative by two techies – Nitin Saluja and Raghav Verma graduated from IIT Bombay and IIT Delhi respectively. Before the foundation of Chaayos, they used to work in a US consulting firm Opera Solutions. Nitin, for the matter of fact, was always a chai freak.
During this phase, Nitin met Raghav Verma through a friend in common who was also working for the US consulting firm Opera Solutions. They both shared the idea and were convinced to kick it off this craziest idea on the floor of entrepreneurship. They both quit the top paying US based IT job and gave their every ounce of blood to their startup. They named their startup – CHAAYOS and the first outlet store was opened in November 2012 in Gurgaon.
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00:00 - Introduction
01:57 - How do bots make chai at chaayos?
03:24 - Thandi Chai at Chaayos
04:03 - How do you make people try new stuff?
04:42 - How to convince people buy something super premium
06:29 - How to make a brand in an extremely competitive market?
08:24 - First step to build a mass premium brand
10:59 - What matters the most when starting a store?
12:08 - Why do people love Chaayos?
15:51 - Why do customers keep coming back to some brands?
18:36 - Why technology over human labour?
20:07 - How to convince VC for funding?
22:01 - US vs Indian Customers
23:11 - Are people price sensitive in India?
24:58 - Is Chaayos going global?
27:24 - 3 essential elements to build a brand in India?
35:23 - Are you opening chaayos in any new city?
37:08 - How to build a brand?
39:39 - If I am your customer, what do you want me to spread out in the world?
40:18 - What do you want your employees to spread out?
40:50 - How do you learn all this?
43:45 - Which brands inspired you the most?
46:14 - Next big opportunity in India?
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About Raj Shamani
Raj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space.
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About Figuring Out
Figuring Out Podcast is a Candid Conversations University where Raj Shamani brings raw conversations with the Top 1% in India
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