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Seminar on scaling up your business Day 2 highlight of Bakery Business
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Friday, 21 November, 2014, 08 : 00 AM [IST]
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Libin Chacko Kurian, Mumbai
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fiogf49gjkf0d One of the Day 2 highlights at the 2014 essay of Bakery Business was a seminar titled ‘Scaling up your business’, co-organised by Hospitality First and The Indus Entrepreneurs (TiE).
Industry leaders spoke about building the right strategies to scale up business and adopting a practical approach in marketing. It was divided into two sessions (namely scaling up strategies and digital marketing).
Venkatesh Iyer, managing director and chief executive officer, Goli Vada Pav, said, “Inspiration is the basic thing needed to increase your business in front of a large population. But it needs a good business idea to take it forward.”
“Don’t go by form, but by content, as customers need products, not good-looking products. It is extremely to have quality products, and if we can connect the products with people, it can deliver good profits and help you develop and expand,” he added.
“We should have a clear idea while offering a service or product to the consumers. Our products should be based on where and to whom we are supplying, convenience and, most importantly, be convincing for ourselves,” Iyer said.
“There are so many Indian products waiting to get branded. Small entrepreneurs have the potential to capture opportunities and develop their businesses by branding them in the public domain,” he added.
“Adopting a focussed strategy with consistency in quality and supply can develop loyal customers, which serves for further exploration. Reducing wastage and standardising products can deliver positive results, as they help mould the brand behaviour,” Iyer stated.
Sneh Jain, founder, The Baker’s Dozen, said, “Understanding your consumers and developing your capacity according to the demand are the bases on which a successful business firm is built.”
“The scaling up of a food business depends on the growth witnessed and profitability of a business. Taking enough time to analyse the market and consumers you have would allow you to draw a clear map to scale up your business,” he added.
“The owner of a bakery business should ensure that every outlet or store is making money. One can use proper technology and product consistency to ensure demand in the market,” Jain said.
“Consumers are different in different regions. So the outlets should also have the capacity to adapt to the changes and differences in those regions,” he added.
The event also featured a live bakery theatre by Sandeep Pande, executive chef, Renaissance Mumbai. He prepared desserts. It was organised by KitchenAid.
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