An interactive session conducted with the FROOOSH ‘owners’
Why did you start your business? Was it by choice or chance? What is the story behind it?
From our perspective business is all about making choices. The important fact is looking at the right places and the right time to uncover these choices. FROOOSH was an accidental choice which turned out in a very interesting way! The business idea was born out of a casual discussion about our love for food and the options available in the campus. That is when we realised we need something different which will not only bring in the desired response but also help in making the offerings at the cafeteria and the mess complete! The idea was not to compete but to fit in and we did that pretty well.Anubhav Goyal, Dibyanshu Tripathi, Ilamurugukailasam, Kapil Batra ,Pragya Trivedi and Rakesh Palanimuthu comprise of the team behind FROOOSH. We all have very dynamic roles but it’s the friendship which binds us all together, and that is the spirit of FROOOSH.
Why have you chosen this business?
Food is something which never goes out of fashion. It is more a necessity rather the sole source of survival, and the idea was to introduce something which would carve us our own target customers. What FROOOSH has done, is that it has instilled in the minds of the customers that variety and value can exist in very simplistic manner. So, when we serve the juices and shakes and get reviews by our peers, it very much justifies the reason for doing this business, i.e. providing a pocket friendly variety to the community of students.
How much was your initial capital? How did you arrange funds?
The initial capital employed was between 16 -17,000, which was brought in by the members themselves. However the college also provided a fund of 25,000. The idea was to ensure smooth functioning of the business for the initial months and then bring in more funds to streamline the business, while also introducing newer offerings.
Did you do any market research before you started? How did you gather proof that your idea will work?
For any business to succeed reviewing the idea is very important, our approach was simple. Go to the prospective customers and ask for their take on it. We held a number of meetings within group, we took the suggestions of the professors and then we went ahead and pitched the ideas amongst the student’s community, and on seeing the positivity with respect to the idea, we decided that it is a GO!
Any problematic situation that you faced? What actions did you take and why?
One of the major challenges has been standardising the menu. We not only have to look at the choices which the customers want and we can offer but also at the factor as to if introducing a particular offering will corrode the share of our already existing offerings. This is a constant challenge and every business I guess goes through a similar feeling. We, as a team generally experiment by introducing limited menu offers on a particular day ensuring not two similar products are offered on the same day.