The $4.5 Billion Spices Market in India | The India Opportunity Show: Akash Agarwal, Zoff Foods ft Shrishti Sahu
How Akash built Zoff Foods into a 200 Crore Spices Brand loved by Millenials
Hello everyone, welcome to The India Opportunity Show where you get a front-row seat to people building India’s future. We talk about unlocking the potential of the country with founders, investors, creators, and successful leaders from different fields to bring you real-life stories and behind-the-scenes of what it takes to be at the forefront of building the India Story.
The 20th episode of The India Opportunity Show is out now! You can watch it on YouTube or listen to it on Spotify or Apple Podcasts.
Our guest today is Akash, cofoudner of Zoff Foods, a new age spice brand which is disrupting the market. Zoff closed the last financial year at 100 Crores in revenue and plans to hit 160 Crores in this financial year. Akash’s story is quite interesting because he comes from a family business background in the steel industry but decided to venture out on his own as his interest lay in building brands. Zoff was started in 2018 with a manufacturing plant in Raipur and has experienced rapid growth on the back of quick commerce and marketplaces. They have innovated with techniques such as automated manufacturing and cold grinding and completely disrupted this $4.5 Billion dollar industry of India. And btw, did you know that India exports spices to over 180 countries across the globe? The future looks bright for Zoff as they continue on their path of rapid expansion and growth - and I look forward to learning more about the space with Akash today. We talk about various topics such as being a second generation entrepreneur, how life changed after shark tank and also about how should founders think about building consumer brands in India. Hope you enjoy the conversation!
Takeaways
Entrepreneurship can be inspired by family business experiences at a very young age.
Choosing the right industry and building a strong brand are crucial for success.
Online and offline channels both play important roles in business growth.
Product quality, branding, and customer retention are key factors for sustained success.
Participating in platforms like Shark Tank can provide valuable visibility and marketing opportunities. Building a successful direct-to-consumer brand requires a strong focus on e-commerce platforms.
Mindset and passion are crucial qualities for founders in the consumer brand space.
Category selection is important, and identifying gaps in the market can lead to success.
Building a strong team is essential, and mindset plays a significant role in hiring.
Raising funds comes with responsibilities and the need to prove the value of the investment.
Entrepreneurship in small cities is possible, but challenges may arise in hiring and accessing resources.
The startup journey requires continuous learning and adaptation to new processes and ways of operating.
Personal and professional goals should be balanced, and family time is important.
Listening to podcasts and learning from the experiences of other entrepreneurs can be valuable.
Aman Gupta, the founder of Boat, is a role model for Akash.
Starting something of your own and delivering it successfully is a source of pride.
Chapters
00:00 Introduction and Childhood Influences
04:15 Exploring Different Industries
08:10 Product Innovation and Packaging
11:36 Addressing Concerns about Spice Contamination
16:07 Transitioning from Online to Offline
20:52 Brand Story and Packaging
24:11 Early Branding and Onboarding Shilpa Shetty
25:08 Customer Retention and Product Quality
26:55 Scaling Strategies and Focus on Whole Spices
27:44 The Impact of Shark Tank on Zof's Growth
29:07 Building a Successful Direct-to-Consumer Brand
30:30 The Importance of Mindset and Passion in Entrepreneurship
33:38 Choosing the Right Category and Identifying Market Gaps
36:34 Building a Strong Team and Hiring Based on Mindset
41:28 The Responsibilities and Challenges of Fundraising
45:56 Entrepreneurship in Small Cities and Accessing Resources
50:16 Adapting to New Processes and Ways of Operating
53:46 Balancing Personal and Professional Goals
55:30 Role Models and Sources of Pride
Follow Akash here: LinkedIn
Follow Shrishti here: LinkedIn Twitter
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Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered financial advice. Viewers are encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.