Interviewer: Raamesh Chandra
In today’s edition of Indian Startup Times, we delve into the fascinating journey of Lokesh Krishnan, founder of Potful, a unique biryani brand that has captured the hearts and taste buds of many across India. Known for his dedication to authenticity and quality, Lokesh shares the story behind Potful and his vision for the future.
Raamesh Chandra: Lokesh, it’s a pleasure to have you with us today. Let’s start with a bit about your background and what led you to the founding of Potful.
Lokesh Krishnan: Thank you, Raamesh. I belong to Bhadravati in Karnataka, and my journey began in a middle-class family. My father was a driver, and my mother was a homemaker. After my graduation, I got placed with Amul, which marked the beginning of my career in the FMCG sector. Between my first job and joining Amul, I dabbled in entrepreneurship by buying and selling milk and tender coconuts, which was quite profitable. This early experience planted the seeds of entrepreneurship in me.
Raamesh Chandra: That’s quite an inspiring start. After Amul, you had a significant stint with Metro Cash and Carry. How did these experiences shape your entrepreneurial journey?
Lokesh Krishnan: My time at Amul and Metro was invaluable. At Metro, I was responsible for a substantial food business, and I treated it as if it were my own. This mindset helped me understand business deeply. Despite being successful in the corporate world, the urge to start something of my own never left me. In 2016, encouraged by my wife, I finally took the plunge to start Potful.
Raamesh Chandra: Potful is known for its unique approach to biryani. What makes your product stand out in a crowded market?
Lokesh Krishnan: Our approach is rooted in authenticity. We make every biryani fresh to order in traditional earthen handis. This method preserves nutrients and flavours, offering a distinct and hygienic product. Additionally, we cater to diverse regional preferences by offering various types of biryani from different parts of India, which sets us apart in the market.
Raamesh Chandra: The biryani market is huge in India. Can you share some insights into its size and growth?
Lokesh Krishnan: The food and beverage market in India is about $80 billion, with food delivery making up $5 billion of that. Biryani constitutes around 20% of this organized food delivery market. Including unorganized sectors, the market could be three times larger. The biryani market alone is approximately ₹25,000 crore and growing at 20-25% annually, indicating a significant opportunity ahead.
Raamesh Chandra: What were some of the biggest challenges you faced in the early days of Potful, and how did you overcome them?
Lokesh Krishnan: Entering the F&B sector from an FMCG background was challenging. Learning the nuances of running a cloud kitchen and making our brand known without a physical presence required innovative strategies. We were bootstrapped initially, which limited our marketing capabilities. However, focusing on product quality and customer experience helped us build a loyal customer base. We also faced financial constraints, but timely investment enabled us to expand.
Raamesh Chandra: How did you manage marketing and PR on a limited budget?
Lokesh Krishnan: Initially, our marketing was hyper-local and cost-effective, involving flyers and pamphlets. We focused on delivering an excellent product that encouraged repeat business. While we didn’t actively pursue PR, organic recognition from platforms like YourStory and awards have helped us gain visibility.
Raamesh Chandra: Lokesh, thank you for sharing your journey. Your story is a testament to the power of persistence and innovation. We wish Potful continued success.
Lokesh Krishnan: Thank you, Raamesh. It was a pleasure sharing my story with you. I hope it inspires others to pursue their entrepreneurial dreams.
