The owner of a popular ice cream chain has revealed how much it cost him to open his first outlet in Bengaluru. Pradeep Kannan quit his stable and well-paying job at Oracle India in 2019 to launch The Falooda Shop. In six years, the small ice shop shop has grown to well-known chain with 18 outlets across India and Dubai.
In a post shared on the social media platform X, Kannan revealed how much it cost to open the first outlet of The Falooda Shop in Bengaluru.
A breakdown of the cost
The NIFT graduate revealed that setting up the first Bengaluru outlet required an investment of around ₹22 lakh, which included a rental deposit of ₹2.4 lakh, licences and registrations costing ₹60,000, and basic equipment worth ₹2 lakh.
A further ₹10 lakh was spent on furniture and interiors. He also invested ₹3.2 lakh in initial raw materials and packaging, ₹80,000 towards staff salaries for the first month, and ₹1 lakh on branding and the launch.
Kannan said he maintained a working capital buffer of ₹2 lakh instead of the initially planned ₹3 lakh.
{{/usCountry}}Kannan said he maintained a working capital buffer of ₹2 lakh instead of the initially planned ₹3 lakh.
{{/usCountry}}Altogether, it cost him roughly ₹22 lakh to open an outlet in Bengaluru. “You don't need fancy interiors. You need repeat customers,” wrote Kannan.
Quitting Oracle job
In a post shared last year, Pradeep Kannan had confessed that people laughed at him for quitting his job at Oracle to open an ice cream shop. However, his entrepreneurial venture has paid rich dividends.
“People laughed at me for leaving my job. I had the perfect 9-to-5 — I was the Operations Head at Oracle India, earning a good salary and enjoying a beautiful family life,” Kannan said in his post.
“Society said I was settled. But something inside me wasn’t satisfied. So, in 2019, I did the unthinkable: I left Bangalore and moved back to Karur, a small town in Tamil Nadu, to sell Falooda ice cream,” he added.
(Also read: Techie quits Oracle in Bengaluru to sell Falooda, builds 18-outlet ice cream brand across India and Dubai)