New Delhi: Few tales of entrepreneurial triumph echo as resoundingly as that of Chandubhai Virani, who turned hardship into victory. When his first business venture failed, leaving him facing major financial difficulties, Chandubhai refused to give up. Instead, he saw it as a chance to start afresh. His success story demonstrates that with patience, hard work, and appropriate planning, one can overcome any obstacle and achieve great success.
Financial Difficulties
Chandubhai Hirani, the founder of Balaji Wafers Pvt Ltd, grew up in a farming family in Gujarat. He used to sell agricultural products and equipment during his first business which failed just two years later. Thus, he had to face financial difficulties.
Started New Business
Despite facing numerous difficulties, Virani didn't give up. Instead, he started a new business with more careful planning and commitment. Now, his company is worth crores of rupees and has expanded all across the country.
Started making homemade chips
Chandubhai Virani took on several small jobs, like fixing cinema seats, putting up posters, and vending snacks in a theater for Rs 1000 monthly to help his family financially. But he wasn't satisfied with these roles and chose to launch his own business instead. He started making homemade chips, which gained popularity among the public.
Founded Balaji Wafers Private Limited
Chandubhai borrowed Rs 1.5 lakh from a bank and started his potato waffle business by opening the first factory in 1982. As the factory prospered, he and his brothers founded Balaji Wafers Private Limited in 1992. The company could produce 6.5 million kilograms of potatoes and 10 million kilograms of salt daily. Today, Balaji Wafers is a top snack manufacturer in India, offering various products and having a strong distribution system.
Today, his company, Balaji Wafers, holds a 12 percent share in the Rs 43,800 crore snack market. It ranks as the third-largest snacks seller in India and had a turnover of Rs 5000 crore in March of last year. The company has 7000 employees, with half of them being women. They produce 3,400 kg of chips every hour.