Did you know that the addictive McDonald's Piri Piri mix or the Sour Cream & Onion flavor of Balaji Wafers were created by the man sitting in this chair? 🍟😲

In this episode of Paisa Vaisa, Anupam Gupta sits down with Ajay Mariwala, the visionary behind VKL Seasonings and Food Service India (FSIPL). Ajay is the "Secret Sauce" of the Indian food industry—literally! He shares the untold story of how his team beat global multinationals by a "mile and a half" to become India's #1 seasoning company.

From flying to Valsad to pitch a new flavor to the owners of Balaji Wafers to turning his mother's pickle recipe into ITC Bingo’s iconic Achari Masti, Ajay reveals exactly how billion-dollar flavors are invented.

We also dive deep into the brutal reality of the restaurant business. If you dream of opening a cafe, you need to hear Ajay’s "Head vs. Heart" advice , why 35% is the magic number for food costs , and the unique "Toilet Test" you must do before buying a franchise.

Takeaways


The Creator of Icons: Ajay’s team is responsible for creating the McDonald’s Piri Piri mix and Balaji Wafers’ Sour Cream & Onion flavor, beating global competitors.


The QSR Golden Ratio: For a Quick Service Restaurant to be viable, food costs must stay between 33-35%. Rent should always be the second highest cost, not the first.


Head Over Heart: Don't open a restaurant just because you love food. You need a 24-month cash runway because most restaurants fail in the first 9 months due to quality inconsistency.


The "Toilet Test": The best way to judge a franchise's operational discipline isn't the food—it's the hygiene. If the toilet is clean, the kitchen is likely clean too.


The Tier-2 Opportunity: Expansion in major metros (Mumbai/Delhi) is slowing due to high rents and saturation. The real ROI is now in Tier 2/3 cities where rents are 8-12% (vs. 15-20% in metros).

From decoding your personal finances to demystifying business models, Paisa Vaisa delivers candid, insightful, and jargon-free conversations.

Listen on Spotify, Apple Podcasts, Amazon Music, JioSaavn, Gaana & more 
Watch full episodes right here on YouTube 
Explore more at ivmpodcasts.com 

Connect with Anupam Gupta: 
Twitter: @b50 
Instagram: @b_50 
LinkedIn: Anupam Gupta 

Follow IVM Podcasts 
We’re @ivmpodcasts on Facebook, Twitter & Instagram

Did you know that the addictive McDonald's Piri Piri mix or the Sour Cream &amp; Onion flavor of Balaji Wafers were created by the man sitting in this chair? 🍟😲
In this episode of Paisa Vaisa, Anupam Gupta sits down with Ajay Mariwala, the visionary behind VKL Seasonings and Food Service India (FSIPL). Ajay is the "Secret Sauce" of the Indian food industry&mdash;literally! He shares the untold story of how his team beat global multinationals by a "mile and a half" to become India's #1 seasoning company.
From flying to Valsad to pitch a new flavor to the owners of Balaji Wafers to turning his mother's pickle recipe into ITC Bingo&rsquo;s iconic Achari Masti, Ajay reveals exactly how billion-dollar flavors are invented.
We also dive deep into the brutal reality of the restaurant business. If you dream of opening a cafe, you need to hear Ajay&rsquo;s "Head vs. Heart" advice , why 35% is the magic number for food costs , and the unique "Toilet Test" you must do before buying a franchise.
Takeaways
<ol data-indent-level="1">
<li>
The Creator of Icons: Ajay&rsquo;s team is responsible for creating the McDonald&rsquo;s Piri Piri mix and Balaji Wafers&rsquo; Sour Cream &amp; Onion flavor, beating global competitors.
</li>
<li>
The QSR Golden Ratio: For a Quick Service Restaurant to be viable, food costs must stay between 33-35%. Rent should always be the second highest cost, not the first.
</li>
<li>
Head Over Heart: Don't open a restaurant just because you love food. You need a 24-month cash runway because most restaurants fail in the first 9 months due to quality inconsistency.
</li>
<li>
The "Toilet Test": The best way to judge a franchise's operational discipline isn't the food&mdash;it's the hygiene. If the toilet is clean, the kitchen is likely clean too.
</li>
<li>
The Tier-2 Opportunity: Expansion in major metros (Mumbai/Delhi) is slowing due to high rents and saturation. The real ROI is now in Tier 2/3 cities where rents are 8-12% (vs. 15-20% in metros). From decoding your personal finances to demystifying business models, Paisa Vaisa delivers candid, insightful, and jargon-free conversations. Listen on Spotify, Apple Podcasts, Amazon Music, JioSaavn, Gaana &amp; more Watch full episodes right here on YouTube Explore more at ivmpodcasts.com Connect with Anupam Gupta: Twitter: @b50 Instagram: @b_50 LinkedIn: Anupam Gupta Follow IVM Podcasts We&rsquo;re @ivmpodcasts on Facebook, Twitter &amp; Instagram
</li>
</ol>

Paisa Vaisa is India's premier podcast on personal finance, boasting over 4 million downloads, featuring over 200 hours of insightful content and discussions, hosting more than 250 guests, and presenting a wealth of knowledge through over 450 episodes. Since 2017, Paisa Vaisa hosts experts from mutual funds, stocks, real estate, loans, education financing, insurance, and much more. It has recently introduced a sub-series offering valuable insights in businesses and entrepreneurship.

You can catch this podcast on YouTube 'Paisa Vaisa with Anupam Gupta' or find it on top audio streaming platforms like Apple Podcasts, Spotify, Amazon Music, Google Podcasts, JioSaavn, Gaana, and others.

Paisa Vaisa is India's premier podcast on personal finance, boasting over 4 million downloads, featuring over 200 hours of insightful content and discussions, hosting more than 250 guests, and presenting a wealth of knowledge through over 450 episodes. Since 2017, Paisa Vaisa hosts experts from mutual funds, stocks, real estate, loans, education financing, insurance, and much more. It has recently introduced a sub-series offering valuable insights in businesses and entrepreneurship. You can catch this podcast on YouTube 'Paisa Vaisa with Anupam Gupta' or find it on top audio streaming platforms like Apple Podcasts, Spotify, Amazon Music, Google Podcasts, JioSaavn, Gaana, and others.

The Paisa Vaisa podcast helps you understand all things money so that you can make well-informed financial decisions. Understand the basics every week as host, Anupam Gupta, talks with experts across a wide spectrum of the banking and financial services

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