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Among the biggest sauce and mayonnaise brands in India, Veeba was started by Viraj Bahl in 2013, after he failed at his restaurant business after putting in five years of hard work. The entrepreneur recently shared his journey of taking the risk of starting Veeba after losing all his money in his previous business. The situation was such that he had to sell his wife’s house, and didn’t have the money to pay salaries, with zero orders for the first two years.
While sharing his journey with Shark Tank, Viraj Bahl said, “After the restaurant business shut down, I was completely broke. There was no money. When I thought I want to get into the sauce business, I went to my wife and said, ‘Riddhima, I want to sell our house and start a business in making sauce’. Not many spouses agree to a decision like this, but she didn’t take even 30 seconds to agree to what I wanted to do. She said, ‘If this is your passion, let’s do this.’ This is how the startup money for Veeba came. So I sold my wife’s house and began the business in my mother’s name.”
He added, “The first two years of Veeba were very challenging for me. Any founder gets shaken when he realises he doesn’t have the money to pay salaries. I had started a huge factory, but couldn’t bring in the business. I had spent all my money in this. Our first order had come two years after I started the company. Dominos approached us for about 70 ton sauce.”
Viraj shared that he learnt to hire people more capable than him to run his business. He said, “After a point your business is limited to your ideas if you don’t hire people better than you for execution.”
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