Mumbai.During their college days, three friends Ashvjit Singh, Ajit and Arman Sood were very upset to drink good coffee. But they did not consider it a problem, rather they made it a new source of income. Yes, this is where they got the idea of their business Mila And they decided to make making good coffee easier. In 2016, this trio turned the idea of making coffee into a business and started a cold brew coffee startup named Sleepy Owl. Let’s know about their journey…
Let us tell you that in the last two years, the growth of his company has been more than 100 percent. While tea is the most preferred beverage in India, coffee is also gradually becoming a popular choice. In such a situation, this is the right time to bring new flavors and formats.
This is how it started-To set up a setup like Sleepy Owl, he initially raised Rs 12 lakh from his savings and family. With the funding of Rs 3.5 crore received from DSG Partner, his business started growing rapidly. Sleepy Owl has currently reached more than 25 thousand customers. The company is recording 100 percent growth on a year-on-year basis and Sleepy Owl aims to increase its retail store presence from the current 100 stores to 1000 in two years. The company has a future plan to establish itself as a unique brand in people’s homes and offices. Therefore, the company is working on bringing new flavors.
This is how it increased its reach – To deliver its products to customers, Sleepy Owl works on B2B and B2C platforms. The company sells products on Amazon along with its website. For B2B, along with delivering its products directly to cafes and restaurants, the company also signs agreements with corporate offices, so that the work of building brand value can be done from all sides. Sleepy Owl is currently present in KPMG, Comic Con on a pop up basis. In the retail market, Sleepy Owl is present in large retail stores like Foodhall, Modern Bazaar as well as local shopping stores.
This is how tasty coffee is prepared- Sleepy Owl uses Arabica beans for cold brew coffee. To make instant cold brew coffee, farm fresh beans are ground and brewed for 20-24 hours. The specialty of Sleepy Owl coffee is that heat is not used to make it. This reduces both the bitterness and acidity of the coffee and the flavor of the coffee improves. The company delivers coffee to customers in two types of packaging, self-brew and ready to drink.
Income-The company’s revenue comes from these many platforms, although the online model contributes 60-70 percent. To increase brand loyalty, the company has also started a subscription model, in which coffee is delivered every 7 or 15 days. The company’s unique name and special packaging have also played an important role in making the product different.
Tags: Startup Ideas, Success Story, Successful Businessman
FIRST PUBLISHED : October 1, 2020, 10:09 IST