New Delhi: Few stories of entrepreneurial triumph are as memorable as Chandubhai Virani’s, who turned adversity into victory. When his first business venture failed, leaving him with significant financial difficulties, Chandubhai refused to give up. Instead, he saw it as an opportunity to start over. His success story demonstrates that with patience, hard work, and proper planning, one can overcome any challenge and achieve great success.
Financial Difficulties
Chandubhai Hirani, the founder of Balaji Wafers Pvt Ltd, was raised in a farming family in Gujarat. He used to sell agricultural products and equipment in his first business, which failed two years later. As a result, he encountered financial difficulties.
Started New Business
Despite numerous challenges, Virani did not give up. Instead, he launched a new business with more forethought and dedication. Now, his company is worth crores of rupees and has spread throughout the country.
Started Making Homemade Chips
To support his family financially, Chandubhai Virani took on several small jobs, such as fixing cinema seats, putting up posters, and vending snacks in a theater for Rs 1000 per month. But he was dissatisfied with these positions and decided to start his own business instead. He began making homemade chips, which became popular with the public.
Founded Balaji Wafers Private Limited
Chandubhai borrowed Rs 1.5 lakh from a bank to start his potato wafer business in 1982, when he opened the first factory. As the factory grew, he and his brothers established Balaji Wafers Private Limited in 1992. The company could produce 6.5 million kilograms of potatoes and 10 million kilograms of namkeen per day. Today, Balaji Wafers is a leading snack manufacturer in India, with a diverse product line and a strong distribution network.
Today, Balaji Wafers has a 12% share of the Rs 43,800 crore snack market. It is the third-largest snack seller in India, with a revenue of Rs 5000 crore in March of last year. The company has 7000 employees, half of whom are women. They produce 3,400 kg of chips per hour.