How to Start a Food Business in 2025-26: Franchise vs. Own Brand | Ajay Mariwala | Anupam Gupta | Paisa Vaisa

2025-12-08

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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.

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.

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

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