The Story Of A Successful Chocolate Business:
This is the story of a family who are very passionate about chocolates. In the year 2009, the family were looking out for a certain type of home made chocolates and failed in finding some good shop in Bangalore. That is when, they realised, it might not be just their problem, but many others’ too. They also understood that, it was very difficult for chocolate lovers in Bangalore to procure chocolates from various parts of the world. This was the time when e-commerce was not at its peak and people had no faith in the internet. This is when they decided to venture into retail chocolate business with a vision of bringing the world’s best chocolates under one roof and called it “Choco World”. Its now a successful chocolate business story.
Whenever I go to this shop to buy chocolates, I get lost in the variety. They have an ocean of chocolate collection. And if you are wishing to gift your loved ones something special, this is the one stop shop for you.
Being a regular customer to Choco World, I got to interact with one of the founders – Mr.Amit Sachdev. I got to learn a lot from him in terms of chocolate business and running challenges. He said, “Making customer happy is the only way to become successful in business”. Starting a store completely dedicated to chocolates was a new concept 9 years back and was the first of a kind store in Bangalore. Being very optimistic about the concept and also being a chocolate lover himself, got the chocolate business to great heights. They have been in the business since a decade and going strong with several happy and repetitive customers. All new customers to this store are referred by their old customers. New customers in turn refer still more new customers. In “Choco World”, once a customer, you are their customer for life.
In order to increase customer retention and satisfaction, they are open on all 7 days of the week. Business Owner, Amit says, “Having cravings for chocolates depends on the mood. And we are there on all 7 days to make sure our customers gets chocolates when their mood demands it”.
Quick Look Into Their Successful Chocolate Business:
Business Name: Choco World
Business Owners: Jagdish Sachdev(Father), Amit Sachdev(Son), Kanak Sachdev(Daughter-In-Law)
Location: Jayanagar, Bangalore
Industry Type: Chocolate Retail Business
Items sold: Variety of chocolates for all occasions from across the globe
Waiting Time For Availing Service: Immediate. Customer will spend time in selecting chocolates among the wide variety. You might get lost in the ocean of chocolates.
Timings: 11:00 am to 10:00 pm
Customer Interaction: Good ( Ratings: 3 / 5 ).
Unique Selling Point: All kinds of chocolates ( Home-made, Factory Made) from across the world under one roof. Customisation & Occasion based specialization
Strange Fact: When it comes to chocolates, You name it, they have it.
- Being in a chocolate business that sells perishable items (that has a shorter expiry date), it is very important to clear the stocks before the marked expiry date.
- Pilferage by customers. Few have been caught red-handed and many on CCTV cameras.
Customer Type: Chocolate lovers and addicts of all age groups
Customer Relationship After Sale: Nil.
Business Inspiration: No one as such. Draws inspiration from family culture (Sindhis) which predominantly focuses on family businesses.
Marketing Strategy: Word of mouth publicity. Active on social media.
Any Scaling Plans (If No, Why ?): Yes. 2 branches in Jayanagar alone. Franchisee options available for this chocolate business strictly for passionate chocolate lovers.
Number of Employees: Founders alone run the show
Learnings from this Successful Chocolate Business:
- Customer satisfaction is the key. Smart business owners know the importance of making customers fall in love with them – it is more than customer satisfaction. That is the reason they stay on the top of their businesses. Without happy customers, your business cannot thrive. Happy customers can ‘make’ your business and unhappy customers will ‘break’ your business. Happy customers praise about your product/service offerings to others. Unhappy customers bad mouth about you to much more people than you can expect. So here are few tips to make your customers fall in love with you – The secret of customer satisfaction and beyond.
- Being specific about a particular product/service sets you apart as a brand. Several business fail to leave a positive mark on the customer’s mind as they fail to create a respected brand about their business. They will try to be good at everything. Though, such businesses might make money, they will not be remembered as a successful brand. For examples, selling shoes of all brands, selling watches of all brands and selling cloth materials of all brands in a single shop does not make you either a cloth shop, or a shoe shop or a watch shop. Though it has worked with several big brands, I strongly feel you need enough investments to build such a product mix shop. Shoppers Stop is an example for such huge product mix shop.
- To create a new market that did not exist before is a herculean task in itself. It requires guts to start something that is not market tested before. Still, my appreciation to the founders for their strong belief in their passion to start the chocolate business.
Hope you enjoyed reading this successful chocolate business story. If you run a business that can be an inspiration to other fellow entrepreneurs, you can write to me at email@example.com or comment below. I will publish it on BusyMonk.com.
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