Why MBA chaiwala is now renamed as “panoti” in India ?
There are so many reasons that affect the franchise model – mismatched expectations , lack of capital , poor location , fake promises and under delivery.
Praful Billore founder of MBA chaiwala enjoyed great popularity and respect amongst youth , main reason to enter the mindset of the youth was the motivation speech he gave on his platforms , and other motivational speakers platform.
People who paid 30-35 lacs to get mba chaiwala franchise are now filing FIR against him , not only because of inappropriate strategy , but because of fake big talks as well. False claims and promises of revenue earning , this Indian franchise model experienced downfall or losses in past & present.
Main reasons for downfall –
- Fake promises & under delivery
Mr. Praful billore made bogus claims & promises as to each franchise will make a sales of INR 10,000 per day , but in reality the sales are just INR 500-600 per day.
- Non – Maintenance of quality
The company was unable to retain the level of quality , thus people stopped visiting their outlets , many stores shut down.
- Not keeping in mind competitors
It is good if you are a self believer , but when it comes to business model , taking in view the competitors is also the priority, the company demise resulted from the brand inability to compete with its rival.
There are so many reasons that affect the franchise model – mismatched expectations , lack of capital , poor location , fake promises and under delivery.
It is advised to take expert guidance and don`t play with hard earned money of public.
