#171 Journey of a Hospitality Entrepreneur | Devanshi Tripathi | TripGo Hospitality | Ashish Airon

** Description:**Join us on BlitzBusiness as we sit down with Devanshi, a dynamic entrepreneur who transitioned from a successful corporate career to conquer the competitive world of hospitality. Devanshi shares her inspiring journey, from her roots in Lucknow to building a thriving hospitality business in Bengaluru.**Key Moments & Timestamps:*** **00:00** - Introduction to Devanshi and her background.* **00:12** - Devanshi shares her journey from Lucknow to Bangalore and her corporate job.* **00:25** - The decision to start her own hospitality company, Tripgo Hospitality.* **00:41** - Discussing her love for pets and pet-friendly restaurant spaces.* **00:49** - What drew Devanshi into the hospitality industry.* **00:57** - Her previous experience in the EdTech and development sectors.* **01:23** - Why Bangalore's F&B culture inspired her to enter hospitality.* **01:40** - The initial exploration and research phase before starting her restaurant.* **02:20** - Acknowledging the challenges in the restaurant business.* **02:32** - Diving deeper into her experience in the EdTech industry.* **03:30** - How she got started in the current hospitality space.* **03:59** - Top 3 crucial things aspiring restaurateurs should know.* **06:06** - The importance of understanding licenses and permissions in hospitality.* **07:17** - The significance of having a good financial runway for a restaurant.* **09:15** - Hidden costs and considerations when creating a business plan.* **10:30** - The variations in licensing and "under the table" costs across states.* **11:46** - Discussion on various restaurant formats and their profitability.* **12:13** - Comparing the risk and profitability of different F&B formats.* **12:30** - Challenges and advantages of cafes vs. bars.* **13:08** - Highlighting opportunities in markets with less competition.* **13:36** - The importance of location specificity in India's F&B industry.* **14:38** - The challenge of acquiring liquor licenses and potential solutions.* **15:10** - Advantages of buying a property with existing licenses.* **16:05** - Understanding the deposit and rental costs for liquor licenses in Karnataka.* **18:31** - The concept of BYOB (Bring Your Own Bottle) and licensing requirements.* **21:12** - How BYOB formats generate revenue from food.* **21:28** - Why cloud kitchens are not as profitable for new entrants.* **22:58** - Devanshi's current hospitality ventures.* **26:10** - Identifying the most profitable format among her current businesses.* **27:26** - Why cloud kitchens may not be a great business for new entrepreneurs.* **28:56** - Cloud kitchens as an additional revenue stream for existing businesses.* **29:30** - The strategy behind restaurants running cloud kitchens from the same location.* **30:15** - Funding options for hospitality businesses in India.* **30:30** - Venture Capital interest in new restaurant formats.* **30:57** - The common misconception that leads to high failure rates in hospitality.* **31:41** - Why almost everyone dreams of opening a cafe or restaurant.* **32:26** - The importance of strong expertise in niche industries vs. hospitality.* **33:37** - Devanshi's top 3 favorite Pan-India restaurants.* **35:45** - Why she admires Booji Cafe from both customer and business perspectives.* **37:46** - The enduring appeal and success of The Big Chill Cafe in Delhi.* **39:41** - The importance of effective marketing, especially on Zomato.* **40:53** - Key takeaways and lessons Devanshi wished she knew earlier about marketing.* **42:40** - Her final advice for aspiring entrepreneurs in the hospitality sector.