Abhijeet Anand, the creator of abCoffee, who quit a well-paying position with a salary of Rs. 1.3 crore to create his own company.
Goal-achieving requires unwavering commitment to your dream and genuine willpower. While many people settle into their careers after receiving excellent pay packages, others aspire to more. One such businessperson is Abhijeet Anand, the creator of abCoffee, who quit a well-paying position with a salary of Rs. 1.3 crore to create his own company.
Who is Abhijeet Anand?
Abhijeet Anand founded his firm in Mumbai with the goal of changing the coffee industry and making excellent coffee accessible to all of the country's coffee drinkers. abCoffee began operations in 2022 and presently has seven locations in Mumbai. It will soon establish its first location in Delhi.
Abhijeet Anand, an IIT Dhanbad alumnus who established abCoffee, claims to have become 'coffee person' while working overseas and desires to bring similar pleasure home to India. Anand, a Bihari native, worked in the petroleum sector before starting his coffee business.
Anand stated, "I was employed in the oil sector in Romania and earning 160,000 dollars (about Rs. 1.3 crore) annually. There, I had a peaceful life. In 2021, I returned to India in order to help the nation," according to Zee News. Anand obtained a diploma in business law and entrepreneurship from the West Bengal National University of Legal Sciences. He then completed a master's degree in political marketing at the Rome Business School. Following that, he received his Pertoleum Engineering degree from IIT Dhanbad.
READ | Meet the IITian who leads Rs 87,351 crore company, son of richest man in West Bengal
How was abCoffee founded?
Anand claimed that after being back in India in early 2021, he was paying out between Rs 20,000 and Rs 25, 000 on coffee each month. This prompted Anand, who returned to India with the intention of launching his own firm, to consider coffee from a commercial standpoint.
Anand claimed that one of the main problems he encountered was the cost of coffee, which was between Rs 250 and Rs 300 for a cup of cappuccino. As a result, Anand claimed that making abCoffee inexpensive was a top priority. abCoffee provides all the traditional blends including Americano, Latte, Flat White, Iced Latte, Irish Cold Coffee, etc. for affordable prices as compared to other upscale specialty beverage businesses.
According to YourStory.com, abCoffee purchases its green beans straight from farms in Chikkamagaluru to guarantee that clients receive the highest quality product at competitive pricing. With a 69% client retention rate over the course of eight months, the firm claims to have provided over 28,000 cups of coffee, YourStory.com reported.
According to Anand, abCoffee generates Rs 1.8 crore in yearly income, with deliveries and takeout accounting for 80% of total sales. A number of angel investors and a venture capital firm contributed $300K (Rs 2.4 crore) to abCoffee in December of last year.
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