Maharashtra: Childhood Friends Lose Jobs During COVID-19, Start Meat Venture And Sell It For Rs 10 Crore

The Covid-19 pandemic triggered one of the worst job crises in the world. As resultant lockdowns brought economic activities to a halt, millions of people across the globe including India, lost their jobs.

Akash Mhaske and Aditya Kirtane, like so many others, also found themselves out of their jobs. The childhood friends, from Aurangabad, Maharashtra, who went on to become engineers had spent the first month of the Covid-induced lockdown watching movies. However, as restrictions continued, they were both laid off by their respective employers.

Childhood friends lose job, start meat venture

The normal step after being unemployed would have been to start applying for jobs, but they decided to start their own business.

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The duo read books on successful businesses, which cemented the decision. But they were not sure of what exactly to do. However, a vocational training course on meat and poultry processing conducted by a local varsity was the turning point in Akash and Aditya's lives.

The business idea was to enter the highly unorganised meat market with a credible offering to retail consumers on demand.

The idea wasn't something that would spark excitement, and the budding entrepreneurs did not receive full support from their families initially.

Representational Image/Jon Sullivan

"Our families initially thought that no one would marry us because of the nature of work we are doing. Later they stood with us," Aditya Kirtane told PTI.

The duo started their business from a 100 sq ft space in their neighbourhood with a seed investment of Rs 25,000 managed by friends from their savings. While their venture 'Apetitee' didn't make strong inroads in the market early on, it gradually grew and now does a turnover of over Rs 4 lakh a month.

While the business continued to gain traction, it also got spotted by Fabi Corporation, another city company.

Childhood friends sell meat venture for Rs 10 crore

Fabi has bought a majority stake in Apetitee for Rs 10 crore recently, and the company's co-founders Kirtane and Mhaske will continue to be with the brand with minority stakes.

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"The profit margin they work with is 40 per cent. Selling meat is an entirely unorganised segment in Aurangabad," Fabi's director Fahad Syed told PTI.

Syed said after the deal, the brand name "Apetitee" will continue, and they will introduce newer products like pre-marinated products. A slew of investments have also been planned, he added.

As per Syed, the company is looking to make its presence felt beyond Aurangabad into other tier-II and tier-III cities of Maharashtra.

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