Meet Mihir Desai (Co-Owner -The Bar Stock Exchange), mind behind India’s first stock market-based pub chain.
The Bar Stock Exchange is India’s first stock market-based pub chain where the drink prices change based on real-time and demand. It is one of the most technologically advanced bars in India, where customers can place an order via a specially developed app. That app lets you monitor prices and order in real time. Customers can compete with each other and the system to score the best prices on their choice of drinks. The brand has taken the nation by storm and has become the ‘place to be’ for revelers & also being added on the ‘must-go-to’ list of foreign expats & tourists alike. This ultra successful chain was started by Amit Singh and Mihir Desai.
StartupEd spoke to the mind behind this unique bar that combines the experience of trading and drinking. Read the exclusive interview with Mihir Desai, Owner of TBSE below.
Q. Tell me a little bit about your background.
I come from a business background, which is why starting my own entity came naturally to me. Also, since I am a Gujarati, business runs in the blood.
Q. How did you arrive at the idea of your venture?
I have been in the business for 14 years. I have worked with brands like Monza, Aziano, Masala Zone and Big Bang. They have been a part of my journey, teaching me the needs and demands of this market. All my past experiences made me realize that the Indian market is always willing to experiment with things that are unique.
Q. What have been the toughest challenges you’ve faced so far, what has been your biggest success?
Building our software was definitely the biggest challenge for us.
Q. Contrary to what people believe, having competition is not always a bad thing. It plays a crucial role in validating your business idea. Tell me about your competitors.
Well, we have a lot of competition. Everyone that sells alcohol is our competition, from a retail wine store to a 5-star Hotel.
Q. Do share the details of the investment you raised, if applicable. What were the challenges in dealing with VCs?
We didn’t raise any funds. We are self-funded.
Q. What is that one advice you would like to give to all the entrepreneurs who will be reading this interview on StartupEd?
Never fear anything or lose hope when you face failures and keep experimenting!