“Transitioning from selling Idli on the streets post IIM Ahmedabad ridicule to building a business earning over Rs 50 Crore annually, Divya and Raghav’s journey serves as an inspiring tale for those aspiring to achieve significant success independently and embrace life’s challenges.”
Despite achieving considerable success in life, certain individuals persist in their pursuit of entrepreneurial endeavors, driven by the desire to create something unique and avoid working for others. These individuals trust their instincts, embrace life’s uncertainties, and accomplish feats that set them apart from others.
Divya Rao, born into a lower-middle-class family with a monthly pocket money of just ₹1000, demonstrated unwavering determination. Despite financial constraints, she achieved the remarkable feat of becoming a Chartered Accountant at the age of 21 and later pursued an MBA in finance at IIM Ahmedabad.
Reflecting on her upbringing, Divya shared, “I was very cautious with money during my upbringing, aware of my family’s financial challenges. Waiting a week to afford a single egg puff was a norm. Recognizing our lack of assets, I understood the importance of studying to secure a financial future for my parents. Despite the challenges, I worked hard to become the first Chartered Accountant in my family, commuting multiple buses for tuition.”
During her time at IIM Ahmedabad, Divya’s entrepreneurial spirit was sparked. Case studies on global food chains like McDonald’s, KFC, and Starbucks, coupled with a professor’s observation that Indians weren’t excelling in running such chains, ignited her vision. Divya aimed to challenge this notion and envisioned introducing traditional South Indian food to a global audience.
However, Divya Rao couldn’t act on her food business idea until she encountered Raghavendra Rao, a seasoned professional in the food industry, who reached out to her in her capacity as a Chartered Accountant. Reflecting on Raghav’s extensive background, she mentioned, “Raghav had over 15 years of experience in the food industry. He commenced his journey with a roadside cart in Seshadripuram, facing minimal family support. His roles included working at various restaurants — from Le Meridian, where he served as a cashier, cleaner, counter boy, to eventually managing operations. Despite initiating a small restaurant venture with others that didn’t thrive, I met him in my CA capacity, providing financial advice to manage the business.”
However, Raghav’s restaurant venture faced eventual failure, prompting him to extend an invitation to Divya for a collaboration in launching a new restaurant chain. Despite being an established Chartered Accountant with a flourishing career, Rao affirmed her decision to take the entrepreneurial plunge.
While finalizing their decision to establish a restaurant, Divya encountered resistance from her family. Her mother expressed concern, stating, “I made you a CA with so much difficulty, and you want to sell idli and dosas on the roads for 10-20 rupees?”
Undeterred by the familial objections, Divya remained steadfast in the pursuit of her dreams. Combining their savings, they opened Rameshwaram Cafe, a name chosen to honor former President APJ Abdul Kalam, born in Rameshwaram, and to emphasize its instant south-Indian connection.
Determined to ensure the quality of their food stood out, their efforts proved successful, receiving outstanding reviews and prompting the opening of additional outlets. As their professional and personal lives intertwined, Raghav proposed to Divya, recognizing the strength of their partnership.
Currently, Rameshwaram Cafe boasts four outlets in Bangalore and is poised to expand to Dubai, Hyderabad, and Chennai. With a workforce of 700 employees, the business reportedly earns Rs. 4.5 crore in monthly sales per store and achieves an annual turnover of around Rs 50 crore. Co-founder of B2B startup Udaan, Sujeet Kumar, shared these details in a podcast with Zerodha CEO Nikhil Kamath.
Looking to the future, Rameshwaram aspires to have a presence in South India, North India, and abroad within the next five years. From facing mockery for selling idlis on the streets after IIM Ahmedabad to achieving a yearly business turnover of over Rs 50 Crore, Divya and Raghav’s journey stands as an inspiring tale for those daring to dream big, take risks, and forge their own path in life.