Agrawal, founder of QSR chain Wok Express, in Forbes 30 Under 30 list
Aayush Agrawal, the 29-year-old founder and managing director of Chinese quick service restaurant (QSR) chain Wok Express, is among the Forbes 30 Under 30 list, which comprises India’s most inspiring achievers, bright rising stars and leaders of tomorrow. The Under 30 list of 2019 is all about millennials who have made an impact.
He has made the list just over three years since the inception of the home-grown and completely self-funded venture. It commenced as a pilot in the F&B in 2015, and now has 35 outlets in Mumbai and Pune. Currently growing at 50 per cent, it is the fastest-growing Chinese QSR brand.
“This is such an honour not just for me, but for brand Wok Express as well, because readers and top editors have selected us from thousands of nominations,” stated Agrawal, adding, “This award also puts an additional responsibility on our growth plans and we are so ready for it.”
Wok Express serves fresh and quick Chinese food to over 3,00,000 people a month at very reasonable prices - the basic menu starts from Rs 55. The chain is on a roll – aiming at over 270 outlets across India including Mumbai, Delhi, Pune, Hyderabad and Bengaluru, with an investment of Rs 100-150 crore over the next five years.
Aiming to bridge the gap between Chinese street food and fine dining, the beginning was made with Chinese rice and noodle bowls. But Agrawal did something very basic – listened closely to customer feedback and grew slowly. The next step was the expansion of the menu, which now boasts of momos, baos (Chinese bread with choice of filling), traditional appetisers and mains.
The scion of the Agrawal family chose to stay away from the family-owned Ajanta Pharma, as he wanted to do something on his own, and that is when he launched Wok Express. The brand is also hitting all the right notes with the young demographic with their make your own Chinese rice/noodle bowls concept.
Here, the customer makes his/her own meal with his/her own preference and choice from a wide range of customised offerings - right from the base, vegetables or meats to the different kinds of sauces, which range from the traditional Teriyaki, Machurian and Schezwan to more adventurous ones, such as Bangkok Bell Pepper or Black Bean.
A graduate from Bentley College of Boston and armed with a master’s degree from Imperial College of London, Agrawal has so far remained low profile, but has company hasn’t. All their outlets are company owned and operated with dine – in and delivery, with 70 per cent of business coming from dine-in and 30 per cent from delivery.
Pricing remains a strong strategy, with the Value Bowl opening a completely new, untapped customer base to which premium-quality ingredients are served at pocket-friendly prices, thanks to a strong supply chain management.
Winning numerous industry awards over the past three years, Agrawal is aware of his competition with Chinese restaurants and other QSR brands.
“The consumer is demanding ambiance, hygiene, time to service and accessibility. The success of Wok Express shows that there is a huge potential for branded Chinese food QSRs in India, and every young person, newlyweds, working professionals and families are our customers. We want to be the biggest QSR brand in India in the next five years,” he said.