Stories
Left TCS Job To Build A Rs 20 Crore Milkshake Empire: The Success Story Of Yeshwanth Nag
- •Yeshwanth Nag left his corporate job at Tata Consultancy Services after drawing inspiration from a European trip in 2011 to launch a dedicated milkshake brand.
- •Along with his brother Ashwin Mocherla, Nag founded The ThickShake Factory in Hyderabad in 2013, choosing to bootstrap the venture instead of seeking venture capital.
- •Facing initial challenges with product quality, the founders developed their own proprietary ice-cream base recipe to maintain strict control over ingredients.
- •The business expanded organically and through franchises, growing to over 85 outlets across 15 cities and two countries.
- •Despite severe disruptions during the Covid-19 pandemic, the company rebounded strongly with consolidated revenue reaching approximately Rs 21.81 crore in FY24.
Key Questions Answered
The idea originated during a 2011 backpacking trip to Europe when Yeshwanth Nag observed a bustling milkshake outlet in Belgium despite freezing temperatures, prompting him to consider a similar specialty beverage concept for India's warmer climate.
Yeshwanth Nag and his brother Ashwin Mocherla launched The ThickShake Factory in Hyderabad in 2013. Instead of seeking institutional venture capital, they chose to bootstrap the business using personal savings and a loan, later expanding through a franchise-led model.
In FY24, the company recorded a strong financial rebound with consolidated revenue reaching approximately Rs 21.81 crore, bringing it close to its pre-pandemic peak. Additionally, the business reported a consolidated net profit of about Rs 3.96 crore and an EBITDA of approximately Rs 7.33 crore.
