IITian Disrupts ₹90,000 Cr Egg Industry! But how? | Business Case Study of Eggoz
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- čas přidán 4. 07. 2024
- Founded in 2017 by Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz is revolutionising the egg industry in India. These IIT Kharagpur alumni identified critical gaps in the market - such as lack of nutrition and chemical-laden poultry feed - and turned them into opportunities to deliver high-quality, nutritious eggs. Starting with their first poultry farm in Bihar, Eggoz has been consistently providing farm-fresh eggs with vibrant orange yolks rich in lutein, Vitamin D, and A. Their innovative approach includes exciting products like Momoz and Burger Patties. With a strong focus on safety, Eggoz eggs undergo 11 rigorous safety checks. Beyond delivering excellent eggs, Eggoz is committed to empowering rural farmers, reducing emissions, and contributing to a greener future. Join us on this egg-citing journey to make India a protein-positive nation!
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Timestamps:
00:00 - Introduction
00:50 - Motivation behind the business, story of the entrepreneurs, eggs retail market in India, first national-level brand of egg-based products, started the first poultry farm
01:37 - Building the category from the groundwork, delivering the product to customers without compromising quality
01:57 - The complete process of how eggs enter the market, safety checks, and quality checks, deformity checks
02:23 - The process of collecting the eggs, a decentralised collecting method
02:46 - Raised funding for the startup through various leading ventures, investors, and private equity funds, target of coming year's revenue growth
03:06 - Sources of revenue, revenue from modern trade and quick commerce, more than 30% of revenue is from general trade and online segments
03:26 - Production of eggs, contract farming with purchase guarantee, free of cost feed support
03:47 - Usage of AI tools in business, bird management for productivity, and predicting demands in the market
04:10 - Market rates, NECC price, price paid to the farmer, customer acquisition cost
04:57 - Production units of Eggoz in India
05:14 - Business model of the company, various range of products in eggs that the company provides, the price range of the products
06:05 - Packaging expenses of various products, smaller packs, and premium products
06:21 - The breakdown of expenses of the company, competitors of Eggoz
07:04 - Ideal customers, target audience
07:17 - Number of employees, both permanent and contract employees
07:28 - Points to remember before starting a business, knowledge of the product, understanding the supply chain, learning about strategies, consumer needs
08:10 - Work division between the co-founders in various fields
08:27 - Brand design and the marketing strategy of Eggoz
08:56 - As an entrepreneur in the industry, opportunities that should be leveraged, fast-moving consumer goods
09:25 - The goal of the company, building Eggoz into a brand, opportunities in value-added consumption
09:48 - The largest market of the company, the space of this business in India
10:25 - Outro
So they will now sell you 6 eggs with some fancy decoration for 10x margin. IITIAN 👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻
And it comes with an added bonus of shorter shelf life, as washed eggs need to be refrigerated!
Disagree to this. Since price is what you pay for the Value you get. Nobody asks for negotiations in a hospital (cure) than quality food (precautionary). Cheers!
It's 20-35% higher, looks like No IIT would ever take you with your bad Math
😂
It will not work
Most of us do not realize this but e-commerce and branding is also one of the reasons of inflation
Is not it duty of owner of business to look into it ?
@@mexicanmomo why? When there is a consumer there will be a provider
Correct! With job creation and consumption demand via economic growth there will be inflation. But this is inevitable growing pain.
branding kar do aur kuch bhi sell karo startup ke naam par
Very Very True and Real
Amul is quailty at competitive rate and they are charging premium how they can vision to reach Amul level .
its just an egg with a stamp.
Umm no, try it, then talk
Not it has backing.
Then buy it
That stamp ink is edible but no one eats egg shell
Toh aap inse or kya ummed kar rahe hai.hathi ka andda😂😂😂😂
We are getting 12 eggs for Rs 70 and even less than that and they are selling 6 eggs for 75.
Where is eggs so cheap?
Bangalore local (not the super market)
@@manassingh4276 everywhere
@@manassingh4276buy from a wholesale shop.
6 per egg local market
Stanford, Harvard: building revolutionary AI startups
IIT: Ande lelo
That's mean and petty. If there's a business opportunity to exploit, more power to all entrepreneurs
AGRI is important
@@mahtabsoin7239 Opportunity to exploit?? The only opportunity I see here is 3 IITians using their TAG to build a- guess what? Egg brand!
I see founders build a life changing software by just raising a few million of even thousand dollars. And here we are talking about IITians raising millions to sell eggs. wow
Thts not mean thts reality about indian startups
@@mahtabsoin7239 useless thought
I live at a farm and produce my own dairy and poultry. After that, I just couldn't take the stuff from the market. However, recently I had a prolonged stay in a city and had to order eggs from Swiggy. I got Eggos.
I am familiar with desi eggs and was surprised that all eggs were the same size, shape and colour. At the farm, my experience is that probably 2 out of 50 eggs are similar, maybe less. I also found that they were peeled differently when boiled, tasted and smelt different when fried or made into omlette. I even asked a friend to taste it and he too found the taste and smell unappealing.
I had heard of Chinese fake eggs and confirmed from the net that they exist. So I have my doubts.
Also, I had ordered 6 packs of 8 eggs each ie. 48 eggs and all were the same. To get 48 similar eggs one would have to sort from 50 times, ie 2400 eggs at least. I would rather stick to my farm eggs.
I am open to further discussion on this.
It's possible if they grade it according to size. Egg whites is real thing require way more quality control, can't cover up taste change due to you know what. In India we have near zero oversight and standard of quality maintained, so it's safe to say buy from local farmers next option poultry business and they should know you regularly buy from them any taste change go and return it. They know what they do.
hey, you should say, India Fake Eggs, or better still, IItians Fake Egg
Broiler eggs,the chickens r fed with FOOD'S (some Millets) to change shell color. Some dip eggs in TEA DECOTION.
buy Normal eggs from local kirana store for convenience
Totally agree , we are running small farm in noida for desi eggs and there is huge variation in sizes
I have not eaten other than my free range chicken eggs for last forty years and I can vouch they are the best. No chemical, no antibiotic, and loads of taste. They come in different sizes and shades. I sell the excess for 12 Rs an egg . I have never treated my chicken for sickness. When I notice a problem, I segregate the sick one and if it dies, just bury it. I never had more than 100 at a time. I have had Wipeout twice. Meaning all my stock died. I have lost many to wildcat, mongoose, a couple of stray foxes and feral dogs
from the nearby village. Apart from these it was smooth sailing with them brown ones with golden yolks
Farms are themselves selling with good packaging now.
Good to see.. But this is the solution which has no problem.
💯 Spitiing truth, eh? 😅
I was thinking the same thing.
😂😂😂😂I need boiled egg. I get at 10rs with onions and pepper and salt
Jab ande hi bechne the to IIT kyu. Gaye ....
Gazipur mei Ansari ki dukan par internship karlete...
Aise 3 IIT ki seat waste kardi.
Who will make Maglev, future hydrogen engines, when IITians selling eggs and toiletries.
Such a shame !!
Tu bass kafir par dhyan de kaha insab chakkaro me pad rahe ho Miya :😇
Well said, bro.
Pitty
the quality of IITians is now reduced to this.
Every opportunity is a good opportunity.
@@rajvardhanraj7181yes, they r solving no problem, just mimicking west in the east, that's the problem😂
Same egg same quality same size
But Double Price
Only Packing industry will get benefit from this business
And this is the cause of Inflation in India
Why do we need to standardize, that it comes from a natural process?
don't be strange, If someone comes up to launch a company to standardize infant.
They are creating space that is not required at all. sooner or later, they will buy all the eggs from the farmer and create a shortage in the market to boost their sales.
100 % agreed.
Amul sells 1 kg Full Fat milk for Rs. 68.
In village also, for full Fat milk, price is around Rs. 60-70.
Amul is able to sell it at that price to its customers because it produces by-products from the Milk. So, price difference between loose milk and 'Amul' milk is not very much.
Furthermore, there are high chances of adulteration in Loose Milk. So, people are ready to pay a slight premium.
Now this company Eggoz is also competing with loose egg vendors. They retail for Rs. 3-6 in the market (Depending upon the quantity). The acquisition cost of Eggoz is Rs. 5 per egg (as per this video). So, turning into Amul of Eggs seems like a far-away thought, unless they are able to run marketing campaigns to 'EXPOSE' dangers of loose eggs.
living and working in UAE for last 22 years, there is nothing exciting for me in this now, there is no innovation or disruption, this is quite common in any developed countries....this news is like a joke for millions who live and work in developed countries.
It is like Modi speaks, everything he does is exceptional and innovations... Guys your IIT ???????
Since when is UAE a developed country?
He's living Teja's dream
man of culture
Yeh Teja teja kya hai... 😂😂😂😂
At safed ramu's expense 😂
😂😂
Filthy business. An egg costs Rs 5.8 in the local market but an egg in his brand costs Rs 12.2
They can only grow in tier 1 cities, because in other cities price can cause an issue , in my city egg is sold at rs 7
It will take a lot time for being profitable
During summers it is as low as 5
i live in metro city bangalore and I get eggs at rs 7. Eggoz is more like premium product in Eggs
They're trying to be a transparency and value add brand tho. Not exactly a price play for them
Check the quality of your egg yolk and eggoz yolk. Trust me for the price to value and quality Eggoz is way ahead then other brands in this race. On milk basket you get a 30egg crate for 260 which is a banger.
When per capita income of the Indian is less than 300dollars collectively, it's is very expensive to buy 10 eggs for 180 rs .
It is very expensive price in terms of affordable for Indians.
Only upper middle , rich people and who are not price conscious can buy !!!!
Who are the buyers who are buying eggs for twice the price?
They r those gullible ones who buy all organic food and think anything packed nicely must be better
I loved his answer for that question students, women, anyone who eats eggs
HNI people who love to spend on branding. Show them brands they will happy to spend.
People with bird brains 😂
This is the standard price for clean ‘packaged’ eggs.
No one will purchase eggs in 12 to 15 rupees if they will sell with silver packaging also when in local you get egg in half prices and he will replace it they are broke,
10 to 12 rs expensive for middle class
We get local desi eggs for 12 rupees.
No price of differences is premium and safety
Why? How many eggs does a family eat every day? 8 eggs?
At 240 eggs a month and 30% cost increase, Monthly cost comes out to be Rs. 720 extra. That's just high for Labour class, not anyone else.
@@manassingh4276 Do you know in India, internet broadband is available for 600 Rs per month ? Do you know with 720 Rs, an average Indian person can travel to his office through out month ? Egg is not a luxury food and It is not meant for rich people only, It is a staple for many poor .
@@kevalvichare4759 Then don't say it is AMUL. Say it is NESTLE of egg .
Not bad it's a severely unorganised sector. If they are directly sourcing the eggs from local farmers it's a great idea and will provide steady income to the farmers. Good thing company 's capex on farms will be almost less
All necessary commodities converting corp and hiking prices rather reducing it. Earlier Tea now eggs
why iit grads are generally going into non- engineering sector ? why they are not opening startup on engineering products ?
The prblms of these iitians making a company is they only focus on tier 1 cities where as Indian market is 80% tier 3 and tier 2 catagory
But that Tier 3 and 2 can't match the consumerism level of Tier 1 cities
Because money comes from that 20% of tier 1 cities
I don't think people in tier 2/ tier 3 city will go for it just for sake for packaging. An egg in local market will cost somewhere around 6-7 rupees while they are charging 12+ rupess which is almost 40-50% premium . It might do well in tier 1 city . Also, they are doing contract farming ,which won't sustain in long run.
build toilets instead of cleaning eggs, oh! well, iitians wouldn't take that up, because that needs innovation and creativity, to prevent hands from getting dirty
no one discussed about the quality of eggs, whats different about these. Are these grain fed hens or do they eat good natural foods, how much antibiotics are used etc
Very insightful inofrmation. Hardly any videos on CZcams that talk about this industry. Good selection by the Masters' Union team.
Why are theur eggs brown , i have only seen whote eggs?
I saw eggs selling at Rs.5 @--- Bengaluru
The price varies seasonally.
Normally in the height of summer, the price is the lowest.
Demand is steady in metropolitan areas like Delhi and Mumbai
In c
People who are simply comparing on price point just go and check the size of eggs thats sold for 7 rupees..its pathetic..i dont know what they are doing to those chickens..in order to maintain the price, the size of eggs have got smaller..i dont know about other cities but in my city,the size of eggs sold in grocery stores is smaller compared to what it used to be even 7 to 8 years ago..once boil the egg,the yoke size is the same but the white has smaller in size..thats basically more cholestrol per egg
I have consumed 1000s of eggs from eggoz. Very high quality eggs.
How do you determine quality?
What is quality in eggs?
How are these eggs different from the unbranded variety?
Are you working at Eggoz and they paid your salary in eggs?
Branding and product placement of Eggoz maybe good. But the quality of eggs that they supply are really poor. They sell really cheap eggs in their branded box.
Very mundane questions asked. What I would have asked,
1. In a commoditized business like eggs, what makes Eggoz stand out? There are hundreds of similar businesses which claim to sell everything from white/brown to cage-free to free range eggs.
2. What processes/controls do you have to ensure the customer that what you're selling is the real deal? How do I know the eggs you sell as free range are indeed free range? The customer wants to know what's stopping you from branding normal eggs as free range and selling them at 4x price? Are there any industry regulations for this? How much are you looking to spend on customer education (not acquisition) marketing?
They know something about brand value ! Once business was to meet people's need ! Now business means creating brand to make more money !
Please share their balance sheet... certainly they r having a cash burn model... not a profitable business in the Indian market.. India needs cheap in price and best in result....😅❤....all the best IITans....
You'll be "Amul of Eggs" when you will serve at Amul's price point.. 😂
I see huge growth in Delhi Mumbai and Bangalore but the rest of the tier 2 cities, NO WAY.
Bangalore we have lot of local farms supplying.
I am from a tier 2 city and am feeling packed eggs 2000 rs daily
Trade Union I love you❤❤❤
What about antibiotic free eggs? You are not talking about inside quality parameters of egg. Just she'll cleaning n stamping won't be disruptive.
There cannot be an antibiotic free commercial animal product...period.
There often comes a time when there is some viral infection around and it gets to the flock no matter how secure the system is...if no antibiotic is used the stock simply vanishes. Both vaccinations and correct administration of medications(be it anti biotic) is mandatory.
Majority of these antibiotics and vaccinations have no effect on humans especially in chicken and smaller animals as dose administered is very very low and as a safety precaution there is a withdrawal period of 7-28 days for effects of medication to subside significantly.
Backyard poultry keeping is a simple endeavour, hardly takes any time for upkeep. More people practicing it(ones who have the resources) the better it is for our environment.
This product seems to be more suitbale for tier-1 cities. Tier 2,3 won't care much for standardisation or branding, and lastly price is the main issue
Last week bought egg from SmartBaza Delhi . 10 pack brown egg.
One of the eggs turned out rotten and black yolk from inside .
Had to throw the balance eggs in the pack .
First time ever black stinking yolk in a normal shell egg. Pack was sealed.
I'm from Bangalore and mashallah the egg quality can't match other eggs. I've been taking from past 2 years as I workout so I need to take quality eggs and meat. I didn't knew eggoZ is an IItian product 😅. May u grow and reach all the possible customers.
What's different. It is the same murgi ka anda!
@@tarundakaliait's sone ka anda😂
@@tarundakalia nope i think you didn't heard from him. The egg is from a good variety of chicken 😁. Do it's a different anda
Good case study
The sound is not clear.
I am currently purchasing white eggs with orange yolk for around ₹107-112 a dozen in mumbai I certainly have no issues with the current delivery & packaging system I don’t see my self moving to eggoz where I am getting the same eggs for ₹145 not even a dozen (10pc) 🤦🏽 If I may suggest you should consider liquid egg category people are becoming more health conscious and busy at the same time liquid eggs will save time and mess. Putting more calories in the form of your masala egg delight doesn’t make sense. I wish you luck but to me it looks really challenging journey ahead to attract masses. Liquid eggs in 200ML container will be a game changer in my POV ☮️ 🙏🏽😇
Try Milk Basket for eggoz. 260 Rs 30 eggs.. Orange Yolk..
@@PrashantEM7 eggs available in India has a shorter shelf life also it needs refrigeration unlike eggs available in other countries where it can be kept outside. I order only six eggs at a time and always prefer to use a fresh stock.
Egg whites is real thing require way more quality control, can't cover up taste change due to you know what. In India we have near zero oversight and standard of quality maintained, so it's safe to say buy from local farmers next option poultry business and they should know you regularly buy from them any taste change go and return it. They know what they do.
In Kerala egg cost for 1 is 5, its flatulates like the share market but it goes down or up 1 to 5 rs this business is targeting the upper middle class but if you go to the normal market it gets cheap. in my sense, this startup doesn't goes for 10 or 15 years. but this can make good at b2b were selling egg to resurtant but cheap for bulk quantity , this can grow the startup for 20 year +
I really think eggoZ will last longer than 10-15 years as there will be people buying quality eggs as I'm from Bangalore and I can't buy local eggs coz of quality issue. eggoZ might introduce many other products so that it can reach other customers as well
Seedhi baat no bakwas... Liked the questions
Is it Healthy?
Local competitors se kaise battle kroge ..
There are 2 types of layers chicken breeds in India, cobb and ross . By the time these branded egg company sells 6 eggs, the vencobb and suguna will sell 1 million eggs.
eggs in retail are really not good for consumption THIS IS YOUR FIRST STATEMENT. telling this to investor is good but not good for customers...
Price is the issue, so it is difficult to grow the business.
who are your idea customers? i mean seriously is that even a question to ask?
do more research and ask the right questions
Amul is co-operative, a private company can never match the Amul values of distribution of profits.
These kind of business sustain or run on quick commerce like zepto or instamart. Now these businesses are only in demand in bangalore, mumbai/pune and delhi. Once quick commerce companies go bankrupt (exhausting their fundings) the same hits these startups and boom, 100cr gaya investors ka 🪄
Egg, a menstrual cycle of a chicken, waah re IITians. 😅
Wondering why most IIT guys go into non-Engg careers, retail, finance, civil services... Very few take up real hard core engg careers and R&D, to contribute to intellectual property wealth of society. Very few IIT guys are there in ISRO, BARC, CAPITAL GOODS industries etc.😢
Ulta Sweater kis kis ne note kia ??😂
sad to see IITians involved in such low tech tech business
Good
Isle liye IITian hone ki zaroorat Nahi..forget eggs, one can even sell spinach with the right amount of branding and packaging
They are sure sell the company after brand creation.
Poched eggs in a food bag, just add food bag in hot water. Good idea to add one more product line
He took Paresh Rawal a dialogue seriously.😂
Don't think about Kolkata. Because Premium of the Premium eggs are selling here under 10 rs.
Design a flag for eggoz brand and mount on all poultry farms in state by state using your distribution channels for free or pay them some small money on accepting the brands flag. Would increase awareness among the larger crowd.
this guy is future tycoon...it appears in his character
Hen farms with feed toh dikhaya hi nahin
Poached
Hard boiled
Soft boiled
Omelette
Scrambled
Bhurji
Salad
Fried
Bullseye
what a fish..
this would fail bcoz 80% of people know eggs are eggs... content are same.
so we get egg for 5/6 40% discount...what they do is just wash
If their business was so good and if they were earning profit though miniscule, they wouldn't need to add 'value added products'
Take egg. Put a fancy sticker. Sell costly. Where's the value addition?
I beleive Supply chain and product standardization are extremely hard for this category. Risks are also extremely high. One rumour of birdflu or chikunganya can eat your earnings of months.
As the founder said his family is in this business, i beleive he knows all these and i think there is another vertical of business without branding that they offer in big ticket sizes to big customers. These retail sales, i dont think is big part of their business.
Eggoz is procuring eggs from farmers and paying good prices to them but the actual concern and I don't know whether eggoz is solving that or not. People are using an injection for hens so that they get mature early and start laying eggs and also the nutrition part is that hens have to be fed with good grains and all types of food to have good quality and nutritious eggs does eggoz considering these points or they just looking for cracks in the eggs ?
Now after some day egg will be premium product. Mass people will cannot afford to buyveggs...what an idea sirji.
Yeh bhai kuch toh bada karega... Yeh toh pakka hai... Iske ande milk basket pe bhi milte hai.. Quality toh really acche hai.. Lekin.. Logistics ka issue Hai... Kai baar gadbad ho jati hai
Dear, Eggs are sourced so the main problem of preservation is not solved.
Where is the disruption?
I buy a crate of 30 eggs for ₹180 almost once every week, sometimes twice. I have to walk barely 20 steps to go to a neighborhood kirana store who gets fresh stock daily. I get it faster than any delivery service.
Why would i buy these overpriced branded eggs from a store which might be two kilometres away?
These can sell only in metros
Nice
What about wastage? It's expensive. Don't see growth beyond certain point. Consumer goods companies already stagnant .I am out
The ideal consumer of such a product is high earning people living around malls, ordering online. This product is not for common masses. Corporation only favors HNI people.
How much profit you made
Food Derivatives are very important and required to regulate in Indian all the States😅
Bro, I pay 220Rs for 18 eggs in US
That why taxpayer paying taxes so that iitians either go abroad for job or open kirana shops in india
Great product.
Use it daily
One guy can do the interview and ask questions. Good content. Also questions can be categorizedand and not in a random order. Again first point can help this.
To all those saying it's an egg with stamp. Try those eggs once, you will get the difference. I stay in Delhi and I come from Bihar i know what exactly natural eggs taste. Almost stopp6eating eggs due to foul smell and taste later tried these eggs, they are little costly but definitely worth.
Do you have any idea what amul is and howmuch milk they process and thier turnover of it without iitians. Kuchh bhi likh do hume to views se matalab hai.
# VIRGIN EGG😊 GOOD ONE ❤
Most comments are very intelligent and void of bais.
process eggs? what is that? sounds weird anything other than washing and packing.
May be Pasteurisation.
All businesses does not need to follow the consumption pattern of the western countries. There is enough opportunities in fulfilling local needs.
You are not buiding the AMUL for eggs, you are building the ADANI for eggs. The AMUL model is based on cooperative societies. You are buying bulk eggs from the hatcheries, branding and packaging them for and then selling for double the price than in the local market. Rather you are creating the BYJUS of eggs!
I am a chef in usa and legends like me buy from wholesalers not malls
How did he even got into IIT..!!!
I really don't see what they are trying to do. They basically have 2 main categories of egg just like every other shop has which are White & Brown Egg. They sell it just like any other eggs. They take egg from Farmers which every shops do.
So what's the business model here apart from IIT and Packaging?
The price for Today 30 carat white egg tray is RS 190 in Bengaluru, they are selling for RS 300. Why will i buy Eggoz?
What us it's pat margin