** Description:**Join us on BlitzBusiness as we sit down with Devanshi, a dynamic entrepreneur who transitioned from a successful corporate career to conquer the competitive world of hospitality. Devanshi shares her inspiring journey, from her roots in Lucknow to building a thriving hospitality business in Bengaluru.**Key Moments & Timestamps:*** **00:00 ** - Introduction to Devanshi and her background.* **00:12 ** - Devanshi shares her journey from Lucknow to Bangalore and her corporate job.* **00:25 ** - The decision to start her own hospitality company, Tripgo Hospitality.* **00:41 ** - Discussing her love for pets and pet-friendly restaurant spaces.* **00:49 ** - What drew Devanshi into the hospitality industry.* **00:57 ** - Her previous experience in the EdTech and development sectors.* **01:23 ** - Why Bangalore's F&B culture inspired her to enter hospitality.* **01:40 ** - The initial exploration and research phase before starting her restaurant.* **02:20 ** - Acknowledging the challenges in the restaurant business.* **02:32 ** - Diving deeper into her experience in the EdTech industry.* **03:30 ** - How she got started in the current hospitality space.* **03:59 ** - Top 3 crucial things aspiring restaurateurs should know.* **06:06 ** - The importance of understanding licenses and permissions in hospitality.* **07:17 ** - The significance of having a good financial runway for a restaurant.* **09:15 ** - Hidden costs and considerations when creating a business plan.* **10:30 ** - The variations in licensing and "under the table" costs across states.* **11:46 ** - Discussion on various restaurant formats and their profitability.* **12:13 ** - Comparing the risk and profitability of different F&B formats.* **12:30 ** - Challenges and advantages of cafes vs. bars.* **13:08 ** - Highlighting opportunities in markets with less competition.* **13:36 ** - The importance of location specificity in India's F&B industry.* **14:38 ** - The challenge of acquiring liquor licenses and potential solutions.* **15:10 ** - Advantages of buying a property with existing licenses.* **16:05 ** - Understanding the deposit and rental costs for liquor licenses in Karnataka.* **18:31 ** - The concept of BYOB (Bring Your Own Bottle) and licensing requirements.* **21:12 ** - How BYOB formats generate revenue from food.* **21:28 ** - Why cloud kitchens are not as profitable for new entrants.* **22:58 ** - Devanshi's current hospitality ventures.* **26:10 ** - Identifying the most profitable format among her current businesses.* **27:26 ** - Why cloud kitchens may not be a great business for new entrepreneurs.* **28:56 ** - Cloud kitchens as an additional revenue stream for existing businesses.* **29:30 ** - The strategy behind restaurants running cloud kitchens from the same location.* **30:15 ** - Funding options for hospitality businesses in India.* **30:30 ** - Venture Capital interest in new restaurant formats.* **30:57 ** - The common misconception that leads to high failure rates in hospitality.* **31:41 ** - Why almost everyone dreams of opening a cafe or restaurant.* **32:26 ** - The importance of strong expertise in niche industries vs. hospitality.* **33:37 ** - Devanshi's top 3 favorite Pan-India restaurants.* **35:45 ** - Why she admires Booji Cafe from both customer and business perspectives.* **37:46 ** - The enduring appeal and success of The Big Chill Cafe in Delhi.* **39:41 ** - The importance of effective marketing, especially on Zomato.* **40:53 ** - Key takeaways and lessons Devanshi wished she knew earlier about marketing.* **42:40 ** - Her final advice for aspiring entrepreneurs in the hospitality sector.