Bad bouquet to fiancée catapults Vikaas Gutgutia to realise 'Ferns N Petals' dream

Success Quotient is a weekly feature that appears every Friday on Firstpost, which looks at the pains and joys en route to success for a head honcho - whether a CEO, MD or an entrepreneur. The column looks at the ideas that helped launch a company, its highs and lows. It was love that spurred Vikaas Gutgutia, 47, on an entrepreneurial journey of floral bouquets. Standing steadfast to his dream to make it big, he is a happy man today when he describes his company as the world’s largest chain of floral boutiques. He shares his journey with Firstpost that he says he fired with a determination to make it big or perish. Excerpts from the conversation: [caption id=“attachment_2451872” align=“alignleft” width=“380”] Vikaas Gutgutia, Founder & MD, Ferns N Petals[/caption] What was your ambition growing up in Vidyasagar in Bihar? Right from childhood I was determined to either do something big in life or die on the footpath. I was determined not to lead a common’s man’s life. I wanted to be a king or a beggar and not anything in between. What was the experience of working at your uncle’s flower shop in Kolkata? What lessons did you learn that helped you when you started a similar venture later? I shifted to Kolkata after my Class X to study further. I also started helping my uncle by sitting in his retail flower store for a couple of hours after school. This gave me some knowledge about the flower trade. But I did not like the business. I made a sale of only Rs 5,000-Rs 7,000 daily. I found it too small for my taste. Did the genesis of Ferns N Petals come about because you could not find a tastefully arranged bouquet for your fiancée? Yes. After finishing college, I went to Mumbai for a while to look for opportunities as my family was struggling financially. In 1994, I travelled to Delhi to meet my girlfriend and wish her on her birthday. I sent her flowers through a florist, but the flowers delivered were of a very bad quality. I asked myself, Is there any opportunity here? Having some experience of the flower trade, I decided to study the Delhi flower market to check the quality of their serviced. There were only five to six players in the market enjoying a monopoly. I found that most customers were unhappy with the quality and service of florists. Also, the ambiance of flower shops and the way flowers were displayed were quiet poor. I realised that there was a need for a good florist in Delhi. I spotted this opportunity. This is how Ferns N Petals was born. I was certain that flowers would not help me realise my dreams. How much was your investment in the start-up?  One of my friends from Kolkata had shifted to Delhi a few years before I could start the business. I discussed my plans with him and also told him I did not have sufficient funds. He decided to co-found the firm and invested Rs 2.5 lakh. In 1994 we opened our first store spread over 200 sq ft in South Extension Part II. What was your aim when you set up the business? Delhi was a much bigger city than Kolkata and if the latter could work well for florists, I thought the national capital could prove to be much bigger. I did not have a set business model. I had to go to the school of struggle to smell the sweet taste of success. What, in your opinion, has made your venture a success? The most important lesson that I have learnt in all these years is that before you start any venture, you must find someone who will drive it. This is because if the beginning is wrong, laying a good foundation of the business becomes very difficult. If I plan a new venture, I must first hire a competent CEO and then launch it jointly in consultation with him. What are your current revenues? What is the targeted turnover that you are looking at in the next three years? Currently FNP’s turnover is Rs 200 crore for FY15. We are expecting 20 percent growth thereafter. What is the craziest request you have had at FNP?  A client walked into one of our stores. He was unable to decide what to buy for his girlfriend. He bought the entire stock of flowers at the store! You have started many verticals. How are they doing? Today, Ferns N Petals is the world’s largest chain of floral boutiques. The brand is divided into Ferns N Petals Retail and E-Commerce, FNP Weddings, FNP Floral Touch- India & Dubai, FNP Gardens, The Flagship store, Wedding Design Hub and Gifts By Meeta. All the verticals are profitable and doing well. In my initial years of business, there was requirement of flower decor at a reputed five star hotel in Delhi wherein I used my creativity and for the first time introduced the concept of cut flowers. My work was very well appreciated. From thereon there was no looking back for the wedding vertical which is closest to my heart. What would you advise startups? 1. It is very important to be innovative. 2. Personal attention is the key. 3. Always hire a driver first before you start a new venture. 4. Delegate your work. You had started a chaat venture too. But it did not do well. What lessons did you learn from that failed venture? I wanted to do to chaat what I did to flowers– serve the product in an air conditioned environment with assured quality, hygiene, presentation and service. I was very ambitious about it and opened many outlets in Delhi/NCR but it was the biggest mistake of my life. It ran for three years before I closed it down in 2009. There were two mistakes that I committed: I started ChatakChaat before hiring a driver and then tried to fit in many people in it. The second was that people are very reactive when it comes to taste buds. I was unable to control the standards and create uniformity across all my outlets. Who do you send bouquets to? Which are your favorite flowers?  Usually I send bouquets to my friends and associates on their birthdays and as Thank You gestures. I like anthuriums and cymbediums because they are beautiful and lass longer. How do you unwind? I am a loner. I keep myself away from the hustle-bustle, like to be calm and compose in my own comfort zone.