Hi Fellow Rodinhooders,
We are a self taught baker duo based in Delhi delivering premium cakes across Delhi/NCR. We are based online and generate orders through our Website & social media platforms.
We shared our entire story on therodinhoods here.
We are at a growing stage, consumers are loving our products and orders are increasing on a daily basis. That’s a good sign, however it’s getting tough for us to manage the orders as our resources are limited. In order to expand we need funds to
1) Develop a strong cake ordering platform.
2) Buy bigger equipments. For Ex: Bigger Oven, Mixers etc.
3) Setup a bigger kitchen.
4) Hire People. Especially some delivery guys, helpers.
5) Online/Offline marketing campaigns.
So, the challenge right now is that we don’t have enough funds available. We don’t want to borrow from friends/relatives. We already applied for a business loan however we aren’t eligible for that as they require a huge bank statement, also our business is not that old.
We’ve been in business for about 10 months and our current account is only 4 months old.
So I need help on advice/suggestions regarding
1) Possible ways of fundraising for SMEs like us.
2) Are government funding schemes like “PM Mudra Yojna” good enough?
3) Should we go for Angel investment? If yes then how can connect with the right one?
Basically, would need advice as to what would be best suited funding options for us at this stage?
Below are the links that talk about our online presence:
Click here for our:
Looking forward to valuable feedback/suggestions.