We have heard many inspiring stories of people who did hard work along with their innovative ideas and became millionaires. One such person is Jayaram Banan, the owner of Sagar Ratna, the popular South Indian food restaurant. This restaurant has many outlets across the country.
Today, Banan is popularly known as the 'Dosa King of the North'. But there was a time when he used to get Rs 18 as his salary. Not just that, he also did the work of washing plates in a hotel. From being a poor man to a millionaire, Banan has come a long way.
His restaurant has expanded to over 50 outlets across North India. Reports suggest that he has Rs 300 crore annual turnover, with over 100 restaurants worldwide.
Jairam Banan was born in a place named Uddapi near Mangalore, Karnataka. According to media reports, his father was a driver. Whenever he failed the school examination, his father used to scold him. Due to this fear, he left his home at the age of 13.
He took out some money from his father's pocket and boarded a bus from Mangalore to reach Mumbai in 1967. He then started working in a hotel for his survival. According to media reports, Banan used to wash plates and clean tables in the hotel.
He worked in the hotel for about 6 years and gradually became a waiter and reached the post of manager. During this, then he came to know about restaurants of South Indian food opening in Mumbai.
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But instead, he decided to go to Delhi for the same. However, things did not work out there. Banan wanted to run a vegetarian restaurant. His brother used to work in a Udupi restaurant in Delhi. After coming to Delhi, in 1974 he took the tender for the canteen of Central Electronics.
Then in 1986, Jairam started his first outlet named Sagar in Defense Colony with the help of his savings and borrowing from friends and relatives. Banan had to pay rent of Rs 3,250 a week. This outlet had seating for 40 people. The first day's sale was Rs.408.
Back then, people used to go to Woodland and Dasprakasa restaurants in Delhi to eat South Indian dishes. Banan got a chance to take over the Woodland restaurant. Later, the restaurant's name was changed to Sagar Ratna.
Now years later, Sagar Ratna, has many outlets across the country and abroad too including Canada, Singapore, and Bangkok. Banan is one of the most successful persons in the restaurant industry.
