• In Conversation

Shereen Bhan (SB): Your father and the other founders of Infosys have been regarded as poster boys for middle-class entrepreneurial aspirations. How did that impact you while you were growing up, shuttling between the U.S. and India?

Shruti Shibulal (SS): It allowed me to understand that there is something beyond working for a large organization or a government organization. You can actually start something on your own. You can follow a dream and make something that you believe in come true, rather than work for someone else. That way, you can do something that deeply means something to you.

 SB: Did you always want to become an entrepreneur?

SS: You know, I thought about it while growing up. I thought about becoming a lot of things—a doctor, an astronaut, everything! But when I was actually ready to start my career, I thought I have the option [to become an entrepreneur], so let me take advantage of it.

 SB: And Infosys was never an option for you?

SS: No, Infosys is not a family company. Plus, I was never really interested in IT. So, it was never an option for me, personally. Even otherwise, the organization cannot hire family members of the current directors.

 SB: You studied in the U.S., graduated there and then worked for a while at Merrill Lynch. Why did you decide to return to India and start something of your own?

SS: I wasn’t comfortable at Merrill Lynch after a while, just because I was looking at myself thinking about the 20-year plan—something that my dad talks about quite a bit.

 SB: So you got the idea of having a 20-year-plan from him, is it?

SS: Something like that. He says do something now only if it will make sense to you in the next 5, 10 or 20 years. Put things in context, basically. When I was at Merrill Lynch, I started thinking about where I will be 20 years down the line, and I didn’t see it as a great place. I didn’t see myself being happy in that position. I absolutely loved living in New York, but as far as the work went, I just didn’t feel comfortable there. I knew that there was a different calling for me.

 SB: So when did you realize that your calling was to become an entrepreneur—that too in one of the hardest businesses in India, hospitality. It’s not an easy business to be in, as you’ve got to deal with every regulatory agency possible, and licenses are a nightmare.

SS: When I returned to India, I knew that I wanted to become an entrepreneur, but I hadn’t planned on getting into the hospitality sector. Actually, I had thought that I would start a restaurant when I’m 40 or 50 years old. But, through common friends, I ended up meeting my business partner, Chef Abhijit Saha. He had this great idea of starting what is now Caperberry, as well as a couple of other projects. Basically, his vision and mine fit together perfectly—our ideas, values, ethics, strategies, etc, clicked. I saw that this was something I could work upon for the next 20 years.

 SB: Did you to convince your parents about this, or did they buy your pitch instantly?

SS: I don’t think they bought it instantly. But once I was sure that this is something that I’m really interested in doing, my parents were on board. They were very supportive. Interestingly, my dad did not meet my business partner until six months after signing on, since he was busy traveling. He just let me be; he let me do my work.

 SB: Your restaurant, Caperberry, opened in April 2009 after working on it for close to eight months. What has been the hardest part of getting the restaurant up and running?

SS: Abhijit and I met sometime in February 2008. Although we signed and incorporated the company in April 2008, we didn’t actually get the space to start it in until December 2008. So, just getting the space was the hardest thing for us. There were a lot of properties in Bangalore at that time, but people didn’t want to give them out to restaurants. They weren’t interested in leasing it out for the duration that we were looking at. And they didn’t have the power capacity. Also, there were so many little details to take care of while setting up the kitchen and the layout of the restaurant. It all had to be fitted into whatever property we would get.

 SB: The founders of Infosys went through several such setbacks on account of government approvals—rather, the lack of them. So did you turn to your dad for advice?

SS: I did. I was getting very frustrated with the whole process; it was such a long-drawn-out one, and it was my first venture. When you are young, you get really emotional about it. That’s when my parents stepped in, as did Abhijit; they were a great source of support for me. They told me that things will come through, that we just need to give time. It will work out in the right place at the right time—you just need to wait for it.

 SB: How soon do you hope to make money with this venture?

SS: It takes time. This business is so unpredictable that every day is a different story. Business on the weekends is usually good, but then sometimes we will have a Wednesday that’s through the roof. But you can’t really predict these things.

 SB: Have you learnt to deal with that kind of uncertainty?

SS: Yes. You have to—it’s part of the reality of this business. You do your best to make sure [you are doing things right]. And you try to minimize the risks as much as possible, whether it is by putting out fliers, e-mails, etc. to get people in. But it is hard at times, as far as making money goes. I will probably take three years or so to start getting returns on the investment. So it’s a long-term kind of an idea. But, you know, three years is probably nothing compared to what most large organizations have to go through.

Tags:
Caperberry, restaurant, Shereen Bhan, Shruti Shibulal, venture