Inspirational, foresighted and determined, brothers Sharad Madan and Naresh Madan through their ventures created an impactful imprint in the hospitality industry. Spearheading the Imperfecto group and their latest brainchild Khubani, the duo are first-generation business pioneers of the family. Decade-old and a household name, Imperfecto began with the perseverance of their father Suresh Madan, who laid the bricks of the venture’s first outlet at Hauz Khas village- the first of many.
Under his guidance, his sons Mr Sharad Madan and Mr Naresh Madan turned trailblazers, and now carry forward the legacy of Imperfecto- an umbrella with over ten restaurants and bars across Delhi NCR. Khubani marks the passion project of visionaries Sharad and Naresh Madan guaranteeing an escapade into regality and a journey for all senses. Mr Sharad Madan is a B.Com graduate from Delhi University- an artistic, creative persona, always envisioning how to bring to his clientele unique, global experiences. Mr Sharad is the steering wheel of the organization who looks at more facets than one. Sharad enjoys listening to music and travelling to explore different cultures across the globe. He also loves to spend time with underprivileged people because he believes in giving back to society in one way or the other
Insights Success in conversation with Sharad Madan to know more insights into his business-
Please brief us about the your journey in the hotel industry and how have you made your company/firm/organization excel in the industry.
9 years, 12 high energy bars and a night club since its launch in 2013, and the recent acquisition of Hong Kong club in Hyatt Andaz which is now known as Khubani. Imperfecto has come a long way! Mr. Sharad Madan began with the endeavors of becoming the leader in creating high energy bar experience and a brand that is hand made. “It looked like an enormous task at the start of the first outlet but with the backing of each other and the best team, we were able to achieve our dreams”. Travelling with my father, I gathered all the details related to the work from my father. Those were truly the formative days that laid the foundation for my future role in the industry. The exposure I got in terms of travelling to various regions, exploring different cultures, understanding the eccentricities of the people across the world nurtured me into the entrepreneur I am today. These experiences taught me a great deal and all I could think of was to implement and execute those ideas in Delhi NCR for everyone to enjoy and experience them Says Mr. Sharad Madan.
What was your inspiration behind venturing in industry?
Like I said Travelling with my father really helped me gather the details related to this industry and the exposure I got in terms of travelling to various regions, exploring different cultures and cuisines, understanding the eccentricities of the people really helped me understand and venture into this industry. I wanted the people of my country to experience what I had experienced in my travels. However, the journey is a commendable tale of sleepless nights, hustle and a hunger for success. Building the brand from scratch, sheer vision without an industry background or a God Father brought us to where we are today.
What professional qualities and values do you think your clients, colleagues, and employees admire in you the most?
*Laughs* I think everyone admires the artistic, creative persona I have and the passion with which I want to build the brand, at least that’s what I would like to believe.
Please brief our audience about your firm, its USPs, and how you are currently positioned as one of the best product/service/solution providers.
The USP of our brand is that we do not only offer F&B services to our customers. We are an experiential entertainment place and want our patrons to have memorable experiences with us. We have international performances doing fire shows, aerial shows and belly dance with us, the likes of which were never seen before Khubani. We offer the best Sufi night experience in the country with almost 1200 guests every Wednesday in the house. We have also installed an IVR system for a smooth and better reservation system which no other place is offers.
Being an experienced leader, share your opinion on how the adoption of modern technologies like AI and ML impacts the industry and how your firm is adapting to the change?
Almost one year after the Covid-19 pandemic hit our daily life, it is a no-brainer that the development and use of technologies played a crucial role in our adaptation and recovery to this global crisis.
We have relied largely on Artificial Intelligence to collect relevant customer data and feedback to build a stronger customer profile. With a quicker data collection system, we have taken decisions based on real-time data
Considering the current industry scenario, what kind of challenges do you face, and how do you drive your firm to overcome them?
In a consumer-facing industry like ours, having low employee retention with employees constantly coming and going makes it difficult to meet customer expectations. Hospitality businesses also now face the challenge of an increase in 55.2% in operating costs, with industry groups lobbying the government for extra financial support for the industry. Increase in hospitality tech has also increased the customer expectation post pandemic as shifting to tech during pandemic was the need of the hour.
What would be your advice to budding entrepreneurs who aspire to venture into your space?
First and the foremost, be as artistic and as creative as you can be because the world is your oyster. Identify the gap in the market and try to bridge that, this might be stating the obvious, but it’s perhaps one of the most valuable pieces of advice that’s often overlooked. Building a very strong network is very important, make the most of networking opportunities and most importantly, nobody is a born entrepreneur. We all learn by making mistakes and it’s being able to accept constructive criticism and feedback that’s key for helping your business to move forward and stay competitive, so embrace the feedback and learn from the mistakes.
How do you envision scaling your firm’s operations and offerings in 2023 and beyond?
Every organization wants to scale rapidly and set ambitious goals, visions, and missions to achieve its expected growth. However, growth may be short-lived or linear if your company can’t handle increased consumer base or other future changes. Hence, it’s important to build technology that can be converted to another business model or scaled as relevant in the future.
Ensuring a strong man power is also one of the agendas for us because it’s the people who run the whole show for us and help us meet the customer expectations
According to you what qualities/traits a powerful business leader should possess?
Being a source of empowerment for others so they achieve success for themselves as well as the organization and creativity is one of the important aspects that I always stress on, thinking out of the box.
