Founders & their story

• Akashdeep Dan
• Sundeep Singh

Uncle Peter’s, a renowned brand specializing in pancakes, operates both as a cloud kitchen and a restaurant chain, offering a diverse menu with over 15 varieties. Additionally, the brand caters to various dietary preferences by providing healthy, gluten-free, and vegan options. Notably, all pancakes served are 100% eggless, appealing to a broader customer base.

 

Having served over 15 lakhs pancakes, Uncle Peter’s has established a strong presence across 15 cities with 40 outlets. The batter used for the pancakes is carefully crafted from either wheat flour or oat flour, ensuring quality and taste consistency. The fluffiness of the pancakes is meticulously maintained through precise formulation, batter consistency, and optimal cooking techniques.

The brand’s journey began in 2019 with a cloud kitchen outlet in Bangalore, which has since expanded to include 12 cloud kitchens and 28 Quick Service Restaurants (QSRs) and kiosks. Uncle Peter’s currently operates five company-owned outlets and boasts 35 franchise outlets. Franchise opportunities are available with a nominal fee of 5 lakhs, valid for five years. The total initial investment required for a franchise QSR outlet is 12 lakhs, with an impressive payback period ranging between 15 to 18 months, making it an attractive proposition for potential franchisees.

About the company

Uncle Peter’s Pancakes emerged from the enchanting allure of Paris and the founders’ deep affection for its delectable pancakes. Akashdeep, drawing inspiration from global interactions, envisioned adapting this beloved Western breakfast tradition to suit Indian palates. Their longing for decadent, airy pancakes found its inaugural expression with Uncle Peter’s Pancakes in 2019. The establishment’s inception aimed to democratize the availability of this iconic breakfast item across India, challenging the conventional notion that pancakes were solely the domain of standalone restaurants. Their mission is to preserve the heritage and legacy of this revered dish, presenting authentic recipes crafted from premium ingredients.

Commencing as a virtual kitchen in Indira Nagar, Bengaluru, Uncle Peter’s Pancakes and Cafe has since flourished into a thriving chain boasting over 40 branches across fifteen cities. From Bengaluru to Gurugram, Chennai to Lucknow, Kolkata to Indore, Ahmedabad to Pondicherry, and even Goa, this cafe, with its warm amber hues, has enraptured pancake aficionados, delighting them with over 5000 pancakes sold daily. The brainchild of Akashdeep and Sundeep, who sought to infuse a dash of Parisian charm into India, Uncle Peter’s Pancakes has been a trailblazer in the breakfast scene. The brand stands as a testament to pancake innovation, with biannual menu updates offering patrons a unique culinary journey. Originating as a modest cloud kitchen in Indira Nagar, Bengaluru, their trajectory has been marked by steadfast dedication and relentless pursuit of excellence. The duo endeavours to craft a menu featuring premium, fresh, and wholesome ingredients that reflect the brand’s exacting standards. They take great pride in their freshly prepared offerings, each pancake boasting its distinct identity and flavour profile.

Revenue

Uncle Peters’, a distinguished brand in the pancake industry, operates with a robust financial performance across its cloud kitchen and QSR segments. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for its Cloud Kitchen segment stands at 11%, while the QSR segment boasts an impressive EBITDA ranging between 20-21%.

Each franchise outlet generates substantial sales, typically ranging between 5 to 5.5 lakhs. The cumulative lifetime brand sales have reached an impressive milestone of 30 crores, indicative of Uncle Peters’ widespread popularity and consumer trust.

 

In the fiscal year 2023-2024, up to November, the brand has achieved sales totalling 13.5 crores, slightly lower than the previous fiscal year’s sales of 14 crores. However, it’s noteworthy that the projected sales for the entire fiscal year 2023-2024 are estimated to range between 21 to 22 crores, indicating strong growth potential.

A significant portion of the projected sales was realized by November 2023, with sales amounting to 2.1 crores, highlighting Uncle Peters’ consistent performance and market demand.

Founders’ Ask 

60 lakhs for 2% equity at the valuation of Rs. 30 crores.

Offers

Anupam, Namita and Vineeta’s offer: 60 lakhs for 3% equity at the valuation of Rs. 20 crores and 3% royalty until 1.2 crores is recouped.

Namita and Vineeta’s offer: 60 lakhs for 2% equity at the valuation of Rs. 30 crores and 3% royalty until 90 lakhs is recouped.

Founders’ Counteroffer

Offer 1: 60 lakhs for 2% equity at the valuation of Rs. 30 crores and 1% royalty until 90 lakhs is recouped.

Offer 2: 60 lakhs for 2% equity at the valuation of Rs. 30 crores and 3% royalty until 1.2 crores is recouped.

Offer 3: 60 lakhs for 2.4% equity at the valuation of Rs. 25 crores and 3% royalty until 1.2 crores is recouped.

Final Deal

Anupam, Namita and Vineeta: 60 lakhs for 3% equity at the valuation of Rs. 20 crores and 3% royalty until 1.2 crores is recouped.