An entrepreneur who has been in the market for three years recently secured a Ksh 7.5 Million investment from two panelists on KCB’s Lion’s Den.
In the first episode of the new season, the founder of fast food franchise Wing It secured the joint investment deal from Wandia Gichuru, Co-Founder and MD of Vivo Activewear and Kris Senanu, CEO of Blackrock Entertainment.
Wing It is a Kenyan based fast food company owned by 29-year-old Paul Kihiko with a primary focus on chicken wings. He started the business three years ago and has two branches in Nairobi’s biggest mall, one at Galleria and the other at The Hub in Karen.
He started the journey in Switzerland with a background in hospitality and got a degree from the UK before coming back to Kenya where he got a job as a supervisor at a local restaurant. He the ventured out to start a catering business which did not work out as he intended. Failure did not hold him back as he continued the entrepreneurial culture which finally culminated with the start of Wing It.
On the show, he stated that he plans to extend the line of outlets to ten and his extensive knowledge and passion for the business seemingly helped convince the Lions to come in and help him unleash the potential of the brand.
He cited KFC and Burger King as his main competitors and differentiated his brand from them by saying that he can easily switch up the menu items and localize them as opposed to the foreign franchises which might take some time to get new recipes approved.
His chicken wings clearly passed the taste-test and sparked interest from Wandia and Kris who matched his asking price for investment. The lions pledged to support the entrepreneur as he targets to expand his retail business and become a household name in the Kenyan fast food scene.
Wandia reiterated her experience of being in the malls that Wing it currently operates in and knows her way around what it takes to get revenues up by understating the demographics they target. Kris came in stating that he already has three locations ready for the business to expand.
After tough negotiations and two new business partners, it is seemingly clear that Wing It and Paul have amazing additions to their business journey after securing the investment.
KCB Lion Den airs every Tuesday on KTN at 8pm.