[theme music playing]
[theme music continues]
[theme music fading]
[mobile phone ringing]
Just a second, Sharks.
Hello. What's taking you so long?
You took two weeks off just last month!
Hear me out. Hello!
Listen... Hello...
What happened, Niharika? All okay?
It took me a lot of effort to finally hire this babysitter.
- Hmm. - I even paid the agency their commission.
Now neither does the agency answer my calls
nor does the babysitter listen to me!
I've been through it too.
He's in a much worse state than me!
Sharks, he hired a cook that his neighbour vouched for.
He asked the cook to make plain poha.
She said to him, "It's not my expertise. I am out!"
[hysterical laughter]
[Sharks clap]
But it isn't their fault.
It's not like they are trained.
There ought to be a solution to these problems!
[intense music playing]
There is a solution! [in unison]
Sharks, this experience is missing in every Indian household.
A cook that never lets you be late.
A trustworthy babysitter who is your child's favourite.
Wow!
[laughs]
And a home help who keeps your house in an extremely great condition.
[Sharks laugh]
She's a superwoman. [chuckles]
- Yes. - Here with the solution is...
Broomees! [in unison]
India's trusted homemakers.
[uplifting music playing]
Hello, Sharks. I am Niharika.
[uplifting music playing]
Sharks, Broomees is a tech-enabled platform
that helps you hire a home help,
cook, babysitter or an all-rounder for your home.
We will find you a worker
with an ask of Rs. 80 lakhs for 2% equity.
- Wow! Food! - Do I have your consent?
- Yes, bribe us! - Yes.
[pleasant music playing]
Did you make this, Tripti?
Yes, sir.
[pleasant music playing]
Do you get health insurance and...
- I have availed it, ma'am. - Wow!
- Most importantly, I'm happy to see Peyush. - True! Oh, nice!
- Wow! - Wonderful.
- The food is delectable. - Thank you so much, sir.
[pleasant music playing]
- Through Broomees? - Yes.
Why do you let them have the commission?
Why don't you take up work without assistance?
- Then I won't enjoy the benefits the company provides. - Enlist them.
Tell us what benefits you won't get otherwise.
- For instance, if I ask for an advance on my salary... - Okay.
- They wouldn't trust me and honour my request. - Okay. What else?
- What if I need money? - Okay?
- Or if I wish to take a loan. - Yes.
- I won't enjoy these benefits that the company provides. - Okay.
The company takes responsibility for us.
So, are you happy?
Yes. I'm happy to be associated with them.
- Ma'am, earlier... - [unanimous laughter]
- Good joke. - We'll make the deal.
[Sharks laugh]
We've found a customer!
[Sharks laugh]
What was your income earlier
versus what you earn after you joined them?
I worked as a babysitter for five years.
I used to earn Rs. 2000 back then.
- Per month. - That's right.
Later, I worked as a security guard.
- I used to get Rs. 12,000 there. - And now?
From the time I joined this company,
I am earning around Rs. 28,000 as a cook, ma'am.
More than double. Fabulous job. Proud of you.
- Thanks. - Thank you.
Thank you, Tripti.
- Thank you very much. - Thank you so much, sir.
Yes, when my domestic help isn't available,
I fill in for her. Right?
Who among you was the first to face this problem?
How did you meet them and where do you know them from?
Sir, we've been friends since the first year of college.
We've done extensive work in social entrepreneurship
even during college.
We had the chance to interact with a lot of people
and identify their problems and troubles.
They don't get regular employment,
salaries as well as dignity.
Keeping those problems in mind, we decided
- there ought to be a platform for these people. - Agreed.
This was about how Saurav and I met.
- Okay. - Niharika and I went to Indian School of Hyderabad.
- Of Business! - Of Business, sorry.
We dropped out of ISB, Hyderabad.
Why?
- Because we started Broomees. - Yes.
What was your work background before you started this?
Back in college, I was a founding member of a company
called The Dance Bible.
They sell gym wear products online.
- Okay. - After that, I joined Egon Zehnder
which is a niche consulting firm.
I worked there for two years and then went on to join ISB.
I notice a pattern here, Niharika.
You first wait and see if someone has got the ball rolling.
If you think it'll fare well, then you join them
- as the first... - No.
Out of the three, I'm the least risk-taker.
I'm a stickler for planning.
- So, I need to see things. - Yes, it's evident.
But you know it and you own it.
- Yes, absolutely. - That's important.
We were the Young Leaders Programme admins at ISB.
We knew each other through it.
We were also connected through a common group.
And I was of the opinion that because covid hit us,
- I don't want to do an online MBA. - Hmm.
So, I put it up on the group if anyone had an idea for a start-up.
So, they told me this.
I was actually their first customer.
[pleasant music playing]
Both my parents work.
My mom is close to 60 years old.
I've seen her ageing away because of the work.
- I said, "This is a big pain point." - Yes.
"Get me a worker."
When was Broomees born?
How do you source people?
Ma'am, we have two apps. The worker app and the customer app.
We have options for feedback and replacement.
Even in the absence of a toll-free IVR team,
But it's a service partner contract.
- Okay. - Similarly, for the customer,
the customer and Broomees enter into a contract.
Superb. Who's your competitor?
There is Bookmybai and Housemaid.
Ma'am, they don't use technology.
So, their scalability is a real question mark right now.
There's a big competitor who you did not mention.
Facebook groups are famous for it.
- Sir, I am a part of at least 20 Facebook groups. - Okay.
But I want to join another 500 groups
where I can market Broomees.
Last question. Are you the CEO?
- No, ma'am. Vaibhav is the CEO. - I am.
Okay!
You oversee COPCOM, Corporate Communications.
No, sir. I'm good with customers. So, I am good with words.
Not COPCOM, you oversee Vaibhav and Saurav's communication!
Right?
I love your passion. You're too good.
What are your roles in the company?
Tell us your roles as well as the equity.
I oversee customer acquisition,
- marketing and strategy. - Okay.
Vaibhav is the CEO. He oversees product and tech.
Saurav is the COO.
He oversees operations and the supply chain.
Let me tell you why.
The service you're providing
is not exactly measurable and tangible.
It's about the chemistry.
It is about the relationship between two people.
Particularly the person who runs the house
and the help that is employed.
Converting and standardising that into a formula
is a very daunting task.
What is your experience?
Sir, when we just started,
we found it very difficult to find the right match.
Both the customer and the worker had various demands,
and finding a match was tedious.
Now, our approach is to standardise things.
Everything is clearly laid out.
When you access our website or app
to choose the services you want, you can't input what you wish.
You have to choose from the options available.
- Okay. - The set salary shows right then.
And no negotiation?
- No negotiation. - Alright.
We conduct a reference check.
- We actually call their ex-employer for feedback. - Very good.
What if the workers don't wish to give out information
- about their past employer? - A salary of Rs. 30,000
is incentive enough for them!
This is our customer app.
The customer will download the app and log in.
You see our services right at the top.
If Niharika wishes to book a chef or cook,
she needs to simply tap on chef/cook.
She can see all the information beforehand
of what services are included in the price.
After this, she needs to select "book now" and enter her address.
Enter a start date, and voilà, the booking is done.
If you look at the bottom,
the estimated monthly salary and hours are clearly mentioned.
But you haven't found a match.
You've only received a request as of now.
- What is the match percentage? - Yes.
If I talk about August 2022,
- May... - For a Rs. 40-crore valuation,
- it's quite low. - Yes.
We operate in South Delhi, Gurgaon and Noida currently.
We follow a training centre model.
No sooner do we establish small centres
than that area becomes functional for us.
We normally receive over 1000 bookings.
But the number of qualified bookings,
the ones we accept and fulfil, is 250.
Why is the fill rate low?
We follow the minimum wage.
Unfortunately, the customers in this industry
are used to exploiting and paying helpers a meagre sum.
What is your average contract life?
and the contract comes to an end.
- We enter into a new contract. - Okay.
It's attrition, but in a way, a continued booking...
You should look at it as one contract only.
You should not look at it as two separate contracts.
You will make errors in analysis.
- Okay, thanks. - Got it.
What is your average contract value?
We've raised a pre-seed round
and the investment raised was Rs. 4.2 crores.
What was the valuation?
in which we expect to raise Rs. 7 crores.
Why did you exhaust Rs. 4.2 crores and raise another round?
No, ma'am. We have Rs. 3 crores left in the bank.
We don't make frivolous expenditures.
- And... - Why are you raising money now?
The market might be better next year.
You stand to get better terms.
[intense music playing]
Ma'am, opportunity cost really matters.
The chances of the market doing better
- or the terms... - Lovely answer.
I tell all the companies who come on Shark Tank
that they shouldn't raise funds, but you're right in raising a round.
If you raise funds in the current market,
then it will be very good for you.
I think you're being smart about it.
You said you're raising Rs 42 crores on post-money valuation.
On a 35-crore pre-money valuation,
- you raised Rs. 7 crores. - Correct.
Yet you've come here
with an ask of Rs. 80 lakhs for 2% equity.
That's a valuation of Rs. 40 crores.
The money is far too less for the valuation.
Honestly, we don't have an amazing Indian investor on board
who has done things on a large scale.
So, you're in need of expertise.
- Dire need of it. - Correct.
Ma'am, the business idea isn't all that great.
Whoa!
We love your entrepreneurship and passion.
The mission you're out to achieve is truly important.
- And the clarity with which you answered was fantastic. - Thank you.
We would like to offer you Rs. 80 lakhs for 3%.
of bringing dignity to this profession...
But finally, as you rightly mentioned,
it'll boil down to a very complicated execution game.
Where at some point,
a large funded player steps in
and decides to burn a certain amount of money
in order to attract all the workers
and promise them better prospects, say Rs. 50,000 salary.
For a start-up to win, the risks are very high.
So, I would like to be out.
If you don't get a big round next,
how do you plan on growing the business?
We can work even without funds, sir.
How so?
Our main expenditure is on the product as of now.
We wish to build good tech that's long-lasting.
You can ignore them. How many people are in your team?
- You're ignoring us! - You are ignoring us!
Sir, our tech team consists of five people now.
That's one area where we're spending.
We just started marketing.
But as and when more of our areas become operational,
this huge fixed cost
will get divided over other centres
once they start generating revenue.
I believe you have a complementary team
and you're doing a good job.
Someone has to do it. This has to be solved.
I'll offer you a dream deal.
Oh, my!
By dream deal, I mean I will offer you what you asked for.
We match it.
Oh! [laughs]
- We, too, can offer you a dream deal. - Well done, guys!
Aman, I'm of the opinion
that if Rs. 80 lakhs for 3% equity is doable,
then all three of us can come on board.
[intense music playing]
That's a good idea.
If we can come up with a collective offer...
Think of a counteroffer that all three might accept.
Got it. Just give us one minute.
[intense music playing]
Whoa! Full-on rivalry.
It's alright, they need more money.
- Yes. - Let's get a collective deal.
If we pitch Rs. 40 lakhs each, that's Rs. 1.6 crores...
Rs. 1.6 crores for 4% equity.
I suggest that we offer Rs. 1 crore for 3.75% equity.
- We can split it. - 4%, that way we get 1% each.
[intense music playing]
We have a counteroffer.
If the four of you
Look, I am out. You can speak to others.
[intense music playing]
Consider Rs. 1 crore for 3% equity. What will the valuation come to?
Rs. 80 lakhs for 2%...
It's easy now. It's easy.
Look, two Sharks are out.
Three Sharks are in
which is Peyush, Namita and me.
[intense music playing]
Superb!
- And you are awesome. - Thank you.
I love the way you answered us.
- Thank you, ma'am. - Very nice.
[euphoric music playing]
[camera shutter clicks]
Hello, Sharks.
Meet my friends, Rekha, Jaya and Sushma.
- You reminded me of Nirma's ad. - [chuckles]
[music playing]
All three have different hair types and so their problems vary.
While one suffers from hair fall and dandruff,
the other suffers from oily scalp and frizziness.
But when they step out to buy shampoo,
they find the same old thing.
A different shampoo for dandruff, a different shampoo for hair fall,
and a third one for oily scalp.
How many products must a person buy?
If we customize shoes to fit our feet,
then why can't we customise our shampoo as per our needs?
Why must we use the same timeworn generic products
that don't yield results?
I established my company to solve just this problem.
[music playing]
Ravel is a brand
that takes into consideration your hair type, requirements and goals
to make customised hair care products.
You simply need to go to our website and take a quiz.
The questions will cover every aspect
right from your hair type to treatments.
You can choose the colour as well as the fragrance.
Not just that, you can even choose to get the bottle personalised.
Wow!
On the basis of your answers,
our team will curate unique and customised products for you
by using the right and effective ingredients.
Sharks, all our products are sulphate and paraben free.
They're made in India and follow clean beauty standards.
that are solely meant for them.
So, today, in exchange of 2.5% equity,
[Sharks laugh]
- Ayush, welcome to Shark Tank. - Thank you.
How did the idea of this venture occur to you?
And also tell us something about yourself.
I come from a small city in Maharashtra by the name Amravati.
I came to Mumbai to pursue graduation.
I did engineering in computer science.
I was sure of one thing. I didn't want to take up a job after college.
But I didn't know what I wanted to do either.
After I did engineering,
I went backpacking for 6 months all over India.
I have been to Sikkim, Meghalaya, Himachal...
Everywhere basically.
I understood India's cultural diversity.
The diet, environment and the people of every region are different.
But the products are similar.
That's how the idea dawned upon me.
I began working on the company in November 2018.
The R&D lasted for 1.5 years.
The company was established in November 2018.
And you launched it in January 2021.
Even the time to market is important.
Don't you think you took too long?
I am not from this background. So, I had to assemble a team.
I hired consultants and we did a lot of trial and error.
Many batches failed.
Then we started all over again, and the lockdown was imposed.
- We launched the company on 16 March 2020. - Okay.
But the lockdown was imposed five days later.
What is your current revenue?
Has your business gained traction in the last four months
because you've raised funds?
We haven't raised funds.
We're completely bootstrapped even now.
So, are your current sales of Rs. 40 lakhs per month
GMV or net sales?
- It's unheard of. - I'm trying to fathom it.
Well, I handle marketing all by myself.
So, I run all the ads.
Do you have a background in marketing?
Not exactly, but I've learnt it.
What did you show in the ad that instantly clicked with people?
My pattern-breaking hooks worked.
He's doing breakthrough marketing.
Firstly, it's such a competitive market.
If, at the core level, all the brands are sustaining solely on marketing,
then how sustainable is it to...
That's my point. A business can't sustain itself on marketing.
You need to work on the product.
You get repeat orders,
and word-of-mouth recommendations are of great help too.
What's the percentage of repeat orders?
- No, 40. - Net revenue.
Net revenue will be lower. He's talking about net sales.
Yes, I'm talking about GMV.
Yes, you could minus 10% from all the figures.
[music playing]
'What is net revenue?'
'From your gross revenue, you deduct discount,'
'commission, GST'
'and sales return, and you get your net revenue.'
From this Rs. 35 lakhs, give us a split of body care,
skincare and hair care.
That's the best part.
100% of sales are from hair care.
How will you customise over there?
We have data of about 2 lakh people.
So, I know what profiles are mainly the people's requirements.
- Interesting. - So, for about 60 to 70% profiles,
we can make mass-produced products and launch those.
Give me an example or show me your website.
- Give us a demo. - Yes.
- Then show us your products after that. - Done.
- Namita, would you like to take the quiz? - Okay.
[pleasant music playing]
- Should I tap order your formula? Okay. - Yes, order your formula.
Female. Wavy. Medium.
[pleasant music playing]
You know? Won't answering so many questions
- exhaust the customer? - Those who intend to, do it.
It's every day. The answer is every day.
What's the percentage of people who answer all the questions?
We get 55% submissions.
A lot of people start, but 55% get to this stage.
- You can have this back. - Can we see the products?
- Sure. - Thank you.
[uplifting music playing]
- It's personalised. - Wow!
Good job.
The colour seems artificial.
I find this artificial and gimmicky.
It doesn't seem authentic.
[intense music playing]
The blue one in particular
is preferred by most people.
Let's take a minute to understand your industry.
This is personalised BPC, beauty and personal care.
Let's establish its boundaries.
On the one hand,
you consult one on one with an expert.
He prescribes you the products you should use.
On the other hand, is AI.
which is very painful according to what I saw.
[intense music playing]
On the basis of those answers,
you formulate your product and sell them.
Do you think
the market will split and become fragmented
in these various spaces?
The hybrid model would be perfect.
I need a little guidance when it comes to the tech stack,
and that is something we can do later on.
We started the company a year ago.
The technology is not yet developed
and we haven't gone in that direction yet.
[intense music playing]
The dynamics seem half-baked to me.
I would suggest
that you conduct a bit more research on your own industry.
When I was starting,
a lot of Indian brands had already entered the market.
But the problem with them was they wouldn't focus on quality
or the price.
I learnt from their mistakes.
I met the founders of those companies.
That's how I got to know what issues they faced internally.
This is my suggestion to you. I am out.
Go deeper into your industry
so that you don't make the mistakes the others did.
That's my only suggestion.
Firstly, Ayush, I like your energy and positivity.
- Keep that up. - Thank you.
But if you remember, in season one,
I had invested in a brand
that is into hair care, skincare...
Auli.
Body care... Auli.
[Sharks laugh]
I have already invested in it.
I would like to say
please focus on hair care
and expand it.
Then make an entry into other segments.
That's my only feedback.
But I am out. I wish you the very best.
Look, this category is very interesting.
Let me tell you the challenges, Ayush.
You're creating all the combinations through your quiz.
Curly, straight, wavy,
curly but oily and others.
Even if there are 50 combinations...
Nowadays, D2C brands
are exploring every single category.
For instance, curly with 20 different problems.
Similarly for wavy hair.
They have an SKU for everything.
That's where the challenge lies.
So, inventory or the number of SKUs is no longer a constraint.
Best of luck to you. For now, I am out.
[intense music playing]
What is your repeat cohort?
[tense music]
But...
According to me, 35% is good for a 6-month cycle.
And our 20% repeat rate
is because our business doubles up every two months.
What is your personal goal?
Do you want to stick to this category
or you may choose any category as you want to grow your business
somehow?
I want to stick to this category
and I want to optimise the product and give the best solutions.
I can see a lack of product differentiation
and the lack of a wow factor in terms of packaging and branding.
I find it missing.
So I'm out.
[sweeping music]
If you want to change the category
and expand your business to make glasses...
[chuckling]
Then I might fund you.
Ayush, tell me something.
You spent just Rs. 10 lakhs out of Rs. 35 lakhs on marketing.
How much profit did you make?
[dramatic music]
Secondly, your business will double up in two months
and you'll generate Rs. 10 lakhs profit.
Why do you want an investment?
- I don't need just money, I need guidance too. - What guidance?
Like you said that we can make its operation tech-based.
I need input because I'm just 26 years old.
There's a lot that I don't know.
And we have marketed our product to the best of our abilities.
I think all Sharks are out so I'll tell you my decision.
I think your business is enticing.
I was excited after I heard your profit numbers.
On second thoughts, you are doing everything alone.
You'd need a team as you scale up.
So I think your profitability will take a hit.
Sir, I agree but my profit will increase in proportion to the cost.
Alright. I have a conditional offer for you.
[suspenseful music]
It's based on your profit in the next two months.
We'll earn Rs. 75 lakhs after two months.
As of now, we have a net profit of 17%.
To be on the conservative side,
I think we can make a profit of 10%-11% out of Rs. 75 lakhs.
The BPC industry has companies with Rs. 2 crores monthly revenue
but VCs aren't investing in them. How will I get the exit?
I'll get it either from your cash flow or if a VC invests money.
Right!
I made this offer because of that reason.
Plus your net revenue isn't Rs. 5 crores ARR.
The ARR is Rs. 3.5 crores.
It is Rs. 3.5 crores. If we reduce the GST, the valuation would be...
- It would be 2X. - It's 2X.
Higher than 2X.
That's my last offer.
[adventurous music]
- Is it your final? - It's my final offer. It's non-negotiable.
[dramatic music]
Good decision, buddy!
Thank you!
Another A in the tank.
Ah!
[photo clicking]
- All the best! - Thank you!
- Okay, Ayush! Bye! - Thank you!
- Good luck! - Thank you! Good luck!
[triumphant music]
'HoneyVeda!'
If a honeybee is let out onstage somehow and it doesn't get caught,
all of us will have to run away.
[bee buzzing]
Greetings, Sharks! You must have got scared after hearing this noise.
- Yes! - It's natural.
Contrarily,
honeybees are no less than a boon for human beings.
Really?
Also, Albert Einstein said
if honeybees don't exist, the world will end.
Without the pollination done by honeybees,
more than 70% of our crop yield will be affected.
And we human beings
destroy or burn the beehives
mercilessly.
[ethereal music]
Only 20% of the hive
contains honey.
The remaining 80% of the hive
consists of honeybees not yet born.
All of them die or lose their home after the hive is destroyed.
I couldn't tolerate this unfair practice.
We started HoneyVeda to solve this problem.
Greetings! My name is Hardik.
[ethereal music]
HoneyVeda is a brand
that delivers bee products like honey and beeswax
to customers without killing the bees.
We have achieved expertise as a bulk supplier
in the B2B vertical currently.
into a reliable D2C brand.
We have trained more than 200 farmers
and tribal people in beekeeping.
Sharks, our ask
is Rs. 75 lakhs for 7.5% equity.
Beekeeping is an interesting profession.
Did you like doing it since your childhood or...
And I chose beekeeping as a part of that programme.
Later on, I came to know about the importance of honeybees
and their contribution to farming.
I got inspired
and researched for three years
in beekeeping alongside my job. I made mistakes and learnt
from them. When I was confident, I left my job
and launched HoneyVeda.
[ethereal music]
The pollination process
has been benefiting
farmers in getting a good yield for centuries.
So naturally, when honeybees were killed near the farms,
the farmers experienced a decline in their yield.
[vocalising]
Beekeeping is a scientific way
of handling honeybees.
[vocalising]
Instead of killing them,
we breed them to increase their population
and harvest honey and other bee products.
[dreamy music]
It's a house for honeybees just like our houses.
[mellow music]
And it is fitted with frames like these.
You may consider a frame to be a hive.
We line this frame
with a wax foundation sheet.
Its appearance is hexagonal.
The honeybees start making the honeycombs
on the foundation sheet.
The bee box
has only one queen.
Look at the circled honeybee.
Its length is greater than the worker bees.
- The queen bee! - Only one queen bee stays in one house.
It's a miracle that Shark Tank has two queens.
[chuckling]
If we want to take them to a lychee orchard in Uttarakhand
or the mustard flora of Rajasthan
or Gujarat's ajwain farms,
we do the migration.
Let me tell you that the boxes contain honeybees.
We deploy these boxes
beside the farm.
[ethereal music]
Then the honeybees sit on the flowers
and collect the nectar and pollen.
It brings the pollen
and deposits it
in the hive which is used to make honey.
[inspirational music]
'If I do beekeeping beside a farm, '
'it'll help agriculture ultimately.'
'The farmers will benefit as their yield will increase.'
[motivational music]
'My benefit is that I'll get honey from fresh flowers'
'for my consumers.'
Have you brought honey for us to taste?
- Yes! - Yes, we have.
[joyful music]
It must be loaded with sugar.
It contains natural sugar.
After the honeybees suck
the sucrose from flowers, they divide it into fructose and glucose.
Ajwain is too enticing.
Though it's sweet, it tastes like ajwain.
Actually, it's our hero product.
Thank you!
Is it something special made by you?
It's our industry's irony
that the production of mustard honey is the highest
but it's not in demand in India because it gets crystallised.
Mustard honey comprises
more than 80% of our exports
because they don't have a problem with crystallisation.
In future, we'll introduce this product
from a refrigerated supply chain
and try to project it as a replacement for jams.
if a honeybee comes here
and we shoo it away, you'll start crying.
- Yes. - Right?
How did you get rid of your fear of honeybees?
Its impact and the business opportunity
might have helped me to carry on.
Money shooed your fear away.
[laughing]
Please educate me from a health perspective.
As a sugar substitute, is honey better
than jaggery and dates?
I don't know it on a calorie-count basis
but in terms of nutrients,
it's one of the superfoods.
It's my advice to you that it's always good
to know your competition.
And for honey,
- one of your biggest competitors is jaggery. - Jaggery!
You must be fully educated.
Okay.
In FY 20-21,
- Alright. - The second major chunk was from bulk orders.
And the third major chunk was earned through our brand.
[dramatic music]
By last year, we were confident enough
to meet the major exporter
of these products.
We explained to him the concept of beehive-to-bottle.
They were assured that we can give them a consistent supply
and we gradually increased our sales.
The funding we'll get
will majorly be used for two things.
You mean the fund you'd get from us.
- Did you already get funds? - No. I mean Sharks.
It seems you are sure of getting funds.
I'm hopeful.
- Awesome! - How will you utilise it?
We have 600 such colonies.
the margin can go up to 30%.
But 30% is still less, right?
Ma'am, there are no expenses after sales in this business.
[dramatic music]
What do you do?
Sir, I'm his brother.
- Alright. - Basically, I work as a distributor of pharmaceuticals.
What are you saying?
So your deal is confirmed.
What companies do you distribute for?
I do it for 28 companies.
- Do you work for Emcure? - No. I'm sorry.
Aren't you two together in this business?
- We work together. - Okay.
He has the experience of running a family business for 15 years.
So I appointed him as the director.
I have never liked honey but my wife and kids eat them.
What do you like then?
Butter chicken I guess!
I'm not interested in honey.
For me, my wife is the only honey in my life.
And I adore her.
Also, I don't like the taste of honey.
So I'm out.
There are two things because of which I'm out.
Number one, there's confusion
because you want to sell honeybees and bulk orders too.
You want to venture on towards becoming a trusted D2C brand also.
It's a bit difficult to do all these things simultaneously
in a cluttered and unorganised market.
So it's an early stage for me
- but I wish you the best. - Thank you!
You want to be a D2C brand but you are in an early stage.
I think you should pursue it
and make it a brand as you have the core strength.
You'll surely do well in this category
- but I'm out for now. - Okay.
I think
how will you go about it?
Can you chalk out a plan for the next three years?
Firstly, we will have to increase our production
so we'll increase bee colonies.
What will be the cost?
- It'll cost around Rs. 60 lakhs. - Alright!
Our products are ready to be exported.
We just need licenses and certificates related to exporting.
As soon as we finish increasing our colonies,
we'll get the certification and licenses first.
What will be your profit this year? I mean the net profit.
We have saved Rs. 7 lakhs after deducting all the expenses.
Our target is to increase it to Rs. 3.5 crores to Rs. 4 crores
- if we get funded. - What about profit?
We'll safely secure 25% of the sale.
- So you'll earn a profit of Rs. 30 lakhs to Rs. 40 lakhs. - Yes!
10%...
- What do you think? - I'm thinking Rs. 50 lakhs
and 10% for both of us.
- What is the valuation you want to give? - Rs. 2.5 crores.
We'll also give you Rs. 25 lakhs as a debt
Thank you very much for your trust
and for making an offer to us.
What is your counteroffer?
I have offered debt so many times
on Shark Tank. It's the first time, somebody negotiated for interest.
No, Hardik. Try to understand
- that we know how to establish a business. - Of course!
Your business requires tremendous effort.
Please say yes or no and then we'll take it forward.
Your business requires strenuous efforts so accept his offer.
- They are good partners. - We didn't aim to get a good valuation.
You assured us
that you'd support us in future when our company needs you.
We are trusting you on this
and we close the deal.
- Cosmetics... - Beeswax! Beeswax is used a lot.
I'll buy it from you.
Thank you very much!
Congratulations!
- Thank you! - Congratulations!
[triumphant music]
Thank you!
Thank you, Sharks!
- Best of luck! - Thank you!
'Peyush, in today's Shark Xperience segment, '
'Rahul from Moga has a question for you.'
'What is investment winter?'
'And how does it affect businesses?'
The investors have a herd mentality