1 00:00:31,840 --> 00:00:34,960 'We made a revolutionary product which is a night incense stick.' 2 00:00:35,080 --> 00:00:36,520 'It leaves the room so fragrant' 3 00:00:36,600 --> 00:00:39,600 '- and automatically puts you in a romantic mood. - Gosh!' 4 00:00:39,920 --> 00:00:43,360 'Sharks, we have many flavours for you all.' 5 00:00:43,440 --> 00:00:46,200 'Like Romance, Classic Love, Extreme Fun.' 6 00:00:46,280 --> 00:00:48,120 'Which Shark are you hinting at?' 7 00:00:48,200 --> 00:00:50,200 'The one in dire need of extreme fun!' 8 00:00:51,480 --> 00:00:53,280 'First, a quality check is performed.' 9 00:00:53,360 --> 00:00:55,360 'The drug should match the order number.' 10 00:00:55,440 --> 00:00:57,840 'The machine starts making packets then.' 11 00:00:57,920 --> 00:01:00,360 'Every packet has the name of the drug, the time' 12 00:01:00,440 --> 00:01:02,240 - '- and the date printed on it. - Excellent.' 13 00:01:02,320 --> 00:01:03,560 'Our concept is simple.' 14 00:01:03,640 --> 00:01:06,160 'To make food for different brands using the same ingredient.' 15 00:01:06,280 --> 00:01:07,520 'So that wastage is minimum' 16 00:01:07,520 --> 00:01:09,160 'and customer satisfaction is maximum.' 17 00:01:09,280 --> 00:01:10,800 - '- The taste is nice. - Very nice.' 18 00:01:10,920 --> 00:01:12,240 'What are your current sales?' 19 00:01:12,320 --> 00:01:14,240 'We have clocked Rs. 4.1 crores of revenue.' 20 00:01:14,280 --> 00:01:15,920 'Rs. 70 lakhs in 7 months.' 21 00:01:16,000 --> 00:01:17,480 'We'll make you an offer.' 22 00:01:18,040 --> 00:01:20,240 - '- All five Sharks on board. - A five-Shark deal.' 23 00:01:20,520 --> 00:01:21,680 'May we discuss it?' 24 00:01:21,760 --> 00:01:24,640 'It's a five-Shark deal which is extremely rare.' 25 00:01:25,680 --> 00:01:28,280 'The company that took the five-Shark deal last season' 26 00:01:28,360 --> 00:01:31,440 - '- is on the top. Just imagine.' - They have gone off the charts!' 27 00:01:31,560 --> 00:01:32,760 'Please make a decision.' 28 00:01:33,400 --> 00:01:36,200 [theme music plays] 29 00:01:48,280 --> 00:01:51,360 [theme music fades] 30 00:01:52,840 --> 00:01:54,560 - Hi, Sharks. - Hello. 31 00:01:54,640 --> 00:01:57,200 Every mother has a common problem each morning. 32 00:01:57,320 --> 00:01:58,960 "What meal do I pack for lunch?" 33 00:01:59,120 --> 00:02:01,480 And mornings are usually so chaotic 34 00:02:01,560 --> 00:02:03,640 that you pack bread-jam, 35 00:02:03,760 --> 00:02:05,960 noodles and chips, which are all unhealthy foods. 36 00:02:06,040 --> 00:02:09,160 Once the kids go to school, you're overcome with guilt. 37 00:02:09,240 --> 00:02:11,600 "I wish I had packed some nutritious snack." 38 00:02:11,680 --> 00:02:13,920 GladFul is here to rid you of that guilt. 39 00:02:14,000 --> 00:02:15,880 [music playing] 40 00:02:16,320 --> 00:02:18,080 Hi, Sharks. My name is Parul. 41 00:02:18,160 --> 00:02:20,480 And I'm a mother to two very cute kids. 42 00:02:26,080 --> 00:02:29,040 We're from Jaipur and we're the cofounders of GladFul. 43 00:02:29,120 --> 00:02:30,640 [music playing] 44 00:02:30,760 --> 00:02:34,360 GladFul is India's first family-friendly protein brand. 45 00:02:34,480 --> 00:02:36,920 We offer power-packed protein cookies, 46 00:02:43,960 --> 00:02:48,240 It is because 73% of Indians are protein deficient. 47 00:02:48,800 --> 00:02:50,880 We believe that two bowls of dal 48 00:02:51,040 --> 00:02:52,400 fulfil our daily protein requirement. 49 00:02:52,480 --> 00:02:53,680 But that's not true. 50 00:02:53,960 --> 00:02:56,160 If your child weighs 30 kilos, 51 00:02:56,240 --> 00:02:59,720 then he needs 30 to 40 grams of protein daily. 52 00:02:59,800 --> 00:03:03,440 To meet this need, we bring protein to the kids 53 00:03:03,520 --> 00:03:05,000 and to their parents. 54 00:03:06,120 --> 00:03:09,080 If parents notice that their kids are slightly hungry, 55 00:03:09,160 --> 00:03:10,800 they can rest assured 56 00:03:10,880 --> 00:03:14,520 because every serve of GladFul contains 4 to 6 grams of protein. 57 00:03:18,840 --> 00:03:22,240 gets approval by a strong community of 350 mothers. 58 00:03:34,920 --> 00:03:36,800 We wish to make products 59 00:03:36,880 --> 00:03:38,680 that Indian families eat on a daily basis 60 00:03:38,720 --> 00:03:40,160 and are habituated to. 61 00:03:41,000 --> 00:03:44,240 We aim at making the nation protein sufficient 62 00:03:44,320 --> 00:03:46,240 and building a strong India. 63 00:03:56,240 --> 00:03:59,560 so that every Indian mother feels glad with GladFul. 64 00:03:59,720 --> 00:04:01,000 Alright. 65 00:04:02,160 --> 00:04:04,360 Manu and Parul, welcome to Shark Tank. 66 00:04:13,280 --> 00:04:15,720 - Did you do your schooling there? - We studied in the same school. 67 00:04:15,800 --> 00:04:17,680 - Oh. - I pursued B.A. honours in Economics 68 00:04:17,760 --> 00:04:19,160 and went on to pursue MBA. 69 00:04:19,240 --> 00:04:22,440 - After which I worked in Cadbury for 15 years. - Wow! 70 00:04:22,440 --> 00:04:26,200 I launched quite a few products and filmed a few ads. 71 00:04:26,320 --> 00:04:28,360 Were you a brand manager or a category manager? 72 00:04:28,440 --> 00:04:31,000 When I joined the marketing team in 2010, 73 00:04:31,040 --> 00:04:32,560 I was the brand manager 74 00:04:32,600 --> 00:04:34,520 for Cadbury Dairy Milk Silk and Bournville. 75 00:04:34,600 --> 00:04:36,400 - Wow! I love Silk. - I was... 76 00:04:36,440 --> 00:04:38,400 - Yes? It's a fantastic product. - One of my favourite chocolates... 77 00:04:38,480 --> 00:04:40,440 After that, I managed Cadbury's Gems portfolio 78 00:04:40,480 --> 00:04:42,600 as well as their kids' portfolio. 79 00:04:42,640 --> 00:04:45,040 My dream brand was Cadbury Dairy Milk. 80 00:04:45,080 --> 00:04:46,480 And then I became senior brand manager for it. 81 00:04:46,560 --> 00:04:48,520 I moved on to being category manager, chocolates, 82 00:04:48,600 --> 00:04:51,040 where quite a few brands like 5 Star, Celebrations, 83 00:04:51,120 --> 00:04:52,680 and the gifting portfolio were under me. 84 00:04:52,720 --> 00:04:54,120 Amazing experience. 85 00:04:54,720 --> 00:04:56,920 What have you done, Manu? What's your background? 86 00:04:57,040 --> 00:04:59,920 - Sharks, I'm a Chartered Accountant by academic background. - Oh, my! 87 00:04:59,960 --> 00:05:02,760 Sir, I've done audits for you earlier. 88 00:05:02,880 --> 00:05:04,160 - Really? - In CarDekho. Yes. 89 00:05:04,240 --> 00:05:05,240 Tell us his secrets. 90 00:05:05,320 --> 00:05:07,040 [unanimous laughter] 91 00:05:07,160 --> 00:05:08,520 Tell us everything today. 92 00:05:10,160 --> 00:05:12,760 It was the coolest office during 2013-14. 93 00:05:12,840 --> 00:05:15,440 - It had foosball and gaming... - CarDekho? 94 00:05:15,560 --> 00:05:16,600 - Yes, sir. - Wow! 95 00:05:21,320 --> 00:05:22,840 - Last year. - We quit last year. 96 00:05:23,000 --> 00:05:25,160 We spent around 9 months conducting research. 97 00:05:25,240 --> 00:05:27,000 We launched the product in January. 98 00:05:34,280 --> 00:05:36,200 Did it come up somewhere? What happened? 99 00:05:36,280 --> 00:05:38,680 I used to be at home after 2019. 100 00:05:38,760 --> 00:05:41,160 I had always been a career woman before that. 101 00:05:41,240 --> 00:05:44,040 At that time, my kids were 6 and 9 years. 102 00:05:44,120 --> 00:05:45,760 My elder son was 9 years. 103 00:05:45,840 --> 00:05:48,760 He sustained fractures and cuts one after the other 104 00:05:48,800 --> 00:05:51,000 and they took a long time to heal. 105 00:05:52,120 --> 00:05:54,200 The pediatrician asked me a couple of times, 106 00:05:54,320 --> 00:05:56,880 "What are you doing for protein? Do you know how much is required?" 107 00:05:56,960 --> 00:05:59,440 So, I looked up a protein calculator on the internet 108 00:05:59,480 --> 00:06:01,040 and made a note of it daily. 109 00:06:01,120 --> 00:06:03,440 5 grams from a glass of milk. 110 00:06:03,440 --> 00:06:05,760 - 4 grams... - It must not have been more than 15 grams. 111 00:06:05,840 --> 00:06:08,160 His requirement was 44 grams 112 00:06:08,160 --> 00:06:09,840 - whereas we were giving him 20 grams. - Ah! 113 00:06:09,920 --> 00:06:13,200 I realised I had made a grave mistake. 114 00:06:14,280 --> 00:06:15,960 I resided in Jain Society. 115 00:06:16,000 --> 00:06:18,440 I spoke to my neighbours and friends 116 00:06:18,480 --> 00:06:20,960 and began calculating 117 00:06:21,040 --> 00:06:22,960 the protein intake of their children. 118 00:06:23,040 --> 00:06:25,720 I realised this was a widespread problem. 119 00:06:25,720 --> 00:06:27,480 And I identified the opportunity. 120 00:06:34,000 --> 00:06:37,720 They try not to give them cookies, chips and other bad food. 121 00:06:37,840 --> 00:06:41,000 They feed them natural foods like eggs and dal. 122 00:06:41,040 --> 00:06:43,520 This is another challenge in this industry, right? 123 00:06:44,200 --> 00:06:46,440 Our community of 350 mothers 124 00:06:46,520 --> 00:06:50,400 is aware that children will eat healthy food on three occasions. 125 00:06:50,480 --> 00:06:53,400 They will eat healthy food for breakfast, lunch and dinner. 126 00:06:53,480 --> 00:06:56,200 And in between, there are two to three occasions 127 00:06:56,280 --> 00:06:57,840 when kids ask for a snack. 128 00:06:59,280 --> 00:07:01,480 It's unavoidable frankly speaking. 129 00:07:01,560 --> 00:07:05,120 - Products like chips and cookies fall under that category. - Correct. 130 00:07:05,280 --> 00:07:08,720 Our intent is to provide taste on those couple of occasions, 131 00:07:08,800 --> 00:07:12,040 and why not consume 4 grams of protein while you're at it? 132 00:07:13,520 --> 00:07:15,560 I understood her trigger point. What about you? 133 00:07:15,640 --> 00:07:19,160 I'm just 28, sir, and I was diagnosed with diabetes. 134 00:07:19,240 --> 00:07:20,840 - At such an early age. - Yes, sir. 135 00:07:20,880 --> 00:07:23,600 That was a very alarming time for me. 136 00:07:23,680 --> 00:07:26,240 Are lower protein levels linked to diabetes? 137 00:07:26,320 --> 00:07:29,240 - Lower protein automatically means high carbohydrates. - Right. 138 00:07:29,320 --> 00:07:31,520 High carbohydrates mean high sugar. 139 00:07:31,600 --> 00:07:33,560 Ultimately, that is linked to diabetes. 140 00:07:33,680 --> 00:07:37,560 When I was detected with diabetes, I said I needed to do this. 141 00:07:37,640 --> 00:07:40,080 That's why I joined Parul. 142 00:07:40,480 --> 00:07:42,760 - I'll show you the products. - Okay. 143 00:07:43,600 --> 00:07:46,040 I like the box. It's lovely. 144 00:07:46,080 --> 00:07:47,360 Ultimately, it'll go in a lunch box. 145 00:07:47,400 --> 00:07:49,920 - So, we thought why not? - I like burgers. 146 00:07:50,480 --> 00:07:52,640 Unfortunately, Aman, it doesn't contain burgers. 147 00:07:52,720 --> 00:07:53,760 I want the dog. 148 00:07:54,520 --> 00:07:56,200 So, is one cookie sufficient? 149 00:07:56,280 --> 00:07:59,160 No. One serve is. One serve comprises two cookies. 150 00:08:03,720 --> 00:08:04,920 The boxes are not ours. 151 00:08:16,520 --> 00:08:18,320 Can you tell me what I am eating? 152 00:08:18,400 --> 00:08:19,760 This is a chocolate chip cookie, sir. 153 00:08:19,840 --> 00:08:20,880 What are these small items? 154 00:08:20,960 --> 00:08:22,840 - They are orange minis. - Mini cookies. 155 00:08:22,960 --> 00:08:25,400 - None of them contain maida. - No. 156 00:08:25,480 --> 00:08:26,800 - No. - No maida at all. 157 00:08:26,840 --> 00:08:27,880 - No cholesterol. - What's it made of? 158 00:08:27,960 --> 00:08:29,160 Whole wheat flour, ma'am. 159 00:08:29,800 --> 00:08:32,040 - Show us the packaging as well. - Sure. 160 00:08:32,120 --> 00:08:34,840 [pleasant music playing] 161 00:08:34,960 --> 00:08:35,840 The cheela is good. 162 00:08:35,840 --> 00:08:37,760 Yes, your products are nice and taste good. 163 00:08:37,960 --> 00:08:38,800 Thank you so much. 164 00:08:38,880 --> 00:08:40,840 Is this only for kids? Can't I eat it? 165 00:08:40,920 --> 00:08:41,960 You absolutely can. 166 00:08:42,040 --> 00:08:44,960 The cheela contains 8 to 9 grams of protein per serve. 167 00:08:45,040 --> 00:08:46,960 [pleasant music playing] 168 00:08:47,080 --> 00:08:48,000 What would you like? 169 00:08:48,080 --> 00:08:49,760 - Whatever you'll serve. - We'll take you. 170 00:08:49,800 --> 00:08:51,960 - This looks good. - I'm not available. 171 00:08:52,040 --> 00:08:53,120 [laughs] 172 00:08:55,320 --> 00:08:56,760 I really liked the cheela. 173 00:08:56,840 --> 00:08:58,640 - Yes, I loved the cheela. - Thank you. 174 00:08:58,720 --> 00:09:00,800 Have you made the recipe? 175 00:09:00,880 --> 00:09:02,640 I am not the only chef. 176 00:09:02,720 --> 00:09:05,640 We're working with an experienced chef. 177 00:09:10,600 --> 00:09:12,040 - Really? - Nothing so far tasted bad. 178 00:09:12,120 --> 00:09:15,160 - I like everything. - Thank you for the seal of approval. Thank you. 179 00:09:15,160 --> 00:09:17,320 This is a pack of ten cookies and costs Rs. 150. 180 00:09:17,440 --> 00:09:19,600 So, one cookie will cost me Rs. 15. 181 00:09:19,720 --> 00:09:21,560 Similarly, how much is Good Day priced at? 182 00:09:21,640 --> 00:09:23,880 - I think one-fifth the price. - So, Rs. 3 for one cookie. 183 00:09:23,960 --> 00:09:26,040 Quite a significant price difference for being healthy. 184 00:09:26,080 --> 00:09:27,320 - It is quite significant. - Got it. 185 00:09:27,400 --> 00:09:29,800 I wish to understand your brand strategy. 186 00:09:29,880 --> 00:09:33,800 This is not cookie clutter breaking packaging, right? 187 00:09:34,840 --> 00:09:35,800 It's similar. 188 00:09:35,800 --> 00:09:37,480 If I go to any shop, 189 00:09:37,560 --> 00:09:40,640 all the brands have a similar vibe and similar colour tonality. 190 00:09:40,960 --> 00:09:43,640 They all look the same. Did you conduct any studies on this? 191 00:09:43,720 --> 00:09:47,920 We designed these boxes in this fashion because we know 192 00:09:48,000 --> 00:09:50,800 that our business will be online in the foreseeable future. 193 00:09:50,920 --> 00:09:53,480 We have borrowed some codes from this category. 194 00:09:53,520 --> 00:09:56,240 The look of the cookie and the flat colour 195 00:09:56,320 --> 00:09:58,960 on the box conveys that this is like regular cookies. 196 00:09:59,040 --> 00:10:00,880 The consumer should not feel 197 00:10:00,920 --> 00:10:02,920 that protein cookies are a completely different product. 198 00:10:03,000 --> 00:10:05,760 Can you tell us the market size of protein cookies? 199 00:10:05,840 --> 00:10:08,960 The protein cookie market is very small and non-existent. 200 00:10:09,000 --> 00:10:11,680 - Rough figure. Any idea? - It's just about starting, sir. 201 00:10:11,800 --> 00:10:14,480 There are many companies in the western market 202 00:10:14,720 --> 00:10:16,800 that solely focus on protein 203 00:10:16,840 --> 00:10:18,840 and make a revenue of Rs. 1000 crores. 204 00:10:20,360 --> 00:10:22,600 Let's talk about sales. Can you tell us about your sales? 205 00:10:30,640 --> 00:10:31,440 Very good. 206 00:10:31,480 --> 00:10:33,240 Through which channel mostly? 207 00:10:49,440 --> 00:10:52,200 Quick commerce is a big opportunity for food especially. 208 00:10:52,240 --> 00:10:53,520 A really big opportunity. 209 00:10:53,600 --> 00:10:54,880 Give us your unit economics. 210 00:11:05,280 --> 00:11:06,080 - Yes, sir. - Yes. 211 00:11:06,200 --> 00:11:07,120 In the food category! 212 00:11:12,720 --> 00:11:14,640 I've rarely seen anyone burn cash in this category. 213 00:11:14,680 --> 00:11:15,960 Their EBITDA is 7 to 8%. 214 00:11:33,040 --> 00:11:36,280 [dramatic music] 215 00:11:37,760 --> 00:11:40,680 I want to be out. 216 00:11:42,080 --> 00:11:45,240 Maybe I'm not the best partner in this category right now. 217 00:11:45,320 --> 00:11:49,040 But great work, great cookies and great presentation. 218 00:11:50,200 --> 00:11:52,560 We'll give you an offer. 219 00:11:53,400 --> 00:11:55,680 Namita and I will give you an offer. 220 00:12:03,160 --> 00:12:05,200 We gave you a valuation 221 00:12:05,280 --> 00:12:08,440 of two and a half times your current sales. 222 00:12:08,520 --> 00:12:10,560 [suspenseful music] 223 00:12:10,920 --> 00:12:13,240 - You already raised a round. - Yes, sir. 224 00:12:32,840 --> 00:12:36,200 I want to grow my company into Rs. 500 crore company within 5 years. 225 00:12:36,720 --> 00:12:39,400 I have an offer for you. 226 00:12:44,400 --> 00:12:46,440 [dramatic music] 227 00:12:55,680 --> 00:12:58,520 Our performance has been impressive in the last 8 to 9 months. 228 00:12:58,600 --> 00:12:59,680 Your burn rate is high. 229 00:13:01,360 --> 00:13:04,240 We haven't listed the existing business on quick-commerce yet. 230 00:13:04,320 --> 00:13:06,400 Last month's sales of Rs. 20 lakhs 231 00:13:06,480 --> 00:13:09,880 will increase to Rs. 30 lakhs to Rs. 35 lakhs by December in no time. 232 00:13:10,000 --> 00:13:11,760 There's an immense opportunity 233 00:13:11,840 --> 00:13:14,640 so I request you to reconsider your offer if possible. 234 00:13:14,720 --> 00:13:15,840 To be honest, 235 00:13:15,920 --> 00:13:18,480 I didn't want to make an offer as I had a problem with the taste. 236 00:13:18,560 --> 00:13:20,480 [dramatic music] 237 00:13:20,560 --> 00:13:23,600 I felt that giving you a valuation of Rs. 5 crores is unfair to you. 238 00:13:26,000 --> 00:13:28,520 I wanted to increase your valuation to Rs. 13 crores. 239 00:13:31,680 --> 00:13:33,640 [dramatic music] 240 00:13:34,080 --> 00:13:35,760 I have an offer too. 241 00:13:35,840 --> 00:13:38,000 [thrilling music] 242 00:13:38,280 --> 00:13:40,200 Rs. 50 lakhs for 3.5% equity. 243 00:13:45,920 --> 00:13:47,840 [thrilling music] 244 00:13:51,160 --> 00:13:52,640 We didn't know you already received funding 245 00:13:52,720 --> 00:13:55,880 when we made an offer so we'll make a revised offer. 246 00:13:56,760 --> 00:13:59,120 As we are two Sharks investing together, 247 00:14:09,520 --> 00:14:12,000 I did my work. Now I'm out of this deal. 248 00:14:13,880 --> 00:14:15,720 You may choose from two good offers. 249 00:14:15,800 --> 00:14:16,880 I wish you all the best. 250 00:14:16,960 --> 00:14:17,920 Why are you out? 251 00:14:18,000 --> 00:14:20,000 She has got two offers at the right valuation. 252 00:14:20,080 --> 00:14:21,800 [thrilling music] 253 00:14:24,920 --> 00:14:26,440 I want to tell you a few things. 254 00:14:26,520 --> 00:14:28,680 Your knowledge of Cadbury 255 00:14:28,760 --> 00:14:30,480 will be beneficial in brand building. 256 00:14:31,560 --> 00:14:34,720 You just need to get knowledge of online sales. 257 00:14:34,840 --> 00:14:38,760 We will teach you how to crack online marketplaces. 258 00:14:38,840 --> 00:14:39,920 It's no big deal. 259 00:14:40,000 --> 00:14:41,360 [dramatic music] 260 00:14:41,440 --> 00:14:43,920 When you tell your investors that Aman and Namita joined you, 261 00:14:44,000 --> 00:14:46,360 they'll be like, "wow! You have done the best thing." 262 00:14:47,000 --> 00:14:48,640 When you tell them that Amit is the investor, 263 00:14:48,720 --> 00:14:51,640 they'll be assured of business growth in terms of unit economics. 264 00:14:56,240 --> 00:14:59,120 - Yes! - "We are getting both health expert and brand builder." 265 00:15:00,320 --> 00:15:01,960 As you studied my books, 266 00:15:02,040 --> 00:15:04,240 you know that I grow businesses in terms of unit economics. 267 00:15:04,320 --> 00:15:07,520 I think both of you said enough. Parul, please make a decision. 268 00:15:07,600 --> 00:15:09,680 [sweeping music] 269 00:15:12,720 --> 00:15:15,520 If you want to grow your business, choose me. I'm being forthright. 270 00:15:15,600 --> 00:15:17,760 [dramatic music] 271 00:15:18,600 --> 00:15:21,440 - Naman... I'm sorry. Namita... - You may call us Naman. 272 00:15:21,520 --> 00:15:23,880 [laughing] Namita and Aman is Naman. 273 00:15:23,960 --> 00:15:26,920 Team Naman, I request you 274 00:15:27,000 --> 00:15:28,760 because I need your expertise. 275 00:15:30,520 --> 00:15:32,320 Can you please join Amit in his offer? 276 00:15:32,440 --> 00:15:34,200 - You mean you want the three of us to come together. - Yes. 277 00:15:38,520 --> 00:15:40,280 [dramatic music] 278 00:15:42,040 --> 00:15:43,960 - Please agree. - Come on! 279 00:15:44,040 --> 00:15:45,480 Let's do it. 280 00:15:45,640 --> 00:15:47,320 So we accept the offer. 281 00:16:06,560 --> 00:16:09,480 - I'm glad you got a 'GladFul' deal. - Thank you! 282 00:18:30,080 --> 00:18:32,160 [bubbling] 283 00:18:40,240 --> 00:18:42,400 [ethereal music] 284 00:18:54,560 --> 00:18:57,320 This is a chaotic medicine box 285 00:18:57,400 --> 00:19:00,280 - which can be found in every Indian house. - That's true. 286 00:19:00,360 --> 00:19:03,840 The elderly in our families read the doctor's prescription daily 287 00:19:03,960 --> 00:19:05,760 to take their medicines 288 00:19:05,880 --> 00:19:07,720 and try to guess 289 00:19:07,800 --> 00:19:10,800 the timing of each medicine. 290 00:19:10,920 --> 00:19:13,560 40% elderly depend on a caretaker 291 00:19:13,640 --> 00:19:15,880 to take their medicines 292 00:19:15,960 --> 00:19:18,520 in the right manner, at the right time 293 00:19:18,600 --> 00:19:21,040 and in the right quantity. 294 00:19:21,120 --> 00:19:23,360 So Pharmallama 295 00:19:23,440 --> 00:19:27,280 found an innovative solution to this problem. 296 00:19:27,400 --> 00:19:28,280 Nice. 297 00:19:28,360 --> 00:19:31,720 Hello, Sharks! I'm Achintya Dayal from Bengaluru. 298 00:19:31,840 --> 00:19:33,640 I'm Arjun and I'm also from Bengaluru. 299 00:19:39,200 --> 00:19:42,160 Sharks, many pharmacies in India 300 00:19:42,280 --> 00:19:44,000 deliver medicine online 301 00:19:44,080 --> 00:19:46,560 but their service is limited to delivering medicines. 302 00:19:46,680 --> 00:19:49,520 Pharmallama takes it one step ahead. 303 00:20:07,040 --> 00:20:08,200 They give a pillbox. 304 00:20:08,280 --> 00:20:09,520 Yes, exactly! 305 00:20:20,560 --> 00:20:23,680 is to replace the chaotic medicine box 306 00:20:23,760 --> 00:20:26,320 with Pharmallama smart pillbox in every Indian household. 307 00:20:26,440 --> 00:20:28,280 - Nice. - Our ask 308 00:20:35,960 --> 00:20:38,320 - every house will have Pharmallama! - Pharmallama! 309 00:20:38,800 --> 00:20:42,000 Sharks, with your permission, we want to give a simple app demo. 310 00:20:42,080 --> 00:20:42,920 Please go on. 311 00:20:43,000 --> 00:20:46,640 Sharks, a customer or a patient 312 00:20:46,720 --> 00:20:48,720 can easily start this. 313 00:20:48,800 --> 00:20:52,240 For example, we have Rajeshwari Rajpal's prescription. 314 00:20:52,320 --> 00:20:55,440 They just have to click a clear photo 315 00:20:55,520 --> 00:20:57,800 of their prescription 316 00:20:57,880 --> 00:21:01,000 and upload it to our system. 317 00:21:01,080 --> 00:21:04,080 As you can see, I have already added a few patients. 318 00:21:04,160 --> 00:21:06,000 Let me add Ms. Rajeshwari. 319 00:21:06,080 --> 00:21:08,920 Now I submitted it finally. 320 00:21:09,000 --> 00:21:10,080 As soon as it was uploaded, 321 00:21:15,640 --> 00:21:17,160 and as soon as they get an order, 322 00:21:24,400 --> 00:21:25,920 The best part of Pharmallama is, 323 00:21:26,000 --> 00:21:29,000 you don't have to buy the whole strip if you need 7 days' medicines. 324 00:21:29,080 --> 00:21:31,680 You have to pay for the medicines for just 7 days. 325 00:21:31,800 --> 00:21:34,480 - That's good. It causes a lot of waste. - That's nice. 326 00:21:47,640 --> 00:21:50,160 After getting the order, they use a tablet 327 00:22:14,280 --> 00:22:16,240 in all Indian languages. 328 00:22:16,480 --> 00:22:18,080 It's a QC machine 329 00:22:18,160 --> 00:22:20,560 which does 100% automated quality control. 330 00:22:25,320 --> 00:22:28,160 and they are designed for hospitals in foreign countries. 331 00:22:28,240 --> 00:22:31,680 Their throughput is to make one order in 20 minutes to 25 minutes. 332 00:22:31,800 --> 00:22:35,040 We scrapped the technology layer and remade it. 333 00:22:35,120 --> 00:22:36,520 Now we can proudly say 334 00:22:36,600 --> 00:22:39,400 that we dispense 25 orders in 1 hour from a single machine. 335 00:22:39,480 --> 00:22:42,120 Did you do hardware innovation too? 336 00:22:47,320 --> 00:22:49,040 [motivational music] 337 00:22:51,080 --> 00:22:55,200 We got this idea in mid-2019 338 00:22:55,280 --> 00:22:58,960 - when my mom was diagnosed with kidney failure. - Sorry! 339 00:22:59,040 --> 00:23:01,960 Basically, the reason they gave 340 00:23:02,080 --> 00:23:03,560 was that the overdose of the medicines 341 00:23:03,640 --> 00:23:07,160 taken by her affected her kidney. 342 00:23:07,240 --> 00:23:10,400 We felt frustrated. 343 00:23:10,480 --> 00:23:13,320 We found a solution 344 00:23:13,400 --> 00:23:15,600 and we decided to staple all her medicines in a pouch 345 00:23:15,680 --> 00:23:18,560 and left it for her before going to work. 346 00:23:18,920 --> 00:23:22,440 Later, we realised that we can make an automated version too. 347 00:23:22,520 --> 00:23:26,080 After interacting with more people, we came to know 348 00:23:26,160 --> 00:23:27,800 that patients with Alzheimer's, cancer 349 00:23:27,880 --> 00:23:30,240 and tuberculosis 350 00:23:30,360 --> 00:23:32,800 generally face this problem. 351 00:23:33,320 --> 00:23:36,760 They contacted ACG and discussed with them 352 00:23:36,880 --> 00:23:38,040 and I felt it was perfect 353 00:23:38,120 --> 00:23:41,320 because they are the largest manufacturers of packaging machines. 354 00:23:41,960 --> 00:23:45,240 If we want to grow this in India 355 00:23:45,320 --> 00:23:47,360 and improve the throughput of these machines 356 00:23:53,320 --> 00:23:55,200 Did you discuss this with ACG Pam Pac? 357 00:23:55,280 --> 00:23:56,520 - Yes! - Yes! 358 00:23:56,600 --> 00:23:57,440 Who are they? 359 00:23:57,520 --> 00:24:00,920 ACG Pam Pac makes automation machines for packaging. 360 00:24:01,040 --> 00:24:01,920 Right! 361 00:24:02,000 --> 00:24:03,120 Associated Capsules Group. 362 00:24:03,240 --> 00:24:05,520 They are the largest manufacturers of films and foils. 363 00:24:05,640 --> 00:24:07,920 They are considered the second-largest in the world 364 00:24:08,040 --> 00:24:09,400 in the technology of packing medicines. 365 00:24:09,480 --> 00:24:10,360 How much money did you get? 366 00:24:10,440 --> 00:24:13,160 We raised Rs. 5 crores initially. 367 00:24:24,600 --> 00:24:26,560 Who owns the IP? 368 00:24:26,640 --> 00:24:28,400 ACG Pam Pac or you? 369 00:24:28,480 --> 00:24:30,760 We have a joint MOU 370 00:24:39,760 --> 00:24:41,960 Machines are expensive. 371 00:24:44,120 --> 00:24:47,160 Ma'am, we are a suitable version of PillPack for India. 372 00:24:47,240 --> 00:24:50,440 We want to give you some samples 373 00:24:50,520 --> 00:24:51,760 to show you how it feels. 374 00:24:51,840 --> 00:24:53,040 Yes. Please show us. 375 00:24:54,280 --> 00:24:56,280 [ethereal music] 376 00:25:00,320 --> 00:25:04,320 First, tell me why you chose this symbol and Pharmallama as your name. 377 00:25:04,400 --> 00:25:07,280 Generally, we don't smile when we see a medicine box. 378 00:25:07,520 --> 00:25:08,280 So sweet! 379 00:25:08,400 --> 00:25:11,040 So we decided to have a mascot 380 00:25:11,120 --> 00:25:15,080 so that you get a recall value when you take out the medicines. 381 00:25:15,200 --> 00:25:19,000 - You may also place it on your dining table too. - Okay. 382 00:25:19,680 --> 00:25:21,280 Suppose I'm Tata 1mg. 383 00:25:21,560 --> 00:25:23,400 PillPack can sell in India, right? 384 00:25:23,760 --> 00:25:25,160 I'll approach PillPack 385 00:25:25,240 --> 00:25:28,240 and get the machine from them. Can they give the machine? 386 00:25:28,320 --> 00:25:29,600 Sir, they can definitely give the machine 387 00:25:29,680 --> 00:25:31,920 but the backward optimisation done by us... 388 00:25:32,040 --> 00:25:33,320 No. What difference will it make? 389 00:25:33,400 --> 00:25:35,920 No. PillPack won't give the machine because Amazon owns it. 390 00:25:36,000 --> 00:25:39,280 Then Amazon can buy it for themselves. 391 00:25:39,360 --> 00:25:41,080 Amazon never sell machines. 392 00:25:41,160 --> 00:25:43,240 They'd never give their technology to others 393 00:25:43,320 --> 00:25:45,200 - because they deal in Pharmacy. - That's right. 394 00:25:45,280 --> 00:25:46,960 If they need the machine, 395 00:25:47,040 --> 00:25:50,840 they'd have to buy hospital machines and redevelop this technology. 396 00:25:52,200 --> 00:25:54,120 How much will it cost? 397 00:25:54,240 --> 00:25:57,120 The packaging cost is surprisingly, 398 00:25:57,240 --> 00:25:58,680 just Rs. 20 per order. 399 00:26:03,680 --> 00:26:05,560 and the packets inside it cost Rs. 20 in total. 400 00:26:05,640 --> 00:26:08,520 No, sir. Actually, the other box is meant only for Shark Tank. 401 00:26:08,640 --> 00:26:10,720 Okay, it's for me. Thank you! 402 00:26:10,800 --> 00:26:13,440 How much does the cost of the medicines increase 403 00:26:13,560 --> 00:26:14,920 after these processes? 404 00:26:15,000 --> 00:26:15,920 That's the best part. 405 00:26:23,160 --> 00:26:25,040 People get discounts in India. 406 00:26:25,120 --> 00:26:26,880 [tense music] 407 00:26:27,600 --> 00:26:28,760 The thing is, 408 00:26:28,880 --> 00:26:31,400 though it has now been reduced, 409 00:26:31,480 --> 00:26:35,000 a 20% to 25% discount was given in India on online pharmacies. 410 00:26:35,080 --> 00:26:36,640 Now it has reduced to 15%. 411 00:26:38,400 --> 00:26:40,560 If you aren't giving a 15% discount, 412 00:26:40,640 --> 00:26:42,520 it means you are 15% more expensive. 413 00:26:43,520 --> 00:26:46,400 My dad takes medicines 414 00:26:46,480 --> 00:26:47,920 so I'd be happy with this solution 415 00:26:48,000 --> 00:26:50,200 and I'd be ready to pay for it. 416 00:26:50,280 --> 00:26:53,280 As soon as my dad comes to know that it was purchased on MRP, 417 00:26:53,360 --> 00:26:56,800 he'd ask me to order it from the place that gave a 25% discount. 418 00:26:56,880 --> 00:26:58,400 Exactly! 419 00:26:58,520 --> 00:26:59,600 Why are you selling it on MRP? 420 00:26:59,680 --> 00:27:02,240 If you sell at a lesser price, will you bear a loss? 421 00:27:02,320 --> 00:27:03,960 No. Sir, we can sell it at a reduced price. 422 00:27:04,040 --> 00:27:06,680 We are in discussion with numerous manufacturers. 423 00:27:06,800 --> 00:27:08,400 Manufacturers spend 424 00:27:08,480 --> 00:27:11,440 around 20% to 25% on the packaging of medicines. 425 00:27:11,520 --> 00:27:15,800 After reaching a level, we'd buy medicines from them in canisters. 426 00:27:15,880 --> 00:27:17,760 It'd help extend our margin. 427 00:27:17,840 --> 00:27:20,040 - Correct! - Around 15% to 20%. 428 00:27:20,120 --> 00:27:22,280 Our margin will increase to become 48%. 429 00:27:22,360 --> 00:27:23,720 - In that case... - It's a long shot. 430 00:27:23,800 --> 00:27:27,960 They also need to do investment in CAPEX to change their packaging. 431 00:27:28,040 --> 00:27:30,160 They already export them in drums. 432 00:27:30,280 --> 00:27:32,280 Are the manufacturers ready to give medicines? 433 00:27:32,360 --> 00:27:35,040 - Yes, sir. - Some manufacturers are ready to invest 434 00:27:35,120 --> 00:27:36,560 and they want 435 00:27:36,640 --> 00:27:39,160 to join our model at a bigger level. 436 00:27:40,720 --> 00:27:44,080 I'm interested in your round and your company too. 437 00:27:44,160 --> 00:27:45,320 I have a few questions. 438 00:27:45,400 --> 00:27:47,720 Firstly, what is your customer acquisition cost? 439 00:27:47,840 --> 00:27:48,800 [suspenseful music] 440 00:27:48,880 --> 00:27:50,880 It's around Rs. 870 to Rs. 900. 441 00:27:58,640 --> 00:28:00,640 - Correct! - What's your retention till now? 442 00:28:00,720 --> 00:28:01,640 91%. 443 00:28:06,440 --> 00:28:07,480 Sir, more than 5,000 customers. 444 00:28:07,560 --> 00:28:09,560 Alright. Retention means 445 00:28:09,640 --> 00:28:11,520 the customers who bought from you five months ago 446 00:28:11,600 --> 00:28:13,600 are still your customers. The subscription is still continuing. 447 00:28:13,680 --> 00:28:15,960 How much time do you need to recover Rs. 900? 448 00:28:17,120 --> 00:28:18,640 We can recover Rs. 800 to Rs. 900 449 00:28:18,720 --> 00:28:20,880 in five orders easily. 450 00:28:21,000 --> 00:28:24,640 Five! Do you have an estimate of the lifetime value of the customer? 451 00:28:24,720 --> 00:28:27,120 Any patient will be associated with us 452 00:28:27,240 --> 00:28:28,840 for 4 to 5 years at least. 453 00:28:28,920 --> 00:28:31,400 - Unless the medicine... - Let's assume it to be three years. 454 00:28:31,480 --> 00:28:33,480 What will be the customer's average value for three years? 455 00:28:33,600 --> 00:28:34,400 Rs. 42,000. 456 00:28:34,520 --> 00:28:36,440 Rs. 42,000. So that's not a problem. 457 00:28:36,520 --> 00:28:37,880 Sorry! What are your sales figures? 458 00:28:37,960 --> 00:28:40,960 We launched it for the common people just four months ago. 459 00:28:54,480 --> 00:28:56,400 Did you lock in the machine's supply? 460 00:28:56,480 --> 00:28:58,880 Yes. We signed three years exclusivity deal. 461 00:28:58,960 --> 00:29:01,120 Do you pay rent for the machine or is it free? 462 00:29:01,200 --> 00:29:03,880 We pay a nominal rent per month. 463 00:29:03,960 --> 00:29:06,160 It's good. These are expensive machines. 464 00:29:06,960 --> 00:29:10,600 You gave 51% equity to ACG Pam Pac. 465 00:29:10,680 --> 00:29:12,520 When financial investor enters the scene, 466 00:29:12,720 --> 00:29:16,120 they won't understand how to earn money. Is it true? 467 00:29:16,200 --> 00:29:18,200 [tense music] 468 00:29:18,280 --> 00:29:20,800 No. Actually, we are generating a lot of interest. 469 00:29:20,880 --> 00:29:22,920 We already have a solid term sheet with us. 470 00:29:23,000 --> 00:29:23,960 What are the details? 471 00:29:24,080 --> 00:29:25,720 We can't reveal their name 472 00:29:25,800 --> 00:29:28,120 but we bagged a term sheet 473 00:29:28,200 --> 00:29:29,800 from India's largest e-commerce player. 474 00:29:29,880 --> 00:29:31,440 But it's strategic, right? 475 00:29:31,520 --> 00:29:33,440 [sweeping music] 476 00:29:33,520 --> 00:29:36,560 Sir, it's a strategic offer but we are raising a round 477 00:29:36,640 --> 00:29:37,920 in which more VCs will participate. 478 00:29:38,000 --> 00:29:39,640 What is the valuation of the round? 479 00:29:39,720 --> 00:29:40,880 Rs. 45 crores. 480 00:29:47,000 --> 00:29:49,560 So what do you want from us? 481 00:29:49,640 --> 00:29:52,600 Sir, our ask 482 00:29:52,680 --> 00:29:55,960 is Rs. 1 crore for 1.5% equity 483 00:29:56,040 --> 00:29:59,560 and use your D2C expertise 484 00:29:59,640 --> 00:30:01,920 and marketing mechanisms 485 00:30:02,000 --> 00:30:04,480 to make it accessible 486 00:30:04,560 --> 00:30:06,480 to the common people. 487 00:30:06,560 --> 00:30:08,600 Your brands have already done that 488 00:30:08,720 --> 00:30:11,880 and we want to learn these from you and implement them too. 489 00:30:12,280 --> 00:30:16,120 I'll give you an offer but you must make a decision quickly. 490 00:30:18,800 --> 00:30:20,760 - Do you want Rs. 1 crore? - Yes, sir. 491 00:30:31,480 --> 00:30:34,600 Sir, can we hear the offers of all the Sharks? 492 00:30:34,680 --> 00:30:35,960 - Yes. - If you give us permission. 493 00:30:36,040 --> 00:30:37,760 You are a good boy! 494 00:30:37,840 --> 00:30:39,280 Anupam, what offer did you give? 495 00:30:39,840 --> 00:30:41,400 I offered them what they wanted. 496 00:30:41,480 --> 00:30:43,760 Let's give a combined offer instead of fighting with others. 497 00:30:43,840 --> 00:30:46,720 - Our percentage will reduce. - We'll increase the amount. 498 00:30:46,800 --> 00:30:49,280 - Okay. - Rs. 2 crores for 5% equity. 499 00:30:50,880 --> 00:30:52,280 Anupam, let's make a five-Shark deal. 500 00:30:52,360 --> 00:30:54,280 [suspenseful music] 501 00:30:59,000 --> 00:31:00,320 Let's discuss this. 502 00:31:00,400 --> 00:31:01,760 We have an offer. 503 00:31:02,880 --> 00:31:05,240 We'll give you Rs. 2 crores instead of Rs. 1 crore as we need 504 00:31:13,960 --> 00:31:16,360 1% equity to each. We'll give Rs. 2 crores instead of Rs. 1 crore. 505 00:31:16,440 --> 00:31:19,680 [suspenseful music] 506 00:31:19,760 --> 00:31:23,320 Rs. 2 crores for 5% means it's Rs. 5 crores less than the base value. 507 00:31:23,440 --> 00:31:26,040 Boss, all five Sharks want to invest. 508 00:31:29,160 --> 00:31:32,040 [suspenseful music] 509 00:31:32,160 --> 00:31:33,280 What's your decision? 510 00:31:33,400 --> 00:31:35,160 Sir, we have a counteroffer. 511 00:31:46,640 --> 00:31:49,280 The one who closed the five-Shark deal in the last season 512 00:31:49,360 --> 00:31:52,360 - is going places. - They are off the charts. 513 00:31:52,440 --> 00:31:54,760 [dramatic music] 514 00:31:57,440 --> 00:32:00,760 ACG Pam Pac is one of our biggest suppliers. Okay? 515 00:32:00,880 --> 00:32:03,320 For packaging machines. So you can imagine that we have been 516 00:32:03,440 --> 00:32:05,920 doing integration for the last 12 years. 517 00:32:06,040 --> 00:32:09,320 Anupam can open the door to investors and help you put 518 00:32:09,400 --> 00:32:11,200 the deal together by helping you deal with strategic investors. 519 00:32:11,320 --> 00:32:13,040 [sweeping music] 520 00:32:14,240 --> 00:32:17,280 How you give discounts on medicines 521 00:32:17,400 --> 00:32:19,400 will play a key factor. 522 00:32:19,480 --> 00:32:22,720 Please be quick! Finish it off! 523 00:32:22,840 --> 00:32:25,520 [dramatic music] 524 00:32:26,760 --> 00:32:28,200 Let's do a deal. 525 00:32:28,480 --> 00:32:30,280 - Deal done! - Deal done! Thank you! 526 00:32:30,360 --> 00:32:32,000 - Alright! - Woo-hoo! 527 00:32:32,120 --> 00:32:34,200 - Five-Shark deal! - Boss, it's real work. 528 00:32:43,240 --> 00:32:46,720 - It's my favourite as the hardware and software... - Thank you so much. 529 00:32:46,840 --> 00:32:47,800 Thank you so much, sir! 530 00:32:47,880 --> 00:32:50,080 You have me and the other four are free. 531 00:32:50,160 --> 00:32:52,840 [laughing] 532 00:33:35,600 --> 00:33:38,400 [theme music plays] 533 00:33:55,880 --> 00:33:58,240 [theme music fades] 534 00:33:58,360 --> 00:34:00,440 Sharks, this is the era 535 00:34:00,560 --> 00:34:03,200 of specialised restaurants and cloud kitchens. 536 00:34:04,480 --> 00:34:08,680 One for burgers, one for momos and other chains that sell pizzas. 537 00:34:08,680 --> 00:34:11,800 This leads to kitchens being unproductive. 538 00:34:12,880 --> 00:34:15,160 Don't ask about cravings! 539 00:34:15,240 --> 00:34:16,880 They change with every passing hour. 540 00:34:18,400 --> 00:34:21,760 That's why every restaurant has a variety of dishes on its menu. 541 00:34:22,640 --> 00:34:26,240 Owing to that, there's a surplus of food at the end of the day. 542 00:34:27,840 --> 00:34:31,480 We thought of killing two birds with one stone. 543 00:34:32,520 --> 00:34:35,720 That gave rise to a cloud kitchen brand 544 00:34:35,960 --> 00:34:40,080 that prevents wastage of food as well as fulfils your cravings. 545 00:34:41,240 --> 00:34:43,680 Greetings, Sharks. I am Subhabrata Ganguly. 546 00:34:49,800 --> 00:34:53,240 Crave Raja Foods is a Kolkata-based cloud kitchen chain 547 00:34:59,600 --> 00:35:01,080 and stuffed omelettes for breakfast? 548 00:35:07,520 --> 00:35:10,920 What if I crave a nutritious protein meal in the afternoon? 549 00:35:17,880 --> 00:35:19,480 What do we eat after the party? 550 00:35:44,000 --> 00:35:45,520 So that wastage is minimum 551 00:35:45,600 --> 00:35:47,400 and customer satisfaction is maximum. 552 00:35:47,440 --> 00:35:48,440 Very interesting. 553 00:35:49,360 --> 00:35:53,400 A restaurant loses 5 to 6% due to wastage. 554 00:35:53,520 --> 00:35:55,800 Whereas our wastage is merely 1 to 2%. 555 00:35:59,600 --> 00:36:02,880 We want to be India's largest crave-worthy food services 556 00:36:02,960 --> 00:36:04,440 cloud kitchen brand. 557 00:36:05,680 --> 00:36:09,040 We want to set up 6 to 7 cloud kitchens in the next one year 558 00:36:09,120 --> 00:36:11,000 with multiple brands in each of them. 559 00:36:20,080 --> 00:36:24,080 - Sharks, should we order something for you quickly? - Yes, please. 560 00:36:24,160 --> 00:36:25,040 Delivery! 561 00:36:28,160 --> 00:36:30,640 Aman gets fried chicken. 562 00:36:30,760 --> 00:36:31,880 We've given Anupam... 563 00:36:31,880 --> 00:36:35,080 - Nawabi Chicken Tikka Burrito without cheese. - Yes. 564 00:36:35,160 --> 00:36:38,200 We've given Amit corn-cheese mushroom sandwich. 565 00:36:38,520 --> 00:36:41,000 Namita has been given a half and half pizza. 566 00:36:41,080 --> 00:36:42,680 One half is Fungi Forest 567 00:36:42,800 --> 00:36:44,840 and the other half is Farm Fresh Deluxe. 568 00:36:44,920 --> 00:36:47,280 Peyush, you, too, have received the half and half pizza. 569 00:36:47,360 --> 00:36:50,800 One half is Paneer Tikka and the other half is Corn and Mushroom. 570 00:36:50,880 --> 00:36:53,080 [uplifting music playing] 571 00:36:55,360 --> 00:36:57,640 I really like the taste of your Corn and Mushroom Sandwich. 572 00:36:57,680 --> 00:36:59,200 - The taste is nice. - Very nice. 573 00:36:59,680 --> 00:37:00,880 - Thank you. - Thank you. 574 00:37:01,000 --> 00:37:02,840 - The pizza is good. - Very good. 575 00:37:03,400 --> 00:37:04,400 Thank you. 576 00:37:04,480 --> 00:37:07,760 Tell me something. Kolkata is a very interesting city. 577 00:37:07,800 --> 00:37:11,840 - Were you born and brought up there and hail from there or... - No. 578 00:37:12,080 --> 00:37:14,880 - I hail from a small city called Bardhaman... - Okay. 579 00:37:15,120 --> 00:37:17,920 Which is 120 km from Kolkata. 580 00:37:18,920 --> 00:37:21,920 I completed my twelfth in 2012. 581 00:37:22,040 --> 00:37:25,640 Then I went to St. Xavier's College in Kolkata to pursue Math Honours. 582 00:37:25,760 --> 00:37:26,800 Nice. 583 00:37:27,240 --> 00:37:29,080 But I didn't fare well. 584 00:37:29,240 --> 00:37:30,360 [chuckles] 585 00:37:30,920 --> 00:37:34,800 So, I gave the entrance test for Economics at Presidency University. 586 00:37:34,880 --> 00:37:36,360 - I got through. - Wow! 587 00:37:36,560 --> 00:37:38,080 He also got through. 588 00:37:38,120 --> 00:37:39,480 We both went to the same college. 589 00:37:39,560 --> 00:37:42,080 He must have spoken to me thrice in three years 590 00:37:42,200 --> 00:37:43,440 as he was the topper kind. 591 00:37:43,520 --> 00:37:45,920 - Topper kind! - Yes. 592 00:37:46,000 --> 00:37:48,880 We started bonding during our masters. 593 00:37:49,880 --> 00:37:52,680 We both got a placement in the same company. 594 00:37:52,800 --> 00:37:54,280 - In Bengaluru. - Bengaluru. 595 00:37:55,760 --> 00:37:58,000 That is where we first saw 596 00:37:58,000 --> 00:38:01,280 how a start-up founder behaves. 597 00:38:01,280 --> 00:38:05,560 Their interaction was like a close-knit family. 598 00:38:06,480 --> 00:38:08,640 - You were inspired by your founder. - Yes. 599 00:38:08,760 --> 00:38:11,840 We thought the hierarchy in the office 600 00:38:12,000 --> 00:38:14,040 we would join would be very strict. 601 00:38:14,760 --> 00:38:16,960 But over there, we realised 602 00:38:17,040 --> 00:38:19,880 that founders, too, can be extremely chilled out. 603 00:38:20,680 --> 00:38:23,240 I told him we should do something. 604 00:38:23,360 --> 00:38:25,000 Let's take something back from Bengaluru. 605 00:38:25,080 --> 00:38:27,080 We were looking for sectors. 606 00:38:27,200 --> 00:38:30,120 We used to order from a place called BOX8. 607 00:38:30,200 --> 00:38:31,280 - Yes. - Yes, BOX8. 608 00:38:31,360 --> 00:38:34,320 During office hours, I opened up a new tab and began searching 609 00:38:34,360 --> 00:38:36,120 who the founder of BOX8 was 610 00:38:36,280 --> 00:38:38,120 and how many orders they fulfilled. 611 00:38:38,440 --> 00:38:42,800 I was startled to see a figure of 1 million orders. 612 00:38:42,920 --> 00:38:45,040 - Which meant the market was huge! - Yes. 613 00:38:45,400 --> 00:38:49,280 And the market in Kolkata had still not been explored. 614 00:38:49,320 --> 00:38:50,240 Interesting. 615 00:38:50,320 --> 00:38:52,320 Call it host kitchen or cloud kitchen, 616 00:38:52,400 --> 00:38:54,800 - it wasn't so relevant. - Hmm. 617 00:38:54,920 --> 00:38:56,680 Then we made a plan. 618 00:38:57,560 --> 00:38:59,680 I told him I'll go to Kolkata and you come after a while. 619 00:38:59,760 --> 00:39:04,320 I took a small place on rent and a job in Kolkata and went there. 620 00:39:05,680 --> 00:39:09,720 We started off with four staff 621 00:39:09,840 --> 00:39:12,320 and a kitchen. 622 00:39:14,440 --> 00:39:16,440 When did you both quit your jobs? 623 00:39:16,560 --> 00:39:18,560 I put down my papers last month. 624 00:39:19,720 --> 00:39:21,000 You resigned now! 625 00:39:21,080 --> 00:39:23,360 The company is bootstrapped till date. 626 00:39:23,440 --> 00:39:26,200 The salaries we receive are pumped into the business. 627 00:39:26,280 --> 00:39:28,080 You work for a Kolkata company. 628 00:39:28,160 --> 00:39:30,480 - We work in the same company. - Same company. 629 00:39:30,640 --> 00:39:32,680 Have you quit your job or not? 630 00:39:32,680 --> 00:39:34,280 I have not resigned from my job yet 631 00:39:34,480 --> 00:39:38,280 because I have a lot of crowdfunding to repay first. 632 00:39:39,320 --> 00:39:41,120 Do you go to office or work from home? 633 00:39:41,200 --> 00:39:42,080 No, I work from home. 634 00:39:42,160 --> 00:39:44,640 So, you work for Crave Raja 635 00:39:44,680 --> 00:39:46,480 - and draw a salary from that company. - Exactly. 636 00:39:46,520 --> 00:39:49,880 I will announce work from office in my company starting tomorrow. 637 00:39:50,280 --> 00:39:51,960 There you go. I've been saying it all along. 638 00:39:52,040 --> 00:39:55,200 Hang on. You're saying all this on national TV. 639 00:39:55,320 --> 00:39:56,760 - Yes. - They'll fire you. 640 00:39:56,880 --> 00:39:58,920 No. When we started working, 641 00:39:58,960 --> 00:40:01,080 we ensured the compliance bit was taken care of. 642 00:40:01,600 --> 00:40:03,360 Do you get the time to do both? 643 00:40:03,440 --> 00:40:06,760 - For the last 2 years, we've worked for 16 to 17 hours. - A day. 644 00:40:08,560 --> 00:40:11,920 As of now, where does the business stand? What are your sales? 645 00:40:12,000 --> 00:40:15,600 Since inception, that is September 2020 until yesterday, 646 00:40:15,640 --> 00:40:17,680 we have clocked Rs. 4.1 crores of revenue. 647 00:40:21,880 --> 00:40:24,080 Last month, we clocked Rs. 19.5 lakhs. 648 00:40:35,080 --> 00:40:36,720 Net profit was 3.5%. 649 00:40:42,880 --> 00:40:44,520 we kept our prices very low. 650 00:40:44,600 --> 00:40:47,320 Secondly, Swiggy and Zomato are extremely competitive marketplaces. 651 00:40:47,400 --> 00:40:51,000 New market players are compelled to give higher discounts. 652 00:40:51,720 --> 00:40:53,920 - Your revenue last month was Rs. 20 lakhs. - Hmm. 653 00:40:54,040 --> 00:40:56,560 Could you also cite your expenses for us, please? 654 00:40:56,640 --> 00:40:59,920 Basically, the revenue of Rs. 20 lakhs or 19.5 lakhs, 655 00:41:00,000 --> 00:41:01,360 is post discount. 656 00:41:22,520 --> 00:41:23,920 - When business expands... - Exactly. 657 00:41:24,000 --> 00:41:26,160 - Exactly. It will decrease. - That will go down. 658 00:41:28,280 --> 00:41:32,200 You know, from your perspective, when you use the same ingredients, 659 00:41:32,280 --> 00:41:34,080 of course, there are benefits. 660 00:41:34,200 --> 00:41:37,360 But from a customer's perspective, how are your products different? 661 00:41:37,680 --> 00:41:39,320 Okay, we change the menu. 662 00:41:39,600 --> 00:41:41,560 We had a pizza called Hariyali Tikka Pizza. 663 00:41:41,640 --> 00:41:44,600 It sold like hotcakes and then the sales slacked. 664 00:41:44,720 --> 00:41:46,720 We took it off the menu and replaced it with Malai Tikka. 665 00:41:46,720 --> 00:41:47,960 And that gained demand. 666 00:41:48,760 --> 00:41:50,800 We used to experiment on a regular basis. 667 00:41:50,960 --> 00:41:52,880 Domino's Pizza is the biggest player. 668 00:41:53,600 --> 00:41:56,200 They had an inherent problem which a customer called us about. 669 00:41:56,280 --> 00:41:59,680 They wanted a large pizza 670 00:41:59,920 --> 00:42:01,920 and they couldn't get cheese burst anywhere. 671 00:42:02,640 --> 00:42:04,760 If you check Domino's menu, 672 00:42:04,840 --> 00:42:07,600 - you won't get cheese burst in a large sized-pizza. - Medium. 673 00:42:07,680 --> 00:42:09,960 - Correct, it's medium. - Exactly. 674 00:42:10,640 --> 00:42:12,960 In large pizzas, our cheese burst 675 00:42:13,160 --> 00:42:14,840 - was... - Cheese burst was very popular. 676 00:42:14,920 --> 00:42:16,560 That raised our ticket value. 677 00:42:19,720 --> 00:42:22,120 Tell us the price of all four brands. 678 00:42:46,640 --> 00:42:50,200 - We have 10,000 reviews on Zomato as of now. - Wow! 679 00:42:50,320 --> 00:42:52,720 - What's your rating? - Our average rating is 4 on Zomato. 680 00:42:56,200 --> 00:42:57,960 - Yes. - This is what we want to do all our lives. 681 00:42:58,040 --> 00:42:59,120 When will you do it full-time? 682 00:42:59,200 --> 00:43:00,920 [tense music playing] 683 00:43:01,200 --> 00:43:02,120 Erm... 684 00:43:04,880 --> 00:43:06,000 That's why they're here 685 00:43:06,080 --> 00:43:07,720 - to take the money and raise funds... - Yes. 686 00:43:07,760 --> 00:43:09,160 - So that they can work. Right? - Exactly. 687 00:43:09,160 --> 00:43:12,200 - You'll quit your job if you get this funding, right? - Right away. 688 00:43:12,280 --> 00:43:13,200 I am out. 689 00:43:14,840 --> 00:43:17,280 I have two reasons. First, you're not all in. 690 00:43:21,960 --> 00:43:23,600 You're far from doing it right now. 691 00:43:24,680 --> 00:43:28,240 Second, you asked for a valuation of Rs. 20 crores straightaway. 692 00:43:28,440 --> 00:43:31,160 I think that's very high, so there's no way I can negotiate. 693 00:43:31,240 --> 00:43:32,160 So, I am out. 694 00:43:33,360 --> 00:43:36,160 I think the team is great and your numbers are fantastic. 695 00:43:45,760 --> 00:43:48,280 If we're present in two to three metro cities, 696 00:43:48,360 --> 00:43:51,160 we can look at a projected revenue of at least Rs. 15 to 20 crores. 697 00:43:51,960 --> 00:43:55,240 - You can bring more revenue through geographical expansion. - Correct. 698 00:43:55,320 --> 00:43:57,280 Not through vertical depth in the city. 699 00:43:57,480 --> 00:43:58,360 That's also doable. 700 00:43:58,400 --> 00:43:59,600 What's your strategy? 701 00:43:59,600 --> 00:44:01,440 We have 3 kitchens in Kolkata as of now. 702 00:44:01,520 --> 00:44:04,360 They cover almost 70 to 80% share right now. 703 00:44:04,880 --> 00:44:08,040 By setting up just one more kitchen, we can cover the entire city. 704 00:44:08,120 --> 00:44:10,000 It wouldn't make sense for us 705 00:44:10,080 --> 00:44:12,360 to set up another 5 kitchens within Kolkata itself. 706 00:44:12,480 --> 00:44:15,120 So, it's important that we look at increasing our revenue 707 00:44:15,200 --> 00:44:16,800 through geographical diversification. 708 00:44:21,400 --> 00:44:23,160 [intense music playing] 709 00:44:23,240 --> 00:44:27,680 I didn't find a differentiator as such in your products. 710 00:44:28,960 --> 00:44:30,520 And for that reason, I am out. 711 00:44:39,440 --> 00:44:42,480 Which is the biggest cloud kitchen brand in India? 712 00:44:42,560 --> 00:44:43,440 Edible foods. 713 00:44:43,560 --> 00:44:44,640 That's wrong. 714 00:44:44,760 --> 00:44:48,240 Domino's is the largest cloud kitchen brand in India. 715 00:44:48,440 --> 00:44:50,280 And you know, they don't burn money. 716 00:44:50,400 --> 00:44:52,200 Do you have any idea how much money they make? 717 00:44:53,480 --> 00:44:55,160 You have no idea 718 00:44:55,240 --> 00:44:56,600 and yet you entered into this business. 719 00:44:56,720 --> 00:44:59,120 You know nothing about the king of this business. 720 00:45:00,000 --> 00:45:03,360 Their sales are over Rs. 2000 to 2500 crores. 721 00:45:03,560 --> 00:45:06,080 They make a profit of about Rs. 1000 crores. 722 00:45:07,840 --> 00:45:11,120 The other players are making losses for the simple reason 723 00:45:11,440 --> 00:45:14,200 that they don't have market pull. 724 00:45:15,120 --> 00:45:16,360 Domino's sells for its popularity. 725 00:45:16,480 --> 00:45:18,000 Because of the power of the brand! 726 00:45:18,080 --> 00:45:19,560 [intense music playing] 727 00:45:19,640 --> 00:45:21,440 You're sinking into the same quagmire 728 00:45:21,600 --> 00:45:23,720 as the earlier counterparts. 729 00:45:23,800 --> 00:45:25,600 The only difference being you have no money. 730 00:45:25,800 --> 00:45:27,200 You're in a much worse position. 731 00:45:29,200 --> 00:45:30,680 If you really want to do this, 732 00:45:30,800 --> 00:45:34,920 establish one or two brands with a strong customer pull. 733 00:45:36,000 --> 00:45:38,520 Until that time, this is not a business. 734 00:45:39,680 --> 00:45:42,200 For that reason, I am out. All the best. 735 00:45:42,920 --> 00:45:44,120 I'm the only Shark left. 736 00:45:44,200 --> 00:45:46,480 Cloud kitchen is a globally proven business. 737 00:46:15,720 --> 00:46:18,960 I am out for that reason, but I really enjoyed your pitch. 738 00:46:19,080 --> 00:46:20,800 [intense music playing] 739 00:46:20,840 --> 00:46:22,280 I thought I would invest, 740 00:46:22,320 --> 00:46:25,560 but I start to lose interest if there's no objectivity. 741 00:46:26,720 --> 00:46:28,800 I am out but I wish you all the best. 742 00:46:28,840 --> 00:46:29,720 Thank you. 743 00:46:30,440 --> 00:46:31,400 Thank you. 744 00:46:31,440 --> 00:46:32,800 - Thank you, guys. - Thank you so much. 745 00:46:32,920 --> 00:46:34,200 - All the best. See you. - Thank you. 746 00:46:34,280 --> 00:46:35,640 - Thank you. - Thank you. 747 00:46:38,280 --> 00:46:41,040 [theme music plays] 748 00:46:53,080 --> 00:46:56,080 [theme music fades] 749 00:46:57,400 --> 00:46:59,120 - Greetings, Sharks. - Greetings. 750 00:46:59,240 --> 00:47:01,160 A lot of people around the world 751 00:47:01,400 --> 00:47:02,520 experience the same boring 752 00:47:02,640 --> 00:47:06,320 night routine when they come to their rooms. 753 00:47:06,440 --> 00:47:08,000 There's nothing new. 754 00:47:08,200 --> 00:47:11,080 No excitement, no spice and no fun. 755 00:47:11,480 --> 00:47:12,400 What do you do? 756 00:47:13,320 --> 00:47:14,320 And more importantly how? 757 00:47:15,840 --> 00:47:18,120 The solution lies in the smell. 758 00:47:19,360 --> 00:47:20,880 Smell is a sense 759 00:47:21,320 --> 00:47:23,440 that can put a person in a good mood instantly. 760 00:47:23,720 --> 00:47:27,000 I'm sure you must have heard about regular incense sticks. 761 00:47:28,280 --> 00:47:31,000 But do you know about night incense sticks? 762 00:47:31,320 --> 00:47:33,120 - I doubt that you do. - We don't. 763 00:47:33,160 --> 00:47:34,680 Now, everyone will know. 764 00:47:39,240 --> 00:47:41,480 And my company is called V A Perfume Products. 765 00:47:41,560 --> 00:47:43,760 [peppy music plays] 766 00:47:43,880 --> 00:47:47,080 At V A Perfume Products, we made a revolutionary product 767 00:47:47,160 --> 00:47:48,800 which is a night incense stick. 768 00:47:48,880 --> 00:47:50,600 It leaves the room so fragrant 769 00:47:50,720 --> 00:47:52,600 and automatically puts you in a romantic mood. 770 00:47:52,720 --> 00:47:54,600 [peppy music plays] 771 00:47:54,680 --> 00:47:56,760 Sharks, keeping you in mind, 772 00:47:56,840 --> 00:47:58,880 we have quite some fragrances. 773 00:48:06,560 --> 00:48:08,680 The one in dire need of extreme fun! 774 00:48:09,200 --> 00:48:10,920 "Please kill me!" 775 00:48:11,320 --> 00:48:14,040 Sharks, other than night incense sticks, 776 00:48:14,120 --> 00:48:17,440 - we also manufacture a huge range of devotional incense sticks. - Yes. 777 00:48:32,440 --> 00:48:34,000 If you help us, 778 00:48:34,120 --> 00:48:37,720 we can make our incense sticks a household name. 779 00:48:37,800 --> 00:48:39,320 [comical music playing] 780 00:48:39,400 --> 00:48:41,360 This product has spunk! 781 00:48:41,400 --> 00:48:43,840 [Sharks laugh] 782 00:48:53,480 --> 00:48:55,280 - Gosh! - [laughs] 783 00:48:57,320 --> 00:48:59,600 I am curious to know 784 00:49:00,000 --> 00:49:02,120 how you have... 785 00:49:02,200 --> 00:49:05,600 - You seem to be a man with quite a lot of experience. - Yes. 786 00:49:05,720 --> 00:49:08,080 How did it occur to you 787 00:49:08,200 --> 00:49:10,920 to manufacture incense sticks that set the room on fire? 788 00:49:11,000 --> 00:49:12,600 Not in the literal sense. 789 00:49:13,480 --> 00:49:15,760 - I'm talking about desire if you catch my drift. - Yes, sir. 790 00:49:15,800 --> 00:49:17,600 What happened? Did tragedy strike? 791 00:49:17,680 --> 00:49:19,240 Did you have the need for it? Tell us. 792 00:49:19,640 --> 00:49:22,040 - Tragedy! - [Sharks laugh hysterically] 793 00:49:22,160 --> 00:49:25,600 - It'd be best if you didn't tell us about the tragedy. - No... 794 00:49:25,720 --> 00:49:28,040 It's alright. I can talk about it. 795 00:49:28,120 --> 00:49:31,160 Amit, please don't listen to them. Tell us everything. 796 00:49:31,240 --> 00:49:33,240 [Sharks laugh] 797 00:49:36,120 --> 00:49:39,880 - Sir, I was in the rice industry for 15 years. - Okay. 798 00:49:40,040 --> 00:49:44,080 - My plant was export-oriented. - Okay. 799 00:49:44,160 --> 00:49:47,040 My goods were mostly exported to Nigeria in West Africa. 800 00:49:47,120 --> 00:49:48,880 So, I exported to Nigeria. 801 00:49:48,960 --> 00:49:53,640 Plus, they already used to make night incense sticks there. 802 00:49:53,720 --> 00:49:55,440 They made good sales. 803 00:49:55,520 --> 00:49:57,680 - In Nigeria? - Yes, that's right. 804 00:49:57,840 --> 00:50:01,000 So, I had a meeting with them. 805 00:50:01,200 --> 00:50:04,280 They weren't interested in India 806 00:50:04,360 --> 00:50:06,800 so they shared the ingredients with me. 807 00:50:06,920 --> 00:50:09,080 I ordered some perfumes from Indonesia. 808 00:50:09,160 --> 00:50:10,920 I liked the concept. 809 00:50:11,000 --> 00:50:13,080 Such a concept was unheard of 810 00:50:13,160 --> 00:50:15,280 so I adopted it 811 00:50:15,360 --> 00:50:17,400 and forged ahead. 812 00:50:17,480 --> 00:50:19,200 Are you doing the rice business too? 813 00:50:19,280 --> 00:50:23,040 No, sir. Actually, due to a ban on export, 814 00:50:23,120 --> 00:50:26,280 - I wound it up in 2018. - Okay. 815 00:50:26,360 --> 00:50:27,560 - I got it. - How is this business faring? 816 00:50:27,640 --> 00:50:30,320 Sir, I started it seven months ago 817 00:50:30,560 --> 00:50:32,520 and it's going great for now. 818 00:50:32,600 --> 00:50:34,720 How much money did you invest in this business? 819 00:50:50,920 --> 00:50:53,720 Yes, of course. Sir, actually, I get good margins in this business. 820 00:50:53,800 --> 00:50:56,280 I had just a 2% margin in the rice industry. 821 00:50:56,360 --> 00:50:57,160 What's the margin in this business? 822 00:50:57,280 --> 00:50:59,840 Sir, my gross margin 823 00:50:59,920 --> 00:51:02,560 - is around 56%. - Wow! 824 00:51:19,600 --> 00:51:21,720 So you have set up a factory to make these. 825 00:51:21,800 --> 00:51:24,880 Yes, I have a factory. Also, I get it outsourced. 826 00:51:25,120 --> 00:51:27,920 The smell is quite strong. 827 00:51:29,120 --> 00:51:30,280 Are you getting a sensation? 828 00:51:30,400 --> 00:51:32,160 [chuckling] Aman! 829 00:51:32,240 --> 00:51:34,120 I'm not getting a sensation. 830 00:51:37,200 --> 00:51:40,160 Have you done testing? How did you find out 831 00:51:40,360 --> 00:51:42,120 that it helps increase power? 832 00:51:42,200 --> 00:51:44,000 - Sir, it's true. - How? 833 00:51:44,080 --> 00:51:45,520 He's getting excited. 834 00:51:45,640 --> 00:51:47,200 [chuckling] 835 00:51:47,280 --> 00:51:48,320 Sir, it's tested. 836 00:51:48,400 --> 00:51:49,320 - How? - How? 837 00:51:49,440 --> 00:51:52,720 Sir, how can one explain it? 838 00:51:52,840 --> 00:51:55,400 Sir, once it's lit, it creates an ambience in the room. 839 00:51:55,480 --> 00:51:57,480 Look! Hold on! 840 00:51:57,560 --> 00:52:00,760 - Hold on! You burned four incense sticks over there. - Yes. 841 00:52:00,840 --> 00:52:02,120 And he's smelling them all alone. 842 00:52:02,920 --> 00:52:04,760 Now please get his feedback. 843 00:52:04,840 --> 00:52:07,520 Thankfully, he didn't ask for customer testimonial videos. 844 00:52:08,720 --> 00:52:12,960 - Sir, it should be burned inside a room at least. - Who? 845 00:52:13,040 --> 00:52:17,160 It won't be effective if you burn it in a stadium. 846 00:52:17,960 --> 00:52:19,280 Sir, that's absurd. 847 00:52:22,200 --> 00:52:23,680 Can we see your product? 848 00:52:23,800 --> 00:52:25,360 Yes, sir. I'll show it to you. 849 00:52:27,520 --> 00:52:30,400 Sir, they are going to be launched soon. 850 00:52:30,520 --> 00:52:31,920 They have a strong smell. 851 00:52:32,840 --> 00:52:34,880 Sir, a strong smell is effective. 852 00:52:34,960 --> 00:52:36,120 [chuckling] 853 00:52:36,200 --> 00:52:37,800 You are right. 854 00:52:38,240 --> 00:52:40,400 [ethereal music] 855 00:52:42,360 --> 00:52:43,920 There's a light inside the incense stick box. 856 00:52:44,000 --> 00:52:47,600 Is it packed like this for us? Or for the public too? 857 00:52:47,680 --> 00:52:48,760 Mine looks like this. 858 00:52:48,880 --> 00:52:50,000 He likes you more. 859 00:52:50,080 --> 00:52:51,280 It seems so. 860 00:52:52,840 --> 00:52:55,080 Can we extinguish it? Can we? 861 00:52:55,160 --> 00:52:56,240 Yes, sir. 862 00:52:57,720 --> 00:53:00,920 - I have a question regarding your business. - Sure. 863 00:53:01,040 --> 00:53:04,600 - You sell incense sticks for meditation. - Yes. 864 00:53:04,680 --> 00:53:07,800 You sell them for prayer and mood too. 865 00:53:07,880 --> 00:53:10,040 Do you sell all varieties? 866 00:53:10,320 --> 00:53:12,760 Ma'am, my sales for devotional incense sticks 867 00:53:12,840 --> 00:53:15,960 - are good. - How much is it? 868 00:53:16,040 --> 00:53:17,640 70% of sales are of those. 869 00:53:17,720 --> 00:53:20,160 And these items comprise 30%. 870 00:53:20,240 --> 00:53:23,960 I want to increase the sale of Night Agarbattis 871 00:53:24,080 --> 00:53:25,800 up to 90% 872 00:53:25,880 --> 00:53:27,640 because the margin is sizeable. 873 00:53:27,720 --> 00:53:30,600 Do you have a special formula to make these? 874 00:53:30,720 --> 00:53:33,120 Yes, sir. We have some specific ingredients. 875 00:53:33,200 --> 00:53:36,080 We make ordinary incense sticks 876 00:53:36,160 --> 00:53:38,040 and add some extra ingredients to them 877 00:53:38,120 --> 00:53:41,400 - to make them unique. - What ingredients do you mix? 878 00:53:41,480 --> 00:53:43,120 We use basic ingredients, 879 00:53:43,200 --> 00:53:45,880 certain perfumes 880 00:53:46,000 --> 00:53:49,320 plus a few items that I can't reveal. 881 00:53:49,440 --> 00:53:50,800 How do those items affect it? 882 00:53:50,920 --> 00:53:54,520 Sir, they help set up the mood. 883 00:53:54,760 --> 00:53:56,760 It creates an effect. 884 00:53:58,560 --> 00:54:00,760 I made my decision. 885 00:54:01,160 --> 00:54:04,280 I fail to connect to your product 886 00:54:04,360 --> 00:54:07,520 nor relate to it. 887 00:54:07,600 --> 00:54:10,640 And I don't have expertise in incense sticks 888 00:54:10,720 --> 00:54:13,680 - so I wish you the best but I'm out. - Alright. 889 00:54:15,640 --> 00:54:18,680 It's difficult to scale it up due to the fragmentation of the market. 890 00:54:18,760 --> 00:54:20,920 The cost of logistics is so high 891 00:54:21,000 --> 00:54:22,560 that you can't make them available everywhere. 892 00:54:22,640 --> 00:54:24,600 You will have to open multiple factories as it's a local business. 893 00:54:24,720 --> 00:54:27,520 Sir, there are brands like Zed Black and Cycle Agarbatti. 894 00:54:27,600 --> 00:54:29,960 Their turnover is Rs. 800 crores. 895 00:54:30,080 --> 00:54:31,120 I agree. 896 00:54:31,200 --> 00:54:34,720 I mean the journey of building a renowned brand 897 00:54:35,080 --> 00:54:36,880 isn't an easy one. 898 00:54:37,000 --> 00:54:38,760 So I want to be out. 899 00:54:38,840 --> 00:54:40,040 I don't foresee scalability. 900 00:54:40,120 --> 00:54:43,960 I would have surely considered it if you had some intellectual property. 901 00:54:44,240 --> 00:54:46,240 - I want to be out today. - Okay, sir. 902 00:54:46,800 --> 00:54:49,280 I don't have expertise in this area 903 00:54:49,360 --> 00:54:51,600 so I want to be out. 904 00:54:51,680 --> 00:54:54,320 Obviously, the incense sticks business must be quite big. 905 00:54:54,400 --> 00:54:56,800 - You said it's Rs. 10,000 crore market. - Rs. 10,000 crores! 906 00:54:56,880 --> 00:54:58,480 I learned it just now. 907 00:54:58,560 --> 00:55:01,720 I don't think I can help you so I'm out. 908 00:55:02,520 --> 00:55:04,680 I don't understand your business, 909 00:55:04,760 --> 00:55:07,360 to be frank. The incense sticks business is solid 910 00:55:07,440 --> 00:55:09,120 but the business of night incense sticks is... 911 00:55:09,200 --> 00:55:11,320 We are selling devotional ones as well as Night Agarbattis. 912 00:55:11,440 --> 00:55:13,360 Two products can't grow under a single brand. 913 00:55:14,560 --> 00:55:17,480 Yes. Actually, you are selling devotional incense sticks 914 00:55:17,560 --> 00:55:20,560 and selling the same product as Night Agarbattis. So I'm out. 915 00:55:21,760 --> 00:55:26,520 Amit, you are a good businessman. Okay? 916 00:55:26,680 --> 00:55:29,400 Taking money from investors 917 00:55:29,480 --> 00:55:31,760 to grow the business 918 00:55:31,880 --> 00:55:34,440 and return their money is a different ball game. 919 00:55:34,720 --> 00:55:36,560 But you have certain fanaticism. 920 00:55:36,800 --> 00:55:38,640 And it's believed 921 00:55:38,720 --> 00:55:42,080 that there is a fine line between insanity and greatness. 922 00:55:42,440 --> 00:55:46,560 Only you know if you'd succeed in making the business great in future. 923 00:55:46,680 --> 00:55:49,280 I wish you the best of luck 924 00:55:49,400 --> 00:55:50,840 but I want to be out. 925 00:55:50,920 --> 00:55:53,000 - All Sharks are out. Good luck! - Good luck! 926 00:55:53,120 --> 00:55:54,640 - Thank you! - Thank you! 927 00:55:55,320 --> 00:55:58,320 [mellow music] 928 00:56:16,240 --> 00:56:18,240 'Peyush, in today's Shark Xperience segment,' 929 00:56:18,320 --> 00:56:21,000 'Vimal Rathi from Ajmer has a question for you.' 930 00:56:21,080 --> 00:56:23,320 'What is the right time to leave our job' 931 00:56:23,400 --> 00:56:26,080 'and begin a start-up according to you?' 932 00:56:26,160 --> 00:56:28,360 Vimal, it's a good question.