1 00:01:04,480 --> 00:01:07,400 [music playing] 2 00:01:13,440 --> 00:01:15,560 [music playing] 3 00:01:25,680 --> 00:01:27,160 - Hello, Sharks. - Hello. 4 00:01:27,240 --> 00:01:30,720 As a parent, I've answered many of my children's questions. 5 00:01:30,800 --> 00:01:33,640 For example, why is the earth round? 6 00:01:33,720 --> 00:01:35,960 Why is the sky blue? 7 00:01:36,040 --> 00:01:38,560 Can we eat chalk? 8 00:01:39,200 --> 00:01:41,240 Why do we have to wear clothes? 9 00:01:41,320 --> 00:01:43,000 [laughs] 10 00:01:43,560 --> 00:01:44,960 But there's a question 11 00:01:45,040 --> 00:01:48,080 that troubles every mother. 12 00:01:48,160 --> 00:01:50,560 Mom, what's for food? 13 00:01:52,480 --> 00:01:53,680 As the saying goes, 14 00:01:53,760 --> 00:01:56,320 desperation leads to innovation. 15 00:01:56,400 --> 00:01:58,480 Our story is similar. 16 00:01:59,320 --> 00:02:01,280 From husband to kids, 17 00:02:01,360 --> 00:02:03,240 from children to grandpa, 18 00:02:03,320 --> 00:02:04,960 everybody has a different taste. 19 00:02:05,080 --> 00:02:06,400 [music playing] 20 00:02:06,480 --> 00:02:09,360 Some want it tasty and some want it healthy. 21 00:02:10,360 --> 00:02:11,960 Some want it to be less oily and spicy, 22 00:02:12,040 --> 00:02:13,360 while some want it spicy. 23 00:02:13,640 --> 00:02:18,360 But mothers always prefer to feed them healthily. 24 00:02:20,360 --> 00:02:22,600 So, Sharks, we decided 25 00:02:22,680 --> 00:02:25,200 to bring mothers out of their kitchen 26 00:02:25,280 --> 00:02:27,360 and take away their worries. 27 00:02:27,440 --> 00:02:29,200 - Wow! - Applause for that! 28 00:02:29,280 --> 00:02:31,040 It's a noble mission. 29 00:02:35,600 --> 00:02:36,760 Greetings. 30 00:02:37,280 --> 00:02:39,120 I would like to introduce 31 00:02:39,200 --> 00:02:40,680 India's biggest 32 00:02:40,760 --> 00:02:43,720 healthy munching brand, the Healthy Master. 33 00:02:48,160 --> 00:02:52,400 And Healthy Master is a platform for healthy munchies. 34 00:02:53,000 --> 00:02:54,640 - Wow! - Our snacks 35 00:02:54,720 --> 00:02:56,760 are made of natural raw material like 36 00:03:04,200 --> 00:03:06,880 You will ask me why millet. We use millet because 37 00:03:06,960 --> 00:03:08,960 my grandpa used to always say 38 00:03:11,720 --> 00:03:14,040 [laughs] 39 00:03:14,480 --> 00:03:17,600 We call them millets now. 40 00:03:18,400 --> 00:03:20,480 Today, we have 41 00:03:20,560 --> 00:03:24,160 250+ snacks and many categories available. 42 00:03:24,240 --> 00:03:27,240 [music playing] 43 00:03:27,360 --> 00:03:28,880 Sharks, we are on a mission 44 00:03:43,600 --> 00:03:44,920 I would like to call upon my husband 45 00:03:45,000 --> 00:03:46,960 who is also the co-founder of our company. 46 00:03:47,040 --> 00:03:48,400 Sure. 47 00:03:48,480 --> 00:03:50,000 Please come! 48 00:03:50,080 --> 00:03:51,640 Really? 49 00:03:51,720 --> 00:03:53,480 [music playing] 50 00:03:55,120 --> 00:03:57,000 [song playing] 51 00:04:04,160 --> 00:04:06,280 "Oh, dear, hear me out." 52 00:04:06,400 --> 00:04:07,960 [laughs] 53 00:04:10,520 --> 00:04:12,520 Do you really call him that way? 54 00:04:12,600 --> 00:04:14,320 Or was it just for effect? 55 00:04:15,680 --> 00:04:18,000 I'm from a Marwari family. 56 00:04:18,080 --> 00:04:20,680 That's how we say it. 57 00:04:20,760 --> 00:04:21,800 Does she call you that way at home? 58 00:04:21,880 --> 00:04:22,040 No. 59 00:04:22,120 --> 00:04:23,480 No. She used to earlier, but not anymore. 60 00:04:23,560 --> 00:04:25,320 [laughs] 61 00:04:28,000 --> 00:04:30,160 Welcome to Shark Tank! 62 00:04:30,240 --> 00:04:32,320 - Thank you. - It's a nice mission 63 00:04:32,400 --> 00:04:34,720 - to create a junk-free India. - Right. 64 00:04:34,800 --> 00:04:36,480 - It's very important. - Yes. 65 00:04:36,560 --> 00:04:38,240 So, firstly tell me, 66 00:04:38,320 --> 00:04:41,000 how are Shivali and Dipti related to each other? 67 00:04:41,080 --> 00:04:43,240 We are apartment friends. 68 00:04:43,360 --> 00:04:44,840 We were neighbours. 69 00:04:44,960 --> 00:04:47,120 We know each other since 2008. 70 00:04:47,240 --> 00:04:48,760 - Where are you from? - Bengaluru. 71 00:04:48,840 --> 00:04:50,240 When did you start this? 72 00:04:50,360 --> 00:04:51,680 2019. 73 00:04:53,000 --> 00:04:54,640 When my first child was born, 74 00:04:54,720 --> 00:04:58,000 he developed an intestinal problem when he was 1.5 years old. 75 00:04:58,800 --> 00:05:02,120 Doctors strictly asked him to avoid outside food. 76 00:05:02,200 --> 00:05:04,720 Also, he was asked to avoid all-purpose flour. 77 00:05:05,680 --> 00:05:06,880 How much can you force the child to eat homecooked food? 78 00:05:06,960 --> 00:05:10,080 A child wants to eat chocolates, snacks, and food outside. 79 00:05:10,960 --> 00:05:13,880 So, I used to try things at home. 80 00:05:14,000 --> 00:05:16,640 I would learn from YouTube, from friends, 81 00:05:16,760 --> 00:05:18,200 and do a lot of R&D at home. 82 00:05:18,320 --> 00:05:20,720 From cookies, snacks, 83 00:05:20,800 --> 00:05:22,360 pizza, burger, everything. 84 00:05:22,440 --> 00:05:24,400 I used to make it without all-purpose flour. 85 00:05:24,480 --> 00:05:25,560 Very nice! 86 00:05:25,640 --> 00:05:28,360 Since then, we don't buy all-purpose flour at home, 87 00:05:28,440 --> 00:05:31,840 - white sugar, and white salt. - No white allowed. 88 00:05:33,080 --> 00:05:34,080 - Wow! - Wow! 89 00:05:34,160 --> 00:05:35,760 - Wonderful! - Beautiful! 90 00:05:35,880 --> 00:05:37,760 No white for the last 15 years. 91 00:05:42,960 --> 00:05:44,960 - Wow! - What's your role? 92 00:05:49,240 --> 00:05:50,600 [laughs] 93 00:05:59,880 --> 00:06:01,400 - Okay. - I have financial commitments. 94 00:06:08,640 --> 00:06:09,680 Right? 95 00:06:10,440 --> 00:06:11,920 What's your story, sir? 96 00:06:12,000 --> 00:06:14,200 Sir, I've done MBA from Udaipur. 97 00:06:14,280 --> 00:06:18,680 After my MBA, I started my career with Cipla Pharmaceuticals. 98 00:06:18,920 --> 00:06:22,880 After working for 10 years, I started my company in 2012. 99 00:06:23,040 --> 00:06:24,720 - A granite export company. - Okay. 100 00:06:24,800 --> 00:06:27,920 I run it with my partner until 2019. 101 00:06:28,040 --> 00:06:29,360 It's still running. 102 00:06:29,760 --> 00:06:33,120 We earned a profit from the first month. 103 00:06:33,200 --> 00:06:37,720 In FY 20-21, we had a turnover of 24 crores. 104 00:06:37,800 --> 00:06:40,680 In FY 21-22, we took it to 40 crores. 105 00:06:40,760 --> 00:06:42,960 This year, we're targeting 55 crores. 106 00:06:44,960 --> 00:06:46,680 When Shivali told me about this cause, 107 00:06:46,760 --> 00:06:49,920 snacking is a huge market in India. 108 00:06:50,000 --> 00:06:52,000 So, I saw great potential 109 00:06:52,120 --> 00:06:54,280 and decided to support her. 110 00:06:54,760 --> 00:06:56,400 We worked hard in the beginning. 111 00:06:56,480 --> 00:06:59,400 We put up stalls at exhibitions, make deliveries, 112 00:06:59,880 --> 00:07:02,640 and that's how this platform was built. 113 00:07:03,920 --> 00:07:05,120 So, you're into both the businesses. 114 00:07:05,200 --> 00:07:08,160 My granite business is pretty well set up. 115 00:07:08,240 --> 00:07:10,560 I have joined her full-time since February. 116 00:07:10,680 --> 00:07:12,560 Shivali, did you bring something to eat? 117 00:07:12,680 --> 00:07:13,920 - Yes, right away, Sharks. - Of course, sir. 118 00:07:14,000 --> 00:07:16,040 [laughs] 119 00:07:18,680 --> 00:07:21,520 You're always hungry, Aman. 120 00:07:21,960 --> 00:07:24,120 [music playing] 121 00:07:25,480 --> 00:07:27,080 - Wow! - Very nicely presented. 122 00:07:27,160 --> 00:07:29,320 Sir, this is beetroot chips. 123 00:07:29,400 --> 00:07:30,840 It's non-fried 124 00:07:39,480 --> 00:07:41,680 - What's this? - The bhakarwadi 125 00:07:41,800 --> 00:07:43,680 is purely made of wheat flour. 126 00:07:48,960 --> 00:07:50,280 It's amazing. 127 00:08:00,200 --> 00:08:02,480 No sugar or sugar substitutes. 128 00:08:02,560 --> 00:08:04,160 In fact, no honey too. 129 00:08:10,360 --> 00:08:11,560 is very difficult. 130 00:08:12,520 --> 00:08:13,520 Thank you. 131 00:08:13,600 --> 00:08:15,480 Forget all that. 132 00:08:15,560 --> 00:08:17,840 Tell me the sales numbers for 25 crores valuation. 133 00:08:17,920 --> 00:08:20,400 Sharks, we started in 2019. 134 00:08:44,880 --> 00:08:46,160 What are you planning to do this year? 135 00:08:46,240 --> 00:08:50,080 Our projection for the current year is 8.25 crores. 136 00:08:55,880 --> 00:08:58,920 Corporate snacking is a niche market. 137 00:08:59,040 --> 00:09:01,360 And corporates are now back to work. 138 00:09:06,960 --> 00:09:09,280 At this scale, you can't 139 00:09:09,360 --> 00:09:12,600 become the king of two markets. Which one would you choose? 140 00:09:12,720 --> 00:09:14,160 [music playing] 141 00:09:14,280 --> 00:09:16,960 No, we don't want to become kings but cater to it, 142 00:09:17,040 --> 00:09:18,080 and grow our sales. 143 00:09:19,640 --> 00:09:21,760 Tell me something. Your sales of 20 lakhs, 144 00:09:21,960 --> 00:09:24,080 how is it divided? 145 00:09:35,600 --> 00:09:37,560 So, you're making 10 lakhs from your site. Is it? 146 00:09:37,640 --> 00:09:39,880 Yes, our website. 147 00:09:40,120 --> 00:09:41,920 How do customers reach out to you? 148 00:09:42,000 --> 00:09:43,080 Through Google ads, sir. 149 00:09:43,160 --> 00:09:44,800 What do you put there? Their photos? 150 00:09:44,880 --> 00:09:46,120 Yes, their photos 151 00:09:46,240 --> 00:09:48,400 and also run website traffic search campaigns. 152 00:09:48,480 --> 00:09:50,400 On average, how much order does it lead to? 153 00:09:50,480 --> 00:09:52,480 The acquisition cost is Rs. 515. 154 00:09:58,320 --> 00:10:00,320 Your product costs Rs. 100. 155 00:10:00,400 --> 00:10:02,360 Our average order value is Rs. 1,250. 156 00:10:08,080 --> 00:10:09,600 Rs. 1,250 is impossible. 157 00:10:09,680 --> 00:10:11,360 [suspenseful music] 158 00:10:11,440 --> 00:10:13,000 You may take an example of a big company. 159 00:10:13,080 --> 00:10:16,160 We have invested in many chips businesses. Rs. 1,250 is impossible. 160 00:10:18,080 --> 00:10:21,040 I have 500 SKUs as they are SUGAR cosmetics. 161 00:10:21,120 --> 00:10:24,040 We have an average of 2 or 1.5. 162 00:10:24,120 --> 00:10:27,480 Indian consumers don't buy 12 items at a time. 163 00:10:28,880 --> 00:10:30,960 - We can show you our app. - Yes. 164 00:10:31,080 --> 00:10:33,120 Many customers 165 00:10:33,200 --> 00:10:35,360 - buy so many items that they have huge bills. - App? 166 00:10:35,440 --> 00:10:38,920 - We have Android and iOS apps and a website too. - We have our app too. 167 00:10:39,040 --> 00:10:40,400 Please show us your app. 168 00:10:42,080 --> 00:10:44,400 I'm impressed to know 169 00:10:44,520 --> 00:10:47,680 that you made an app for a snacks company. It's a good decision. 170 00:10:47,760 --> 00:10:50,680 - Thank you! - Sharks, as soon as you log in, 171 00:10:50,760 --> 00:10:52,280 the MEMBERCLUB PLAN will show you options. 172 00:10:52,360 --> 00:10:53,560 Again, it's a good decision. 173 00:10:53,640 --> 00:10:56,040 Let's order products from the bestseller category. 174 00:10:56,120 --> 00:10:58,840 You may choose the quantity here 175 00:10:58,920 --> 00:11:00,120 where the respective prices are mentioned. 176 00:11:00,200 --> 00:11:01,520 Impressive. Very impressive. 177 00:11:01,600 --> 00:11:03,480 Let's order 1 kg 178 00:11:03,600 --> 00:11:05,360 so that all of us can enjoy it. 179 00:11:06,640 --> 00:11:07,720 Then we add it to the cart. 180 00:11:07,800 --> 00:11:10,240 As your order value is more than Rs. 700, 181 00:11:10,320 --> 00:11:12,480 you'll get the option of freebies. 182 00:11:12,560 --> 00:11:15,000 It'd be helpful when they buy the next time. 183 00:11:15,080 --> 00:11:18,200 Wonderful! So they'd get it when they buy the next time. 184 00:11:18,280 --> 00:11:20,400 Who is the mastermind of this app? 185 00:11:20,480 --> 00:11:22,200 The mastermind for marketing is me. 186 00:11:22,280 --> 00:11:23,960 - Oh, my! - It's impressive. 187 00:11:24,640 --> 00:11:26,120 Did you sell them at the shops? 188 00:11:26,240 --> 00:11:28,560 Sir, there's a drawback to selling them at stores. 189 00:11:30,000 --> 00:11:34,080 The shelf life of our products is less as preservatives aren't used. 190 00:11:34,200 --> 00:11:36,760 - What is their shelf life? - Four months. 191 00:11:36,840 --> 00:11:38,400 A shelf life of four months is good enough. 192 00:11:38,480 --> 00:11:41,720 - It must fall between 6 months to 1 year. - More than 6 months. 193 00:11:42,240 --> 00:11:45,080 90% of India still shops offline. 194 00:11:45,360 --> 00:11:48,800 You must do something to increase its shelf life if not preservatives. 195 00:11:48,880 --> 00:11:50,680 [tense music] 196 00:11:50,760 --> 00:11:53,000 We can open our outlets. 197 00:11:53,080 --> 00:11:54,360 Gosh! You mean a fixed cost! 198 00:11:56,880 --> 00:11:58,120 If you open your stores, you'd be done for. 199 00:11:58,200 --> 00:11:59,920 We may do it in future. 200 00:12:00,960 --> 00:12:03,000 If you solve this problem, your products can be marketed 201 00:12:03,080 --> 00:12:06,960 in the general trade market having 10 lakh stores. 202 00:12:08,840 --> 00:12:12,080 I want to know the unit economics of your first order and repeat orders. 203 00:12:12,160 --> 00:12:13,240 [suspenseful music] 204 00:12:27,600 --> 00:12:29,760 - So your burn is Rs. 2 lakhs per month. - Yes! 205 00:12:30,680 --> 00:12:32,880 Your team is great and you too. 206 00:12:32,960 --> 00:12:36,040 You know how to do business but I'm out for some reasons. 207 00:12:38,160 --> 00:12:39,760 Your SKU count is large. 208 00:12:39,840 --> 00:12:43,040 It's unmanageable. You must reduce them when your business grows. 209 00:12:43,120 --> 00:12:44,920 [dramatic music] 210 00:12:45,040 --> 00:12:46,600 Most importantly, 211 00:12:46,680 --> 00:12:48,160 you must focus on the offline market 212 00:12:48,240 --> 00:12:51,520 because your main market is offline. Thank you and all the best. 213 00:12:53,280 --> 00:12:54,840 It's too cluttered 214 00:12:54,920 --> 00:12:56,440 and there are innumerable players in this industry. 215 00:12:56,520 --> 00:12:59,360 And you don't have a differentiator. 216 00:12:59,440 --> 00:13:01,920 [dramatic music] 217 00:13:02,000 --> 00:13:04,920 For this reason, I'm also out but I wish you the best. 218 00:13:06,160 --> 00:13:09,640 What is your proposition? Is it the taste? 219 00:13:10,960 --> 00:13:12,280 Is it your marketing strategy? 220 00:13:12,360 --> 00:13:14,160 Or any other thing. I don't get it. 221 00:13:14,280 --> 00:13:16,320 [tense music] 222 00:13:16,720 --> 00:13:20,320 No brand has so many products on a single platform. 223 00:13:20,400 --> 00:13:21,920 Usually, a company 224 00:13:22,000 --> 00:13:24,240 sells five varieties to four varieties. 225 00:13:24,320 --> 00:13:26,800 You consider it a strength but I think it's a weakness. 226 00:13:28,200 --> 00:13:29,480 I'll give you some advice. 227 00:13:29,560 --> 00:13:32,720 Try to make it more profitable 228 00:13:33,400 --> 00:13:35,560 and earn cash every month. 229 00:13:35,640 --> 00:13:39,040 You can crack it as you have the prowess. 230 00:13:39,120 --> 00:13:40,720 Increase your gross margin 231 00:13:40,840 --> 00:13:42,200 and your business too. 232 00:13:42,280 --> 00:13:43,880 You don't need an investment. 233 00:13:44,000 --> 00:13:47,000 You made a business of Rs. 50 crores earlier. 234 00:13:47,080 --> 00:13:48,720 So you can easily grow your business to Rs. 20 crores. 235 00:13:48,800 --> 00:13:51,040 I don't think you need capital. That's the reason, I'm out. 236 00:13:51,160 --> 00:13:52,600 [sweeping music] 237 00:13:53,400 --> 00:13:55,120 I agree with Anupam. 238 00:14:09,360 --> 00:14:12,120 - I'll surely be your customer. 100%! - Thank you! 239 00:14:12,440 --> 00:14:15,800 You know, your mission of junk-free India 240 00:14:15,880 --> 00:14:19,680 and keeping the mothers out of the kitchen is admirable. 241 00:14:20,680 --> 00:14:24,520 Your passion and understanding of the products are amazing 242 00:14:24,600 --> 00:14:28,640 as you replaced sugar with dates. It's very interesting. 243 00:14:30,720 --> 00:14:31,760 So I'll give you an offer. 244 00:14:31,840 --> 00:14:33,160 Oh! [joyful music] 245 00:14:33,240 --> 00:14:34,760 - Thank you! - Nice one. 246 00:14:34,880 --> 00:14:37,480 I think all three cofounders 247 00:14:37,560 --> 00:14:40,000 shouldn't spend their time in the B2B segment. 248 00:14:40,080 --> 00:14:42,840 That's my condition because I think it's a distraction. 249 00:14:43,000 --> 00:14:45,600 My offer is Rs. 50 lakhs 250 00:14:45,680 --> 00:14:48,160 for 7.1% equity in your company. 251 00:14:53,640 --> 00:14:55,800 [sweeping music] 252 00:14:58,280 --> 00:15:01,080 The equity is less. You shouldn't have asked for less than 10%. 253 00:15:01,160 --> 00:15:03,080 You have a lot of work like branding. 254 00:15:03,200 --> 00:15:05,440 - They are back! - It's a lot of work. 255 00:15:07,760 --> 00:15:09,800 So what's your decision? 256 00:15:09,880 --> 00:15:11,640 Thank you for your offer. 257 00:15:11,720 --> 00:15:13,320 We have a tiny counteroffer. 258 00:15:14,440 --> 00:15:15,480 A tiny counteroffer! 259 00:15:15,560 --> 00:15:16,920 There isn't much difference. 260 00:15:17,000 --> 00:15:19,160 You won't believe me. All of them chided me for taking less equity. 261 00:15:19,240 --> 00:15:22,480 - I didn't. - We'll prove them wrong. 262 00:15:23,760 --> 00:15:27,840 We'll increase the current valuation up to three times in 2 years. 263 00:15:27,960 --> 00:15:29,280 Oh, my! 264 00:15:35,400 --> 00:15:36,960 in the next few years, 265 00:15:37,040 --> 00:15:39,000 we'd grow our business multifold. 266 00:15:40,720 --> 00:15:43,880 We want to give you 6% equity. 267 00:16:10,960 --> 00:16:12,400 - Thank you! - Thank you so much! 268 00:16:12,480 --> 00:16:13,920 - Thank you! - Thank you so much, Sharks! 269 00:16:14,000 --> 00:16:15,000 Thanks! Congratulations. 270 00:16:15,080 --> 00:16:17,160 - Thank you! - Thank you so much! 271 00:16:18,600 --> 00:16:20,960 - Yes! - Yes! 272 00:16:21,040 --> 00:16:21,840 We made it! 273 00:16:21,960 --> 00:16:23,280 - We made it, Shivali! - Yes! 274 00:16:23,360 --> 00:16:24,560 - We made it. - We did it! 275 00:16:24,680 --> 00:16:26,680 [humming] 276 00:16:26,760 --> 00:16:28,720 [bubbling] 277 00:16:51,080 --> 00:16:53,240 [dramatic music] 278 00:17:03,760 --> 00:17:05,800 - Hi, Sharks! I'm Shubhankar. - Hi! 279 00:17:05,880 --> 00:17:08,960 Hi, Sharks! My name is Abhishek and we hail from Hyderabad. 280 00:17:14,600 --> 00:17:17,000 I belong to the vintage era of 1963. 281 00:17:17,080 --> 00:17:19,280 After my 40th birthday, 282 00:17:19,360 --> 00:17:21,160 I stopped counting my age. 283 00:17:21,280 --> 00:17:23,480 - Very good idea. - Thank you! 284 00:17:23,560 --> 00:17:25,880 As a child, my passion 285 00:17:26,000 --> 00:17:29,320 was to collect erasers, pencils, stamps and coins. 286 00:17:30,200 --> 00:17:31,720 When we went out shopping 287 00:17:31,840 --> 00:17:33,520 for items like toys, books and stationery products 288 00:17:33,600 --> 00:17:36,080 when they were children, 289 00:17:36,160 --> 00:17:38,160 we couldn't find quality products. 290 00:17:38,280 --> 00:17:41,280 There was no concept of all under one roof. 291 00:17:41,360 --> 00:17:43,560 So, Sharks, 12 years ago 292 00:17:43,640 --> 00:17:46,240 I turned my passion into a business 293 00:17:46,320 --> 00:17:48,440 which led to the inception of KITSONS. 294 00:17:48,520 --> 00:17:50,760 [motivational music] 295 00:17:50,840 --> 00:17:52,560 KITSONS is a one-stop shop 296 00:17:52,640 --> 00:17:54,520 where you get quality toys, 297 00:18:01,080 --> 00:18:02,600 KITSONS provides you 298 00:18:02,680 --> 00:18:05,760 more than 20,000 carefully selected items 299 00:18:05,840 --> 00:18:08,160 for everyone including kids and the elderly. 300 00:18:10,960 --> 00:18:12,800 Sharks, we have seven exclusive stores 301 00:18:24,040 --> 00:18:26,760 So, Sharks, we offer 302 00:18:37,640 --> 00:18:39,720 You joined the army. You are like... 303 00:18:39,840 --> 00:18:42,240 - Yes. - You served the nation and all of us are proud of you. 304 00:18:42,320 --> 00:18:44,080 Why did you leave the army? 305 00:18:50,320 --> 00:18:51,840 [sweeping music] 306 00:18:56,920 --> 00:18:59,200 [inspirational music] 307 00:19:03,400 --> 00:19:05,760 I took early retirement in 2007 308 00:19:05,840 --> 00:19:08,680 after completing 22 years of service. 309 00:19:14,440 --> 00:19:18,000 I lived my life like a boss. 310 00:19:18,680 --> 00:19:19,920 Well done! 311 00:19:20,000 --> 00:19:22,320 Hats off, sir! Amazing! 312 00:19:22,400 --> 00:19:23,600 Thank you very much! 313 00:19:25,920 --> 00:19:28,400 Abhishek and Shubhankar, what's your passion? 314 00:19:28,480 --> 00:19:30,840 Did you have an option? Or were you forced? 315 00:19:30,920 --> 00:19:33,480 I completed my graduation in mechanical engineering 316 00:19:33,560 --> 00:19:35,160 and a diploma in business management. 317 00:19:35,240 --> 00:19:36,400 I worked at Accenture 318 00:19:36,520 --> 00:19:39,040 as SAP consultant. 319 00:19:39,160 --> 00:19:41,240 I also worked at D.E. Shaw company. 320 00:19:41,320 --> 00:19:43,240 When they decided to open a fourth outlet, 321 00:19:43,360 --> 00:19:45,800 I decided to join them in their business. 322 00:19:45,880 --> 00:19:46,720 What about you? 323 00:19:46,800 --> 00:19:48,440 I pursued engineering in Pune. 324 00:19:48,520 --> 00:19:50,840 - I worked for BYJU'S in the first year. - Alright. 325 00:19:50,960 --> 00:19:53,040 Then I joined a start-up 326 00:19:53,120 --> 00:19:55,840 whose market was mostly the US and Europe. 327 00:19:55,960 --> 00:19:59,320 Then I decided to either work for the public 328 00:19:59,400 --> 00:20:02,200 or for my father. 329 00:20:02,560 --> 00:20:05,560 And I recently joined KITSONS two months ago as an intern. 330 00:20:06,600 --> 00:20:08,440 I understand what 'SONS' means. 331 00:20:08,520 --> 00:20:10,440 Because both your sons are working with you. 332 00:20:10,520 --> 00:20:12,040 What does 'KIT' stand for? 333 00:20:23,240 --> 00:20:25,280 Can you tell us your roles in the company? 334 00:20:25,360 --> 00:20:28,480 Sir, I'm involved in daily operations. 335 00:20:35,320 --> 00:20:37,560 We have automated purchase orders for those brands. 336 00:20:37,680 --> 00:20:39,400 So you look after purchasing. 337 00:20:39,600 --> 00:20:40,760 Sonu, what do you do? 338 00:20:40,840 --> 00:20:42,640 I joined recently as an intern. 339 00:20:42,720 --> 00:20:44,920 - I'm working part-time for now. - Oh, okay. 340 00:20:45,040 --> 00:20:47,320 I'll work full-time by the next month. 341 00:20:48,320 --> 00:20:51,920 There are many shops in Mumbai selling stationery items, 342 00:20:52,000 --> 00:20:55,200 toys, art & craft and other such things in one place. 343 00:20:55,720 --> 00:20:57,640 Why would people come to your shop? 344 00:20:57,760 --> 00:20:59,720 The number of SKUs we have is higher. 345 00:20:59,800 --> 00:21:01,640 The second reason is the quality of toys. 346 00:21:01,720 --> 00:21:03,560 KITSONS is a no-China store. 347 00:21:03,840 --> 00:21:06,200 I witnessed the problems faced at the LOC. 348 00:21:06,280 --> 00:21:09,560 If we don't support the Indian Government, who else will? 349 00:21:09,960 --> 00:21:11,600 Are all toys made in India? 350 00:21:11,680 --> 00:21:16,480 Yes. We also imported from Europe in 2020. 351 00:21:16,800 --> 00:21:18,760 Covid couldn't douse our hopes. 352 00:21:18,840 --> 00:21:20,520 I earned money even during Covid. 353 00:21:20,600 --> 00:21:22,520 The online market is the biggest threat 354 00:21:22,640 --> 00:21:26,680 but since the inception of our business, every store 355 00:21:26,760 --> 00:21:27,960 and every branch is profitable individually. 356 00:21:29,040 --> 00:21:29,840 Wow! 357 00:21:29,960 --> 00:21:33,120 I didn't spend a penny on marketing. 358 00:21:34,280 --> 00:21:36,040 My conversion rate is 100%. 359 00:21:36,120 --> 00:21:38,400 You mean anyone who enters the shop surely buys. 360 00:21:38,480 --> 00:21:40,800 By the way, I follow a rule which could be considered improper. 361 00:21:47,840 --> 00:21:48,960 Please don't feel bad 362 00:21:49,040 --> 00:21:51,760 but many Hollywood films show 363 00:21:51,840 --> 00:21:54,680 a stern shopkeeper. 364 00:21:55,680 --> 00:21:57,000 I'm one of those. 365 00:21:57,080 --> 00:22:01,040 They are too strict. No return. "If you touch something, you buy it. 366 00:22:01,120 --> 00:22:03,600 If you break something, it's yours. You pay for it." 367 00:22:03,680 --> 00:22:04,720 Do you run your shop like this? 368 00:22:04,840 --> 00:22:06,760 I'm quite close to that. A bit stern. 369 00:22:06,840 --> 00:22:08,880 [laughing] 370 00:22:08,960 --> 00:22:11,640 Colonel, your business model 371 00:22:11,720 --> 00:22:14,560 is quite rigid. 372 00:22:15,840 --> 00:22:18,160 I want to ask your sons something. 373 00:22:18,240 --> 00:22:20,040 No exchange, no returns... 374 00:22:20,120 --> 00:22:22,560 Do you believe in such a business philosophy? 375 00:22:22,640 --> 00:22:24,760 Sir, we don't just sell items. 376 00:22:24,840 --> 00:22:27,360 Each and every item is tested before giving to the customer. 377 00:22:28,240 --> 00:22:29,840 If there is a mechanical problem 378 00:22:29,960 --> 00:22:33,240 or a manufacturing defect, we exchange without asking questions. 379 00:22:34,760 --> 00:22:35,560 What's your revenue? 380 00:22:36,320 --> 00:22:39,720 - Last year, audited revenue was Rs. 6.3 crores. - Wow! 381 00:22:39,800 --> 00:22:40,960 What was your EBITDA last year? 382 00:22:41,040 --> 00:22:42,120 What do you mean by EBITDA? 383 00:22:42,200 --> 00:22:44,760 - Profit! - My gross profit is 35%. 384 00:22:58,560 --> 00:22:59,600 Please share your sales figures before Covid. 385 00:23:12,240 --> 00:23:14,400 Great! In which year did you start? 386 00:23:14,480 --> 00:23:16,040 We started in 2010. 387 00:23:21,840 --> 00:23:23,840 Your earning doubled because of the stores you opened. 388 00:23:23,920 --> 00:23:26,960 Are the sales of your 2-year-old store increasing every year? 389 00:23:27,040 --> 00:23:29,880 All of them... I won't call it a geometric progression 390 00:23:29,960 --> 00:23:32,680 but arithmetic progression. All my stores are growing. 391 00:23:33,680 --> 00:23:36,960 This year, your profit will be Rs. 1.9 crores. But still, 392 00:23:37,040 --> 00:23:41,200 you want 50 times more valuation. 393 00:23:42,480 --> 00:23:44,920 Colonel, you are a sensible person. 394 00:23:45,040 --> 00:23:46,920 You called yourself stern. 395 00:23:47,440 --> 00:23:49,880 Why are you trying to fool us? 396 00:23:49,960 --> 00:23:51,920 [dramatic music] 397 00:23:52,000 --> 00:23:54,200 There must be a reason. Please tell us. 398 00:23:54,320 --> 00:23:57,280 I don't know the nitty-gritties 399 00:23:57,360 --> 00:24:00,440 of a business. 400 00:24:01,480 --> 00:24:04,440 I feel I'm more like Dhirubhai Ambani. 401 00:24:04,560 --> 00:24:06,960 I don't understand the language used by Mukesh Ambani. 402 00:24:08,360 --> 00:24:09,680 But let me tell you 403 00:24:09,800 --> 00:24:10,920 that we want to open 404 00:24:11,040 --> 00:24:13,560 20 company-owned stores in the next two years. 405 00:24:14,320 --> 00:24:15,440 Along with that, 406 00:24:15,520 --> 00:24:19,440 we plan to launch 80 franchise stores in the next two years. 407 00:24:20,160 --> 00:24:21,960 And we already 408 00:24:22,040 --> 00:24:24,480 have many franchise requirements. 409 00:24:24,560 --> 00:24:28,000 We have investors and offers of partnership. 410 00:24:29,720 --> 00:24:31,040 I have decided. 411 00:24:31,120 --> 00:24:32,240 [music playing] 412 00:24:32,320 --> 00:24:34,440 Firstly, Mr Reddy, you're from the Army. 413 00:24:34,520 --> 00:24:36,960 I salute people from the Army. I respect them a lot! 414 00:24:37,040 --> 00:24:38,760 But in every city, 415 00:24:38,840 --> 00:24:40,680 there are local stores like yours. 416 00:24:40,800 --> 00:24:44,000 In Pune, I trust two stores. 417 00:24:44,080 --> 00:24:46,280 I have a relationship with the owner. 418 00:24:46,360 --> 00:24:49,200 So, I like going there. It's an experience. 419 00:24:49,280 --> 00:24:53,640 The extent of scaling for this valuation will be difficult. 420 00:24:54,680 --> 00:24:58,640 Congratulations for cracking it in Hyderabad! 421 00:24:58,920 --> 00:25:00,880 But it seems difficult to do pan India. 422 00:25:00,880 --> 00:25:02,320 For that reason, I'm out. 423 00:25:02,440 --> 00:25:03,840 Thank you very much. No problem. 424 00:25:03,960 --> 00:25:05,640 I feel that in the long run 425 00:25:05,760 --> 00:25:07,240 competing with a brand like Amazon 426 00:25:07,360 --> 00:25:09,520 will become more challenging. 427 00:25:11,000 --> 00:25:13,800 Because at the end of the day, thanks to technology, 428 00:25:13,880 --> 00:25:17,080 and ability to stock millions of SKUs. 429 00:25:17,160 --> 00:25:21,600 Having a variety of ranges and unique curation for retailers 430 00:25:21,720 --> 00:25:23,160 might get difficult. 431 00:25:24,600 --> 00:25:26,400 So, I'm not able to take a bet on it. 432 00:25:26,480 --> 00:25:29,320 So, for that reason, I'm out for now. 433 00:25:29,400 --> 00:25:30,400 Best of luck! 434 00:25:30,480 --> 00:25:32,720 - Thank you, ma'am. - No issues. 435 00:25:32,800 --> 00:25:35,280 Retail businesses are tricky. 436 00:25:36,320 --> 00:25:38,840 You have a disciplinarian background, being from the Army. 437 00:25:38,960 --> 00:25:40,280 So you're able to fare well. 438 00:25:40,920 --> 00:25:45,040 I don't know a single person growing in this category. 439 00:25:45,920 --> 00:25:48,920 If you can execute well, every business is worth it. 440 00:25:49,000 --> 00:25:51,520 You might encounter problems with franchising. 441 00:25:51,600 --> 00:25:53,360 Because there's pressure from the online market too. 442 00:25:53,440 --> 00:25:56,120 So, if you're not able to run it with your discipline 443 00:25:56,200 --> 00:25:58,040 then the business won't be profitable. 444 00:25:58,120 --> 00:26:00,320 The future 445 00:26:00,400 --> 00:26:04,000 won't see online and offline worlds as different. 446 00:26:05,200 --> 00:26:06,680 It will be an omnichannel. 447 00:26:14,040 --> 00:26:16,720 Because if I become a partner 448 00:26:16,800 --> 00:26:19,800 then I would want you to launch the KITSONS website. 449 00:26:19,920 --> 00:26:22,400 - May I intervene? - Yes, sure. 450 00:26:22,400 --> 00:26:23,440 Due apologies. 451 00:26:23,720 --> 00:26:25,640 I'm not venturing into the online market because 452 00:26:25,720 --> 00:26:27,880 it's beyond me. 453 00:26:28,000 --> 00:26:30,000 I don't want to get into something that I'm not good at. 454 00:26:30,120 --> 00:26:32,520 But you have young sons to help you out. 455 00:26:32,600 --> 00:26:34,080 [music playing] 456 00:26:35,000 --> 00:26:37,360 You're aware that online is the future. 457 00:26:37,440 --> 00:26:39,840 You also admit that you can't do it on your own. 458 00:26:41,720 --> 00:26:44,880 Your skills are limited to this. 459 00:26:45,000 --> 00:26:47,120 You can expand it to 20-30 stores. 460 00:26:47,200 --> 00:26:48,400 Who will take it forward? 461 00:26:48,480 --> 00:26:50,240 [music playing] 462 00:26:50,320 --> 00:26:51,600 We need somebody. 463 00:26:52,200 --> 00:26:55,480 Colonel, the problem is that I can't do it for you. 464 00:26:55,600 --> 00:26:56,760 [music playing] 465 00:26:57,800 --> 00:26:59,320 Your boys are so far 466 00:26:59,400 --> 00:27:02,760 not yet ready to expand the business. 467 00:27:04,440 --> 00:27:05,800 One of them is doing a part-time job. 468 00:27:06,040 --> 00:27:07,600 The other one is focused on purchasing. 469 00:27:08,840 --> 00:27:12,000 There's no demonstration yet 470 00:27:12,120 --> 00:27:14,760 that they can scale up the business or take it online. 471 00:27:14,880 --> 00:27:16,240 [music playing] 472 00:27:17,320 --> 00:27:20,680 It's not easy to earn a profit of 2 crores each year. 473 00:27:20,760 --> 00:27:21,960 [music playing] 474 00:27:22,080 --> 00:27:23,520 So, I congratulate you on that. 475 00:27:23,600 --> 00:27:26,600 I don't know how to calculate the valuation 476 00:27:26,680 --> 00:27:29,160 to meet your demands. 477 00:27:29,240 --> 00:27:32,200 So, I have to be out. Wish you all the best! 478 00:27:33,720 --> 00:27:35,280 I'm glad that you're from the Army. 479 00:27:35,480 --> 00:27:38,160 You started a shop. It's not easy because you 480 00:27:38,240 --> 00:27:41,360 have no business experience. You were from a service background. 481 00:27:42,280 --> 00:27:43,760 It must've been tough to manage the first shop. Right? 482 00:27:43,840 --> 00:27:45,560 - No, I didn't feel so. - Why? 483 00:27:45,640 --> 00:27:46,640 I enjoyed it. 484 00:27:47,600 --> 00:27:48,920 I still enjoy it. 485 00:27:49,960 --> 00:27:51,160 How much money did you invest in your shop? 486 00:27:51,240 --> 00:27:52,600 42 lakhs. 487 00:27:52,680 --> 00:27:55,760 I used 35 lakhs from my retirement benefits. 488 00:27:55,840 --> 00:27:57,600 - Wow! - Wow! 489 00:27:59,600 --> 00:28:02,440 You spent 42 lakhs to start a business in 2010. 490 00:28:02,520 --> 00:28:04,280 How much will it cost to open a shop now? 491 00:28:04,360 --> 00:28:05,560 Around 70 lakhs. 492 00:28:05,640 --> 00:28:07,240 Do you invest your money or take loans? 493 00:28:07,320 --> 00:28:10,120 No, I generated it and continued reinvesting it. 494 00:28:10,240 --> 00:28:12,560 I have never borrowed a rupee. 495 00:28:12,680 --> 00:28:14,960 It is all because of us, KITSONS. 496 00:28:15,080 --> 00:28:18,320 I got it. I'm very proud of you. 497 00:28:18,600 --> 00:28:21,760 I'm not too proud of your sons, sir. Sorry to say. 498 00:28:21,840 --> 00:28:23,160 [music playing] 499 00:28:24,000 --> 00:28:26,840 I wish that they contributed more 500 00:28:26,920 --> 00:28:30,400 and would've answered our questions, instead of you. 501 00:28:30,560 --> 00:28:32,440 I wish they had more answers. 502 00:28:33,880 --> 00:28:35,120 They would've known 503 00:28:35,200 --> 00:28:36,600 what's right and what's not. 504 00:28:36,680 --> 00:28:39,280 They would've known what valuation to quote. 505 00:28:41,760 --> 00:28:43,520 My recommendation to 506 00:28:43,600 --> 00:28:46,320 both of you would be to take it up from him, 507 00:28:48,320 --> 00:28:49,920 learn what he has given you 508 00:28:50,000 --> 00:28:53,480 and make your father proud in taking it to the next level. 509 00:28:54,520 --> 00:28:56,440 I speak more because 510 00:28:56,520 --> 00:28:59,000 I built it from scratch, including mopping the place. 511 00:28:59,080 --> 00:29:01,120 It's a respect towards your parents. 512 00:29:01,200 --> 00:29:03,080 It's good to not speak a lot in front of them. 513 00:29:03,160 --> 00:29:05,880 - But they also become more active. - I understand. 514 00:29:05,960 --> 00:29:07,480 Then it shows like a family business. 515 00:29:07,600 --> 00:29:09,080 Right now, it feels like 516 00:29:09,160 --> 00:29:12,960 you have a vision that they're not yet ready to fulfil. 517 00:29:13,360 --> 00:29:15,200 [music playing] 518 00:29:17,120 --> 00:29:20,960 So, for all these reasons, we're out too. 519 00:29:21,120 --> 00:29:24,360 So, all of us are out, unfortunately. 520 00:29:24,480 --> 00:29:26,080 No problem, sir. 521 00:29:26,360 --> 00:29:29,840 Probably, we will be back in season 3. 522 00:29:29,840 --> 00:29:30,680 Yes. 523 00:29:31,000 --> 00:29:32,320 I hope to prove you wrong. 524 00:29:32,440 --> 00:29:33,480 - Thank you, sir. - Okay. 525 00:29:33,560 --> 00:29:34,480 - Thanks for your time. - Thank you. 526 00:29:34,600 --> 00:29:35,960 - Greetings! All the best! - Thank you. 527 00:29:36,080 --> 00:29:38,160 [music playing] 528 00:29:40,800 --> 00:29:43,000 [music playing] 529 00:29:56,880 --> 00:30:00,040 Hi, Sharks. People tried hard to survive the pandemic. 530 00:30:00,160 --> 00:30:03,760 Some were working from home, while some were banging dishes. 531 00:30:03,840 --> 00:30:06,240 We were helpless and worried. 532 00:30:06,360 --> 00:30:08,480 Because London Bubble Co.'s 533 00:30:08,560 --> 00:30:12,720 126 established dessert cafes were shut down. 534 00:30:20,800 --> 00:30:23,200 and 8000 kilograms of chocolate. 535 00:30:24,360 --> 00:30:27,360 And that pushed me to the edge. 536 00:30:27,440 --> 00:30:29,600 [laughs] 537 00:30:29,680 --> 00:30:32,400 The next day, I got an idea. 538 00:30:32,480 --> 00:30:34,880 [vocalizing] 539 00:30:37,360 --> 00:30:39,400 And we reinvented our brand. 540 00:30:39,480 --> 00:30:42,160 We launched the 2.0 version of London Bubble Co. 541 00:30:44,040 --> 00:30:46,520 And we brought our cafe to your house. 542 00:30:51,680 --> 00:30:54,520 It makes your house continental. 543 00:30:54,600 --> 00:30:56,360 [music playing] 544 00:31:06,560 --> 00:31:08,680 Tear, mix, and cook it. 545 00:31:08,760 --> 00:31:10,480 Oh! That reminds me. 546 00:31:10,560 --> 00:31:13,040 Are we bored 547 00:31:13,120 --> 00:31:15,000 of the usual savoury snacks? 548 00:31:15,080 --> 00:31:17,280 So, we're brought a range of sweet savouries. 549 00:31:17,360 --> 00:31:19,160 Waffle chips. 550 00:31:34,040 --> 00:31:36,760 Do you know what's more exciting, Sharks? 551 00:31:36,880 --> 00:31:40,440 All our products are 100% vegetarian. 552 00:31:52,240 --> 00:31:54,200 the biggest company in the sweet savoury category. 553 00:31:54,280 --> 00:31:55,800 So, we're asking for 554 00:32:04,440 --> 00:32:06,880 And let me share a personal story with you. 555 00:32:16,680 --> 00:32:18,240 eat breakfast together. 556 00:32:18,320 --> 00:32:20,680 And I'm very Indian. I like poha, upma, 557 00:32:20,760 --> 00:32:22,960 dosa in my breakfast. 558 00:32:23,040 --> 00:32:24,480 But my sons 559 00:32:24,560 --> 00:32:28,400 want waffles and pancakes every Sunday. 560 00:32:28,480 --> 00:32:29,320 - Wow! - Amazing. 561 00:32:29,400 --> 00:32:32,960 And like you just said, whipped cream, spreads, 562 00:32:33,040 --> 00:32:34,240 fruit on top. 563 00:32:34,320 --> 00:32:38,240 I mean the way they decorate their waffle and pancake. 564 00:32:40,160 --> 00:32:42,400 Some of my best memories as a parent 565 00:32:42,520 --> 00:32:45,560 are associated with the waffles and pancakes. 566 00:32:45,680 --> 00:32:47,960 - Yes. - So, your pitch 567 00:32:48,040 --> 00:32:49,960 brought a big smile to my face. 568 00:32:50,560 --> 00:32:52,320 Thank you. 569 00:32:52,400 --> 00:32:53,880 Negotiate your valuation. 570 00:32:53,960 --> 00:32:56,120 [laughs] 571 00:32:58,600 --> 00:33:00,760 I felt that she was about to make an offer. 572 00:33:03,200 --> 00:33:06,200 - 126 cafes. - Yes. 573 00:33:06,280 --> 00:33:08,040 How did you shut it down? 574 00:33:08,120 --> 00:33:11,040 What happened to the franchisees and manpower? 575 00:33:11,120 --> 00:33:13,360 We had 292 employees. 576 00:33:13,440 --> 00:33:15,760 They were working across 126 stores. 577 00:33:15,840 --> 00:33:17,400 Plus the rent was high 578 00:33:17,480 --> 00:33:20,520 and the landlords weren't ready to reduce the rent. 579 00:33:20,640 --> 00:33:22,160 [sweeping music] 580 00:33:22,240 --> 00:33:26,240 All these things took a toll on us and we decided to lose. 581 00:33:26,320 --> 00:33:28,680 We asked the franchise owners 582 00:33:28,760 --> 00:33:32,360 that we'd go for stop-loss and start closing the stores. 583 00:33:32,480 --> 00:33:34,600 [sweeping music] 584 00:33:34,680 --> 00:33:36,520 When did you decide 585 00:33:36,600 --> 00:33:39,440 to pivot your product from cafes 586 00:33:39,520 --> 00:33:43,080 and present a continental feel to India? 587 00:33:43,160 --> 00:33:46,360 During the lockdown, we had 30,000 kg of flour with us. 588 00:33:46,440 --> 00:33:49,080 We could either sell our products 589 00:33:49,200 --> 00:33:50,720 but the cafes were closed 590 00:33:58,240 --> 00:33:59,680 Thanks to our government 591 00:33:59,760 --> 00:34:02,040 for declaring packaging as an essential category. 592 00:34:02,160 --> 00:34:03,440 Packaging was already in the process 593 00:34:03,520 --> 00:34:05,320 so we sent our design to the packaging team 594 00:34:05,400 --> 00:34:07,760 and we received these small packets within 25 days. 595 00:34:07,840 --> 00:34:09,560 [upbeat music] 596 00:34:09,640 --> 00:34:13,360 We hired labourers on daily wages and started packing items. 597 00:34:13,440 --> 00:34:15,400 We approached modern trade outlets 598 00:34:21,960 --> 00:34:24,160 Darshan, what's your age? 599 00:34:24,240 --> 00:34:25,440 Sir, I'm 31 years old. 600 00:34:25,560 --> 00:34:26,920 - What about you? - 30! 601 00:34:27,000 --> 00:34:29,960 How come you opened around 150 stores 602 00:34:30,280 --> 00:34:32,440 at such a young age? 603 00:34:32,520 --> 00:34:34,000 How many years did you spend? 604 00:34:34,120 --> 00:34:37,080 How did you start? And why did you start? There must be a story. 605 00:34:37,360 --> 00:34:39,680 - I studied at Cardiff University. - Okay. 606 00:34:39,760 --> 00:34:42,600 When we visit London's Oxford Street and other such places, 607 00:34:42,680 --> 00:34:45,920 we get waffles as binge-eating snacks. 608 00:34:47,440 --> 00:34:50,640 Both of us were passionate about food. 609 00:34:50,720 --> 00:34:54,200 We were planning since 2013 to start a business related to food. 610 00:34:54,280 --> 00:34:56,920 Ultimately, we conceived the concept of the London Bubble Co. 611 00:34:57,040 --> 00:34:58,880 [dreamy music] 612 00:34:58,960 --> 00:35:00,760 How do you two know each other? 613 00:35:00,840 --> 00:35:02,560 We two used to live in a tenement. 614 00:35:02,640 --> 00:35:04,400 We were born there. 615 00:35:04,480 --> 00:35:06,280 - You two were raised in a tenement! - Yes, sir. 616 00:35:06,920 --> 00:35:09,920 - Very good! - And you went on to get admission to Cardiff. Fabulous! 617 00:35:10,520 --> 00:35:14,000 - Sir, my dad told me something about a rocket. - Okay. 618 00:35:14,080 --> 00:35:17,200 Why does it go up? It's propelled by the fire at its base. 619 00:35:17,280 --> 00:35:19,280 Amazing! Well said. 620 00:35:19,400 --> 00:35:22,280 - I'll note it down. It's something to remember. - Very nice! 621 00:35:22,360 --> 00:35:25,200 Aman, I give franchises so I could charge a royalty. 622 00:35:25,280 --> 00:35:27,360 [guffawing] 623 00:35:27,440 --> 00:35:29,840 You are a true entrepreneur. A true entrepreneur. 624 00:35:29,920 --> 00:35:32,720 The way you turned around your business during Covid 625 00:35:32,800 --> 00:35:34,280 is an important skill set 626 00:35:34,360 --> 00:35:38,280 - and cultural value. You must retain it. - Sure! 627 00:35:38,360 --> 00:35:40,320 Lakhs of cafes shut down 628 00:35:40,400 --> 00:35:43,000 - during Covid. - That's right. 629 00:35:43,120 --> 00:35:47,040 I think not even 1% of those eateries 630 00:35:47,120 --> 00:35:48,840 managed to pivot their business, 631 00:35:48,960 --> 00:35:52,280 re-branded it and re-packaged it 632 00:35:52,360 --> 00:35:54,280 to scale up. Very impressive! 633 00:35:57,240 --> 00:35:59,280 [happy music] 634 00:36:00,200 --> 00:36:01,400 These are fresh pancakes. 635 00:36:01,520 --> 00:36:04,840 - Wow! - It's Orange Kitkat Spread and this is Dark Bounty Spread. 636 00:36:04,920 --> 00:36:06,800 It's dark waffle chips 637 00:36:06,880 --> 00:36:08,080 and these are classic waffle chips. 638 00:36:08,160 --> 00:36:11,720 - So these two and both these are available in packet forms. - Yes! 639 00:36:11,800 --> 00:36:12,960 - These are available in both formats. - These are... 640 00:36:13,040 --> 00:36:15,440 So it can be made with the batter. 641 00:36:19,000 --> 00:36:20,520 Pancake is yummy. 642 00:36:20,600 --> 00:36:22,400 Fantastic! Thank you, guys! 643 00:36:22,480 --> 00:36:23,560 - Thank you! - Thank you, Anupam! 644 00:36:23,680 --> 00:36:26,640 - I ate just one, but she ate all of them. - Yes! 645 00:36:30,560 --> 00:36:33,720 The way Betty Crocker desserts are made. No effort is added. 646 00:36:34,120 --> 00:36:35,280 Nothing. 647 00:36:36,600 --> 00:36:40,560 'These are our delicious, Pancake and Waffle Premixes.' 648 00:36:40,640 --> 00:36:42,520 'If you want to make pancakes,' 649 00:36:42,600 --> 00:36:45,240 'mix water and milk.' 650 00:36:45,360 --> 00:36:46,720 'And if you want to make waffles,' 651 00:36:46,800 --> 00:36:50,000 'you just need to mix water with this batter.' 652 00:36:50,280 --> 00:36:52,360 'First, empty the packet of batter.' 653 00:36:52,720 --> 00:36:55,120 'Then add water to it.' 654 00:36:56,680 --> 00:36:59,680 'And then add milk which is half the quantity of water.' 655 00:36:59,760 --> 00:37:01,880 [thrilling music] 656 00:37:02,000 --> 00:37:04,400 'Mix it evenly so that not a single lump' 657 00:37:04,480 --> 00:37:06,520 'is seen in the batter.' 658 00:37:06,640 --> 00:37:09,960 'Then pour the batter on a preheated pan' 659 00:37:10,360 --> 00:37:12,720 'and give it a bake-time of two minutes.' 660 00:37:13,880 --> 00:37:16,640 'When you see bubble formation on the pancake,' 661 00:37:16,720 --> 00:37:18,200 'the pancake is ready.' 662 00:37:18,280 --> 00:37:21,600 'Use a spatula to turn it over.' 663 00:37:22,000 --> 00:37:25,840 'Heat it for just one more minute and then remove it from the heat.' 664 00:37:27,720 --> 00:37:29,360 'You may garnish it' 665 00:37:29,440 --> 00:37:31,320 'using chocolate chips, chocolate syrup,' 666 00:37:31,400 --> 00:37:34,440 'maple syrup, Nutella and sprinklers.' 667 00:37:34,520 --> 00:37:36,800 'Your delicious, yummy' 668 00:37:36,880 --> 00:37:39,720 'and delectable pancake is ready.' 669 00:37:41,320 --> 00:37:42,920 I have a simple question. 670 00:37:49,040 --> 00:37:51,160 The Indian diet... 671 00:37:51,440 --> 00:37:54,800 She lived in the US for eight years 672 00:37:54,920 --> 00:37:57,320 but according to the Indian diet, 673 00:37:57,400 --> 00:38:00,160 we can't eat waffles as breakfast generally. 674 00:38:00,280 --> 00:38:02,440 [suspenseful music] 675 00:38:02,520 --> 00:38:05,880 These products can be eaten for breakfast or as snacks. 676 00:38:06,720 --> 00:38:09,720 People normally eat Maggi Noodles when they are hungry in the evening. 677 00:38:09,800 --> 00:38:13,400 Similarly, Pancake Premixes can be used to make pancakes instantly. 678 00:38:14,400 --> 00:38:16,240 It's not difficult to make it. 679 00:38:16,320 --> 00:38:18,560 So it can be used as a snack 680 00:38:18,680 --> 00:38:19,840 anywhere and at any time. 681 00:38:19,960 --> 00:38:21,600 So you think that pancakes will become 682 00:38:21,680 --> 00:38:23,960 our staple diet for breakfast? 683 00:38:24,040 --> 00:38:26,600 Definitely, people will prefer them 684 00:38:26,680 --> 00:38:28,400 - for breakfast and snacks. - I want to ask one more thing. 685 00:38:28,520 --> 00:38:30,240 We were at our friend's place 686 00:38:30,320 --> 00:38:32,640 and my daughter ordered mini-pancakes. 687 00:38:32,720 --> 00:38:35,280 Her mom said, "please don't eat more than three." 688 00:38:35,880 --> 00:38:37,320 I asked, "Why not?" 689 00:38:37,400 --> 00:38:39,120 She answered, "it isn't healthy." 690 00:38:39,200 --> 00:38:40,840 [sweeping music] 691 00:38:41,360 --> 00:38:42,520 Is it true 692 00:38:42,600 --> 00:38:44,920 that people don't consider pancakes to be healthy? 693 00:38:45,920 --> 00:38:47,960 Mothers often say this 694 00:38:48,040 --> 00:38:51,440 - as children may get a blood sugar spike if they overeat. - Correct! 695 00:39:02,360 --> 00:39:05,200 He insists on eating pancakes every morning which contain syrup too. 696 00:39:05,320 --> 00:39:06,320 It's really unhealthy! 697 00:39:07,560 --> 00:39:09,120 I know he wants it daily 698 00:39:09,200 --> 00:39:11,960 as the trend is changing but it's surely unhealthy. 699 00:39:12,800 --> 00:39:14,680 I have gluten-free oats 700 00:39:14,760 --> 00:39:17,280 and multigrain batter too. 701 00:39:17,360 --> 00:39:18,720 I'd launch them in future. 702 00:39:22,480 --> 00:39:25,320 Focus on the taste and educate the masses. 703 00:39:25,400 --> 00:39:27,200 - Right! - Please don't be distracted by health issues. 704 00:39:27,320 --> 00:39:29,080 Not everything needs to be healthy. 705 00:39:29,160 --> 00:39:31,320 People have a choice whether they want to eat or not. 706 00:39:33,240 --> 00:39:34,400 Please share your sales figures. 707 00:39:34,520 --> 00:39:36,600 Last month, we made sales of Rs. 11 lakhs. 708 00:39:36,680 --> 00:39:38,040 Where did you sell? 709 00:39:38,120 --> 00:39:40,160 Sir, we sold through our distributor channel. 710 00:39:40,240 --> 00:39:41,840 Like Mumbai, Gujarat, 711 00:39:41,960 --> 00:39:43,720 Kolkata and Bengaluru. 712 00:39:43,840 --> 00:39:47,000 Why are the sales low when you are available in 800 stores? 713 00:39:47,080 --> 00:39:48,880 [tense music] 714 00:39:49,680 --> 00:39:52,280 Three to four months ago 715 00:39:52,400 --> 00:39:55,960 we realised that our brand is an established brand. 716 00:39:57,000 --> 00:39:58,680 So we introduced automation 717 00:39:58,760 --> 00:40:01,960 into our factory to maintain it in a better way. 718 00:40:02,040 --> 00:40:04,480 We modified our concentration 719 00:40:04,560 --> 00:40:06,720 so that our sales orders could move faster. 720 00:40:07,760 --> 00:40:09,440 A big distributor in the southern region 721 00:40:09,520 --> 00:40:13,040 wanted our product but his first order 722 00:40:13,120 --> 00:40:15,320 was worth Rs. 30 lakhs. 723 00:40:16,720 --> 00:40:20,400 We didn't have the support system to deliver an order worth Rs. 30 lakhs. 724 00:40:29,000 --> 00:40:31,080 to strengthen our back-end support 725 00:40:31,200 --> 00:40:32,320 instead of increasing our sales. 726 00:40:32,400 --> 00:40:34,360 Now that our manufacturing is strong, our focus 727 00:40:34,480 --> 00:40:39,120 for the next 6 months is sales as we aren't worried about production. 728 00:40:39,560 --> 00:40:42,160 Our capacity used to be 2,000 packets per day. 729 00:40:42,240 --> 00:40:46,080 We have now enhanced it to 45,000 packets per day. 730 00:42:01,000 --> 00:42:02,920 I think pancakes and waffles 731 00:42:03,000 --> 00:42:04,800 are a growing market. 732 00:42:04,880 --> 00:42:06,960 It's loved by children nowadays. 733 00:42:07,040 --> 00:42:10,680 Somehow, your story appears to be 734 00:42:10,800 --> 00:42:12,680 imaginary and there is a lack of transparency. 735 00:42:12,760 --> 00:42:15,200 I don't have a conviction. 736 00:42:15,280 --> 00:42:16,480 [suspenseful music] I'm out. 737 00:42:18,400 --> 00:42:20,200 If you want to market this product 738 00:42:20,280 --> 00:42:23,480 to the masses and promote eating waffles 739 00:42:23,560 --> 00:42:26,600 and pancakes at home, 740 00:42:26,840 --> 00:42:29,480 how will you educate the masses? 741 00:42:29,560 --> 00:42:32,640 We will develop a marketing strategy 742 00:42:32,760 --> 00:42:34,680 and use social media, television ads 743 00:42:34,760 --> 00:42:39,000 and posters to tell them that it can be given to children in lunch-boxes. 744 00:42:39,080 --> 00:42:41,960 One may eat pancakes in the evening instead of noodles. 745 00:42:42,040 --> 00:42:44,400 - Convenience too. We just need to add water. - Yes. That's right. 746 00:42:44,480 --> 00:42:46,440 The consumer must realise how easily it can be prepared. 747 00:42:46,560 --> 00:42:48,320 - Will you be able to do it? - Yes. 748 00:42:48,400 --> 00:42:49,760 - Are you confident? - Yes. 749 00:42:49,880 --> 00:42:51,800 So I'll give you an offer. 750 00:42:53,760 --> 00:42:55,640 You might not be confident but she is confident. 751 00:42:55,760 --> 00:42:58,320 I'm confident that we can 752 00:42:58,440 --> 00:43:00,400 grow your business together. 753 00:43:00,480 --> 00:43:03,160 Because I feel that India is ready for it. 754 00:43:03,240 --> 00:43:05,880 Let's not bring up the health angle. 755 00:43:05,960 --> 00:43:10,160 We can dominate the market in the indulgent food category. 756 00:43:10,280 --> 00:43:13,640 Your sales are Rs. 1 crore. Right? 757 00:43:13,720 --> 00:43:17,560 The valuation considered is 3 to 5 times the sales in the D2C segment. 758 00:43:17,640 --> 00:43:20,280 So I'll give you the upper limit which is five times your sales. 759 00:43:21,040 --> 00:43:22,160 - Wow! - Wow! 760 00:43:22,240 --> 00:43:23,760 Wow! 761 00:43:23,840 --> 00:43:25,760 I'll give you a valuation of Rs. 5 crores. 762 00:43:25,840 --> 00:43:27,880 So my offer is Rs. 75 lakhs 763 00:43:34,920 --> 00:43:37,840 have been working together for so many years 764 00:43:37,960 --> 00:43:39,480 so you are surely perseverant 765 00:43:43,480 --> 00:43:45,600 Rs. 11 lakh sales are too low. 766 00:43:46,880 --> 00:43:50,720 Something is surely holding you back. 767 00:43:51,360 --> 00:43:52,840 Please reflect upon it. 768 00:43:52,920 --> 00:43:54,640 I wish you the best. 769 00:43:55,600 --> 00:43:56,520 I'm out. 770 00:43:58,560 --> 00:44:00,720 As entrepreneurs, you two are strong 771 00:44:00,800 --> 00:44:02,440 but I don't think 772 00:44:02,520 --> 00:44:05,600 that it'd become a regular breakfast item in future. 773 00:44:06,280 --> 00:44:07,920 - So I'm out. - Alright. 774 00:44:12,480 --> 00:44:15,920 you have agility too as you turned around the business during Covid. 775 00:44:16,000 --> 00:44:18,880 You two have the fire in you and you are problem-solvers too. 776 00:44:18,960 --> 00:44:20,120 You'll surely grow your business. 777 00:44:21,320 --> 00:44:24,760 The offer given to you by Namita is a rich one. 778 00:44:24,840 --> 00:44:28,160 I can't match her valuation even if I try. 779 00:44:28,440 --> 00:44:30,240 So I'm out. 780 00:44:31,720 --> 00:44:33,640 My cheque is ready. Please decide quickly. 781 00:44:33,720 --> 00:44:36,000 [clock ticking] 782 00:44:37,520 --> 00:44:39,120 Accept it! 783 00:44:42,360 --> 00:44:45,960 Namita, we are ready to accept your offer 784 00:44:46,040 --> 00:44:47,560 - but we... - But! 785 00:44:52,120 --> 00:44:55,080 we may explore another state and city with that money. 786 00:44:55,160 --> 00:44:58,200 Listen up. I know plenty of bankers 787 00:44:58,280 --> 00:45:01,200 and I can easily provide debt to you. 788 00:45:01,720 --> 00:45:03,440 I'll get debt sanctioned to you 789 00:45:03,520 --> 00:45:05,000 but first, let's finish this. 790 00:45:06,120 --> 00:45:09,520 We can discuss those things once we become part 791 00:45:09,640 --> 00:45:11,720 of the London Bubble Co family. 792 00:45:12,280 --> 00:45:13,600 - Shall we? - Yes! 793 00:45:13,720 --> 00:45:14,640 Alright, we accept the offer. 794 00:45:23,240 --> 00:45:25,120 Rs. 11 lakh sales won't suffice. 795 00:45:25,200 --> 00:45:28,360 [vocalising] 796 00:45:29,080 --> 00:45:31,040 London Bubble Co! [vocalising] 797 00:45:32,080 --> 00:45:34,000 Well done, guys! Best of luck. I wish you the best. 798 00:45:34,120 --> 00:45:36,440 [vocalising] 799 00:47:47,400 --> 00:47:49,640 [ethereal music] 800 00:47:57,920 --> 00:48:00,840 [ethereal music] 801 00:48:04,320 --> 00:48:06,680 Everyone likes ice cream. 802 00:48:06,960 --> 00:48:10,280 Whenever I sit with my tub of ice cream to eat it, 803 00:48:10,360 --> 00:48:14,040 Tyra makes a cute face and sits before me. 804 00:48:15,600 --> 00:48:18,120 Sharks, you must be wondering who Tyra is. 805 00:48:18,200 --> 00:48:21,960 Tyra is my cute, fur baby puppy. 806 00:48:22,760 --> 00:48:24,120 She sits before me, 807 00:48:24,200 --> 00:48:26,840 makes cute faces, drools 808 00:48:26,920 --> 00:48:30,160 and paws me to get my ice cream. 809 00:48:31,120 --> 00:48:32,720 When I came to know 810 00:48:32,800 --> 00:48:34,440 that dogs aren't allowed 811 00:48:34,520 --> 00:48:36,400 to eat milk, sugar, colour and essence, 812 00:48:36,520 --> 00:48:38,960 I thought that my Tyra 813 00:48:39,040 --> 00:48:41,720 must get the happiness of eating ice creams 814 00:48:41,800 --> 00:48:44,040 the way everyone else enjoys it. 815 00:48:50,720 --> 00:48:53,720 We make ice cream premix powders for dogs. 816 00:48:59,760 --> 00:49:01,680 The pet parent may feed fresh ice creams to their pet 817 00:49:01,800 --> 00:49:04,200 anywhere and at any time. 818 00:49:05,960 --> 00:49:06,720 Very good. 819 00:49:06,800 --> 00:49:09,000 It's made of coconut milk powder 820 00:49:27,160 --> 00:49:30,240 with the help of Waggy Zone. 821 00:49:30,320 --> 00:49:31,560 We want every dog 822 00:49:31,640 --> 00:49:35,440 in the world to eat Waggy Zone ice creams and wag its tail. 823 00:49:35,560 --> 00:49:37,440 [laughing] 824 00:49:37,800 --> 00:49:39,800 So my ask is 825 00:49:47,080 --> 00:49:49,640 Anupam is allergic to milk just like dogs. 826 00:49:50,360 --> 00:49:52,240 Your target market expanded just now. 827 00:49:54,600 --> 00:49:56,880 - Darshan, welcome to Shark Tank. - Thank you! 828 00:50:09,560 --> 00:50:12,400 So, the entrepreneurship journey 829 00:50:12,480 --> 00:50:14,800 that you've embarked upon. What were you doing earlier? 830 00:50:14,880 --> 00:50:15,960 Which city are you from? 831 00:50:15,960 --> 00:50:17,720 What's your educational qualification? 832 00:50:18,240 --> 00:50:20,640 I'm from Mumbai. My father owns an ice cream factory. 833 00:50:20,760 --> 00:50:22,400 Okay. 834 00:50:22,480 --> 00:50:25,760 - Now, I get it. - I was working with my dad. 835 00:50:25,880 --> 00:50:27,480 Is it a known brand? 836 00:50:27,560 --> 00:50:30,680 - No, we do B2B sales. - OEM. 837 00:50:34,880 --> 00:50:36,560 - So, rich dad. - Yes. 838 00:50:38,440 --> 00:50:39,920 Coming from a background of ice creams, 839 00:50:40,040 --> 00:50:41,760 I realised that 840 00:50:41,840 --> 00:50:43,640 we go to veterinarians 841 00:50:43,720 --> 00:50:45,640 so during the months of October, 842 00:50:45,760 --> 00:50:47,120 and other months 843 00:50:47,200 --> 00:50:51,200 when there are seasonal changes, dogs stop eating well. 844 00:50:51,280 --> 00:50:52,680 - Or they eat less. - Hmm. 845 00:50:52,760 --> 00:50:55,120 So, the doctor used to ask us to mix it with 846 00:50:55,200 --> 00:50:56,360 vanilla ice cream and feed. 847 00:50:56,440 --> 00:50:57,920 So, once I just asked him 848 00:50:58,040 --> 00:50:59,800 that if they're not allowed to have milk and sugar 849 00:50:59,880 --> 00:51:02,040 then why is vanilla ice cream prescribed? 850 00:51:02,720 --> 00:51:05,640 So, the doctors told me that there's no option. 851 00:51:05,760 --> 00:51:09,080 And that actually calms their tummy and relieves acidity. 852 00:51:09,200 --> 00:51:10,880 It helps with the administration of medicines as well. 853 00:51:11,000 --> 00:51:12,960 So, we prescribe vanilla ice cream. 854 00:51:13,040 --> 00:51:15,120 So, that's how I actually 855 00:51:15,200 --> 00:51:18,240 for Tyra started making yoghurt options in ice cream. 856 00:51:18,320 --> 00:51:19,560 And other ice cream options. 857 00:51:19,640 --> 00:51:23,400 I don't cook generally. 858 00:51:23,480 --> 00:51:25,800 I use a lot of pre-mix powders. 859 00:51:25,880 --> 00:51:28,000 - Meet Vineeta. - Welcome to the club. 860 00:51:28,120 --> 00:51:29,160 Thank you. 861 00:51:31,120 --> 00:51:34,600 So, I decided that if everything can be available in powder-format 862 00:51:34,680 --> 00:51:37,240 then why not ice creams? 863 00:51:37,320 --> 00:51:40,560 We want to take our dogs on a travel 864 00:51:40,640 --> 00:51:42,640 and it's easier if I 865 00:51:42,760 --> 00:51:45,000 have something that I can pick on the go. 866 00:51:45,080 --> 00:51:47,080 I can just share it, give it. 867 00:51:47,160 --> 00:51:48,960 Happiness. If you want, I can show you. 868 00:51:49,040 --> 00:51:50,640 Yes, let's see the product. 869 00:51:50,720 --> 00:51:52,960 - Can humans eat it too? - Yes. 870 00:51:53,400 --> 00:51:54,240 Okay. 871 00:51:54,320 --> 00:51:55,720 Would you like to... 872 00:51:56,520 --> 00:51:58,800 - Which one is the powder? - The one in front. 873 00:51:58,880 --> 00:52:01,800 [music playing] 874 00:52:02,800 --> 00:52:04,560 Does this ice cream have chicken? 875 00:52:04,640 --> 00:52:07,560 Yes, we add pieces of chicken in the ice cream. 876 00:52:07,680 --> 00:52:10,800 Because a few say that they want 877 00:52:10,880 --> 00:52:12,320 chicken and fish pieces. 878 00:52:12,400 --> 00:52:14,880 200 rupees can't be correct, Darshan. 879 00:52:14,960 --> 00:52:17,080 Yes, it is 199 rupees. 880 00:52:19,800 --> 00:52:24,040 Why don't you sell the powder like whey protein is sold? 881 00:52:24,120 --> 00:52:26,320 Why do you sell it like this? It's expensive. 882 00:52:27,560 --> 00:52:30,240 But the concept was that 883 00:52:30,360 --> 00:52:32,800 you can tear, mix, freeze and give it to your dog 884 00:52:32,880 --> 00:52:35,680 even on a trip. You can make it anywhere. 885 00:52:36,360 --> 00:52:38,160 The market for dogs 886 00:53:09,880 --> 00:53:12,240 The entire pet market in India 887 00:53:12,360 --> 00:53:14,600 according to my knowledge, 888 00:53:14,720 --> 00:53:16,960 is between 4000 and 5000 crores. 889 00:53:17,080 --> 00:53:20,640 - In that, 60-70% is food. - Right. 890 00:53:20,720 --> 00:53:24,080 So, you're not replacing food. 891 00:53:25,200 --> 00:53:28,080 You're a treat, right? Do you agree? 892 00:53:28,200 --> 00:53:28,720 Yes. 893 00:53:30,120 --> 00:53:33,200 So, you fall in the other 30%. 894 00:53:33,280 --> 00:53:36,080 So, it's 1500 crores. 895 00:53:36,560 --> 00:53:39,080 That's it, as far as the market size is concerned. 896 00:53:39,080 --> 00:53:39,440 Right. 897 00:53:39,440 --> 00:53:42,280 And there are many established players and brands. 898 00:53:43,600 --> 00:53:47,480 You're trying to create a new category in a small market. 899 00:53:47,560 --> 00:53:49,000 - Right. - At this price point. 900 00:53:49,080 --> 00:53:51,280 - Right. - I think it's impossible. 901 00:53:51,360 --> 00:53:53,120 [music playing] 902 00:53:53,200 --> 00:53:54,960 So, we are available in 903 00:53:55,080 --> 00:53:58,440 196 pet stores in India. 904 00:53:59,360 --> 00:54:01,120 And that has given us almost, 905 00:54:01,200 --> 00:54:04,040 for this year's quarter, 906 00:54:04,120 --> 00:54:06,680 we are selling 3500 pieces per month. 907 00:54:06,800 --> 00:54:07,320 Wow. 908 00:54:07,320 --> 00:54:08,400 On average. 909 00:54:09,440 --> 00:54:12,960 We closed last year at 24 lakhs. 910 00:54:22,800 --> 00:54:26,360 We launched our website in April. 911 00:54:26,440 --> 00:54:30,360 To test how it works if we directly supply to customers. 912 00:54:31,320 --> 00:54:34,040 So, that also, uh, 913 00:54:34,120 --> 00:54:38,240 last month we made sales of 66,000. 914 00:54:43,880 --> 00:54:46,000 Post monsoon, it's off-season for us. 915 00:54:46,960 --> 00:54:49,440 So, Darshan, 916 00:54:49,560 --> 00:54:51,400 you're saying that pet parents feed 917 00:54:51,400 --> 00:54:53,640 a scoop of ice cream worth 200 rupees to their dogs. 918 00:54:53,720 --> 00:54:54,080 Yes. 919 00:54:54,080 --> 00:54:55,600 It's double the price of Magnum. 920 00:54:55,680 --> 00:54:58,320 Magnum is worth 100 rupees. This is for 200. 921 00:54:58,400 --> 00:54:59,400 [music playing] 922 00:54:59,480 --> 00:55:00,680 I'll tell you the truth. 923 00:55:00,800 --> 00:55:02,240 Mother Dairy ice creams 924 00:55:02,320 --> 00:55:04,680 are the cheapest and the best! 925 00:55:04,920 --> 00:55:05,240 Right. 926 00:55:05,240 --> 00:55:06,640 Magnum is different. 927 00:55:06,720 --> 00:55:10,920 Forget Mother Dairy, you will find vegan ice creams too. 928 00:55:12,280 --> 00:55:15,640 An ice cream worth 200 rupees. I will think twice before eating it. 929 00:55:15,720 --> 00:55:18,400 And I buy it if it's on buy one, get one free offer. 930 00:55:18,480 --> 00:55:20,120 [laughs] 931 00:55:20,200 --> 00:55:22,840 I don't eat such expensive ice creams. 932 00:55:22,920 --> 00:55:26,200 And I wouldn't want my kids to eat such expensive ice creams. 933 00:55:26,880 --> 00:55:28,440 You're telling me that pet parent 934 00:55:28,440 --> 00:55:30,480 feed ice creams worth 200 rupees to their pets. 935 00:55:31,920 --> 00:55:36,400 Yes, they do. Last year, we sold 35,000 pieces. 936 00:55:36,480 --> 00:55:39,040 [music playing] 937 00:55:39,640 --> 00:55:41,040 What's your margin in this? 938 00:55:41,120 --> 00:55:43,480 Sir, the gross margin 939 00:55:43,560 --> 00:55:45,800 that is, after the production cost 940 00:55:45,880 --> 00:55:49,640 my margin, if I sell through retail sections 941 00:56:20,920 --> 00:56:22,280 I'm out because 942 00:56:22,360 --> 00:56:25,640 the TAM is small and the price is too high. 943 00:56:27,160 --> 00:56:29,080 - But, all the best. - Thank you. 944 00:56:29,160 --> 00:56:31,520 Look, Darshan, I'm out. 945 00:56:31,960 --> 00:56:35,760 As I said earlier, I can't digest ice cream worth 200 rupees. 946 00:56:36,200 --> 00:56:38,360 Whether it's for me or my pet. 947 00:56:38,440 --> 00:56:40,040 All the best! Keep smiling. 948 00:56:40,120 --> 00:56:41,880 [music playing] 949 00:56:41,960 --> 00:56:44,160 Darshan, explain to me 950 00:56:44,240 --> 00:56:45,960 where the business lies in this. 951 00:56:47,680 --> 00:56:49,320 I don't see any business. 952 00:56:49,400 --> 00:56:50,760 I just see passion. 953 00:56:52,240 --> 00:56:54,480 Your father had an ice cream factory. 954 00:56:54,560 --> 00:56:56,760 You had some understanding of the business. 955 00:56:56,880 --> 00:56:58,720 Your dog asked you for an ice cream 956 00:56:58,720 --> 00:56:59,720 and you couldn't give it. 957 00:56:59,800 --> 00:57:01,280 So, you created ice cream. 958 00:57:02,560 --> 00:57:06,200 Earning 1 lakh a month is not business. 959 00:57:06,840 --> 00:57:08,400 And it's such a small market. 960 00:57:08,480 --> 00:57:11,480 How will you build a business? I'm struggling with this. 961 00:57:12,560 --> 00:57:14,920 You're saying that sales worth a lakh 962 00:57:15,000 --> 00:57:16,840 is not a business because 963 00:57:16,960 --> 00:57:19,040 this year, we have identified 964 00:57:19,120 --> 00:57:21,040 that the ice cream is a hit. 965 00:57:21,120 --> 00:57:24,720 Pet parents like ice cream and dogs are eating it. 966 00:57:24,800 --> 00:57:27,280 Look, stories can justify any business. 967 00:57:27,360 --> 00:57:28,560 [music playing] 968 00:57:28,640 --> 00:57:31,680 You stated a valuation of 10 crores. What does it mean? 969 00:57:31,760 --> 00:57:34,280 It means that you will build a business worth 100 crores 970 00:57:34,360 --> 00:57:36,400 to return our money. How is that possible? 971 00:57:37,840 --> 00:57:40,160 So, as I mentioned, 972 00:57:40,240 --> 00:57:43,760 even now, we're only in 200 stores. 973 00:57:43,880 --> 00:57:46,840 - But during seasons... - Okay, let's say 25 lakhs. 974 00:57:46,920 --> 00:57:48,160 Let's assume. 975 00:57:48,240 --> 00:57:50,960 Yet, where is the business, Darshan? You're not getting me. 976 00:57:52,000 --> 00:57:53,960 So, I will repeat. 977 00:57:54,040 --> 00:57:55,640 It's just passion. 978 00:57:56,320 --> 00:57:58,920 You're out of touch with ground realities. 979 00:58:00,720 --> 00:58:02,560 Try to understand India. 980 00:58:02,680 --> 00:58:04,320 Most people in India, 981 00:58:04,400 --> 00:58:06,480 pet parents make food at home and feed their dogs. 982 00:58:06,560 --> 00:58:09,240 - Right. - You're talking about ice creams. 983 00:58:10,200 --> 00:58:13,080 So, you need to reflect on this. Good luck to you! I'm out. 984 00:58:13,800 --> 00:58:14,600 Thank you. 985 00:58:14,680 --> 00:58:17,080 So, Darshan, I'm out of this. 986 00:58:18,640 --> 00:58:21,680 I have a similar suggestion. Reduce the price point. 987 00:58:21,760 --> 00:58:24,280 I think the making cost of this cup 988 00:58:24,360 --> 00:58:26,760 is around 10-12 rupees, if not more. 989 00:58:26,760 --> 00:58:27,240 Okay. 990 00:58:27,360 --> 00:58:31,200 Instead, if you can sell it in paper bags 991 00:58:31,280 --> 00:58:34,640 where each serving must not be more than 30-40 rupees. 992 00:58:35,720 --> 00:58:37,920 Then it can become a daily treat. 993 00:58:38,000 --> 00:58:39,640 And build a habit too. 994 00:58:39,720 --> 00:58:42,560 Right now, it's niche and very expensive. 995 00:58:42,680 --> 00:58:44,480 It's for the rich. 996 00:58:45,240 --> 00:58:46,960 And the market is currently limited. 997 00:58:47,040 --> 00:58:49,040 So, think about it. For now, I'm out. 998 00:58:49,120 --> 00:58:50,880 [music playing] 999 00:58:51,000 --> 00:58:54,840 Look, I think it has a greater scope in the global markets. 1000 00:58:56,520 --> 00:58:59,760 And all the international players 1001 00:58:59,840 --> 00:59:01,360 will be priced more than you. 1002 00:59:01,480 --> 00:59:03,320 And the global market can be big. 1003 00:59:03,320 --> 00:59:03,800 Right. 1004 00:59:03,800 --> 00:59:06,440 So, I think you should explore that route. 1005 00:59:07,080 --> 00:59:09,480 In India, you will have to reduce the price and the market is small. 1006 00:59:09,560 --> 00:59:12,120 You won't be able to build a big business here. 1007 00:59:13,000 --> 00:59:15,720 So, I'm out because it's at an early stage. 1008 00:59:16,200 --> 00:59:17,520 - Thank you. - Okay. 1009 00:59:17,600 --> 00:59:19,200 Best of luck, Darshan! 1010 00:59:19,280 --> 00:59:21,160 Love your passion for the category. 1011 00:59:21,240 --> 00:59:22,880 Thank you so much. 1012 00:59:22,960 --> 00:59:23,800 Bye. 1013 00:59:42,840 --> 00:59:44,840 Vineeta, on SharkXperience today, 1014 00:59:44,920 --> 00:59:46,880 Janhavi from Panaji has a question for you. 1015 00:59:46,960 --> 00:59:48,760 It's a world of equality. 1016 00:59:48,840 --> 00:59:50,480 Yet, sometimes, 1017 00:59:50,600 --> 00:59:53,480 a woman entrepreneur is not taken seriously. 1018 00:59:53,560 --> 00:59:55,960 How can we deal with this?