Welcome to Shark Tank season 2.
Co-presented by Acko. Payments partner, Cashfree payments.
Ideas partner, Smallcase. Co-powered by PokerBaazi.
Money partner, Fi Money. Online food partner, Eatfit.
Eyewear partner, Lenskart.
It's time to meet pitchers, Sharks and lots of thrill and excitement.
So, let's go quickly.
Come!
'Welcome to the finale of Shark Tank India season 2.'
- '- Greetings, everyone! - Greetings, everyone!'
'I made hair extensions for girls'
'who had less money and less hair.'
'That's when Nish Hair was born.'
'I want you to attach them to Anupam's hair.'
'Please! Please, Anupam. Just a second.'
'You made me look like a joker.'
[laughing]
'Sahayatha is the world's first wheelchair'
'- which has defecation cleansing assistance. - Oh, wow!'
'We want Rs. 1.5 crores from you'
'for 0.5% equity.'
[coughing] [chuckling]
'Please share your sales figures.'
'Our lifetime sales is around Rs. 200 crores.'
- '- Well done! - Wow!'
'You are really a phenomenal entrepreneur.'
'I don't want to negotiate. Rs. 1 crore for 2%.'
'Wow!'
'He knocked out everyone.'
'I wanted all of you to fight for me.'
- '- I gave you what you wanted. - I'm also a competitor.'
- '- Is it a deal? - Is it a deal?'
[party popper pops] 'Woo-hoo!'
'A hundred... The hundredth deal!'
'How many of you want to join us'
'and build with us'
- '- SUGAR? - SUGAR!'
- '- Young India's... - Young India's...'
- '- favourite beauty brand. - Favourite beauty brand.'
'Don't expect any mercy.'
'I mean it will be the opposite of mercy today.'
[sweeping music]
Sharks, if M.S. Dhoni
played with Virat Kohli's bat,
would he have won the world cup?
If Virat Kohli played with M.S. Dhoni's bat,
would he have scored centuries?
Every batsman's body dynamics are different
and the playing style too.
Their batting positions are different too.
Sharks, you wear T-shirts that fit you
but when it comes to the cricket bat,
people go to a shop and buy a bat
with their gut feeling or according to their role model.
- Right. - Every batsman must choose a unique bat.
They must be aware of their weight, size
and most importantly their balance.
Our brand Zsportstech worked on this issue for the last three years.
- Greetings, Sharks! - Greetings!
I'm Samir Shah.
[motivational music]
Zsportstech is the only company
which provides customised bats
Offline and online.
The sensors will generate a report
which will help choose the right bat for you
and it will be a superhit.
we'd find your perfect Z-Bat.
More than 180 crore people play cricket
but most probably they use the wrong bat.
Our vision
is to provide the right bat to every cricketer
according to their body dynamic and playing style.
Sharks, our ask is
- Thank you! - Thank you, sir!
How are the two of you related?
We two are great friends.
I used to play cricket too.
Unless you are a professional cricketer.
Sharks, even if you want to buy a regular bat,
those services are also provided by us.
[ethereal music]
We sell our bats on Amazon and Flipkart in the normal fashion.
We just add more details
so that it's easier for the customer to buy.
I want to know more about your algorithm.
[sweeping music]
Sharks, this is our website. Let's click on 'let's begin'.
Sharks, does any one of you want to fill it out?
Aman, you play cricket. Do you want to fill it out?
Sure.
- What did he write? - 23.
- Oh, my! - Shall I come there?
- You may come here. - Go there so that he helps you fill.
Male?
Why did you ask this question? [chuckling]
That's absurd. [chuckling]
Sir, we will search for a bat for you suited to leather ball cricket.
Sir, when you played cricket,
- do you open or come in the middle order? - Opening, boss! Sachin!
[laughing]
Are you a defensive player,
- both or a stroke player? - A stroke player.
I think Aman will surely give you a cheque.
- EMI. - Did you play cricket
at an intermediate level or the club level?
India.
- Beginner... - Beginner!
[ethereal music]
It shows the budget.
We may select an option according to our budget.
Sharks, as you may see
that various models of bats are recommended for him.
The details of every bat are also given.
47% means
that players like Aman already visited Z-Bat Clinic.
They underwent testing and based on their data,
we'd recommend this bat 47%. If he wants to decide online,
he may do it this way.
My friend, I don't understand this.
You have some rule-based profiles.
You said you have a database of 344 players.
You matched his profile with your database and gave him a suggestion.
[suspenseful music]
The second method is crowds-based
collaborating filtering. Right?
You recommended according to the buying trend
of similar people.
Which method out of the two did you use on your website?
It's the recommendation by our algorithm.
- The three bats are recommended by our algorithm. - Alright.
And the cloud-based data
- comprises the people who underwent testing. - It's over and above it.
It's the cloud-based data of the people
who underwent physical testing at Z-Bat Clinic.
- So you combined both the recommendations to suggest. - Yes!
You haven't used complex technology.
First, let me show you a video of visitors who visit our store
- offline in Mumbai. - Okay.
[sweeping music]
It's the store belonging to us, bat-makers.
- It's a display of our bats. - Wow!
[ethereal music]
- We have two pitches here. - It appears to be a big store.
What's the area?
- It's 2,400 square feet in area. - Alright. Please continue.
It shows the journey of the customer when they check their balance.
We fit the sensor to the bat.
We attach a sensor to the bat brought by the customer too.
[sweeping music]
He physically hits in the nets.
And he gets readings.
Like bat speed, timing, power and efficiency.
On the basis of these readings,
we will recommend them a bat.
All the resulting numbers
will be mapped with the personal bat you are using.
For these shenanigans,
- how much... - These aren't shenanigans.
How much do you charge for these things?
Sharks, we charge Rs. 1,000
for trials.
- What's the cost of the bat? - It's redeemable against the bat.
Let's have a demo.
My suggestion is to bring the Z-Bat Clinic
to Shark Tank.
[thrilling music]
No, it's a thigh pad.
- Oh my God! - Nice!
[thrilling music]
Good job!
- Now we'll find out. Oh, my! - Too much!
- Ready? - Ready!
[thrilling music]
As you can see, his shot efficiency is 97%
- and his power is 93%. - Woo-hoo!
Let's change the bat.
[suspenseful music]
- Good job. - Aman used two bats. So show us the report.
Correct!
Sir, which one did you like more?
I could feel the difference between both bats.
The first bat felt better than the second bat?
What does the report recommend?
Here's the result. As you said,
1C is the second bat
and 6B is the first bat which you played with, Aman.
It recommends the first bat.
Your score for the second bat is 82.5%
and it's 100% for the first bat.
Wow! That's good. Nice.
[sweeping music]
- Doesn't anyone else do it in India? - No, sir.
Nobody does it in the whole world.
You imported this technology from a company.
- It's a ready-made technology. You didn't make it. - Correct!
You have expertise in making bats.
- Yes! - Correct! We are professional bat manufacturers.
You must be providing bats to famous cricketers too
as you specialise in making them.
Boss, your question is apt.
[adventurous music]
Professional cricketers won't go for trials.
Professional cricketers have been playing since childhood.
They know about famous companies like Meerut's SG company.
They know the bat which suits them since childhood.
Non-professional cricketers and amateurs
will come to you.
Professional cricketers don't need you.
An international cricketer, Punam Raut visited our store.
Did she visit as part of a promotion or to undergo the test?
She came to undergo the test because she doesn't endorse our brand.
[sweeping music]
She just uses our bat.
What are your sales figures?
[sweeping music]
- Right now, we're burning. - Loss-making.
- Yeah, we're at loss. - Let's understand the market.
Tell me something.
You're venturing into a market that has established players.
So, what's the market size and growth rate?
As of now, it's 1500 crores.
1500 crores.
- Yes. - What's the growth rate?
The growth rate is 10-15%. It has increased now.
Not possible.
Okay, let's assume 10-15%.
Who are the established players?
The biggest is SS.
And what's their market share?
Annually, their turnover is 580 crores.
SG's turnover is 310 crores.
310. And they've been in this business for a long time.
Yes, they're the kingpin of cricket equipment.
[music playing]
So, these two players,
are you priced lesser than them?
Compared to them, we have a better grading.
The cost must be the same.
- The cost is about the same. - Yeah.
And from the 180 crores target audience globally,
what per cent must be serious about cricket?
- 30%. - 30%?
- 60 crore people? - I'm saying globally.
Yet, 60 crores is a big number.
I'm sorry.
It will be around 3%.
I don't know the exact value.
- Are you sure about 1500 crores? - 30 million.
I'm sorry, 30 million people play professional registered cricket in En
The population of England is 65 million.
How can 30 million people play?
Sir, I saw it in their registered players list.
All of them?
It must've been the total of their registration record.
Your numbers are wrong.
But I don't agree that it's a 1500-crore market.
I think it's much bigger. You don't know the numbers.
Look, I've decided. I'll share it with you.
You're very passionate
about this category.
But I don't think it's worth investing.
The market is small.
And there's no significant growth.
But I appreciate your passion for the sport.
You're doing a good job. Good luck! I'm out.
[music playing]
I've decided too.
I have no expertise in cricket.
But I have a fair understanding of business.
And I have two issues.
Number one.
And secondly,
at the end of the day, we bet on the founders.
When you're unsure about your numbers
it's not a good sign.
So, I'm not confident about the business.
And for that reason, I'm out.
I have decided too. I'm out.
But I would like to tell you that you're cricket enthusiasts
and India is a cricket-enthusiast country. ABC.
Astrology, Bollywood, Cricket.
ABCS. And Shark Tank.
[laughs]
Good one! So, cricket is a good thing and you're following it.
But you've tried to turn it into your profession.
But you've chosen the wrong area.
Frankly, you're just a bat manufacturer.
You have to find a competency. Either it's the price,
or the brand.
I don't think you're headed in the right direction.
Not in any area. For that reason, I'm out.
Every new brand in any industry
will try to disrupt the traditional players.
And every industry will go through this.
The two market leaders
are earning 300-500 crores after being there
and holding such a big market share so
I don't think
it will be able to disrupt the industry.
It's not interesting as of now. Best of luck!
Thank you.
I think you're making a good value addition.
An experience centre is a good idea.
And I feel that an experience centre will be able to
make sales worth 2-3 crores annually.
Secondly, you must tie-up with someone like a Decathlon
because they have megastores where they will give you a corner
to set up an experience centre because that's Decathlon's format.
We forgot to tell you.
Sharks, we have made pan-India tie-ups with Smaaash.
And as you said Peyush,
we are opening it with Smaaash in every state.
- Then you're on the right track. - Correct.
I think it's too early so I'm out.
But it's good. All is well. Best of luck!
- Thanks a lot! - Thank you.
[music playing]
I've kept something next to you.
Please open it and see.
Oh!
Sharks, whoever comes here
brings you a filled plate.
But I've brought you empty plates.
Surprising?
In our country, every day
there are 20 crore people who sleep on a hungry stomach.
[music playing]
Most of them are kids.
One such kid changed my life forever.
One day, I was going home in a taxi.
At a signal, I saw that
a young girl
was sitting in the rain and eating wet roti.
[music playing]
After researching a lot, I realised that
to end hunger
you need a change in thought than more funds.
I was always interested in art as a kid.
So, I decided to use art and creativity
to reinvent this serious topic.
That's how The Plated Project began.
[music playing]
We have decor as a category. You can't eat in this one.
[music playing]
We have collaborated with artists worldwide
to make such beautiful and exclusive art plates.
[music playing]
On the sale of every plate,
fed 5,50,000 people.
Well done!
By 2025, my dream is
to take this number to 25 lakhs.
To show the world that
even a small effort can make a big change.
I'm here to offer you 2% of the company
- Hi, Chitresh. - Hi, sir.
- Welcome to Shark Tank. - Thank you.
It's a good cause.
- It's very close to my heart. - I know, sir.
Please tell us more about you.
- I was born in Goa. - Wow!
But I've been living in Mumbai for the last 15 years.
Okay.
I'm from a middle-class family. So, as a typical child
I became an engineer and then realised what I wanted in life.
Then I went on to do MBA.
I was interested in marketing.
In the last 12 years,
I have worked in strategic branding roles.
So, is this your brand strategy?
Your project,
do you think doing this will build your brand?
What's the reason behind doing this?
Our brand is being built based on impact.
The impact is the core.
But at the end of the day, sir
it is a for-profit brand.
If we make a profit, we can make an impact.
We have to do it simultaneously.
When you started, was it for a purpose
or to do business?
When I got the idea,
we wanted to work with artists.
We were thinking about...
- So, artists were first. - Art and artist.
Because we used to work in an agency
and used to network with artists a lot.
They didn't have any avenue.
So, you started off to cater to the artists' needs.
Both these things are not related.
You're saying that you wanted to feed hungry kids.
- That's right, sir. - You're also saying that
my genesis was to
- help artists. - Correct.
What's your real motivation?
[music playing]
Sir, it's exactly what I said.
I want to build a business for profit.
Because this is our core business.
We are not in the business of
We are not serving food.
That's why I call it sponsoring meals.
So, how much money do you donate?
Around 150-200 on every product towards hunger.
Can we see your product?
[music playing]
Sir, this is for you.
- Very beautiful. - Thank you.
What is the price of this plate?
Why is it 2500 rupees? It's a turn off.
It is not so expensive, ma'am.
If you buy
a digital print for your house and put a wooden frame
I can bet that it will start from 1800.
I'll tell you one more thing. I've used your plates.
Oh, wow.
You'd done something with Suket Dheer.
I loved your work.
But when I saw the price, I lost you there.
Sir, the plate you saw,
it had been sponsored by a brand.
They had priced it very high.
Because this is the best quality of plate.
But why did you sell just 30,000 products in 1.5 years?
[music playing]
We started with a single product and a single category.
Around 8-9 months ago,
I think we realised the potential
and formed a team that's pushing it seriously.
It started slow.
But last month, we closed at 40 lakhs.
[music playing]
- Net revenue or sales? - Sales.
Revenue does not mean sales.
Revenue is generally referred to net revenue.
Meaning what remains after
deducting discount, commission and GST.
That's revenue.
How much profit do you make?
On average, our EBITDA for the last year was 15%.
- But last month only 6 lakhs. - Last month, we
what's the sales mix for 40 lakhs?
Secondly, what will be your sales over the next 3 years?
What is the vision?
- Which areas will grow? - Which category?
Currently, our split is 90-10.
By 2025, I want to build a 100-crore brand.
The Middle East is a huge market for us.
Last year, with zero marketing
we earned 10% of our topline revenue
from the international market.
So, we're going to easily do 10 crores this time.
[music playing]
Chitresh, the defensibility seems challenging to me.
The hunger aspect
doesn't seem to be so impactful.
[music playing]
Because those who are buying it
seem to be a limited population.
After a while, the impact won't be much.
[music playing]
So, I'm out of this.
[music playing]
So, I'm interested in this.
Your goal is powerful.
But we're not here for this.
- Of course. - Not for charity.
We're here to make a return as well.
- Correct. - Tell me how I will make money.
Will you take VC money?
This is not a short-term business for me, sir.
It's my life goal.
I want to grow sustainably, sir.
We will take VC money
only when we truly need it as per your guidance.
To date, we have never raised any seed funding or anything.
Because I like your goal and you're hard-working.
Your destiny is with you. I'll make you an offer.
[music playing]
5% for the amount that you've asked for, 75 lakhs.
Anupam gave you a valuation of Rs. 15 crores.
- Correct! - Your ask was Rs. 37.5 crores.
I'd like to give you a valuation of Rs. 30 crores
with a different split.
[suspenseful music]
Rs. 30 lakhs for 1%
and the balance Rs. 45 lakhs in debt
is a purpose-driven brand business.
Your focus is D2C
and you need partners who understand branding.
So I don't think
you can get a better combination
than Aman and me.
[dramatic music]
We want to match the valuation
Please decide quickly
as you might lose offers.
[sweeping music]
The good news is you won't leave empty-handed.
You'll go home with a full plate. [chuckling]
- Let's celebrate that. Well done! - Yes. Well done!
I'm sure about it.
- You mean you are doubtful about us. - No. I'm not doubtful.
Now we should feel bad.
Secondly, if all three of you
come together,
I'd like to have all four of you.
- Because it'll generate a synergy. - Please tell us your counteroffer.
For the remaining 4%...
Let's keep it at 5% as you said.
Maybe you can match Rs. 30 crores valuation.
You want us to increase the money from Rs. 75 lakhs to Rs. 1.5 crores.
What do you have in your mind, sir?
If the four of us join
and give you a valuation of Rs. 20 crores,
we'd invest Rs. 80 lakhs that is Rs. 20 lakhs by each.
No! I'm out. I'm not interested.
- 1% is too less. - What's your final decision? In or out?
- You may take these three. - Okay. Last offer from the three of us.
If the three of us invest together,
the offer we serve you
- Sir, Rs. 25 crores... - Yes or no for Rs. 20 crores?
The three of us will come.
You are getting three Sharks. Don't be small-minded.
Such things create a disconnect, you know.
[suspenseful music]
Thank you!
Chitresh, congratulations on the deal.
Honestly, it blows my mind to think that
someone could dream about completing
such a huge mission with just a plate.
You've inspired so many to dream of it and achieve it.
The sharks have come together with you
to aid you in the mission to fill every plate with food.
How will impact the pace of this project?
Rahul, as you said,
you didn't believe that something like this could happen,
I think the trust that the sharks have shown on us today,
that trust will inspire countless people to join our mission.
Be it artists, people,
everyone will believe that even a small step
can lead to big changes.
You're trying to bring some amazing change.
ACKO welcomes this change.
We want you to leave us a small message and your signature
on our ACKO Change Makers Wall.
Thank you.
ACKO, with its excellent offerings, has
changed the lives of more than 8 crore people.
We hope that The Plated Project helps you change a million lives.
And give them respect and dignity.
Wish you the very best.
[music playing]
[phone rings]
Hello. Yes.
Really?
We got into Shark Tank, big brother!
Wow, younger brother!
Truly. We have to go to Mumbai. Book a hotel.
Look at this hotel's photo.
It looks great in photos. Book it immediately.
We have to look smart in front of the Sharks.
Order a nice trousers or shoes.
Brother, look at this!
You will look like a dude in this.
Sharks, at present,
it sells only if it's attractive.
You order a product on Amazon based on the pictures.
You eat food
based on the food photography on Zomato or Swiggy.
Yet if I ask you
can you tell me a brand
which caters to this kind of photography?
If I ask you,
can you book a photographer for tomorrow night online?
Earlier, this wasn't possible.
But now you can.
Greetings, everyone!
We are VsnapU.
New Zealand to Iceland,
VsnapU has done more than 30,000 shoots.
For that, our ask is
Because the photo has been clicked.
Yes, brother.
What's your name?
I'm Taranbir Singh Sahni.
I head operations at VsnapU.
If you permit, I would like to invite our co-founders too.
- Please go ahead. - Wow! Four co-founders.
- Amazing. - Wow!
Welcome, guys!
Greetings, Shark. I'm Kaushik Singh.
And I look after the technology at VsnapU.
Greetings.
Welcome to Shark Tank, guys!
Tell us more about yourself, your story so far.
Parminder and I are brothers.
We started this company at the end of 2017.
Anshu joined us
because he had worked on many client-site projects with us.
He found the idea interesting
and he wanted to join our team. So, here he is.
What were you doing earlier?
Sir, I had a travel company before this.
That's where the idea was born.
A customer approached us for a photographer
as a part of his Munnar package.
So, I started calling photographers
and realised that it was a great idea.
If I add 2000-4000 rupees
for photography as a part of the 1 lakh package
then it will be a nice product
because people travel and take photos a lot.
And they end up taking pictures on a vacation.
Vineeta never gets out of Instagram.
[laughs]
Who holds the maximum equity?
[music playing]
The equity is divided equally among the two of us.
What about the others?
Both of them have 5% each.
Do you have an investor?
- Yes. - Yes!
We have already taken two investments.
- Wow! The first investment was done by the government of India, 36Inc.
- Wow. - And recently we closed a round with IPV.
At what valuation? Please tell us.
The term sheet closed three months ago. The money is still in the bank.
Rs. 17 crores were the pre-money valuation
and we closed the round at a valuation of Rs. 19.1 crores.
Are you like the Urban Company for professional photographers?
Sir, we are different.
When you book a photographer through Urban Company,
you know that a freelancer photographer
they upload thousands of photos of restaurants on our panel
and we ensure quality photographs.
The way I have my business with bOAT,
you never pitched to me.
Sir, we were bootstrapped. We're still profitable.
As per our capacity we just raised it three months ago.
Our first customer was Zomato.
We were the first company to formulate the SOP for Zomato.
- Very good. - Very nice.
We have India's top 12 luxurious hotels
including Taj, Hyatt, Leela, Mariott, we're available everywhere.
Photographers inside the hotel.
You can book a photographer within a second
who stays at the hotel.
We have a revenue share model with the hotel.
Let's try to understand your industry.
Please tell us their size.
How huge are B2B and B2C markets?
Globally, this market is Rs. 2 lakh crores in size.
And the Indian market's size is Rs. 50,000 crores.
Rs. 50,000 crores.
Let's assume that 80% of the money will go to the photographers.
- all of them mustn't be working with you. - No.
So on average,
80% of the industry profits the photographer.
You are left with Rs. 10,000 crores.
Now we must decide what percentage of the market you may capture.
What is your monthly revenue right now?
This year, it's Rs. 15 lakhs per month.
Is it your commission? Or the money earned by the photographer?
- These are our total sales. - It's GMV.
So it's GMV.
We have a product demo to help you understand our product in detail.
Sure!
This is our website.
You may book a photographer here in 45 seconds.
You may click on 'book a shoot'.
Let me show you three plans.
You may choose a plan
and give us a few details like your WhatsApp number
and tell us the date and time for the shoot.
Do the payment as well.
[upbeat music]
Then you get the details of the photographer on WhatsApp.
Also, after the photoshoot,
you get the link to the edited pictures on WhatsApp.
You may download all the high-definition pictures.
When my wife visits Greece,
- she takes me along only to click photos. - Exactly!
- We are victims too. - She has no other reason.
My per day quota of clicking photos is 100 photos.
[laughing]
Please don't lie. You get clicked more than Priya.
- Priya... - Actually...
Sir, we are creating disruption in the market through price.
We can provide a photographer for 1 hour at Rs. 1,414 in India.
- This service is already present in Europe. - Yes, sir.
- People are already doing it. - Right, sir.
My personal opinion
is that moment photography is a declining market
in the long term.
People will start editing photos and using filters
as the phones get upgraded. So 10 to 20 years down the line,
this market will no longer
be an outsourcing work and it'll be done individually.
So I consider it a risky business
from a long-term perspective.
So I want to be out for now.
But best of luck. I hope you become
the biggest brand in photography in India.
As I said in the beginning, I think
you are operating in two segments, B2B and B2C.
As far as I know, B2B
is a low-margin and a high-relationship segment.
And I'm not interested in that.
The problem with B2C
is that it's a low-frequency use case.
When you make a low-frequency use case app
in a market like photography,
the customer acquisition cost is too high.
And as you are using third-party photographers,
it isn't economic.
For this reason, I'm out.
[tense music]
clicking the photo at the right moment
otherwise, the moment is lost.
[dramatic music]
In your business,
we need to call you and book your services.
The photographer will be scheduled to come and the moment will be lost.
[dramatic music]
So it doesn't fit my logic or interest.
And for that reason, I'm out.
[sweeping music]
I don't have a conviction in this model due to repeatability
or the Urban Company?
They already have a customer base
and they just need to add this vertical.
I'm doubtful about it.
And the bigger reason is that if I invest in your brand,
my wife would stop taking me along with her.
Jokes apart,
all the best. Thank you so much and do well.
- Thank you! - Best of luck!
- All the best! - Thank you!
- Superb! - Bye!
[ethereal music]
[bubbling]
- Greetings, Sharks! - Greetings!
India is a diverse country.
Every part and every city in our country
makes different varieties of delectable food items.
One common thing binds us all
and that is bread.
It could be an ordinary sandwich
or Shahi Tukda.
Do you know what bread contains?
- It contains empty calories. - Which makes you fat.
Chemicals and colours.
They are harmful to your health.
It doesn't contain protein.
What about your growth and development?
But how do we avoid a convenient, filling
and tasty food item like bread in our busy lives?
You needn't avoid it as we are at your service.
We made India's first protein bread
with the help of an international food technologist.
[inspirational music]
Our Protein Bread contains 300% more protein
retail outlets in Mumbai and Pune
We want to make The Health Factory, India's biggest bread manufacturer.
Today our ask is
Change the bread and not the habit.
- Wow! - Mohit and Vinay, welcome to Shark Tank.
You two appear too young. What is your age?
I'm 31 years old.
I'm 27 years old.
Okay. And how do you two know each other?
He is my cousin.
How did you think of this idea?
Did an incident inspire you? What triggered you to start this venture?
When I started doing a job,
every morning I used to eat six slices of bread
and... Six slices of bread
and vegetables to go with it.
- It means three sandwiches. - Three sandwiches.
- Six slices of bread! - Six!
My parents hail from Rajasthan. They always cautioned me,
"Why do you eat bread daily? Eat something healthy."
One day, I went inside the kitchen and there was no supply of bread.
I resolved to make a bread
that's nutritious and tasty too.
What are your educational backgrounds?
I pursued BBA from Symbiosis, Pune.
I pursued BFM from Jai Hind College.
What's the difference between your bread and ordinary bread?
They are poles apart.
- Please show us. Let us smell too. - Please serve us.
Sharks, I want to buy some time.
Sure, my friend. We are famished.
[motivational music]
What is it? Shall I eat it? Very good!
Wow! It's a full-fledged meal.
[upbeat music]
The bread tastes good.
It seems to be made in Italy.
It smells nice and it tastes nice. Very nice.
[upbeat music]
Why didn't you name your company The Bread Factory?
When we launched the company, we planned to launch
more products down the line under this umbrella organisation.
- Makes sense. - That's smart.
But down the line, we had a realisation.
Honestly, when I observe business pitches here,
I felt strongly about something and that's focus.
Very good. Good answer!
So you want to become a bread company.
The bread vendor of the country.
What's the cost of the bread we usually buy like, Harvest Gold?
It costs around 40 to 50 rupees.
- How much does this cost? - Rs. 60.
But it must be bigger in size.
[suspenseful music]
What's the size of the bread industry in India?
Please share your sales figures.
[dramatic music]
- We raised funds in May-end. - Gosh!
Our sales were around Rs. 11 lakhs before the fundraising.
When did you start your business?
We began proper execution in 2018.
for this month.
Very nice. What's your projection for this year?
13% of 56% is our delivery charge.
- If you earn Rs. 5 crores, will you profit or not? - We won't profit.
[sweeping music]
- You won't profit. - No, sir.
What is your total loss?
This month our cash burn was Rs. 6 lakhs.
Many subscribers gave us an advance payment of three years
- to get our subscription. - Wow!
Our first set of consumers is still our consumers.
Then it can't be scaleable because you could cover only a small area.
[suspenseful music]
Let me share one more fact.
As per our logistics model
Our fresh bread is delivered between 6 and 10.
Today, for every packet of bread
If it costs Swiggy 30 rupees then how can you spend only 18?
[music playing]
Your slot,
you deliver in specific slots
so you carry all the stuff together.
- That reduces the price. - Yes, it spreads out.
Swiggy's price is higher because it's on-demand.
That's right, sir.
But the biggest issue must be of wastage. Am I right?
[music playing]
Wastage is around 12-15%.
No.
- Oh! - Why not?
So, tell us your revised unit of economics.
Yeah and start with
a thank you note to me as I reminded you about the wastage.
Now, I will share the rest. Say it.
Thank you, Aman.
[laughs]
- Okay, tell us. - Our wastage was at 20%
It's down to 12% now.
To answer the other question, how impactful is it?
It will affect our gross margin by 8%.
- What's the remaining net? - 35.
[music playing]
- How many people in the team? - I'm the founder and CEO.
Mohit.
Mohit, why were you sad when numbers were being discussed?
Why were you so worried?
- No, do I look worried? - Yes.
No, not at all.
Is it because he's losing a lot of money?
No? Then smile.
- Are you the co-founder? - Yes.
What's the equity split?
- I hold 74.7% equity. - Okay.
We have created an ESOP pool.
Wherein, Mohit holds 2% equity.
It's an ESOP pool. So, he's not the co-founder.
- I'm just addressing it. - Sure.
- Tell me. - On paper,
Mohit will soon be the co-founder.
That's why he's upset. He wanted more.
You're only giving him 2%.
How much equity does the investor hold?
How much money did you raise in May?
Recently, we handed over 14.1% equity.
So, 3x.
Our demonstration in this one quarter has been very strong.
To go from profit to loss.
Sorry.
- She interrupts a lot. - Yes, they all do.
- I'm the only decent Shark. - You are skilled. That's good.
You're a good leader. Go on, speak.
- What's their revenue? - 3 crores monthly.
[music playing]
Are you a bit slow in executing things?
Have you missed the boat somewhere?
I think we're in the right season now.
As far as my understanding goes,
there are 2-3 categories of bread.
One is the standard, regular bread.
The second is artisanal bread.
The third category is where people want to eat the same bread
but they want to convince themselves that it's healthy.
I think you will fall there.
I don't think your bread is healthy.
[music playing]
20% lesser carbs does not make it healthy.
It's not healthy.
- Right? It's healthier. - It's healthier.
In that category,
how many brands are there and how fast are they growing?
Around 2-3 brands. For example, Theobroma, The Baker's Dozen.
- What's their size? - Their size
to be very honest, I don't know.
What?
I think you're in a tough spot.
And that's why it will be tough for you
to compete with the mass bread.
Secondly, as a principle,
I don't invest in companies
that make questionable health claims.
For that reason, I'm out. Good luck on your journey, guys!
[music playing]
I don't agree with Anupam. I think your 0% maida claim
[music playing]
is great because
people are conscious about
fibre-rich and zero-maida food.
So, this category is growing, as you mentioned.
But I've noticed over 8 years that
it requires a lot of love and patience.
1-2 brands that you named
out of which I've closely followed The Baker's Dozen's journey.
They scaled up to 60-70 crores
- revenue run-rate. - Wow!
I think Theobroma must be 100+ crore.
So, I'm not so interested in this partnership.
I'm out.
[music playing]
How big will the business grow to be in 3 years?
60-65 crores.
From 5 crores, you will directly jump to 65 crores.
Yes, sir.
What will be the profit in 60 crores?
- Around 14% EBITDA. - 14%.
So, it is a good deal or not?
You asked me about 3 years.
- Let's talk about 10 years. - Woah!
I want to be India's best brand.
- Always quick to answer! - Nice.
There are two players here
making 30 and 60 crores.
You're lagging in the race.
You have to pace up.
You have to work on the execution.
As of now, I'm out.
Because of the execution capabilities.
India, you can become an ultimate home Shark now.
Download or update the SonyLIV app now
and win a chance to become the ultimate home Shark.
[water bubbling]
Aman, on Shark Xperience today,
Harsh from Harda has a question for you.
I launched my startup a month ago.
In a new business,
is it wrong to draw a salary from the start?
I think an entrepreneur must draw a salary.
It depends on the entrepreneur's situation.
If drawing a small salary helps you pay your bills, then do it.
Don't draw a high salary.
Draw as much as required.
I didn't draw a salary for a long time.
I mean my wife, Priya, was working.
And we used to pay our bills with her salary.
Two years ago, when we started making money
I started drawing a salary.