1 00:00:10,000 --> 00:00:11,760 [theme music playing] 2 00:00:50,200 --> 00:00:51,440 - Hi, Sharks! - Hi! 3 00:00:54,480 --> 00:00:55,600 For us, Gen Z, 4 00:00:55,720 --> 00:00:58,640 manicures are just as important as hair and makeup. 5 00:00:58,720 --> 00:01:00,440 Attending a party without a manicure 6 00:01:00,640 --> 00:01:03,480 feels as though a part of our body is missing. 7 00:01:03,560 --> 00:01:04,960 [laughing] 8 00:01:05,320 --> 00:01:07,440 Manicure isn't just cut, file, and shine. 9 00:01:07,520 --> 00:01:09,400 It also encompasses various nail art techniques. 10 00:01:09,640 --> 00:01:13,120 Visiting a salon and getting your nails done is so boring. 11 00:01:13,240 --> 00:01:15,160 It's a waste of time and money too. 12 00:01:16,600 --> 00:01:19,440 The salon nails will last on your nails for approximately four weeks. 13 00:01:19,680 --> 00:01:21,480 Who desires such a level of commitment? 14 00:01:22,000 --> 00:01:24,520 That's why I started Polish Me Pretty. 15 00:01:24,840 --> 00:01:26,160 [upbeat music playing] 16 00:01:26,880 --> 00:01:29,360 Polish Me Pretty makes your bare hand like this, 17 00:01:29,480 --> 00:01:31,200 - look like this within minutes. - Whoa! 18 00:01:32,880 --> 00:01:33,800 Polish Me Pretty 19 00:01:58,200 --> 00:02:00,480 when you can wear your personality on your fingertips. 20 00:02:00,600 --> 00:02:03,560 So, my ask for today is Rs. 25 lakhs for 25%. 21 00:02:09,040 --> 00:02:10,680 - Welcome to Shark Tank. - Thank you. 22 00:02:10,760 --> 00:02:12,840 You appear as if you've come straight from Riverdale. 23 00:02:14,440 --> 00:02:16,160 - You mentioned you are 22 years old. - Yes. 24 00:02:16,400 --> 00:02:18,640 We can't ask you about your past job experience. 25 00:02:18,800 --> 00:02:20,760 - I graduated last year. - From which college? 26 00:02:20,880 --> 00:02:23,640 I studied design from ISDI Parsons in Mumbai. 27 00:02:30,000 --> 00:02:31,040 So entrepreneurial. 28 00:02:31,200 --> 00:02:33,760 And I thought of doing it full-time. 29 00:02:33,840 --> 00:02:35,120 Is your father an entrepreneur? 30 00:02:35,280 --> 00:02:36,280 - No! - Okay. 31 00:02:36,360 --> 00:02:38,480 I come from a business family. 32 00:02:38,560 --> 00:02:39,760 That is what I was asking. 33 00:02:39,840 --> 00:02:41,440 Dad has his own company. 34 00:02:41,520 --> 00:02:43,800 - Yes! I was inquiring about that. - We make UPSs. 35 00:02:43,960 --> 00:02:46,600 - Okay! - Did you do an internship or work anywhere? 36 00:03:08,480 --> 00:03:11,440 - So honest. - I wasn't in the mood. 37 00:03:11,600 --> 00:03:13,720 I believed I could start something new later. 38 00:03:19,320 --> 00:03:21,240 - This is it! - Why do you feel that? 39 00:03:21,600 --> 00:03:25,320 Because when I used to visit salons to get my nails done, 40 00:03:25,400 --> 00:03:28,320 I was fascinated about sharing it with the world. 41 00:03:36,720 --> 00:03:38,520 Let me explain my vision to you. 42 00:03:38,720 --> 00:03:39,760 Sure! 43 00:03:39,840 --> 00:03:41,280 - Oh! - Vision! 44 00:03:41,640 --> 00:03:43,280 - Right choice of words. - Smart. 45 00:03:43,360 --> 00:03:45,040 Are you wearing Lenskart's eyeglasses? 46 00:03:46,080 --> 00:03:47,600 Now you definitely have a vision. 47 00:03:47,760 --> 00:03:50,320 Basically, my goal is to expand the reach 48 00:03:50,600 --> 00:03:52,360 of Polish Me Pretty across all categories 49 00:03:52,480 --> 00:03:54,240 of salon essentials. 50 00:03:54,320 --> 00:03:55,880 This includes manicure and pedicure mixes. 51 00:03:55,960 --> 00:03:59,360 Nail care products such as cuticle oil, creams, and polishes. 52 00:03:59,480 --> 00:04:01,320 As well as nail cutters, filers, buffers, and everything else needed. 53 00:04:01,400 --> 00:04:03,080 Aren't there such brands in the market? You mentioned... 54 00:04:03,160 --> 00:04:07,240 There are, but my niche target is Gen Z. 55 00:04:07,320 --> 00:04:09,760 Can't other brands cater to them? 56 00:04:21,360 --> 00:04:23,520 I don't have a lot of Instagram followers. 57 00:04:23,600 --> 00:04:24,840 How many followers do you have? 58 00:04:25,480 --> 00:04:26,720 I shouldn't have said that. 59 00:04:36,760 --> 00:04:38,520 [song playing] 60 00:04:52,560 --> 00:04:53,760 Okay! Understood. 61 00:04:56,360 --> 00:04:58,520 [light-hearted music playing] 62 00:05:01,960 --> 00:05:03,200 I like that. Thank you. 63 00:05:03,280 --> 00:05:06,040 - Nice! Chrome and French! - And French. Yes. 64 00:05:08,360 --> 00:05:10,280 Oh my! Rs. 1,300. 65 00:05:12,040 --> 00:05:13,840 How is this used? 66 00:05:14,000 --> 00:05:15,360 Yes, I was trying. 67 00:05:15,440 --> 00:05:17,200 It didn't stay in place. It is falling off. 68 00:05:17,320 --> 00:05:18,800 Namita, could I show it to you? 69 00:05:18,880 --> 00:05:20,600 - If you have... - Namita, can you go? 70 00:05:23,240 --> 00:05:26,000 There are two alcohol pads in it 71 00:05:55,200 --> 00:05:57,000 Does that cause any problems when sticking? 72 00:05:57,120 --> 00:05:59,840 No! I offer 20 nail tips in one box. 73 00:06:00,040 --> 00:06:01,480 - It includes all the sizes. - Okay. 74 00:06:01,560 --> 00:06:02,680 - Okay! - Thank you! 75 00:06:04,280 --> 00:06:05,680 Anoushka, do you like the look? 76 00:06:06,240 --> 00:06:07,080 Love it! 77 00:06:07,120 --> 00:06:09,360 Oh, man! Show me! 78 00:06:09,560 --> 00:06:11,200 You look like Beyoncé. 79 00:06:13,400 --> 00:06:15,880 What a 'rizz', bro! I like your 'rizz'. 80 00:06:15,960 --> 00:06:17,240 [laughing] 81 00:06:18,600 --> 00:06:21,280 Numerous products similar to this one can be found in the market. 82 00:06:21,400 --> 00:06:22,880 The nails available in the market 83 00:06:23,000 --> 00:06:24,280 are machine-made. 84 00:06:24,360 --> 00:06:26,200 They are easily breakable. 85 00:06:26,280 --> 00:06:27,440 Also, they are not reusable. 86 00:06:27,760 --> 00:06:31,200 They are sold for around Rs. 250 to Rs. 300. 87 00:06:31,440 --> 00:06:33,440 But they are designed for single use only. 88 00:06:33,520 --> 00:06:35,760 You're saying there is no product like yours available in the market. 89 00:06:35,840 --> 00:06:37,240 There is only one currently. 90 00:06:37,320 --> 00:06:39,960 - Sonakshi Sinha just launched it. - Sonakshi Sinha's brand. 91 00:06:40,040 --> 00:06:42,720 Anoushka, how did you start? I am curious about it. 92 00:06:42,800 --> 00:06:43,640 What was the first step? 93 00:06:43,720 --> 00:06:47,600 Limited edition Nike sneakers were released. 94 00:06:48,360 --> 00:06:50,720 I purchased it at the listed price on the website. 95 00:06:50,840 --> 00:06:52,840 And then, I sold them 96 00:06:52,960 --> 00:06:54,560 to get my initial fund. 97 00:06:54,680 --> 00:06:55,840 How much did you buy it for? 98 00:06:55,960 --> 00:06:57,000 Rs. 13,000. 99 00:06:57,160 --> 00:06:58,760 - How much did you sell it for? - Rs. 1 lakh. 100 00:06:59,000 --> 00:07:01,360 - Whoa! You go, girl! - Brilliant! Well done. 101 00:07:02,160 --> 00:07:03,040 Did your dad help? 102 00:07:03,280 --> 00:07:04,920 - No! - What was your next step? 103 00:07:05,120 --> 00:07:08,160 I looked up nail artists from Justdial all across Pune. 104 00:07:08,360 --> 00:07:11,360 No offence to anyone, but their designs were gaudy 105 00:07:11,640 --> 00:07:14,480 - and garish! - Garish! 106 00:07:14,680 --> 00:07:17,520 I explained to them how I wanted the design. 107 00:07:17,600 --> 00:07:20,040 My family members were my guinea pigs 108 00:07:20,120 --> 00:07:21,280 for sampling. 109 00:07:21,440 --> 00:07:23,760 I consider this my family brand. 110 00:07:23,880 --> 00:07:27,440 Upon receiving my initial large Blinkit order, 111 00:07:27,560 --> 00:07:29,280 my entire family 112 00:07:29,360 --> 00:07:31,640 stayed up until 3 a.m. 113 00:07:31,720 --> 00:07:33,840 - at the supply chain. - So sweet. 114 00:07:33,920 --> 00:07:35,840 Diligently packing nails. 115 00:07:35,920 --> 00:07:36,840 That's great. 116 00:07:36,920 --> 00:07:40,200 After that, I told my dad that I wanted to pursue this. 117 00:07:40,400 --> 00:07:42,040 He asked me to dive into it, 118 00:07:42,360 --> 00:07:43,920 but don't drown. 119 00:07:44,000 --> 00:07:44,880 Dad is training you well. 120 00:07:44,960 --> 00:07:47,720 Dad knows that a boat will come to save you. Sorry! 121 00:07:48,720 --> 00:07:52,440 Is it uncool to use the right spellings for Gen Z? 122 00:07:52,520 --> 00:07:54,360 It varies from person to person. 123 00:07:54,440 --> 00:07:56,080 Because, if I look at this product, 124 00:07:56,400 --> 00:07:58,920 I notice about seven spelling errors. 125 00:07:59,880 --> 00:08:02,960 The words length, application, eliminate, discharge are misspelled. 126 00:08:03,080 --> 00:08:06,000 I am confused. Does this help 127 00:08:06,240 --> 00:08:09,280 - the brand become cool or is it an error? - I don't think so. 128 00:08:10,240 --> 00:08:11,680 - It's an error then. - Yes. 129 00:08:12,200 --> 00:08:15,080 If you are passionate about your business, 130 00:08:15,160 --> 00:08:17,000 then this shouldn't happen, right? 131 00:08:17,360 --> 00:08:18,480 I will be honest. 132 00:08:18,560 --> 00:08:21,800 My attention was across everything. 133 00:08:21,880 --> 00:08:23,600 But I will get it rectified. 134 00:08:23,880 --> 00:08:26,520 - Okay! - I had these boxes available. 135 00:08:27,080 --> 00:08:28,080 I don't have the funds 136 00:08:28,160 --> 00:08:30,520 to get the boxes printed. So, I had to use these. 137 00:08:34,280 --> 00:08:35,440 So, what's the problem? 138 00:08:35,600 --> 00:08:38,000 Dad asked me to start the brand on my own 139 00:08:38,160 --> 00:08:40,320 and look for finances on my own and build my business. 140 00:08:40,440 --> 00:08:42,680 Did you study the market size? 141 00:08:42,800 --> 00:08:44,000 The nail market size, 142 00:08:44,080 --> 00:08:46,680 both organised and unorganised amounts to 9000 crores. 143 00:08:51,320 --> 00:08:53,960 That was my initial thought 144 00:08:54,080 --> 00:08:56,360 before starting this. I didn't have sufficient funds. 145 00:08:56,640 --> 00:08:58,600 So, this is what I could manage with Rs. 1 lakh. 146 00:08:58,680 --> 00:09:00,560 Ultimately, are you headed towards nail polish? 147 00:09:00,720 --> 00:09:03,120 I might have it as SKU in the future. 148 00:09:03,240 --> 00:09:05,720 We will see that later, depending on how the brand progresses. 149 00:09:06,200 --> 00:09:09,280 What is your plan? How much are your monthly sales? 150 00:09:09,400 --> 00:09:12,720 The sales I generated in October 151 00:09:20,680 --> 00:09:23,360 Before that, the revenue was Rs. 5,000 from our website. 152 00:09:23,520 --> 00:09:25,880 Currently, I am not running any advertisements. 153 00:09:25,960 --> 00:09:28,000 Can you provide an estimate of the revenue generated in October? 154 00:09:28,080 --> 00:09:29,920 160 boxes. 155 00:09:30,040 --> 00:09:31,160 Revenue! 156 00:09:31,280 --> 00:09:33,480 What is the total sales figure for your business in October? 157 00:09:33,560 --> 00:09:34,960 Up to this point, my total sales 158 00:09:35,040 --> 00:09:36,600 amount to Rs. 15.5 lakhs. 159 00:09:41,280 --> 00:09:45,560 - my sales would be Rs. 6,54,593. - What? 160 00:09:45,640 --> 00:09:47,720 How were you able to generate that much with just 160 boxes? 161 00:09:47,800 --> 00:09:51,560 - This month! Because my Zepto's PO has been confirmed. - Okay. 162 00:09:51,640 --> 00:09:53,720 Are you sharing the sales figures for the month of December? 163 00:09:53,800 --> 00:09:55,080 Yes. Sales in December! 164 00:09:55,200 --> 00:09:57,480 This month, you made a sale of Rs. 6.5 lakhs. 165 00:10:04,680 --> 00:10:05,960 Or did you establish a contact? 166 00:10:06,120 --> 00:10:08,560 After I went live on Blinkit, 167 00:10:08,800 --> 00:10:11,520 I headed over to Zepto and informed them about my presence on Blinkit 168 00:10:11,760 --> 00:10:13,280 and requested them to sell my products. 169 00:10:14,040 --> 00:10:15,400 So... 170 00:10:15,960 --> 00:10:18,920 It took me 32 weeks. I used to drop them an email every Monday. 171 00:10:19,000 --> 00:10:22,760 - Well done! Persistent pace. - To schedule an exploratory call. 172 00:10:23,040 --> 00:10:24,920 And inform them about our presence on Blinkit. Delhi, Bengaluru... 173 00:10:25,000 --> 00:10:27,000 I sent them the exact same email every Monday. 174 00:10:27,120 --> 00:10:29,520 Did you do that for 32 weeks? 175 00:10:29,680 --> 00:10:32,240 - Didn't you want to stop that, given their lack of response? - No. 176 00:10:32,320 --> 00:10:35,760 - Every day? - Dad asked me to shamelessly knock on the door. 177 00:10:36,640 --> 00:10:38,080 Keep knocking, someone will open. 178 00:10:38,200 --> 00:10:41,760 Your dad is training you well. I am impressed. 179 00:10:43,000 --> 00:10:46,640 This category is in its early stages, It is just getting started. 180 00:10:47,200 --> 00:10:50,240 These naughty people who work in the makeup industry 181 00:10:51,200 --> 00:10:53,680 will launch their line once this trend gains popularity. 182 00:10:53,800 --> 00:10:55,560 They already have a distribution channel. 183 00:10:55,640 --> 00:10:58,000 They also have shops. I am guessing around 200 shops. 184 00:10:58,280 --> 00:11:00,200 How will you compete with them 185 00:11:00,560 --> 00:11:02,200 in a niche category 186 00:11:07,480 --> 00:11:08,840 Oh! 187 00:11:09,120 --> 00:11:10,280 - But how? - How? 188 00:11:10,400 --> 00:11:13,480 Expand nationwide with quick commerce 189 00:11:13,800 --> 00:11:15,080 to sell manicures. 190 00:11:15,160 --> 00:11:17,320 We also offer customisation. 191 00:11:17,400 --> 00:11:21,240 I want to explore that area. 192 00:11:21,320 --> 00:11:23,080 What is your next year's business plan? 193 00:11:23,160 --> 00:11:24,520 What's the estimated sales revenue? 194 00:11:24,600 --> 00:11:26,040 I'm aiming to increase the sales by twofold. 195 00:11:26,120 --> 00:11:27,560 How much revenue will you make this year? 196 00:11:27,640 --> 00:11:29,680 This year, I have generated Rs. 15.5 lakhs. 197 00:11:29,800 --> 00:11:32,600 How much revenue are you expecting to generate by the end of this year? 198 00:11:32,680 --> 00:11:34,880 - Another Rs. 5 lakhs. - So, Rs. 20 lakhs. 199 00:11:56,320 --> 00:11:57,720 Rs. 700 is your selling price. 200 00:11:57,800 --> 00:11:59,080 Rs. 400 is my making cost. 201 00:11:59,200 --> 00:12:01,240 Rs. 120 is my raw material. 202 00:12:01,440 --> 00:12:04,000 - Rs. 100 is my nail artist's fee. - That's fine. 203 00:12:04,080 --> 00:12:06,080 Rs. 80 for shipping. And I've kept Rs. 100 as a buffer. 204 00:12:06,160 --> 00:12:07,480 What will you do with the funding? 205 00:12:07,560 --> 00:12:08,600 Firstly, marketing. 206 00:12:08,920 --> 00:12:11,000 Second, I want to build a team. 207 00:12:11,120 --> 00:12:13,520 Who will you hire for Rs. 25 lakhs? 208 00:12:13,840 --> 00:12:16,760 I will hire people of my age. 209 00:12:16,840 --> 00:12:18,720 More to understand... 210 00:12:18,800 --> 00:12:20,160 There is scope for mistakes. 211 00:12:20,240 --> 00:12:23,200 - Okay. - I will happen if I do it. 212 00:12:23,360 --> 00:12:25,040 I have made a decision, Anoushka. 213 00:12:25,800 --> 00:12:27,280 I will give you the offer you asked for. 214 00:12:27,360 --> 00:12:28,320 Whoa! 215 00:12:29,480 --> 00:12:31,200 Rs. 25 lakhs for 25%. 216 00:12:38,960 --> 00:12:41,640 You shut down your streetwear brand in the past. 217 00:12:41,720 --> 00:12:43,920 But I will give you the offer you wanted. 218 00:12:45,560 --> 00:12:47,600 I think, for another 2 to 4 years 219 00:12:47,760 --> 00:12:49,720 you should experiment and try without raising CAP. 220 00:12:51,600 --> 00:12:54,200 Especially because this category isn't proven. 221 00:12:54,520 --> 00:12:57,560 The competition you face extends beyond nail companies. 222 00:12:57,800 --> 00:13:00,680 It is every fashion brand and makeup brands, right? 223 00:13:00,800 --> 00:13:02,480 So, for that reason, I am out. 224 00:13:03,760 --> 00:13:05,720 But I wish you all the best. Good luck to you 225 00:13:05,840 --> 00:13:07,120 and hats off to your dad. 226 00:13:07,200 --> 00:13:10,760 - Thank you. - You are at the beginning of your journey. 227 00:13:11,000 --> 00:13:14,000 If you dilute 25% so early on, 228 00:13:14,240 --> 00:13:16,440 it's a chicken and egg situation, right? 229 00:13:16,600 --> 00:13:18,280 The investor will not invest at this stage 230 00:13:18,360 --> 00:13:21,480 unless you give 25% due to the low sales figures. 231 00:13:22,160 --> 00:13:24,640 If you give away 25% now, 232 00:13:24,920 --> 00:13:26,760 then what will be left in the future 233 00:13:26,840 --> 00:13:28,720 for future fundraising and scaling? 234 00:13:29,160 --> 00:13:30,760 But if you do choose to dilute, 235 00:13:30,800 --> 00:13:33,960 I think Peyush is a great partner. He understands D2C. 236 00:13:34,320 --> 00:13:35,800 He will really help you scale. 237 00:13:35,960 --> 00:13:37,160 But today, I am out. 238 00:13:37,240 --> 00:13:38,600 [suspenseful music playing] 239 00:13:39,160 --> 00:13:40,840 I am of a different opinion on this. 240 00:13:40,960 --> 00:13:43,520 When I secured my initial funding, my sales were similar to yours. 241 00:13:43,600 --> 00:13:44,880 I diluted 40%. 242 00:13:45,000 --> 00:13:47,240 At that time, I was contemplating the same matter as well. 243 00:13:47,320 --> 00:13:48,840 There was a considerable amount of deliberation. 244 00:13:48,920 --> 00:13:51,880 But I was confident that I wanted to pursue this. 245 00:13:52,160 --> 00:13:55,200 I was indifferent to the amount of stake I possessed. 246 00:13:55,640 --> 00:13:57,680 So, of course, this is a valid point. 247 00:13:57,880 --> 00:14:01,720 And I am making it very clear that the bet is on you, Anoushka. 248 00:14:02,400 --> 00:14:06,280 I saw your content on Instagram, resilience, 249 00:14:06,520 --> 00:14:08,000 and fighting spirit. 250 00:14:08,240 --> 00:14:09,280 Therefore, I believe 251 00:14:09,440 --> 00:14:11,880 I should support you and assist you with your future endeavours. 252 00:14:11,960 --> 00:14:13,960 I can't tell you what that product will be. 253 00:14:15,120 --> 00:14:19,280 I don't like the fact that your products have so many typos. 254 00:14:19,440 --> 00:14:22,040 That shows a lack of rigour. 255 00:14:23,040 --> 00:14:25,320 But that story you shared about your persistence... 256 00:14:25,560 --> 00:14:29,040 That is pushing me to reconsider because that is crazy. 257 00:14:29,400 --> 00:14:30,640 If I were to take a bet, 258 00:14:30,800 --> 00:14:32,280 it would have to be 259 00:14:33,240 --> 00:14:34,800 Rs. 50 lakhs at 50%. 260 00:14:36,160 --> 00:14:37,200 Co-founder. 261 00:14:37,600 --> 00:14:40,240 Why not 51? Because then you get... 262 00:14:40,320 --> 00:14:42,400 Rs. 51 lakhs at 51%. 263 00:14:54,240 --> 00:14:56,440 Because there is an investor mindset, 264 00:14:56,480 --> 00:14:59,480 which I don't want to bring to your mind right now. Okay? 265 00:14:59,640 --> 00:15:02,240 You will run around, chase after it and crunch the numbers. 266 00:15:02,320 --> 00:15:04,200 It is not right for me 267 00:15:04,720 --> 00:15:05,800 to secure a 25% stake. 268 00:15:06,160 --> 00:15:07,920 So, unfortunately, I am out. 269 00:15:08,000 --> 00:15:09,720 [suspenseful music playing] 270 00:15:11,000 --> 00:15:13,600 May I call my dad and run this through? 271 00:15:13,680 --> 00:15:16,120 - Yes, you absolutely must. - Please go ahead. 272 00:15:16,440 --> 00:15:18,640 [suspenseful music playing] 273 00:15:20,200 --> 00:15:23,480 But Vineeta, on a serious note, why haven't you entered this category? 274 00:15:23,560 --> 00:15:25,640 - Because it is a small category. - You are selling nail paint, right? 275 00:15:25,760 --> 00:15:27,040 - Small! - It's a small category. 276 00:15:29,520 --> 00:15:31,080 [suspenseful music playing] 277 00:15:34,360 --> 00:15:35,440 Decision time! 278 00:15:35,560 --> 00:15:37,200 [suspenseful music playing] 279 00:15:39,160 --> 00:15:40,360 Peyush, you have a deal. 280 00:15:48,200 --> 00:15:49,640 - Thank you! - Congratulations. 281 00:15:49,720 --> 00:15:51,680 [upbeat music playing] 282 00:15:57,280 --> 00:16:00,000 - Alright! Good job! - Alright, Vineeta. We are coming. 283 00:16:00,120 --> 00:16:02,720 - Come! Come to the battlefield. - We are going to give it to you. 284 00:17:19,760 --> 00:17:22,000 [music playing] 285 00:17:25,600 --> 00:17:28,640 Sharks, I tried treading on the right path. 286 00:17:28,760 --> 00:17:31,240 But we have so many potholes on the street 287 00:17:31,360 --> 00:17:32,640 that I couldn't do it. 288 00:17:33,080 --> 00:17:34,880 Forget me, even my car 289 00:17:35,120 --> 00:17:37,920 has bumped so many times that it has given up. 290 00:17:38,560 --> 00:17:40,240 But there's a question. 291 00:17:40,480 --> 00:17:42,400 When will our roads be fine? 292 00:17:42,760 --> 00:17:45,200 It's not that they're not mended. 293 00:17:45,440 --> 00:17:47,520 Yet they break time and again. 294 00:17:47,800 --> 00:17:49,000 Why so? 295 00:17:49,280 --> 00:17:50,240 I'll tell you. 296 00:17:50,360 --> 00:17:52,680 Our roads are of three kinds, 297 00:17:53,080 --> 00:17:54,440 one is made of bitumen, 298 00:17:59,080 --> 00:18:01,640 Bitumen roads need to be repaired every 2-3 years. 299 00:18:01,720 --> 00:18:03,160 They have to be remade often. 300 00:18:03,680 --> 00:18:06,880 Concrete roads are 2-3 times more expensive. 301 00:18:07,120 --> 00:18:09,200 And pavers is high maintenance. 302 00:18:09,440 --> 00:18:10,400 Also, 303 00:18:10,520 --> 00:18:13,120 making them leads to high carbon emission. 304 00:18:13,240 --> 00:18:15,560 It's harmful for our environment. 305 00:18:15,880 --> 00:18:17,600 So, there's no product 306 00:18:17,720 --> 00:18:20,360 that's sustainable, cheap, 307 00:18:20,600 --> 00:18:21,880 and maintenance-free. 308 00:18:21,960 --> 00:18:22,880 We have it now. 309 00:18:23,040 --> 00:18:26,880 We have brought a product for our population of 140 crores 310 00:18:27,000 --> 00:18:29,720 that will make their daily commute easy. 311 00:18:29,960 --> 00:18:31,920 Greetings, Sharks. I'm Sourabh. 312 00:18:39,080 --> 00:18:41,480 GridMats in an innovative product 313 00:19:18,880 --> 00:19:20,400 One more important feature. 314 00:19:20,560 --> 00:19:22,280 Our mat is so strong 315 00:19:22,400 --> 00:19:26,520 that it can even take the weight of a 400-tonne Boeing 747. 316 00:19:26,600 --> 00:19:29,320 - Nice. - When we started the company, 317 00:19:29,400 --> 00:19:31,440 our main focus was to fix potholes. 318 00:19:31,640 --> 00:19:33,720 The realisation we had was 319 00:19:33,840 --> 00:19:35,840 that corrective maintenance alone does not suffice. 320 00:19:36,000 --> 00:19:38,360 Preventive maintenance is the solution. 321 00:19:38,440 --> 00:19:40,160 So, after a lot of research, 322 00:19:40,360 --> 00:19:45,240 we invented GridMats for use in road construction. 323 00:19:45,320 --> 00:19:46,160 Hmm. 324 00:19:46,240 --> 00:19:47,800 Today, we use GridMats 325 00:19:47,920 --> 00:19:50,520 to attain road construction projects. 326 00:19:50,680 --> 00:19:53,640 We want to take GridMats to the global level 327 00:19:53,720 --> 00:19:56,880 and revolutionise road infrastructure development. 328 00:19:57,520 --> 00:20:01,360 Sharks, our ask is Rs. 5 crores for 2% equity. 329 00:20:17,720 --> 00:20:18,800 - I'm asking seriously. - Please answer. 330 00:20:18,840 --> 00:20:20,880 How can you ask for a valuation of Rs. 250 crores? 331 00:20:21,400 --> 00:20:24,040 Based on the market size and where we currently stand. 332 00:20:24,120 --> 00:20:25,320 Do you have a revenue of Rs. 100 crores? 333 00:20:40,920 --> 00:20:41,840 - Go on. - Correct. 334 00:20:42,000 --> 00:20:43,600 We have quite a few projects. 335 00:20:43,720 --> 00:20:46,400 Owing to R&D and some pending certifications, 336 00:20:46,520 --> 00:20:48,720 we are not getting big projects as of now. 337 00:20:48,840 --> 00:20:50,640 The clients are willing to work with us. 338 00:20:50,920 --> 00:20:53,280 Speaking of our projected sales for next year. 339 00:20:53,640 --> 00:20:55,400 If we get our pending certifications, 340 00:20:55,520 --> 00:20:56,840 hence our ask, 341 00:20:57,160 --> 00:21:00,280 then our revenue will be Rs. 40 to 50 crores annually. 342 00:21:00,400 --> 00:21:03,760 Our projected revenue post that will be crossing Rs. 100 crores. 343 00:21:03,880 --> 00:21:06,680 We've been in this business for almost six years now. 344 00:21:06,760 --> 00:21:08,720 Our entire market is in real estate currently. 345 00:21:08,840 --> 00:21:09,800 No, that's fine. 346 00:21:09,880 --> 00:21:11,280 Why should we believe 347 00:21:11,320 --> 00:21:13,920 that you will go from Rs. 6 crores to Rs. 40 crores revenue next year? 348 00:21:15,160 --> 00:21:18,480 Do you have purchase orders in writing? 349 00:21:18,560 --> 00:21:19,400 This is quite recent. 350 00:21:19,480 --> 00:21:22,240 A big real estate developer who is among the top five in Bengaluru... 351 00:21:22,320 --> 00:21:24,560 The negotiations were all done with. 352 00:21:24,640 --> 00:21:26,120 They had a very small project 353 00:21:26,240 --> 00:21:28,600 whose order value was around Rs. 5.5 crores. 354 00:21:28,680 --> 00:21:30,720 The negotiations were done and the round was closed. 355 00:21:30,880 --> 00:21:33,640 Ultimately, we didn't get the project 356 00:21:33,760 --> 00:21:37,480 as they required a certification from the government agencies 357 00:21:37,560 --> 00:21:39,680 that using our product... 358 00:21:39,800 --> 00:21:42,160 It was meant to be a public access road. 359 00:21:42,240 --> 00:21:43,480 For that, we need that. 360 00:21:43,560 --> 00:21:46,720 Now that certification requires a huge investment. 361 00:21:46,840 --> 00:21:48,600 So, we need to make a road of about a kilometre... 362 00:21:48,720 --> 00:21:50,760 So, the answer to her question is no, right? 363 00:21:50,840 --> 00:21:53,280 - You don't have booked orders in writing. - Not in writing 364 00:21:53,360 --> 00:21:55,400 - because of this reason. - That's all I wanted to know. 365 00:21:55,480 --> 00:21:56,440 - Thanks. - That's all she wanted. 366 00:21:56,560 --> 00:21:59,400 Sourabh and Dr. Prathap, sorry. I am out. 367 00:22:00,080 --> 00:22:02,200 I have no interest in asking you 368 00:22:02,320 --> 00:22:04,480 why your revenue dropped from Rs. 10 crores to Rs. 5 crores. 369 00:22:04,560 --> 00:22:06,440 With that revenue, you want a valuation of 250 crores. 370 00:22:06,560 --> 00:22:09,480 You have a big ask with a very low revenue. 371 00:22:10,800 --> 00:22:12,000 I don't want to understand the product either. 372 00:22:12,080 --> 00:22:14,800 I've seen such big innovations in Shark Tank. 373 00:22:15,080 --> 00:22:17,240 I've heard 300 to 350 pitches in three years, 374 00:22:17,320 --> 00:22:18,880 but no one asked for an unreasonable valuation. 375 00:22:18,960 --> 00:22:20,280 Unfortunately, I am out. 376 00:22:20,880 --> 00:22:22,560 Sourabh and Dr. Prathap, 377 00:22:22,720 --> 00:22:25,560 we'll give you the benefit of the doubt. 378 00:22:25,640 --> 00:22:27,080 Also, without disturbing you, 379 00:22:27,200 --> 00:22:29,640 we'll hear a little about your product 380 00:22:29,720 --> 00:22:31,000 without judging the valuation 381 00:22:31,080 --> 00:22:32,520 and keeping it out of the picture right now. 382 00:22:33,760 --> 00:22:35,160 Let me tell you the differentiator. 383 00:22:35,240 --> 00:22:38,480 We claim our roads are 25% cheaper. 384 00:22:38,560 --> 00:22:40,600 - That's possible because... - You don't use steel. 385 00:22:40,760 --> 00:22:41,760 For two reasons, Anupam. 386 00:22:41,840 --> 00:22:43,720 Firstly, as you rightly said, we don't use steel. 387 00:22:43,840 --> 00:22:45,360 This is the cross section of our road 388 00:22:45,480 --> 00:22:47,120 and this is that of a traditional road. 389 00:22:47,240 --> 00:22:50,560 If you look at the thickness of these layers, 390 00:22:50,760 --> 00:22:53,400 - it is almost double that of our road's thickness. - Right. 391 00:22:53,480 --> 00:22:56,720 This is a steel reinforcement and then you have a concrete layer. 392 00:22:57,120 --> 00:22:58,560 Now, why this thickness? 393 00:22:58,640 --> 00:23:01,720 It should be able to bear the load of the traffic, whatever it may be. 394 00:23:01,800 --> 00:23:03,520 That determines the thickness of the road. 395 00:23:03,720 --> 00:23:05,280 In our case, 396 00:23:05,400 --> 00:23:08,320 the thickness is 50% in comparison to theirs. Why so? 397 00:23:08,440 --> 00:23:09,960 Ours is a honeycomb design. 398 00:23:10,040 --> 00:23:13,120 The speciality of this is, in the case of a point load, 399 00:23:13,400 --> 00:23:16,200 the load gets equally distributed across the panel. 400 00:23:16,360 --> 00:23:18,320 So, our roads look good too. 401 00:23:18,400 --> 00:23:20,200 - Is this the final look of the road? - Yes, it is. 402 00:23:37,840 --> 00:23:39,640 on account of heavy vehicle movement. 403 00:23:39,960 --> 00:23:41,480 That damages the roads. 404 00:23:41,560 --> 00:23:42,760 So, that's a double investment for them. 405 00:23:42,880 --> 00:23:45,040 However, if any construction project is delayed, 406 00:23:45,120 --> 00:23:46,720 they suffer huge losses. 407 00:23:47,040 --> 00:23:48,960 So, they want temporary access roads. 408 00:23:49,440 --> 00:23:52,920 And this is going to be India's first rental road platform. 409 00:24:00,960 --> 00:24:03,640 You put this on a flat surface and use it for commute. 410 00:24:03,720 --> 00:24:05,560 When you don't need it any more, you can return it to us. 411 00:24:05,680 --> 00:24:07,840 What is the base on which the temporary road will hold? 412 00:24:07,920 --> 00:24:10,760 You merely need to use a roller to flatten the surface 413 00:24:10,880 --> 00:24:12,600 and then lay this on it. 414 00:24:12,680 --> 00:24:15,000 Suppose there is an existing road with potholes. 415 00:24:15,080 --> 00:24:17,520 Can't I repair it and put this on that? 416 00:24:17,640 --> 00:24:20,640 No. Right now, it is being used for fresh permanent construction. 417 00:24:20,760 --> 00:24:23,120 Can we lay them on some of our investments? 418 00:24:23,840 --> 00:24:25,320 Bad investments! [laugh] 419 00:24:25,720 --> 00:24:28,240 - Bad investments! - Good one! 420 00:24:28,600 --> 00:24:30,760 You're no longer PotHoleRaja. 421 00:24:30,760 --> 00:24:34,120 PotHoleRaja still exists for all the public roads. 422 00:24:38,000 --> 00:24:40,520 was a volunteering and citizen engagement activity 423 00:24:40,600 --> 00:24:42,800 and CSR for employee engagement. 424 00:24:42,920 --> 00:24:46,360 - So, you take money from companies and enterprises. - Yes. 425 00:24:46,480 --> 00:24:48,200 - And fix potholes. - Yes. 426 00:24:48,240 --> 00:24:50,040 - In which cities? - Across 30 cities, 427 00:25:04,680 --> 00:25:06,840 Out of our revenue of Rs. 4.5 crores, 428 00:25:19,240 --> 00:25:20,480 It is a known fact 429 00:25:20,600 --> 00:25:23,120 - that honeycomb structures are very strong. - Yes. 430 00:25:23,240 --> 00:25:24,960 So, I refuse to believe 431 00:25:25,520 --> 00:25:27,400 that no one thought about it. 432 00:25:27,680 --> 00:25:30,120 So, there must be another reason it is not used in making roads. 433 00:25:30,200 --> 00:25:33,040 As of now, in road infrastructure development, 434 00:25:33,120 --> 00:25:35,240 there is no innovation in the material science. 435 00:25:35,480 --> 00:25:37,520 That's why we got a patent for this as well. 436 00:25:37,640 --> 00:25:38,800 - Now... - A patent for what? 437 00:25:38,880 --> 00:25:40,520 - Design... - A design and process patent. 438 00:25:40,600 --> 00:25:41,440 In India? 439 00:25:51,320 --> 00:25:52,720 If you have a crack 440 00:25:52,800 --> 00:25:54,800 and wish to repair it after three to five years, 441 00:25:54,920 --> 00:25:57,720 they take off a layer which is followed by milling. 442 00:25:57,800 --> 00:25:59,640 Then they add a fresh layer, which is not done here. 443 00:25:59,720 --> 00:26:01,800 - Is that the case in the US too? - Yes, it is. 444 00:26:01,880 --> 00:26:04,120 What are your roles? Are you co-founders? 445 00:26:45,760 --> 00:26:48,240 usually such products are expensive. 446 00:26:48,520 --> 00:26:50,480 Yours is 25% cheaper. 447 00:26:50,560 --> 00:26:51,400 - True. - Right? 448 00:26:51,600 --> 00:26:54,160 - This should have exploded in sales. - Yes. 449 00:26:54,400 --> 00:26:55,240 Why didn't it? 450 00:26:55,760 --> 00:26:57,000 When we talk about big projects 451 00:26:57,080 --> 00:26:59,160 whose project value is over Rs. 10 crores, 452 00:26:59,240 --> 00:27:01,600 a certain certification is required 453 00:27:01,680 --> 00:27:04,160 which requires at least Rs. 2 to 2.5... 454 00:27:04,240 --> 00:27:06,760 - How much is the investment? - About Rs. 2 to 2.5 crores. 455 00:27:06,880 --> 00:27:09,280 - How much time will it take? - A year. 456 00:27:09,520 --> 00:27:11,040 You could have taken a bank loan, 457 00:27:11,120 --> 00:27:13,680 exploded the market and gotten pre-orders. 458 00:27:13,760 --> 00:27:15,600 We don't have PO's in writing. 459 00:27:15,720 --> 00:27:17,520 If it is not in writing, then it is no good. 460 00:27:17,600 --> 00:27:18,760 Verbal means nothing. 461 00:27:18,840 --> 00:27:20,040 You know, I am out. 462 00:27:20,320 --> 00:27:21,680 I respect the fact 463 00:27:21,760 --> 00:27:23,600 that you're out to do something good. 464 00:27:23,880 --> 00:27:26,640 Potholes are genuinely a big issue in our country. 465 00:27:26,720 --> 00:27:28,000 My problem is 466 00:27:28,120 --> 00:27:31,960 that business acumen is very important in founders. 467 00:27:32,040 --> 00:27:34,080 I cannot put my money into a business 468 00:27:34,160 --> 00:27:37,440 just on hope, aspirations or a positive dream. 469 00:27:37,560 --> 00:27:40,760 I don't see visibility for a Rs. 250 crore valuation. 470 00:27:42,120 --> 00:27:43,240 Work on yourself. 471 00:27:43,320 --> 00:27:45,480 Figure out some business acumen and logic 472 00:27:45,600 --> 00:27:47,400 and then approach investors. 473 00:27:47,480 --> 00:27:49,560 - That's my sincere request to you. - Sure. 474 00:27:49,680 --> 00:27:51,160 For today, I am out. 475 00:27:51,920 --> 00:27:53,640 You are doing something innovative, 476 00:27:53,840 --> 00:27:56,800 but somewhere, there is a problem which we cannot understand. 477 00:27:57,000 --> 00:27:58,720 If the product is good, 478 00:27:58,800 --> 00:28:03,600 then strategic investors like L&T can help you. 479 00:28:03,720 --> 00:28:06,640 I don't know in what way I can help you. 480 00:28:06,720 --> 00:28:08,600 You need to figure out why 481 00:28:08,800 --> 00:28:11,800 your current investors, L&T, would give you an advance 482 00:28:11,920 --> 00:28:14,440 and not bring this product in the market. 483 00:28:14,760 --> 00:28:16,840 There's nothing I can help you with. So, I am out. 484 00:28:17,760 --> 00:28:19,160 Sourabh and Dr. Prathap, 485 00:28:19,240 --> 00:28:20,440 I think at this point, 486 00:28:20,520 --> 00:28:24,400 gauging if this is a breakthrough product is hard. 487 00:28:24,520 --> 00:28:26,080 So, I am also out. 488 00:28:26,200 --> 00:28:28,440 I really hope you win. Best of luck. 489 00:28:29,520 --> 00:28:30,960 You're very theoretical. 490 00:28:31,520 --> 00:28:34,520 You know the incentive system 491 00:28:34,600 --> 00:28:36,520 in infrastructure and road projects. 492 00:28:36,640 --> 00:28:38,800 If your roads don't require any repairing, 493 00:28:38,880 --> 00:28:40,120 how will the contractors make money? 494 00:28:40,240 --> 00:28:43,760 It is very important for a start-up to know their paying customers. 495 00:28:43,880 --> 00:28:46,320 Our paying customers are not who you're talking about. 496 00:28:46,440 --> 00:28:47,560 Our paying customers 497 00:29:01,720 --> 00:29:03,040 They want to make it once 498 00:29:03,120 --> 00:29:04,920 and forget about maintenance for the next 20 years. 499 00:29:05,080 --> 00:29:06,520 That's a big market. 500 00:29:06,600 --> 00:29:08,960 I believe you should approach an IP-based investor 501 00:29:09,040 --> 00:29:12,760 who knows how to commercialise technology. 502 00:29:13,160 --> 00:29:17,040 To get Rs. 5 crores from here at this stage 503 00:29:17,800 --> 00:29:18,880 is very difficult. 504 00:29:19,120 --> 00:29:21,760 Yes? You're at least a couple of years away 505 00:29:22,080 --> 00:29:23,720 from getting a certification 506 00:29:24,400 --> 00:29:26,360 and to start establishing a business. 507 00:29:26,640 --> 00:29:28,480 So, your sales cycle is going to be very long. 508 00:29:29,200 --> 00:29:30,560 I'm out for that reason. 509 00:32:53,720 --> 00:32:54,880 [theme music playing] 510 00:33:10,920 --> 00:33:12,400 [theme music concludes] 511 00:33:12,880 --> 00:33:14,280 - Greetings, Sharks. - Greetings, Sharks. 512 00:33:22,200 --> 00:33:23,640 [music playing] 513 00:33:27,160 --> 00:33:30,240 Hang on. You're Sundeep and I'm Akashdeep. 514 00:33:30,320 --> 00:33:32,160 - Who is Uncle Peter? - [chuckles] 515 00:33:32,400 --> 00:33:36,600 In 2018, Akashdeep and I stayed in a homestay in Manali. 516 00:33:36,720 --> 00:33:39,480 We met an American there by the name of Mr. Peter. 517 00:33:39,600 --> 00:33:40,760 [Sharks laugh] 518 00:33:41,640 --> 00:33:42,920 When he heard 519 00:33:43,120 --> 00:33:46,280 that we were exploring the pancake market, 520 00:33:46,400 --> 00:33:47,720 he got really excited. 521 00:33:47,800 --> 00:33:52,000 He made authentic pancakes for us very lovingly. 522 00:33:52,080 --> 00:33:53,400 Believe me, Sharks, 523 00:33:53,480 --> 00:33:55,560 we had never eaten such tasty pancakes. 524 00:33:55,680 --> 00:33:56,560 Nice story. 525 00:33:56,640 --> 00:34:00,240 Unfortunately, we could not contact Mr. Peter again, 526 00:34:00,320 --> 00:34:03,880 but when it was time to name the brand, 527 00:34:04,040 --> 00:34:07,200 we decided that the name ought to have Peter in it. 528 00:34:07,480 --> 00:34:08,360 Gosh! 529 00:34:08,480 --> 00:34:09,920 Sharks, did you know 530 00:34:10,000 --> 00:34:13,360 that pancakes are among one of the oldest dishes in the world? 531 00:34:13,720 --> 00:34:16,040 It was first made during the ancient Greek civilisation 532 00:34:16,160 --> 00:34:18,600 using flour and milk. 533 00:34:18,720 --> 00:34:21,480 It is famous all around the world by different names. 534 00:34:21,560 --> 00:34:23,160 For instance, 'serabi' in Indonesia 535 00:34:23,280 --> 00:34:25,080 and hot cakes in Mexico. 536 00:34:25,160 --> 00:34:27,200 Pancakes are also made from a cake-like batter, 537 00:34:27,280 --> 00:34:30,640 but instead of an oven, it is made in a hot pan. 538 00:34:30,840 --> 00:34:32,480 These world-famous pancakes 539 00:34:32,600 --> 00:34:35,360 are only available in India in select restaurants even today. 540 00:34:35,440 --> 00:34:38,720 That too, only in the same boring two or three variants. 541 00:34:38,800 --> 00:34:41,760 So, we started Uncle Peter's Pancakes, 542 00:34:55,800 --> 00:34:58,680 Sharks, Indians are very fond of variety. 543 00:35:04,840 --> 00:35:06,800 Isn't your mouth watering, Sharks? 544 00:35:07,000 --> 00:35:07,840 Not just that, 545 00:35:18,360 --> 00:35:21,600 We put in a lot of hard work to perfect this recipe. 546 00:35:45,840 --> 00:35:47,520 - We'll come there and watch you. - Sure. 547 00:35:47,640 --> 00:35:48,920 [music playing] 548 00:35:50,240 --> 00:35:52,840 First, we set the temperature of the pan. 549 00:35:54,400 --> 00:35:57,080 He's pouring a batter on the pan 550 00:36:07,800 --> 00:36:11,120 The chemicals and other products that came to us 551 00:36:11,200 --> 00:36:15,240 lent an aftertaste to the pancakes which we just didn't like. 552 00:36:15,400 --> 00:36:18,440 So, we actually haven't added anything extra right now. 553 00:36:29,560 --> 00:36:31,240 Don't give us what Anupam is making, please. 554 00:36:31,360 --> 00:36:33,840 - Give it to me. - It looks like it's going to turn out bad. 555 00:36:34,200 --> 00:36:35,160 Very thick! 556 00:36:36,680 --> 00:36:38,200 Are you ready to taste it? 557 00:36:38,280 --> 00:36:39,160 - Yes! - Sure. 558 00:36:39,240 --> 00:36:40,520 - We've been waiting. - Thank you, chef. 559 00:36:40,760 --> 00:36:41,960 I love pancakes. 560 00:36:42,120 --> 00:36:44,840 - I love mini pancakes. - Oh, yum! Yum... 561 00:36:44,920 --> 00:36:46,680 - Why does he get the fruit pancake? - Wow! 562 00:36:46,800 --> 00:36:48,840 - I want this one. - No! That's mine. 563 00:36:49,400 --> 00:36:50,640 It has my name on it. 564 00:36:50,720 --> 00:36:52,320 - Okay, I won't... - Hello! Don't steal it. 565 00:36:52,480 --> 00:36:53,880 - I'll give you some. - We'll share it. 566 00:36:54,000 --> 00:36:55,200 We have that equation. 567 00:36:55,280 --> 00:36:56,800 We get insulted by the same people too. 568 00:36:56,840 --> 00:36:57,960 [both giggle] 569 00:36:58,360 --> 00:37:00,600 Thank you. Looks lovely! 570 00:37:02,600 --> 00:37:05,080 Look at how good-looking mine... Oh! Yours is also nice. 571 00:37:05,200 --> 00:37:06,080 Show. 572 00:37:06,200 --> 00:37:07,920 Look at the silhouette of the fork. 573 00:37:07,960 --> 00:37:09,840 Oh, nice! 574 00:37:09,960 --> 00:37:11,200 [pleasant music playing] 575 00:37:12,520 --> 00:37:13,800 Hmm, yummy! 576 00:37:14,000 --> 00:37:15,520 [pleasant music playing] 577 00:37:18,440 --> 00:37:19,640 Is this the wheat one or the oat one? 578 00:37:19,760 --> 00:37:21,240 I gave you the oat flour one. 579 00:37:21,320 --> 00:37:22,360 It's amazing. 580 00:37:22,520 --> 00:37:25,400 I thought this was wheat but this is really yum. 581 00:37:27,360 --> 00:37:28,920 He stole the whole pancake. 582 00:37:29,320 --> 00:37:30,600 The entire pancake! 583 00:37:30,680 --> 00:37:32,600 This is wheat and that's oat. So, I'm trying it. 584 00:37:33,600 --> 00:37:34,520 Delicious. 585 00:37:38,760 --> 00:37:41,520 There's one more company in India. 586 00:37:41,600 --> 00:37:43,360 - 99 Pancakes. - 99 Pancakes. Yes. 587 00:37:43,480 --> 00:37:48,320 - Yes. 99 Pancakes's segment is different from ours. - Okay. 588 00:37:48,440 --> 00:37:49,600 They have mini pancakes. 589 00:37:49,800 --> 00:37:51,680 - Like waffles. - Made in machines. 590 00:37:51,800 --> 00:37:53,600 They're known as Holland Pancakes 591 00:37:53,720 --> 00:37:56,880 which make up a very small portion of the entire pancake family. 592 00:37:57,000 --> 00:37:59,160 What you've made are mini pancakes too. 593 00:37:59,280 --> 00:38:02,200 These are coin pancakes or cereal bowl pancakes. 594 00:38:02,320 --> 00:38:04,240 You've got a degree in pancakes! 595 00:38:04,320 --> 00:38:05,400 [laughter] 596 00:38:05,480 --> 00:38:06,840 He's our Uncle Peter. 597 00:38:07,000 --> 00:38:08,320 [laughs] 598 00:38:12,840 --> 00:38:15,880 We started in 2019 with a cloud kitchen outlet 599 00:38:32,800 --> 00:38:34,920 It's present in two malls in Pune. Amanora Mall. 600 00:38:35,000 --> 00:38:35,960 What about QSR? 601 00:38:36,080 --> 00:38:38,720 QSR is in metro cities, like Bengaluru, 602 00:38:38,840 --> 00:38:40,560 Gurugram, Kolkata, 603 00:38:40,640 --> 00:38:43,120 Pondicherry, Lucknow, Ahmedabad, 604 00:38:43,200 --> 00:38:44,280 Jalandhar, Ludhiana. 605 00:38:44,360 --> 00:38:46,120 Are these all owned outlets? 606 00:38:46,200 --> 00:38:48,920 They work in company-owned and franchise models. 607 00:39:11,200 --> 00:39:12,800 Do you know those Sharks? 608 00:39:15,080 --> 00:39:16,120 What are the numbers like? 609 00:39:28,160 --> 00:39:29,320 So your unit economics, 610 00:39:29,400 --> 00:39:30,320 - revenue-- - Wait, let's understand 611 00:39:30,320 --> 00:39:31,880 the franchise model first. Hold on. 612 00:39:49,040 --> 00:39:51,960 Initially, the franchisee fee is Rs 5 lakhs. 613 00:40:05,400 --> 00:40:06,880 How much do you earn monthly? 614 00:40:06,960 --> 00:40:09,400 They need 15-18 months on an average 615 00:40:09,480 --> 00:40:10,280 to recover the money. 616 00:40:19,880 --> 00:40:21,000 Share the whole economics. 617 00:40:46,400 --> 00:40:47,720 Ideally, we say 618 00:40:47,800 --> 00:40:50,800 that you can make Rs 80,000 to 1,20,000 monthly. 619 00:40:50,880 --> 00:40:52,320 - Roughly. - If you're doing it right. 620 00:40:52,400 --> 00:40:54,560 You can't earn Rs 80,000 on Rs 5 lakhs. 621 00:40:54,640 --> 00:40:56,480 I'm not convinced. 622 00:40:58,560 --> 00:41:00,680 Because the rent you're quoting. Rs 50,000. 623 00:41:00,800 --> 00:41:02,320 It's not the same. 624 00:41:02,400 --> 00:41:03,920 - In the last 2-3 months, - No. 625 00:41:03,920 --> 00:41:06,280 Indian rentals have gone through the roof. 626 00:41:06,520 --> 00:41:09,400 Tell me honestly. How many people are making Rs 80,000 profit? 627 00:41:14,480 --> 00:41:16,920 No, how many people are making Rs 80,000 profit? 628 00:41:17,200 --> 00:41:18,320 25 per cent of people. 629 00:41:18,400 --> 00:41:19,440 - Only 5, right? - Yes. 630 00:41:19,520 --> 00:41:20,840 - Exactly. - 25 per cent. 631 00:41:20,840 --> 00:41:21,720 Not that much. 632 00:41:22,320 --> 00:41:25,120 So, what's your current sales? 633 00:41:25,200 --> 00:41:26,800 What's the profitability? 634 00:41:26,880 --> 00:41:28,680 So far, our sales are Rs 30 crores. 635 00:41:28,800 --> 00:41:30,720 At the brand level, combining all outlets. 636 00:41:30,800 --> 00:41:31,720 Consumer sales, right? 637 00:41:31,840 --> 00:41:33,600 - Not franchisee fee. - Yes, consumer sales. 638 00:42:07,520 --> 00:42:10,400 Our outlet at Indiranagar, Bengaluru, gives us 639 00:42:10,480 --> 00:42:11,960 almost Rs 18 lakhs per month. 640 00:42:12,040 --> 00:42:13,320 What about the other 4? 641 00:42:13,440 --> 00:42:16,040 One is Rs 18 lakhs. One is Rs 10 lakhs. 642 00:42:16,120 --> 00:42:18,280 One of our outlets makes Rs 6 lakhs. 643 00:42:18,360 --> 00:42:19,840 And one is around Rs 8 lakhs. 644 00:42:19,920 --> 00:42:21,560 How much profit remains for the one that makes Rs 6 lakhs? 645 00:42:21,680 --> 00:42:22,800 Around 10-12 per cent. 646 00:42:22,920 --> 00:42:24,360 What's the profit for the one that makes Rs 18 lakhs? 647 00:42:24,480 --> 00:42:26,160 Around 20 per cent. 648 00:42:26,280 --> 00:42:28,360 Then why are you giving franchise? Open your outlets. 649 00:42:29,960 --> 00:42:31,880 We want to expand quickly. 650 00:42:31,960 --> 00:42:34,040 So, we will need a big team. 651 00:42:34,120 --> 00:42:35,120 In different cities. 652 00:42:35,200 --> 00:42:36,680 But why do you want to do this? 653 00:42:43,160 --> 00:42:45,680 We had two outlets in Bengaluru until last year. 654 00:42:45,760 --> 00:42:47,440 We have 10 outlets there now. 655 00:42:47,560 --> 00:42:50,200 So, cities that already have outlets, 656 00:42:50,280 --> 00:42:52,680 we want to capitalize on that first 657 00:42:52,760 --> 00:42:54,200 and then enter a newer market. 658 00:42:55,520 --> 00:42:56,680 How much profit do you make? 659 00:42:56,760 --> 00:42:58,760 How much do you earn? We didn't get there. 660 00:42:58,840 --> 00:43:01,120 Sir, last year, our revenue of Rs 5 crores, 661 00:43:13,560 --> 00:43:15,760 Are you paying yourself? Do you both draw salaries? 662 00:43:15,840 --> 00:43:17,400 - Yes, Sir. - Rs 1 lakh each. 663 00:43:17,480 --> 00:43:19,000 You must've raised funds too. 664 00:43:19,080 --> 00:43:20,200 - So far, bootstrapped. - Bootstrapped. 665 00:43:25,720 --> 00:43:27,120 and then raise funds 666 00:43:27,200 --> 00:43:29,800 so that even the investor is confident 667 00:43:29,880 --> 00:43:31,640 that money can be made here. 668 00:43:31,720 --> 00:43:32,960 That's very good. 669 00:43:38,640 --> 00:43:40,360 So, I'll make you an offer. 670 00:43:40,440 --> 00:43:41,680 [music playing] 671 00:43:42,000 --> 00:43:44,120 Is 18 per cent EBITDA profitable? 672 00:43:44,200 --> 00:43:47,480 The valuation is making me uncomfortable at Rs 30 crores. 673 00:43:47,960 --> 00:43:51,120 I think the right valuation for you is about Rs 15 crores. 674 00:43:51,920 --> 00:43:53,840 So Rs 60 lakhs at 4 per cent. 675 00:43:53,920 --> 00:43:56,880 - And because you're profitable - [chuckling] 676 00:43:57,160 --> 00:43:58,840 I want to secure my money. 677 00:44:00,760 --> 00:44:02,640 So Rs 60 lakhs for 4 per cent. 678 00:44:02,760 --> 00:44:04,280 And I'll take 3 per cent royalty 679 00:44:04,360 --> 00:44:05,960 not on brand revenue. 680 00:44:06,040 --> 00:44:09,120 Because we won't put this pressure on them. 681 00:44:09,280 --> 00:44:11,240 Right? We want to make sure our franchise is doing well. 682 00:44:11,360 --> 00:44:13,320 - Right. - So only on the company. 683 00:44:13,320 --> 00:44:15,160 Royalty until I make 1.5 times of my investment. 684 00:44:22,800 --> 00:44:24,720 - You're right. - Too much. 685 00:44:29,680 --> 00:44:30,840 - [laughing] - [chuckling] So... 686 00:44:30,920 --> 00:44:32,080 Best reason. 687 00:44:32,160 --> 00:44:35,120 So, I won't be of much help. 688 00:44:35,200 --> 00:44:36,400 So, I'm out. 689 00:44:36,480 --> 00:44:38,480 You might not have met Uncle Peter again, 690 00:44:38,480 --> 00:44:40,320 but now you've Uncle Anupam with you. 691 00:44:41,480 --> 00:44:43,520 Anupam is everyone's daddy. 692 00:44:43,720 --> 00:44:45,720 - I'm out. - Thank you. 693 00:44:51,240 --> 00:44:53,000 Rs 60 lakhs for 2 per cent, 694 00:44:53,000 --> 00:44:54,880 - matching your ask. - Wow. 695 00:44:54,960 --> 00:44:56,800 The royalty terms are same. 696 00:44:56,880 --> 00:44:58,720 3 per cent of net revenue. 697 00:44:59,600 --> 00:45:01,160 Till 1.5x. 698 00:45:15,760 --> 00:45:17,400 What will you match now? 699 00:45:17,960 --> 00:45:19,680 Rs 60 lakhs for 2 per cent. 700 00:45:20,600 --> 00:45:22,120 1.5x royalty. 701 00:45:31,240 --> 00:45:32,600 Peyush is still there. 702 00:45:32,680 --> 00:45:34,080 No, it can. 703 00:45:34,160 --> 00:45:35,400 Sell Parathas instead. 704 00:45:35,480 --> 00:45:37,520 - It's not a bad idea. - Hey... 705 00:45:37,600 --> 00:45:39,200 At every Lenskart store, 706 00:45:39,280 --> 00:45:41,320 we'll set up a pancake kiosk. 707 00:45:41,760 --> 00:45:43,600 - [laughing] - Peyush, I have an idea. 708 00:45:43,680 --> 00:45:46,080 Let's start a Paratha joint together. 709 00:45:46,160 --> 00:45:48,320 Let it be. Who pays so much? 710 00:45:52,480 --> 00:45:55,760 I think the numbers are amiss. 711 00:45:55,840 --> 00:45:58,320 I'm unable to understand the profit. So, I'm out. But 712 00:45:58,400 --> 00:45:59,800 you've good offers. 713 00:46:00,360 --> 00:46:01,840 Decide quickly. 714 00:46:01,920 --> 00:46:04,640 [music playing] 715 00:46:06,840 --> 00:46:08,360 We'd like 716 00:46:08,480 --> 00:46:11,160 all three of you to come onboard. 717 00:46:12,560 --> 00:46:14,200 Okay, give us the counter. 718 00:46:14,280 --> 00:46:15,400 Say it. 719 00:46:15,480 --> 00:46:18,080 Rs 60 lakhs for 2 per cent and 1 per cent royalty. 720 00:46:24,160 --> 00:46:27,280 You have to give Rs 60 lakhs for 3 per cent 721 00:46:27,560 --> 00:46:30,400 and 3 per cent royalty 722 00:46:39,840 --> 00:46:43,520 If you can at least match the valuation, 723 00:46:55,120 --> 00:46:58,400 Rs 60 lakhs for 2 per cent equity. 724 00:46:58,800 --> 00:47:01,320 Royalty will stay at 3 per cent. 725 00:47:01,400 --> 00:47:05,160 But instead of till we make 2x, 1.5x, which is Rs 90 lakhs. 726 00:47:07,800 --> 00:47:11,040 - No, I'll be out. - Why? What's the matter? 727 00:47:11,120 --> 00:47:12,840 - The deal-- - The only difference is... Hey! 728 00:47:12,920 --> 00:47:15,320 The only difference is 1.5 versus 2 times. 729 00:47:15,400 --> 00:47:17,440 Okay, Namita and I will do it. 730 00:47:23,000 --> 00:47:24,640 You made the offer first. We want you there. 731 00:47:24,760 --> 00:47:26,560 I want it too but the economics is not working for me. 732 00:47:26,640 --> 00:47:28,360 Investment is a serious business. 733 00:47:30,080 --> 00:47:33,480 I have one counter. Rs 60 lakhs as you asked. 734 00:47:33,600 --> 00:47:36,560 3 per cent equity, 1 per cent each. 735 00:47:45,440 --> 00:47:46,720 Anupam's terms. 736 00:47:46,720 --> 00:47:48,360 Sir, please make it 2.4 per cent. 737 00:47:55,360 --> 00:47:57,280 [music playing] 738 00:47:59,400 --> 00:48:01,320 So, Sharks, the deal is done. 739 00:48:09,080 --> 00:48:09,920 - Come on. - [chuckling] 740 00:48:10,000 --> 00:48:11,880 - Thank you so much. - There you go, brother. 741 00:48:12,120 --> 00:48:13,400 Build something great. 742 00:49:49,240 --> 00:49:51,480 [music playing] 743 00:49:51,560 --> 00:49:53,040 Hello and welcome to Ask the Shark. 744 00:49:53,120 --> 00:49:54,600 Today, we have 745 00:49:54,720 --> 00:49:57,120 part-time Co-founder and CMO of boAt. 746 00:49:57,200 --> 00:50:00,360 And full-time Butter Chicken lover, Aman Gupta. 747 00:50:00,760 --> 00:50:03,560 Sir, Rhea has a question for you from Thane. 748 00:50:19,960 --> 00:50:21,480 When I started, 749 00:50:21,560 --> 00:50:22,640 I went to them 750 00:50:22,760 --> 00:50:24,760 requesting them to buy my headphones. 751 00:50:24,880 --> 00:50:28,080 So, nobody bought it since the brand was unknown. 752 00:50:28,480 --> 00:50:31,400 So, he... His name is Krishna Pavan. 753 00:50:31,480 --> 00:50:34,760 He said that he'll buy it and bought many. 754 00:50:34,880 --> 00:50:36,240 When I asked him why,