1 00:00:10,000 --> 00:00:11,560 [music playing] 2 00:00:28,840 --> 00:00:30,160 [theme music playing] 3 00:00:48,040 --> 00:00:49,520 [theme music concludes] 4 00:00:51,120 --> 00:00:52,000 Hi, Sharks. 5 00:01:07,280 --> 00:01:11,160 My college significantly supports me in my entrepreneurship journey 6 00:01:11,320 --> 00:01:12,960 which is why I am able to strike a balance 7 00:01:13,040 --> 00:01:15,360 between business and education. 8 00:01:23,280 --> 00:01:25,760 Sharks, my generation wants everything in life 9 00:01:25,840 --> 00:01:27,760 just like the reels on Instagram, 10 00:01:28,560 --> 00:01:30,520 quick and something new every day. 11 00:01:30,640 --> 00:01:33,800 Our moods also keep changing like social media trends. 12 00:01:33,960 --> 00:01:35,760 Suppose I have brown highlights today 13 00:01:35,840 --> 00:01:38,880 and want pink highlights next at any cost. 14 00:01:38,960 --> 00:01:40,400 We won't wait six months for it. 15 00:01:40,480 --> 00:01:41,680 [uptempo music playing] 16 00:01:46,120 --> 00:01:48,760 #pinkhairdontcare. 17 00:01:49,880 --> 00:01:52,440 If you want to look cute someday 18 00:01:52,720 --> 00:01:56,320 and lack the will and strength to get bangs at the parlour, 19 00:01:56,560 --> 00:01:59,120 you can opt for our cute bangs! 20 00:02:00,000 --> 00:02:01,480 [uptempo music playing] 21 00:02:06,120 --> 00:02:07,760 #socute. 22 00:02:08,720 --> 00:02:12,520 If you want a perfect messy bun look, 23 00:02:12,920 --> 00:02:15,800 here's our Messy Bun Scrunchie. 24 00:02:15,960 --> 00:02:18,040 [uptempo song playing] 25 00:02:25,880 --> 00:02:28,640 #justlookinglikeawow. 26 00:02:31,840 --> 00:02:32,800 [uptempo song concludes] 27 00:02:33,280 --> 00:02:35,640 To give everyone the life we see on Instagram reels, 28 00:02:35,760 --> 00:02:37,240 I started The Shell Hair. 29 00:02:39,520 --> 00:02:40,840 At The Shell Hair, 30 00:02:54,360 --> 00:02:56,800 but also serious hair loss concerns. 31 00:03:28,960 --> 00:03:31,720 and want to make it those chairs just like you 32 00:03:31,800 --> 00:03:33,680 and guide other Shellys out there like me. 33 00:03:33,800 --> 00:03:34,600 So, Sharks. 34 00:03:34,680 --> 00:03:37,800 I won my mother's heart by building this brand. 35 00:03:38,000 --> 00:03:39,640 Do you have faith in me? 36 00:03:41,280 --> 00:03:43,480 Shelly, tell me. There are three categories. 37 00:03:54,240 --> 00:03:56,640 Do you also do non-coloured hair? 38 00:03:56,760 --> 00:03:57,760 - Yes. - Okay. 39 00:04:08,520 --> 00:04:11,200 Our products are made only and only 40 00:04:19,040 --> 00:04:20,840 Double-drawn means that 41 00:04:20,960 --> 00:04:25,240 - the density of hair is equal from the top to bottom. - Yes. 42 00:04:27,600 --> 00:04:30,440 Despite our quality being good, 43 00:04:30,520 --> 00:04:34,320 our prices are lower than that of other brands by 30 to 40%. 44 00:05:07,880 --> 00:05:10,000 - The packaging is wonderful. - Thank you, sir. 45 00:05:12,600 --> 00:05:15,160 - Will you help me wear these? - Sure. 46 00:05:15,360 --> 00:05:16,720 [light-hearted music playing] 47 00:05:21,160 --> 00:05:22,240 Okay. 48 00:05:22,560 --> 00:05:23,440 How is this looking? 49 00:05:23,640 --> 00:05:25,040 - Very nice. - Looks nice. 50 00:05:25,120 --> 00:05:27,480 - You like it? - It complements your dress and the bag. Looks very cool. 51 00:05:27,560 --> 00:05:30,200 Show me the fringe you just tried. 52 00:05:33,280 --> 00:05:35,120 - This is all... - No... 53 00:05:35,400 --> 00:05:36,720 - Twisted. - I know. 54 00:05:36,880 --> 00:05:38,600 That's because it was lying packed inside the box. 55 00:05:38,680 --> 00:05:39,880 I'll bring another one. 56 00:05:39,960 --> 00:05:42,360 - Just a minute. Yes. - This doesn't look good. It's twisted. 57 00:05:48,560 --> 00:05:50,880 - We can spread the bangs, right? - Yes. 58 00:05:51,040 --> 00:05:53,320 - These are medium density bangs. - Yes. 59 00:05:53,400 --> 00:05:55,400 - Do you like it, guys? - Shark approved. 60 00:05:55,520 --> 00:05:56,680 Shark approved! 61 00:05:57,720 --> 00:05:59,960 Shelly, you were 20 years old 62 00:06:00,040 --> 00:06:01,840 - when you started this, correct? - Hmm. 63 00:06:01,920 --> 00:06:05,640 - Didn't you feel that people were already doing this? - Hmm. 64 00:06:05,840 --> 00:06:08,480 What made you think you could do something different here? 65 00:06:08,600 --> 00:06:10,040 I was very interested. 66 00:06:10,120 --> 00:06:14,720 All the time, I would imagine myself 67 00:06:14,960 --> 00:06:17,720 making extensions, building a team 68 00:06:17,920 --> 00:06:20,240 - and making related products. - Correct. 69 00:06:20,400 --> 00:06:21,800 What was the first thing you did? 70 00:06:21,880 --> 00:06:23,560 Did you ask your mom to cut your hair? 71 00:06:24,000 --> 00:06:25,600 When this occurred to me, 72 00:06:25,840 --> 00:06:29,080 I looked up online if anyone would give me raw hair. 73 00:06:29,080 --> 00:06:30,680 I found a vendor in Jaipur 74 00:06:30,760 --> 00:06:32,840 and ordered hair worth Rs. 2,000 from him. 75 00:06:32,920 --> 00:06:34,480 The hair arrived after two days. 76 00:06:34,560 --> 00:06:37,920 I was excited and ran in the house with it. 77 00:06:38,040 --> 00:06:40,040 My family wondered what I was doing with hair. 78 00:06:40,160 --> 00:06:44,560 So, I began making it on my own on my sewing machine. 79 00:06:45,200 --> 00:06:48,280 I made a hair extension and around two streaks. 80 00:06:48,360 --> 00:06:51,520 After they were ready, I sold them to my relatives 81 00:06:51,640 --> 00:06:53,440 to see the response. 82 00:06:53,640 --> 00:06:55,680 They really liked it 83 00:06:55,800 --> 00:06:58,760 because that was the first time they had seen such things. 84 00:06:59,040 --> 00:07:02,320 Then I made a website which failed, 85 00:07:02,400 --> 00:07:04,760 but nevertheless, I received orders on it. 86 00:07:05,040 --> 00:07:07,720 And now, I have a new website. 87 00:07:07,920 --> 00:07:09,440 Let us see your website. 88 00:07:09,600 --> 00:07:11,560 - Okay, this is your site. - Very nice. 89 00:07:11,680 --> 00:07:13,280 - Is that you in the photos? - Yes. 90 00:07:13,400 --> 00:07:14,520 - This is you, right? - Yes. 91 00:07:14,600 --> 00:07:16,960 - That's well-thought. - Yes, they're all me. 92 00:07:17,520 --> 00:07:19,160 - The website is nice. - Thank you. 93 00:07:19,480 --> 00:07:21,920 To be honest, this is a free website. 94 00:07:22,120 --> 00:07:23,360 My friend designed it for me. 95 00:07:23,680 --> 00:07:24,760 That's how it is. 96 00:07:24,880 --> 00:07:26,240 You're highly resourceful. 97 00:07:30,600 --> 00:07:34,080 Let me give you an example of the Messy Bun Scrunchie. 98 00:07:46,200 --> 00:07:47,800 - I found it better. - You must have. 99 00:07:47,920 --> 00:07:49,360 Let me be objective. 100 00:07:59,840 --> 00:08:01,840 I found Nish Hair's designs to be better 101 00:08:11,000 --> 00:08:12,360 Yours is bulkier 102 00:08:12,440 --> 00:08:14,800 if I were to give genuine feedback about your product. 103 00:08:18,440 --> 00:08:20,720 - Every product is priced differently. - Hmm. 104 00:08:30,880 --> 00:08:31,760 - Yes. - How? 105 00:08:31,880 --> 00:08:35,480 Firstly, I'm handling the complete marketing by myself. 106 00:08:38,600 --> 00:08:39,560 No employees? 107 00:08:39,720 --> 00:08:40,840 I do have employees. 108 00:08:40,960 --> 00:08:44,000 I have an intern and six manufacturers. 109 00:08:44,080 --> 00:08:47,560 You're saying you'll build a team and do better marketing. What else? 110 00:08:47,640 --> 00:08:49,720 We'll increase our production capacity. 111 00:08:49,840 --> 00:08:52,720 Our offline sales are negligible at the moment. 112 00:08:53,000 --> 00:08:56,080 For instance, exhibitions or trials at salons 113 00:08:56,280 --> 00:08:58,480 where a huge investment is not required. 114 00:09:07,320 --> 00:09:09,320 Sir, our net profit is 35%. 115 00:09:58,440 --> 00:10:00,440 Do you know your marketing is your weakness? 116 00:10:00,960 --> 00:10:03,400 - Your brand building isn't great. - Yes. 117 00:10:03,520 --> 00:10:05,280 Your logo isn't all that great either. 118 00:10:05,360 --> 00:10:07,400 How can a commodity become a brand 119 00:10:07,480 --> 00:10:09,040 is by better marketing, right? 120 00:10:09,240 --> 00:10:11,120 You need a marketing person in your team. 121 00:10:11,240 --> 00:10:13,600 If you're ready to do that, I could make you an offer. 122 00:10:13,800 --> 00:10:15,960 Yes, sir. I am absolutely ready. 123 00:10:16,080 --> 00:10:18,720 Actually, Aman, before you give the offer. 124 00:10:18,800 --> 00:10:20,960 I agree marketing is her weakness, 125 00:10:21,080 --> 00:10:24,400 but her biggest weakness is her product. 126 00:10:26,960 --> 00:10:29,320 When you helped me wear the bangs, it was all twisted. 127 00:10:29,400 --> 00:10:31,120 - It didn't fall as it was supposed to. - Hmm. 128 00:10:31,200 --> 00:10:32,760 The gap was too wide. 129 00:10:32,880 --> 00:10:33,960 They were not straight. 130 00:10:34,040 --> 00:10:36,000 Then you had to go back and get another one. 131 00:10:36,120 --> 00:10:38,120 If the customer were to get one of those bangs, 132 00:10:38,200 --> 00:10:40,360 they wouldn't use a straightener to fix them. 133 00:10:41,320 --> 00:10:42,160 I agree. 134 00:10:42,240 --> 00:10:44,760 Also, Namita, sometimes, it's just one's perception because... 135 00:10:44,840 --> 00:10:46,160 It's not perception. It's... 136 00:10:47,360 --> 00:10:49,320 - Nish Hair was different... - Two people. 137 00:10:49,400 --> 00:10:51,080 Amit and me giving the same feedback. 138 00:10:51,160 --> 00:10:52,080 He has a conflict of interest. 139 00:10:52,160 --> 00:10:54,160 - She... - I have no conflict of interest. 140 00:10:54,240 --> 00:10:56,480 Just to be clear, I would invest in her. 141 00:10:56,600 --> 00:10:57,880 - I invest in entrepreneurs. - Let me tell you. 142 00:10:57,960 --> 00:11:00,960 - Amit will obviously say Nish Hair is better. - Nothing of the sort. 143 00:11:01,120 --> 00:11:03,720 He's giving honest feedback to a founder. 144 00:11:04,680 --> 00:11:06,320 I'm very confident about my products. 145 00:11:06,400 --> 00:11:08,600 Shelly, you're 24 years old. 146 00:11:09,080 --> 00:11:11,120 In three years, as a student, 147 00:11:11,240 --> 00:11:13,280 you built a business of Rs. 10 lakhs. 148 00:11:13,680 --> 00:11:15,120 There are bound to be shortcomings. 149 00:11:15,240 --> 00:11:19,080 In my opinion, your resourcefulness is great. 150 00:11:19,200 --> 00:11:20,680 The road ahead is different. 151 00:11:20,760 --> 00:11:22,640 An elaborate marketing plan... 152 00:11:22,880 --> 00:11:24,880 You need to improve your social media game 153 00:11:25,480 --> 00:11:27,440 so that your customer acquisition costs 154 00:11:27,560 --> 00:11:29,480 - do not grow along with business. - Hmm. 155 00:11:29,560 --> 00:11:30,640 If that happens, 156 00:11:30,760 --> 00:11:32,440 - making margins will be tough. - Hmm. 157 00:11:32,600 --> 00:11:36,000 I think keeping competitive pricing is a brilliant strategy. 158 00:11:36,120 --> 00:11:38,680 Once you get scale and become a premium brand, 159 00:11:38,920 --> 00:11:40,280 then the pricing can be revised. 160 00:11:41,400 --> 00:11:42,600 Keep the expenses low. 161 00:11:42,680 --> 00:11:44,200 - Value the customer. - Yes. 162 00:11:44,320 --> 00:11:46,120 And not focus on profits at the start. 163 00:11:46,440 --> 00:11:47,440 I like your thinking. 164 00:11:47,560 --> 00:11:49,400 - So, I... - Your vendor strategy is good. 165 00:11:49,520 --> 00:11:51,240 So, I will make you an offer. 166 00:11:53,320 --> 00:11:55,840 - Have you ever raised funds? - Never. 167 00:12:16,120 --> 00:12:17,920 you've reached a revenue of Rs. 1 crore 168 00:12:18,000 --> 00:12:20,040 all on your own merit and that's fantastic. 169 00:12:20,160 --> 00:12:22,120 I think right now your sole differentiator 170 00:12:22,200 --> 00:12:23,360 is lower price. 171 00:12:23,480 --> 00:12:26,520 You can't compete only on the basis of price. 172 00:12:26,720 --> 00:12:29,200 So, I urge you to work on the product, 173 00:12:29,320 --> 00:12:30,640 the quality and design. 174 00:12:30,920 --> 00:12:33,920 For today, I'm out, but wish you the very best. 175 00:12:34,400 --> 00:12:35,240 Thank you. 176 00:12:35,520 --> 00:12:37,760 I believe for the kind of growth you want, 177 00:12:38,280 --> 00:12:39,760 your current ask 178 00:12:40,280 --> 00:12:42,480 is a little too low 179 00:12:42,680 --> 00:12:44,080 in comparison to your strategy. 180 00:12:54,000 --> 00:12:56,680 I will offer you Rs. 60 lakhs. 181 00:13:08,000 --> 00:13:10,600 It's great to see you made a profitable business. 182 00:13:10,720 --> 00:13:12,080 I'm very proud of you frankly. 183 00:13:12,160 --> 00:13:15,320 I found the product quality to be really inferior, to be frank. 184 00:13:16,600 --> 00:13:18,560 I was hoping if you acknowledged 185 00:13:18,640 --> 00:13:20,400 that this could do with some work 186 00:13:20,640 --> 00:13:21,880 and innovate it and fix it 187 00:13:22,040 --> 00:13:23,880 rather than the resistance, I'd have surely made an offer. 188 00:13:23,960 --> 00:13:25,320 You seem like an amazing founder. 189 00:13:26,760 --> 00:13:27,720 The market is big. 190 00:13:27,960 --> 00:13:30,520 In my view, you'll do well and Nish Hair will too. 191 00:13:31,320 --> 00:13:34,800 Making a good product is what your USP should be. 192 00:13:35,680 --> 00:13:36,640 So, I am out today. 193 00:13:36,840 --> 00:13:38,240 - Thank you. - All the best. 194 00:13:38,400 --> 00:13:39,600 Shelly, you know what I think? 195 00:13:39,680 --> 00:13:42,760 Sometimes, more money can mess things up. 196 00:13:43,960 --> 00:13:45,080 Right? And we've seen that. 197 00:13:45,160 --> 00:13:47,360 We've seen that in the start-up economy. 198 00:13:47,520 --> 00:13:49,760 I believe you're at a stage 199 00:13:50,200 --> 00:13:51,960 where you should take only some capital 200 00:13:52,120 --> 00:13:53,600 but take a step forward. 201 00:13:53,680 --> 00:13:57,000 That's the way you came across to me, right? 202 00:13:57,120 --> 00:13:59,200 You don't want to suddenly start burning money 203 00:13:59,480 --> 00:14:02,640 and then have to figure out what you want to do next. 204 00:14:03,000 --> 00:14:04,600 So, I think I'll change my offer. 205 00:14:04,680 --> 00:14:06,280 [music playing] 206 00:14:07,120 --> 00:14:08,960 I'll have to give you a higher valuation, 207 00:14:09,480 --> 00:14:11,440 but there's something about you. 208 00:14:12,000 --> 00:14:13,520 So, I'm willing to take that risk. 209 00:14:22,120 --> 00:14:24,080 I tried hard, but didn't get that deal. 210 00:14:24,160 --> 00:14:25,680 - Then... - I know, yes. 211 00:14:25,760 --> 00:14:27,560 - I know! - Have mercy! 212 00:14:27,640 --> 00:14:30,520 Nish Hair came In the second season! 213 00:14:30,760 --> 00:14:32,680 I got stuck with them at the valuation again. 214 00:14:33,800 --> 00:14:35,360 Unfortunately, 215 00:14:36,680 --> 00:14:38,080 I want one hair company. 216 00:14:39,520 --> 00:14:41,080 - Yes. - [Namita chuckles] 217 00:14:41,760 --> 00:14:42,680 And that's you. 218 00:14:42,760 --> 00:14:45,120 Lucky! There are three people fighting for you. 219 00:14:45,280 --> 00:14:48,400 So, Shelly called out to me and here I am. 220 00:14:48,840 --> 00:14:50,880 Rs. 30 lakhs for 3% equity. 221 00:14:59,760 --> 00:15:00,640 Okay. 222 00:15:01,360 --> 00:15:02,320 What do you want? 223 00:15:02,520 --> 00:15:04,040 [tense music playing] 224 00:15:07,560 --> 00:15:09,400 Don't think too much, Shelly. Take the deal. 225 00:15:10,640 --> 00:15:13,560 I don't have such a company. Imagine the time I'd invest. 226 00:15:14,280 --> 00:15:16,480 The hair goes to Mr. Aman Gupta. 227 00:15:24,000 --> 00:15:25,760 and let's build a good brand. 228 00:15:25,840 --> 00:15:28,120 - Thank you. - I think you need good support with the branding. 229 00:15:28,200 --> 00:15:29,200 [camera shutter clicking] 230 00:15:31,000 --> 00:15:33,000 - Thank you. - I'm a big fan, sir. 231 00:15:33,320 --> 00:15:34,840 I'm also a big fan from today. 232 00:15:34,960 --> 00:15:36,400 - Thank you. - Many best wishes. 233 00:15:36,520 --> 00:15:38,320 - Join the club. - Bye, Shelly. 234 00:15:38,440 --> 00:15:40,280 Thank you for your offers. Thank you. 235 00:15:40,400 --> 00:15:41,360 Buh-bye. 236 00:15:41,520 --> 00:15:43,120 [joyous music playing] 237 00:15:48,280 --> 00:15:49,400 [music fades] 238 00:17:26,280 --> 00:17:27,600 [theme music playing] 239 00:17:44,760 --> 00:17:46,080 [theme music fading] 240 00:17:50,600 --> 00:17:53,440 I always had the desire to make a mark in the food industry. 241 00:17:53,520 --> 00:17:55,360 So, I joined the Indian School of Hospitality 242 00:18:06,560 --> 00:18:08,600 I am currently studying at Amity University, Noida, 243 00:18:15,880 --> 00:18:17,720 We're both highly ambitious. 244 00:18:17,800 --> 00:18:19,800 We have the zeal to do something in life. 245 00:18:19,920 --> 00:18:22,400 - Nice! - Our friends would go partying on Saturday nights 246 00:18:22,560 --> 00:18:24,280 whereas we'd use the same time to better our health 247 00:18:24,360 --> 00:18:26,040 and gain more knowledge. 248 00:18:26,840 --> 00:18:29,600 We wish to help others to also become better individuals. 249 00:18:29,680 --> 00:18:31,920 So, overall wellness is very important. 250 00:18:33,280 --> 00:18:35,800 Be it your sleep, energy or hormonal health. 251 00:18:35,960 --> 00:18:38,600 We also noticed that a lot of people consume nutritional bars 252 00:18:38,680 --> 00:18:40,200 assuming they are healthy. 253 00:18:40,520 --> 00:18:42,120 We were one of them. 254 00:18:42,320 --> 00:18:44,800 We realised they are really unhealthy. 255 00:18:44,920 --> 00:18:46,840 So, we began working on the formulation of energy bars 256 00:18:46,920 --> 00:18:48,800 right in our own kitchen. 257 00:18:49,040 --> 00:18:52,880 To replace these unhealthy bars, we started Rize Bars. 258 00:19:19,240 --> 00:19:21,160 Sharks, our products are ready. 259 00:19:21,280 --> 00:19:22,880 And our production has started too. 260 00:19:39,400 --> 00:19:40,720 This is what we believe. 261 00:19:40,800 --> 00:19:43,280 We will work hard today and bring results tomorrow. 262 00:19:43,360 --> 00:19:45,040 So, we work in the metro in morning 263 00:19:45,120 --> 00:19:47,320 and we focus on our business in the evening. 264 00:19:48,240 --> 00:19:49,320 And our vision is 265 00:19:49,400 --> 00:19:51,880 to become the king of health and wellness category. 266 00:20:13,160 --> 00:20:14,480 What is this? Milk? 267 00:20:16,120 --> 00:20:17,520 [music playing] 268 00:20:21,640 --> 00:20:22,640 This is white chocolate. 269 00:20:23,560 --> 00:20:24,800 What is this? 270 00:20:24,880 --> 00:20:26,720 - Is it just packaging? - We did it at the last minute. 271 00:20:26,800 --> 00:20:27,800 The packaging is there. 272 00:20:27,880 --> 00:20:29,360 Oh, okay. It's there. 273 00:20:46,200 --> 00:20:48,120 62 calories per unit. 274 00:20:48,200 --> 00:20:49,640 Yes, one bite. 275 00:20:49,960 --> 00:20:50,840 That's a lot. 276 00:21:03,200 --> 00:21:05,040 Since you said that you eat that for health, 277 00:21:05,120 --> 00:21:06,800 I felt the protein content would be high. 278 00:21:06,920 --> 00:21:07,920 [music playing] 279 00:21:07,920 --> 00:21:10,040 We are in the energy bar segment. 280 00:21:10,120 --> 00:21:11,920 - We are not in the protein bar segment. - Protein bar segment 281 00:21:12,000 --> 00:21:14,560 - Understood. - We have the highest in the energy bar segment. 282 00:21:14,720 --> 00:21:16,480 Including caffeine and taurine. 283 00:21:16,560 --> 00:21:18,160 Along with that, the sugars we've used 284 00:21:18,240 --> 00:21:20,320 are natural sugars. Fructooligosaccharides, 285 00:21:26,800 --> 00:21:28,800 - I'm munching on this energy bar. - Yes. 286 00:21:29,360 --> 00:21:31,520 It tastes pretty similar to others I've had before. 287 00:21:31,600 --> 00:21:33,040 It doesn't have any packaging, 288 00:21:33,160 --> 00:21:35,360 if you mention any brand names on it, 289 00:21:35,680 --> 00:21:37,200 I can't tell them apart. 290 00:21:38,160 --> 00:21:40,640 We have added 100 mg of caffeine and taurine. 291 00:21:47,920 --> 00:21:49,360 - Because of taurine. - What is taurine? 292 00:21:57,720 --> 00:22:00,080 Caffeine can cause jitters and crashes. 293 00:22:00,160 --> 00:22:02,000 Caffeine takes you there, and taurine keeps you there. 294 00:22:02,080 --> 00:22:02,960 - Yes! - Yeah! 295 00:22:02,960 --> 00:22:04,960 You mentioned that you just started this business. 296 00:22:05,120 --> 00:22:06,920 Have you started making sales? 297 00:22:07,040 --> 00:22:08,440 - No! - Pre-revenue. 298 00:22:08,600 --> 00:22:10,920 How much is the average price for this? 299 00:22:18,280 --> 00:22:20,480 No! That is a sample. There are 8 Bites in one packet. 300 00:22:20,560 --> 00:22:22,000 That makes it Rs. 50 per piece. 301 00:22:22,080 --> 00:22:23,400 - Yes. - Approximately! 302 00:22:23,480 --> 00:22:25,760 - The pricing seems to be on the higher side. - Yes. 303 00:22:25,920 --> 00:22:27,320 Why are the prices so high? 304 00:22:27,400 --> 00:22:29,240 We want to play the game of position. 305 00:22:29,320 --> 00:22:31,560 Who are you selling, when, and how? 306 00:22:31,640 --> 00:22:34,000 Because there is never a brand too expensive. 307 00:22:34,080 --> 00:22:35,920 It's the way you position yourselves 308 00:22:36,040 --> 00:22:38,280 in that locality where people are going to buy it. 309 00:22:38,440 --> 00:22:39,800 Sahil and Dhruv, I have a question. 310 00:22:39,880 --> 00:22:42,400 Let's go back in time. Both of you started this at 21. 311 00:22:42,480 --> 00:22:44,840 - Yes! - When did you think of starting this? 312 00:22:46,000 --> 00:22:47,320 We live in the same society. 313 00:22:47,480 --> 00:22:48,720 Okay! Cricket friends. 314 00:22:48,800 --> 00:22:50,800 We've known each other for more than 12 years. 315 00:22:50,880 --> 00:22:53,000 When and how did you start? 316 00:22:53,080 --> 00:22:55,480 What was your starting point? 317 00:22:55,720 --> 00:22:58,240 We started our business this year. 318 00:23:05,120 --> 00:23:07,480 Did you conduct a survey or do some research to see 319 00:23:07,560 --> 00:23:09,680 - if there's a similar product available? - We went to the market 320 00:23:09,760 --> 00:23:10,680 and studied it. 321 00:23:10,800 --> 00:23:13,000 - We took feedback. - And you found no similar products. 322 00:23:13,120 --> 00:23:15,040 Caffeine and taurine aren't in anyone's products. 323 00:23:15,120 --> 00:23:17,960 That is our USP. We can claim it. 324 00:23:18,360 --> 00:23:19,680 We checked the ingredients of 325 00:23:19,760 --> 00:23:21,600 every energy bar, like RiteBite and The Whole Truth. 326 00:23:21,680 --> 00:23:23,840 We decided to add missing ingredients from their product 327 00:23:23,920 --> 00:23:24,800 into our product. 328 00:23:24,960 --> 00:23:26,680 If you compare our ingredients with any bar 329 00:23:33,960 --> 00:23:37,280 Initially, we started taking money from our parents. 330 00:23:37,360 --> 00:23:38,680 I doubt you had any other option. 331 00:23:38,960 --> 00:23:40,440 We have also raised funds. 332 00:23:41,880 --> 00:23:43,160 - Have you raised funds already? - Yes. 333 00:23:43,240 --> 00:23:45,840 We raised funds from Daniel Weber and Sunny Leone. 334 00:23:45,920 --> 00:23:47,480 Sunny will also be our brand ambassador. 335 00:23:55,640 --> 00:23:57,640 Please elaborate on the ownership structure between 336 00:24:18,160 --> 00:24:19,800 Three times the valuation. 337 00:24:19,880 --> 00:24:22,800 Just within less than a month. Why? 338 00:24:24,040 --> 00:24:26,040 We have good mentors. 339 00:24:26,120 --> 00:24:27,480 Sunny is our brand ambassador. 340 00:24:27,680 --> 00:24:29,960 So, the value of our brand and our skills... 341 00:24:30,080 --> 00:24:32,960 Sahil and Dhruv, there has to be a logic behind it. 342 00:24:33,320 --> 00:24:34,800 The sales increase. 343 00:24:34,960 --> 00:24:37,400 A new distribution channel has been established. 344 00:24:37,520 --> 00:24:41,000 There has to be something that can justify a three-times valuation. 345 00:24:41,960 --> 00:24:44,200 - Do you want to do this long term? - Forever! 346 00:24:44,480 --> 00:24:46,680 We have a rule. We want to run this positively. 347 00:24:46,760 --> 00:24:48,600 We don't want to burn. 348 00:24:48,680 --> 00:24:51,120 If the profit is less, we'll run this based on profit alone. 349 00:24:51,200 --> 00:24:52,560 We want to make our brand big. 350 00:24:52,680 --> 00:24:54,760 I have a question regarding your product. 351 00:24:55,560 --> 00:24:58,400 I will give you an example. I work for 15 hours on Shark Tank. 352 00:24:58,520 --> 00:24:59,640 I get so buzzed at night 353 00:24:59,720 --> 00:25:01,800 - that I have to take melatonin sometimes. - Yes. 354 00:25:01,880 --> 00:25:03,640 But my preferred dosage is... 355 00:25:03,720 --> 00:25:06,080 There are strips that dissolve in the mouth 356 00:25:06,200 --> 00:25:07,240 or gummies. 357 00:25:07,400 --> 00:25:10,560 It has fewer calories and it's much easier. 358 00:25:10,840 --> 00:25:12,360 Take a look at this. 359 00:25:13,240 --> 00:25:14,440 This has sugar. 360 00:25:14,720 --> 00:25:16,360 [suspenseful music playing] 361 00:25:16,960 --> 00:25:18,680 This takes time to eat. 362 00:25:18,840 --> 00:25:20,400 It is not very convenient. 363 00:25:20,520 --> 00:25:23,160 So, I want to understand from a product perspective. 364 00:25:23,280 --> 00:25:26,920 Why will Namita switch from melatonin gummies, 365 00:25:27,000 --> 00:25:29,760 melatonin mouth dissolvable strips 366 00:25:30,000 --> 00:25:31,240 to something like this, 367 00:25:31,320 --> 00:25:34,200 - which has calories and sugar - and takes longer to eat? 368 00:25:36,720 --> 00:25:38,880 So, in our melatonin bites... 369 00:25:38,960 --> 00:25:40,840 Our Dream Bites don't just have melatonin. 370 00:25:40,920 --> 00:25:43,040 It has 5 mg of melatonin loaded in it. 371 00:25:43,160 --> 00:25:45,480 It also has valerian root extract, 372 00:25:45,560 --> 00:25:47,240 chamomile extract and glycine. 373 00:25:47,320 --> 00:25:49,360 You can add them in strips or gummies. 374 00:25:49,440 --> 00:25:50,920 My question is not about ingredients. 375 00:25:51,000 --> 00:25:53,840 You can only load a certain amount in a gummy. 376 00:25:53,960 --> 00:25:55,240 And there are other problems 377 00:25:55,320 --> 00:25:57,440 that could come with a gummy, which is indigestion. 378 00:25:57,560 --> 00:25:59,160 It has colour added. If it is sugar-free, 379 00:25:59,240 --> 00:26:00,280 it has starch. 380 00:26:00,360 --> 00:26:01,520 Is your product sugar-free? 381 00:26:05,280 --> 00:26:07,080 And gummies are made from sugar. 382 00:26:07,160 --> 00:26:09,280 It gives you a spike. We've also had gummies. 383 00:26:09,360 --> 00:26:12,120 But chocolate is quickly absorbed into the bloodstream. 384 00:26:12,120 --> 00:26:14,040 Sahil and Dhruv, I am confused. 385 00:26:14,120 --> 00:26:15,920 We are halfway into this, but what is your standout product? 386 00:26:16,000 --> 00:26:17,840 Who is the target audience for your product? 387 00:26:17,920 --> 00:26:20,120 - I can't comprehend anything. - Okay. 388 00:26:20,240 --> 00:26:22,400 Sir, we want to be a health and wellness brand 389 00:26:22,480 --> 00:26:25,760 catering to individuals who frequent the gym. 390 00:26:26,000 --> 00:26:27,640 Our bars offer guilt-free indulgence 391 00:26:27,720 --> 00:26:29,520 for those seeking a healthier alternative, 392 00:26:29,600 --> 00:26:31,920 and savour chocolates and oats. 393 00:26:32,040 --> 00:26:33,440 If anyone is facing sleep issues... 394 00:26:33,520 --> 00:26:35,880 To purchase melatonin from a pharmacy, 395 00:26:35,960 --> 00:26:37,600 a prescription is required. 396 00:26:37,680 --> 00:26:39,000 But we have filled that gap. 397 00:26:39,080 --> 00:26:40,720 Because our product is FSSAI-approved. 398 00:26:40,800 --> 00:26:43,160 Those who need melatonin can have it without a prescription. 399 00:26:56,320 --> 00:26:58,120 it is more effective to develop a standout product 400 00:26:58,200 --> 00:26:59,520 within a specific category 401 00:26:59,680 --> 00:27:02,200 - and capture... - Focus holds great value. 402 00:27:02,400 --> 00:27:04,880 Once you are successful go adjacent. 403 00:27:05,440 --> 00:27:08,360 Did you seek feedback from someone while you were diluting? 404 00:27:08,440 --> 00:27:09,360 Our senior. 405 00:27:09,560 --> 00:27:12,560 It seems a bit rushed to propose 406 00:27:12,640 --> 00:27:14,640 only Rs. 30 lakhs dilution 407 00:27:14,840 --> 00:27:17,120 at a Rs. 2 crores valuation. 408 00:27:17,360 --> 00:27:18,560 There is a lack of experience. 409 00:27:19,720 --> 00:27:22,400 Don't you think you should have taken up a job? 410 00:27:22,520 --> 00:27:23,600 Acquire knowledge about the ways of the world. 411 00:27:23,680 --> 00:27:26,400 I felt a lack of business sense somewhere. 412 00:27:26,560 --> 00:27:27,920 Somebody has to start knowing 413 00:27:28,000 --> 00:27:29,680 how to run a business. 414 00:27:30,040 --> 00:27:31,720 I feel both of you are lacking that. 415 00:27:32,960 --> 00:27:35,600 As founders, we have noticed 416 00:27:35,720 --> 00:27:37,040 that we adapt fast. 417 00:27:37,120 --> 00:27:39,200 So, one thing that we want to do is, 418 00:27:39,280 --> 00:27:42,000 if the mentorship aligns with our speed, 419 00:27:42,120 --> 00:27:44,240 understanding and teaching, 420 00:27:44,440 --> 00:27:47,240 it is something we can grasp in no time. 421 00:27:48,280 --> 00:27:49,920 You have a product. 422 00:27:50,040 --> 00:27:52,480 You are ready. What about distribution? What is your plan? 423 00:27:52,560 --> 00:27:54,120 We met a couple of distributors. 424 00:27:54,200 --> 00:27:55,880 We understood our competitors distribution. 425 00:27:56,040 --> 00:27:56,920 Who is your competitor? 426 00:27:57,000 --> 00:27:58,760 RiteBite, The Whole Truth 427 00:27:58,840 --> 00:28:00,200 - and all... - What's Up Wellness. 428 00:28:00,280 --> 00:28:01,240 What's Up Wellness, yes. 429 00:28:09,320 --> 00:28:11,240 The higher the visibility of a brand, the more it sells. 430 00:28:11,320 --> 00:28:12,640 We will capture Gurugram first. 431 00:28:12,720 --> 00:28:13,960 Then we will cover Delhi NCR. 432 00:28:14,040 --> 00:28:16,360 Gradually, we will cover, Mumbai, Bengaluru and the South. 433 00:28:16,520 --> 00:28:18,320 - Are you talking about offline? - Yes. 434 00:28:18,400 --> 00:28:20,080 Have you come up with an online strategy? 435 00:28:20,160 --> 00:28:22,960 We already have shipping partners who ship PAN India. 436 00:28:23,160 --> 00:28:25,480 - What is available online in PAN India? - All our products. 437 00:28:25,920 --> 00:28:28,080 We have partnered with Delhivery. 438 00:28:28,160 --> 00:28:30,360 They have 20,000 pin codes they deliver to. 439 00:28:30,440 --> 00:28:32,400 Do you know the cost of selling to a customer 440 00:28:32,480 --> 00:28:34,760 on your website when you conduct business online? 441 00:28:34,840 --> 00:28:37,000 Approximately, according to our calculation, 442 00:28:37,080 --> 00:28:39,680 it could be between Rs. 125 to 250. 443 00:28:46,640 --> 00:28:47,800 What do you think? 444 00:28:48,000 --> 00:28:49,400 - On us! - Why? 445 00:28:49,480 --> 00:28:52,200 In four months, we turned our idea into a reality. 446 00:28:52,560 --> 00:28:55,400 Within two months, we secured an investor and a celebrity ambassador. 447 00:28:55,520 --> 00:28:57,040 Now, we are also on Shark Tank. 448 00:28:57,360 --> 00:28:59,600 - We are so fast... - I agree with this. 449 00:28:59,600 --> 00:29:01,840 Guys, I liked both of you. 450 00:29:03,280 --> 00:29:06,360 I think you have the energy and passion. 451 00:29:06,640 --> 00:29:08,080 You will create something. 452 00:29:08,880 --> 00:29:11,840 I am encountering an issue where I have reservations 453 00:29:12,080 --> 00:29:14,680 about your founder-market fit. 454 00:29:15,120 --> 00:29:16,880 You have launched products 455 00:29:17,080 --> 00:29:18,400 in a highly competitive market 456 00:29:18,560 --> 00:29:20,920 without a thorough understanding of the landscape. 457 00:29:21,200 --> 00:29:22,360 You are in this market 458 00:29:22,520 --> 00:29:25,280 talking about taurine and caffeine. 459 00:29:25,480 --> 00:29:27,160 It is superficial knowledge. 460 00:29:27,360 --> 00:29:30,120 If you aspire to establish a successful long-term business, 461 00:29:30,240 --> 00:29:31,800 you need to delve deeper. 462 00:29:32,640 --> 00:29:34,560 Are you willing to do R&D 463 00:29:34,800 --> 00:29:36,840 to create a globally successful product? 464 00:29:37,040 --> 00:29:40,200 I am unable to perceive that clarity. 465 00:29:41,040 --> 00:29:43,040 I love you. You are sweet. 466 00:29:43,240 --> 00:29:45,360 I cannot invest in your business. 467 00:29:45,640 --> 00:29:48,000 - I am going to be out. - Thank you so much. 468 00:29:48,120 --> 00:29:50,560 Witnessing your passion and drive was truly uplifting. 469 00:29:50,640 --> 00:29:52,960 Both the founders... When I was 21, 470 00:29:53,040 --> 00:29:55,440 I didn't know what to do in life. 471 00:29:55,600 --> 00:29:56,760 The thing that really bothers me 472 00:29:56,840 --> 00:29:58,760 is your attention to detail in the planning process. 473 00:29:58,840 --> 00:30:00,120 When I inquired about 474 00:30:00,200 --> 00:30:02,360 your strategy 475 00:30:02,520 --> 00:30:03,960 and distribution, 476 00:30:04,160 --> 00:30:05,760 I noticed a lack of attention to detail. 477 00:30:05,840 --> 00:30:09,120 If there is attention to detail about how 478 00:30:09,360 --> 00:30:10,840 products will be displayed on the counter. 479 00:30:10,920 --> 00:30:13,040 How can I make them more visible? 480 00:30:13,160 --> 00:30:15,200 What sale am I expecting from a counter? 481 00:30:15,280 --> 00:30:16,880 You mentioned setting up an offline store in Gurugram. 482 00:30:16,960 --> 00:30:20,160 Very generic, high-level statement. I prefer an in-depth explanation. 483 00:30:21,200 --> 00:30:23,240 There is a lack of attention to detail. 484 00:30:23,400 --> 00:30:24,440 I am out today. 485 00:30:24,520 --> 00:30:26,240 - All the best. - Thank you. 486 00:30:26,360 --> 00:30:29,360 You should focus more on numbers. 487 00:30:29,760 --> 00:30:32,560 One month ago, your valuation was Rs. 2.5 crores. 488 00:30:32,640 --> 00:30:36,320 And within a month, without any sales and without any evidence, 489 00:30:36,480 --> 00:30:38,560 you increase it threefold. 490 00:30:38,640 --> 00:30:40,280 Investors don't feel good about it. 491 00:30:41,480 --> 00:30:42,840 The purpose of giving feedback 492 00:30:42,960 --> 00:30:45,040 - is so that you learn... - Yes, definitely. 493 00:30:45,160 --> 00:30:47,800 - And make this a phenomenal success. - Absolutely. 494 00:30:47,880 --> 00:30:50,120 - But for today, I am out. - Thank you! 495 00:30:50,200 --> 00:30:53,440 Both of you are resourceful. 496 00:30:53,920 --> 00:30:57,480 I believe your resourcefulness is your strong suit. 497 00:30:57,920 --> 00:31:00,480 Another crucial aspect of entrepreneurship 498 00:31:00,720 --> 00:31:02,120 is resilience. 499 00:31:02,240 --> 00:31:06,600 I think it's important for you to demonstrate resilience. 500 00:31:06,760 --> 00:31:09,400 What usually happens is if one door closes, 501 00:31:09,640 --> 00:31:11,560 you have to knock and break it. 502 00:31:11,720 --> 00:31:13,400 I believe, if you want to get to that point, 503 00:31:13,480 --> 00:31:15,360 you have to show resilience. 504 00:31:15,440 --> 00:31:16,400 Okay! 505 00:31:16,600 --> 00:31:18,560 My suggestion to you is 506 00:31:19,040 --> 00:31:21,400 that you should focus on the first 100 customers. 507 00:31:21,600 --> 00:31:23,080 [tense music playing] 508 00:31:23,360 --> 00:31:25,680 After interacting with these customers, 509 00:31:25,760 --> 00:31:29,080 you will have all the answers to all the questions we asked 510 00:31:30,360 --> 00:31:33,240 - about your business within three months. - Yes. 511 00:31:33,320 --> 00:31:34,480 Someone gave me this suggestion. 512 00:31:34,560 --> 00:31:37,040 - Now, I am passing it on to you. - Thank you. 513 00:31:37,520 --> 00:31:38,640 I am out. 514 00:31:39,560 --> 00:31:43,040 I started my first business when I was around 21, and it shut down. 515 00:31:43,760 --> 00:31:45,120 But it taught me a lot of things. 516 00:31:45,200 --> 00:31:47,000 I think you will learn a lot of things. 517 00:31:47,080 --> 00:31:48,280 This business won't thrive. 518 00:31:49,920 --> 00:31:51,320 You are still not fit 519 00:31:51,400 --> 00:31:53,240 for the market. That's my view. 520 00:31:53,560 --> 00:31:54,720 This business will teach you. 521 00:31:54,800 --> 00:31:57,440 You will become a player in your industry or another industry. 522 00:31:57,520 --> 00:32:00,720 So, as an investor... I cannot invest now. 523 00:32:00,800 --> 00:32:02,360 But I am also in Gurugram. 524 00:32:02,520 --> 00:32:04,160 I can give you some time. Meet me. 525 00:32:04,240 --> 00:32:06,440 Join entrepreneurship workshops. 526 00:32:06,520 --> 00:32:07,680 Gain more knowledge. 527 00:32:08,840 --> 00:32:10,040 Learn from others. 528 00:32:10,120 --> 00:32:11,840 Study their strategies. Understand their actions. 529 00:32:11,920 --> 00:32:15,120 So that you can improve your business skills. 530 00:32:15,240 --> 00:32:18,320 I don't think I can feel that now. 531 00:32:18,400 --> 00:32:19,720 So, I am out! 532 00:34:46,080 --> 00:34:48,880 [theme music playing] 533 00:34:55,480 --> 00:34:58,080 [music intensifies] 534 00:35:07,880 --> 00:35:09,880 [theme music playing] 535 00:35:12,200 --> 00:35:14,560 Sharks, we never give up. 536 00:35:14,680 --> 00:35:18,120 But we often set unrealistic goals in life. 537 00:35:18,200 --> 00:35:19,600 Look at us students, for instance. 538 00:35:19,800 --> 00:35:21,520 Every night we go to sleep, hoping 539 00:35:21,600 --> 00:35:23,920 that we will rise at 6 am to study. 540 00:35:24,840 --> 00:35:26,200 But in reality, 541 00:35:26,280 --> 00:35:29,520 we begin studying two hours prior to our exams 542 00:35:29,600 --> 00:35:32,280 and we answer our exams based on what we studied in those two hours. 543 00:35:33,680 --> 00:35:36,160 Also, before each semester, 544 00:35:36,240 --> 00:35:38,200 we make a commitment to maintain 100% attendance. 545 00:35:38,280 --> 00:35:40,040 But what happens? We have poor attendance. 546 00:35:41,400 --> 00:35:44,360 But Sharks, there are goals that not only students 547 00:35:44,520 --> 00:35:46,840 but also professionals struggle to accomplish. 548 00:35:46,960 --> 00:35:49,320 That is, 'I will regularly go to the gym starting tomorrow.' 549 00:35:49,480 --> 00:35:50,920 It is difficult to achieve 550 00:35:51,080 --> 00:35:53,720 because we have a busy life and a tight schedule. 551 00:35:53,960 --> 00:35:55,920 When we subscribe to the gym, 552 00:35:56,040 --> 00:35:57,400 we are aware that we can 553 00:35:57,400 --> 00:35:59,360 attend for a maximum of 15 to 18 days in a month. 554 00:35:59,640 --> 00:36:01,080 And the rest of the money is wasted. 555 00:36:01,880 --> 00:36:03,240 When we already know that, 556 00:36:03,360 --> 00:36:05,600 why are we paying for a full month's gym subscription? 557 00:36:05,720 --> 00:36:09,400 To save money we've created Mepack. 558 00:36:25,280 --> 00:36:26,400 - [Aman laughing] - So, 559 00:36:26,520 --> 00:36:28,760 we've always dreamt of launching a startup. 560 00:36:28,840 --> 00:36:31,720 We were inspired by the stories of Steve Jobs and Mark Zuckerberg. 561 00:36:32,280 --> 00:36:33,800 We've wanted to start a startup. 562 00:36:33,880 --> 00:36:38,240 And we started Mepack before we completed college. 563 00:36:38,320 --> 00:36:40,200 Your custom gym subscription. 564 00:36:54,400 --> 00:36:56,680 so you have to make payments for those specific days. 565 00:36:56,840 --> 00:37:00,520 This means you can customize your gym plan 566 00:37:00,600 --> 00:37:02,880 to suit your schedule. 567 00:37:03,360 --> 00:37:04,560 Sharks, as of now, 568 00:37:04,680 --> 00:37:07,440 we have a total of 75 gyms listed on our website. 569 00:37:08,200 --> 00:37:10,200 Our primary objective is to establish 570 00:37:10,280 --> 00:37:14,320 Mepack as a successful fitness startup. 571 00:37:24,840 --> 00:37:26,080 Show us your six-pack. 572 00:37:27,040 --> 00:37:28,200 - Show it. - We don't have it. 573 00:37:28,280 --> 00:37:32,120 - Welcome to Shark Tank Season 3. - Thank you, sir. 574 00:37:32,680 --> 00:37:33,920 What made you come up with this? 575 00:37:34,000 --> 00:37:36,040 You don't look like you frequent the gym. 576 00:37:36,440 --> 00:37:39,160 Where did you get the idea to do this? 577 00:37:39,240 --> 00:37:41,760 Sir, during COVID, we had gym membership. 578 00:37:41,840 --> 00:37:44,840 But all the gyms were closed suddenly. 579 00:37:45,000 --> 00:37:47,240 We realised that we had paid for a yearly subscription, 580 00:37:47,320 --> 00:37:48,880 but we went there only for a few months. 581 00:37:48,960 --> 00:37:50,800 So, we decided to venture into the fitness industry. 582 00:37:50,880 --> 00:37:53,360 Everyone's money was wasted. People paid for their membership. 583 00:37:53,560 --> 00:37:55,200 We thought of launching a fitness startup 584 00:37:55,280 --> 00:37:58,560 that would allow individuals to visit the gym at their convenience 585 00:37:58,760 --> 00:37:59,720 and save money. 586 00:37:59,800 --> 00:38:01,840 This is what happens to 85% of people. 587 00:38:02,000 --> 00:38:04,680 They buy a plan and end up only making it to the gym 588 00:38:04,760 --> 00:38:05,680 two or three days per week. 589 00:38:05,760 --> 00:38:07,600 That makes it around 15 to 18 days. 590 00:38:07,680 --> 00:38:08,760 You end up wasting half of the money. 591 00:38:08,840 --> 00:38:11,600 I agree. I have also enrolled in numerous gyms 592 00:38:11,720 --> 00:38:13,720 and paid for memberships, yet I never manage to go. 593 00:38:14,040 --> 00:38:15,880 That is true. There is a need in the market. 594 00:38:15,960 --> 00:38:18,200 We've conducted several surveys, and all of them indicate the same thing. 595 00:38:18,200 --> 00:38:19,720 - Show us your website once. - Yes. 596 00:38:19,840 --> 00:38:21,760 - Yes. - You said 75 gyms are listed. 597 00:38:21,840 --> 00:38:22,680 Yes. 598 00:38:23,360 --> 00:38:24,640 So, Sharks, this is our website. 599 00:38:24,720 --> 00:38:26,440 It has different areas of Delhi 600 00:38:26,520 --> 00:38:27,960 and has more than 75 gyms listed. 601 00:38:28,040 --> 00:38:30,000 You can simply scroll and take a look at it. 602 00:38:30,080 --> 00:38:31,360 You live in Delhi, Aman Sir. 603 00:38:31,440 --> 00:38:33,640 So, we'll create a Mepack for you. 604 00:38:34,880 --> 00:38:36,320 For example, in Delhi, 605 00:38:36,560 --> 00:38:38,120 whichever area that you live in, 606 00:38:38,240 --> 00:38:41,560 once you click it, you can see our top gyms listed. 607 00:38:45,360 --> 00:38:47,240 We will scroll down and check 608 00:38:47,320 --> 00:38:48,640 how many trainers they have. 609 00:38:48,720 --> 00:38:50,080 If those trainers are qualified. 610 00:38:50,160 --> 00:38:52,560 How many certifications they have or what's their experience. 611 00:38:52,640 --> 00:38:55,240 You will also be able to check their equipments. 612 00:39:00,560 --> 00:39:02,520 the next 30 days' calendar. 613 00:39:02,640 --> 00:39:05,080 So, you can choose your days. 614 00:39:05,160 --> 00:39:06,560 Days that you want to work out. 615 00:39:06,640 --> 00:39:08,200 You have to select a minimum of 10 days. 616 00:39:08,320 --> 00:39:10,560 You will also be able to see that the amount accumulates 617 00:39:10,560 --> 00:39:12,320 - on a per day basis. - How much is it per day? 618 00:39:12,400 --> 00:39:13,960 For 10 days, it's Rs 670. 619 00:39:14,080 --> 00:39:16,400 - So, it's Rs 67 per day. - Rs 67 per day. 620 00:39:16,480 --> 00:39:18,360 But it's not the same gym. We can go to any gym. 621 00:39:32,080 --> 00:39:33,000 Because sometimes 622 00:39:33,120 --> 00:39:35,000 - Yeah. - We plan a Thursday 623 00:39:35,240 --> 00:39:37,600 but it doesn't seem possible so you want to go on Friday. 624 00:39:37,680 --> 00:39:38,880 So can we change the dates? 625 00:39:38,960 --> 00:39:40,480 Or once you book it, it's final? 626 00:39:40,560 --> 00:39:43,040 Our system is that once you choose a day, 627 00:39:43,120 --> 00:39:44,720 you can adjust it plus or minus one. 628 00:39:44,800 --> 00:39:46,680 - So, if it's Thursday... - Within that range. 629 00:39:46,840 --> 00:39:47,560 - Yes. - Yes. 630 00:39:47,560 --> 00:39:49,080 The business model has a problem. 631 00:39:49,160 --> 00:39:50,400 [music playing] 632 00:39:51,760 --> 00:39:53,680 Firstly, the regular gym-goers, 633 00:39:53,760 --> 00:39:55,880 those who are serious about it, 634 00:39:56,040 --> 00:39:57,480 they must take the membership and go to that gym. 635 00:39:57,560 --> 00:39:58,880 But people like me 636 00:39:59,000 --> 00:40:01,320 take memberships but never go. 637 00:40:02,720 --> 00:40:04,680 Nothing of this sort will appeal to people like us. 638 00:40:04,760 --> 00:40:06,040 [music playing] 639 00:40:06,240 --> 00:40:07,960 To add to Aman's point, cult.fit. 640 00:40:08,120 --> 00:40:09,360 - Yes. - Their annual membership is 641 00:40:09,360 --> 00:40:10,320 - Rs 12,000-15,000. - Yes. 642 00:40:10,320 --> 00:40:12,680 But they have launched Cult Flex. 643 00:40:12,880 --> 00:40:15,120 - They have a product called Flex. - Yes. 644 00:40:15,200 --> 00:40:17,840 You can use it in many of their gyms. 645 00:40:17,920 --> 00:40:19,480 Cult.fit is doing it for their gyms. 646 00:40:19,560 --> 00:40:22,600 Generally, there are different types of customers in the fitness market. 647 00:40:22,680 --> 00:40:23,400 Many types. 648 00:40:23,480 --> 00:40:24,960 10 per cent are extremely loyal. 649 00:40:25,040 --> 00:40:26,320 They will surely visit. 650 00:40:26,400 --> 00:40:27,520 Then there are some 651 00:40:27,600 --> 00:40:29,920 who will not be so regular, kind of moody. 652 00:40:30,000 --> 00:40:31,720 Many people genuinely 653 00:40:31,800 --> 00:40:32,760 aspire fitness 654 00:40:32,840 --> 00:40:34,520 and want to go to gym but they can't do it. 655 00:40:34,600 --> 00:40:35,840 Since the schedule is tight. 656 00:40:35,960 --> 00:40:38,600 If they miss two days, the routine is lost. 657 00:40:38,720 --> 00:40:41,160 If they miss two days again, they don't feel like returning. 658 00:40:41,280 --> 00:40:42,680 We want to rectify this. 659 00:40:42,800 --> 00:40:43,960 And that chunk is big. 660 00:40:44,040 --> 00:40:45,320 So, you're on the third set. 661 00:40:45,400 --> 00:40:47,360 - Yes. - No, I don't agree. 662 00:40:49,000 --> 00:40:50,080 I feel that 663 00:40:50,400 --> 00:40:52,240 that segment is small. 664 00:40:54,720 --> 00:40:58,520 Firstly, 5-10 per cent of dedicated users, I think it's more than that. 665 00:40:58,760 --> 00:41:00,120 I've been visiting gyms for a long. 666 00:41:00,360 --> 00:41:03,080 You will find 20-25 per cent who are regular users. 667 00:41:03,720 --> 00:41:04,920 Then there's a segment 668 00:41:05,000 --> 00:41:07,240 whose schedules are not predictable. 669 00:41:07,360 --> 00:41:10,600 For them to choose ten days, Thursday to Thursday. 670 00:41:10,920 --> 00:41:13,920 They take membership so that whenever they find time, 671 00:41:13,920 --> 00:41:15,800 just like Aman, they intend to go. 672 00:41:15,920 --> 00:41:18,840 But either they don't find time or they're lazy. 673 00:41:19,040 --> 00:41:21,080 Or maybe they eat Butter Chicken more. I don't know. 674 00:41:21,360 --> 00:41:22,360 There's some problem. 675 00:41:22,520 --> 00:41:25,080 But they have the flexibility to go whenever they want. 676 00:41:25,160 --> 00:41:25,680 Yes. 677 00:41:25,680 --> 00:41:27,360 But doing this takes away that flexibility. 678 00:41:27,560 --> 00:41:28,640 He's out as a customer. 679 00:41:28,960 --> 00:41:29,880 [music playing] 680 00:41:32,480 --> 00:41:34,480 You're left with bargain hunter, 681 00:41:34,560 --> 00:41:36,280 deal hunter who thinks 682 00:41:36,360 --> 00:41:38,120 that the charge is less 683 00:41:38,320 --> 00:41:40,040 and fixing the schedule 684 00:41:40,240 --> 00:41:41,640 might make them use it 685 00:41:41,720 --> 00:41:43,440 or maybe they'll go because they're bargainers. 686 00:41:43,520 --> 00:41:46,040 In the premium gyms category, people are dedicated. 687 00:41:46,120 --> 00:41:47,480 They continue to come. 688 00:41:47,560 --> 00:41:49,880 But in small and medium size gyms, there are many people 689 00:41:50,000 --> 00:41:51,240 who are not so regular. 690 00:41:51,320 --> 00:41:53,120 We surveyed our college first. 691 00:41:53,200 --> 00:41:55,400 There were more than 200 applicants. We surveyed all of DU. 692 00:41:55,480 --> 00:41:56,840 90 per cent of people said 693 00:41:56,920 --> 00:41:59,560 that the day this is launched, we will come. 694 00:41:59,800 --> 00:42:01,680 Because we want it. This is our problem. 695 00:42:01,760 --> 00:42:03,120 It can't be true. 696 00:42:03,280 --> 00:42:04,800 In India's population, 697 00:42:04,880 --> 00:42:07,000 - middle-class... - So, deal hunters, right? 698 00:42:07,080 --> 00:42:08,960 It's the same segment that I spoke about. 699 00:42:09,040 --> 00:42:09,600 Right. 700 00:42:09,600 --> 00:42:12,200 Deal hunters. My point is that what is the deal here? 701 00:42:12,320 --> 00:42:13,800 We have to choose a minimum of 10 days. 702 00:42:13,880 --> 00:42:15,120 - Yes. In a month. - Right? 703 00:42:15,120 --> 00:42:18,080 So, Rs 700 is spent. You just showed Rs 670. 704 00:42:18,240 --> 00:42:21,120 If I take an annual pack of cult.fit, I get it for Rs 1000. 705 00:42:22,000 --> 00:42:23,160 Monthly. 706 00:42:24,320 --> 00:42:25,840 By paying Rs 300 more, 707 00:42:25,960 --> 00:42:27,840 I have the flexibility to go whenever I want 708 00:42:27,920 --> 00:42:29,080 and also that 709 00:42:29,160 --> 00:42:31,160 I can pause whenever I want. 710 00:42:31,240 --> 00:42:31,840 Right. 711 00:42:31,840 --> 00:42:34,040 How many days do subscribers buy on an average? 712 00:42:34,120 --> 00:42:35,120 Ten is minimum. 713 00:42:35,200 --> 00:42:37,160 - What's the average? - 14-15 days. 714 00:42:45,000 --> 00:42:48,080 Cult.fit gyms are one or two in an area. 715 00:42:48,240 --> 00:42:49,640 No, cult.fit is a premium gym. 716 00:42:49,720 --> 00:42:50,640 - Yes. - So, in quality... 717 00:42:50,720 --> 00:42:53,840 The gyms below that category will charge less, not more. 718 00:42:55,200 --> 00:42:57,640 This price is of a particular gym. 719 00:42:57,720 --> 00:43:00,720 Many gyms charge Rs 30 or Rs 50 per day. 720 00:43:00,840 --> 00:43:02,000 [music playing] 721 00:43:02,760 --> 00:43:06,280 But your product offering is not so financially differentiated. 722 00:43:06,360 --> 00:43:09,000 People jump on this offering is what I meant. 723 00:43:09,080 --> 00:43:10,000 I'll conclude here. 724 00:43:10,080 --> 00:43:11,840 - Aman. - I mean, as a consumer, 725 00:43:11,920 --> 00:43:14,080 - it's not so attractive. I agree. - Yes. 726 00:43:14,160 --> 00:43:16,480 We think your business model has a problem so 727 00:43:16,560 --> 00:43:18,880 - please share some amazing numbers. - Yes. 728 00:43:55,360 --> 00:43:57,160 When you started this, how much money did you invest? 729 00:43:57,240 --> 00:43:58,960 Did you make the website? 730 00:44:06,120 --> 00:44:07,960 So, they made our website at a discounted rate. 731 00:44:08,080 --> 00:44:10,520 Good, but I'm out. 732 00:44:10,640 --> 00:44:11,680 Okay. 733 00:44:11,920 --> 00:44:15,720 You guys are still raw. 734 00:44:21,960 --> 00:44:24,480 And we learn from our mistakes. You're here on Shark Tank too. 735 00:44:24,600 --> 00:44:25,840 You will be a hero in the college too. 736 00:44:25,920 --> 00:44:26,640 [chuckling] 737 00:44:26,640 --> 00:44:28,840 Do you want to do something else... 738 00:44:29,240 --> 00:44:31,120 Find a job since you're in the fourth year. 739 00:44:31,320 --> 00:44:32,800 Don't run this business for long. 740 00:44:42,560 --> 00:44:46,240 And many people have experimented to come to this format 741 00:44:46,480 --> 00:44:49,000 that 70-80 per cent must be dormant memberships 742 00:44:49,120 --> 00:44:50,400 only then the economics make sense. 743 00:44:50,480 --> 00:44:52,920 Or you become an elite gym. 744 00:44:53,040 --> 00:44:54,680 [music playing] 745 00:44:54,880 --> 00:44:57,720 But it's still not a large market in India. 746 00:44:57,800 --> 00:44:59,600 So, you know, I don't think 747 00:44:59,680 --> 00:45:01,200 it makes sense to go again 748 00:45:01,280 --> 00:45:03,560 and try something that people have already tried and lost. 749 00:45:04,880 --> 00:45:07,280 So, I think that's a problem for me, fundamentally. 750 00:45:07,360 --> 00:45:09,240 So, I'm out for this reason. 751 00:45:10,520 --> 00:45:11,720 But the two of you 752 00:45:12,280 --> 00:45:13,520 are very sharp. 753 00:45:13,720 --> 00:45:15,280 - True. - My input would be, 754 00:45:15,400 --> 00:45:18,640 try to look at this dispassionately. 755 00:45:18,760 --> 00:45:21,800 And go away from it. You will waste your time. 756 00:45:21,960 --> 00:45:24,720 Find a new model. There is a lot of opportunity in India. 757 00:45:24,840 --> 00:45:27,240 And guys like you can build something very valuable. 758 00:45:27,560 --> 00:45:29,280 So don't waste your time. Good luck! 759 00:45:29,400 --> 00:45:30,680 [music playing] 760 00:45:30,760 --> 00:45:33,080 Recently, there was a big debate 761 00:45:33,160 --> 00:45:35,120 - about the 70-hour work week. - Yes. 762 00:45:35,200 --> 00:45:38,560 Right? People were being sarcastic that why not 140 hours? 763 00:45:38,680 --> 00:45:40,840 This just makes one thing 764 00:45:40,920 --> 00:45:42,440 - sector... - [mumbling] 765 00:45:42,520 --> 00:45:44,920 It will be a pharma sector business. 766 00:45:51,640 --> 00:45:53,960 your model won't work. 767 00:45:54,840 --> 00:45:56,360 Erratic consumer, 768 00:45:56,440 --> 00:45:58,800 there will be refunds, a lot of mess, 769 00:45:58,880 --> 00:46:00,000 plus one, 770 00:46:00,120 --> 00:46:03,040 minus one... It is just 771 00:46:03,160 --> 00:46:05,200 too much of a headache for very little money. 772 00:46:05,760 --> 00:46:07,960 So, I agree with the feedback that you've received here. 773 00:46:08,120 --> 00:46:10,720 With that insight, I think you can start another business 774 00:46:10,880 --> 00:46:12,520 where there's more potential. 775 00:46:12,760 --> 00:46:15,200 But this, don't think about it long term. 776 00:46:15,400 --> 00:46:17,040 - So, I'm out. - Okay. 777 00:46:25,680 --> 00:46:28,000 One of the players as you mentioned is Cult. 778 00:46:28,080 --> 00:46:29,520 It's an independent gym. 779 00:46:29,600 --> 00:46:30,640 Another player is FITPASS. 780 00:46:30,760 --> 00:46:33,640 They give you a monthly subscription 781 00:46:33,720 --> 00:46:36,920 which helps you access their associated gyms in India 782 00:46:37,000 --> 00:46:38,200 and use them to work out. 783 00:46:38,320 --> 00:46:39,680 This is what FITPASS does. 784 00:46:39,760 --> 00:46:41,280 They provide accessibility. 785 00:46:41,360 --> 00:46:43,320 We're offering affordability 786 00:46:43,400 --> 00:46:45,560 to customize it as per your needs and make it cheaper. 787 00:46:45,640 --> 00:46:47,320 What is FITPASS' monthly subscription rate? 788 00:46:47,400 --> 00:46:49,240 FITPASS is around Rs 1000 monthly. 789 00:46:49,320 --> 00:46:51,160 It's same as cult.fit. 790 00:46:51,240 --> 00:46:53,040 Between Rs 1000-1500. 791 00:46:53,960 --> 00:46:56,000 What will be the use of proceeds for your investment? 792 00:46:56,080 --> 00:46:57,880 What will you do with the investment? 793 00:46:58,120 --> 00:47:01,320 We have divided it into 4 parts. 10, 20, 30, 40. 794 00:47:20,120 --> 00:47:22,840 We're flexible. We want growth. 795 00:47:23,200 --> 00:47:25,840 We want to become a one-stop solution for fitness. 796 00:47:25,920 --> 00:47:28,840 We don't want to stay stuck with custom gym subscription. 797 00:47:28,920 --> 00:47:30,960 [music playing] 798 00:47:31,240 --> 00:47:34,400 If I were in your place, I would create a low-cost software 799 00:47:34,680 --> 00:47:37,440 that helps with the day-to-day management of gyms. 800 00:47:37,600 --> 00:47:38,160 Okay. 801 00:47:54,920 --> 00:47:57,840 At the press of a button, those who didn't come will be reminded. 802 00:47:58,040 --> 00:48:00,040 It will send customized or personalized messages. 803 00:48:00,120 --> 00:48:02,720 Even if I charge a fee, it will work. 804 00:48:02,800 --> 00:48:03,960 There will be no loss. 805 00:48:04,040 --> 00:48:07,000 On top of that, you can now build anything you want. 806 00:48:07,120 --> 00:48:10,840 You can build this because now gyms are using you for a purpose. 807 00:48:11,120 --> 00:48:13,520 You can build e-commerce, sell health supplements 808 00:48:13,640 --> 00:48:15,120 where they can make major money. 809 00:48:15,280 --> 00:48:16,440 People going here, right? 810 00:48:16,840 --> 00:48:18,640 I would build it as a platform. 811 00:48:18,880 --> 00:48:22,040 For gym owners. And then go solve this problem. 812 00:48:22,280 --> 00:48:24,560 If either of you was a coder 813 00:48:24,640 --> 00:48:26,680 I would've invested since the ask is not much. 814 00:48:26,760 --> 00:48:29,440 - Okay. - Because I know it can evolve. 815 00:48:31,520 --> 00:48:33,640 Okay, I'll make a conditional offer. 816 00:48:35,040 --> 00:48:36,760 - Bring in a co-founder. - Okay. 817 00:48:37,480 --> 00:48:40,440 Someone who can code the platform that I'm talking about. 818 00:48:40,520 --> 00:48:43,680 And you will first build this independent gym solution. 819 00:48:43,760 --> 00:48:45,240 Which nobody has built. 820 00:48:45,640 --> 00:48:48,560 Which will automate all these gyms and create a platform for them. 821 00:48:48,880 --> 00:48:50,240 Create a software for that. Okay? 822 00:48:51,760 --> 00:48:54,600 I feel that along with software in your business, 823 00:48:54,720 --> 00:48:57,240 using that software for specific gyms 824 00:48:57,720 --> 00:49:01,720 to add value and exclusivity seems to be a better opportunity. 825 00:49:02,040 --> 00:49:04,880 And I've done it in my business at a large scale. 826 00:49:04,960 --> 00:49:05,520 Right. 827 00:49:05,600 --> 00:49:09,280 So, Amit and I would like to come together. 828 00:49:11,440 --> 00:49:18,400 Together, we will match your offer. Rs 7 lakhs for 10 per cent. 829 00:49:18,720 --> 00:49:20,840 And along with that, we will help you. 830 00:49:30,120 --> 00:49:31,600 [music playing] 831 00:49:33,760 --> 00:49:34,920 Sir, the deal is done. 832 00:49:45,800 --> 00:49:46,960 And thank you so much. 833 00:49:48,560 --> 00:49:50,480 [music playing] 834 00:49:56,640 --> 00:49:58,520 Do you think this can make money? 835 00:49:58,680 --> 00:50:00,440 - I think I am betting - Why not? 836 00:50:00,440 --> 00:50:01,320 on their spirit. 837 00:50:01,320 --> 00:50:03,160 - Spirit of the guys. - And 838 00:50:03,240 --> 00:50:05,720 - if this is made, - Entrepreneurs will... 839 00:50:05,800 --> 00:50:07,680 and they sell it to 100 gyms, the money will be recovered. 840 00:50:07,760 --> 00:50:10,120 [music playing] 841 00:50:10,240 --> 00:50:13,080 Hello and welcome to Ask the Shark. Today, we have 842 00:50:13,160 --> 00:50:16,120 Mr Ritesh Agarwal, 843 00:50:16,200 --> 00:50:17,920 CEO and Founder of OYO Rooms. 844 00:50:18,000 --> 00:50:20,600 Sir, you have many fans. 845 00:50:20,720 --> 00:50:22,440 They have questions to ask. 846 00:50:22,520 --> 00:50:25,160 So, if you don't mind, I won't take much of your time. Let's start? 847 00:50:25,280 --> 00:50:26,040 Please, sure. 848 00:50:26,120 --> 00:50:27,400 The question of the day is 849 00:50:27,480 --> 00:50:29,720 from Mahika Sehgal from Bikaner.