So Shark Tank India has finally come to its season-end. We got to see some crazy innovations and brilliant ideas. Sharks offered every entrepreneur some advice that might help them become better business persons and help their company grow. While some had to walk away empty-handed there were some who cracked an All-Shark Deal.
All-Shark Deal is the company/product in which all the sharks showed interest and invested in the company together. In all, there were three All-Shark deals made in the first season of Shark Tank India. Read about them to know moreā¦
1. Skippi Ice Pops
‘Skippi’ entrepreneurs started their pitch by reminding the sharks about their childhood days and the ice popsicles they used to love as kids. They said nowadays it’s difficult to find these around and even if one does find it will they be able to eat it considering all the artificial colours and chemicals that are used to make them?
This is where Skippi comes into action. They make Ice Pops from 100% natural colour, natural flavour, and natural sweetener. They have removed refrigeration from the process itself seeing the problem of supplying frozen goods in India. Consumers can simply purchase it from a nearby store, freeze it and enjoy it in the comfort of their home.
Sales and Marketing
They have made a sale of about 40 lakhs within the span of 6 months and about 7.5 lakhs in the last month. Their approximate selling price is about Rs. 20 per Ice Pop and manufacturing cost is about Rs. 5.
Offers Offered and the Negotiation
Skippi had asked for 45 lakhs in return for 5% equity in their company.
Shark Anupam presented the offer for 45 lakhs at 5% equity. Sharks Ashneer and Namita presented their offer for 60 lakhs at 5% equity. After some discussion, shark Aman came up with an offer, along with Anupam and Vineeta for 60 lakhs at 6% equity. As all the sharks were interested in the product they made the first All-shark deal of 1 crore for 15% equity. The couple went out for a discussion they came up with a counteroffer for the same amount but at 10-12% equity.
Closing the Deal
Skippi Ice Pops team, after negotiating with all the sharks, finally closed the deal and accepted a 1 crore investment for 15% of their company’s equity. This was the first All-Sharks deal.
2. Find Your Kicks India
‘Find Your Kicks India’ entrepreneurs started their pitch by telling the sharks about the craziness there is out there for sneakers. According to them, these sneakers have their values increased with time, unlike many other products that lose their value right after purchase. However, they also raised the issue of these ‘Sneakerheads’ not finding/ being able to purchase sneakers immediately as they are released as they get sold out pretty quick.
This is where Find Your Kicks India comes into action. They list the sneakers online and do about 20 quality checks to ensure they are not fake. They also give customers the option to resell on their platform. Right now, they have about 4000 sneakers in their store.
Sales and Marketing
Find Your Kicks India claim to have sold their products to many customers to date through Instagram and social media marketing.
They have made a sale of about 26 lakhs within the span of 8 months and about 3.5 lakhs in the last month. Their approximate selling price is about 20k per sneaker. They claim their net profit is 17 lakhs to date.
Offers Offered and the Negotiation
Find Your Kicks India had asked for 50 lakhs in return for 10% equity in their company.
Shark Namita and Ashneer presented the offer for 50 lakhs at 30% equity. After some discussion, shark Aman came up with the same offer, but he had all sharks come in on it, giving them 6% equity each. The team went out for some discussion and then made a counteroffer of 50 lakhs at 20% equity. After some negotiation, the deal got revised to 50 lakhs at 25% equity.
Closing the Deal
Find Your Kicks India team, after negotiating with all the sharks, finally closed the deal and accepted 50 lakhs investment for 25% of their company’s equity. This was the second deal that had all the sharks invest in it.
3. In A Can
āIn A Can’ entrepreneurs, Sameer Mirajkar and Viraj Sawant started their pitch by bringing in a bartender and telling the sharks how difficult it is to make a cocktail without one. Their product is Indiaās first ready-to-drink can cocktail. Having a cocktail like this one does not need a bartender, glassware, ingredients, or ice, they just have to get it chilled before having. They have about 5 flavors to date, which are, Vodka Mule, Rum Latte, LIIT, Gin N Tonic and Whiskey Collins. These cans have a shelf life of nine months.
Sales and Marketing
They have made a sale of about 60 lakhs within the span of 3 months and about 23 lakhs in the last month. Their approximate selling price is about Rs. 140 per can and manufacturing cost is about Rs. 55.
Offers Offered and the Negotiation
In A Can had asked for 50 lakhs in return for 2% equity in their company.
All the sharks were interested in the product and wanted to make a deal. After some discussion, they all came together with a deal for 1 crore for 10% equity. In A Can entrepreneurs did not make any counteroffers and accepted the deal.
Closing the Deal
In A Can team just received one offer from all the sharks which was 1 crore for 10% equity and they accepted it with open arms. This was the third deal that had all the sharks invest in it.
