[music] [music] [music] [music] yes brother where are you going yes I am going on a ride hmm let me just finish one pitch yes okay sharks You understood it after seeing my actions I am a rider since last 14 years I have biked more than 1,200km We Indian riders have ridden a lot They are strange and our Indian riders There is no swag brand for So we saw the same idea and we made Vandal Loom started the Hi my name is Pratik I am from Bhopal And I'm the cofounder of Wonder Lass. Namaste. shaks my name is deepesh srivastav Sihar is from Madhya Pradesh and I am an intern I am a turn cofounder of Vandal Khas Indian An adventure apparel for riders and All our merchandise is brand The products combine comfort, utility and style Designed with you in mind, you Bhai sahib can be seen that he has He is wearing our riding jersey Inside we have matched to increase air flow It is incorporated and it is Indian It is also very good for the climate now Our colourful riders sometimes seem to be going astray Will you ever go off-roading in the jungles? If you start doing it then it will increase their visibility We also added a reflective sip for Now if an Indian rider goes to Ladakh go and the spirit goes away and the world It is not possible if you do not beat the drum For that we have created a destination themed Riding jerseys have also been removed This is our Poly Jani Treated Bhandaana Poly Jani is a patented solution that reduces sweating the smell is less shaks we are online Our Beetu is also available in the platform Our two wheeler is also strong I also have a deal with an automobile company and I Proud to announce that we are an International has featured in rallies such as BAJA and Shakes in Dak Our further vision is that we Cycling, Hiking and other adventures Utility Products for Activities If you take out all this now then it will cost money So our ask is 50 lakhs per % equity Sharks I believe Wonder Lums ahead A one stop solution will be created for everything For adventure seekers then would you like to check out our Are you ready to go on a ride with me if yes so on the bike wonderful prateik and deepesh welcome to Shark tank thank you deepesh for what you did Told you intern turned cofounder so what This is the story of how you got this promotion Ma'am I have done my graduation in mechanical but from the start in designing I was interested so I did it from Pune I did a diploma course, then I joined Prateek's I went for an internship in 2019 The whole journey is with them from 19 till now I was with them so in 2021 they finally By promoting me from intern to Pratik, you made me a cofounder, tell me you What quality did you see in them due to which you Why should they give the founder a promotion so soon? Diya ma'am when he came to me he was a Sior I used to travel almost 100 km up and down everyday from here Wow, he came to our office in Bhopal Seeing the thing that brother has supported and designed it works well as you can see all the designs It is possible that these were made by him, so If a couple is formed then it is good for the name Deepesh has made you a cofounder along with I did not get any ownership, there is no ownership No sir how much ownership do I have 25 oh so You are a proper cofounder, well done and how many more There are people in the company sir, we are totally together 16 People are people so how can you be a symbol I developed a passion for riding in 2011 when my father told me He was happy and sold two or three plots Call me and take 50 Rs 6 and go with your bike I mean buy a bike, now if you go to the showroom then it's like this I tried it and then asked how much it cost He said it will come within your budget. From the agency till the time I reached home I travelled 152 kilometres I understood what I was Missing then they called me for a ride Like every Sunday is a short ride to tax have they wanted to make a community wanted to make a riding club so that became two Ride Club Bhopal started with that Was the first registered riding club in How many such communities are there in Madhya Pradesh There are more than 80 lakh riders in India today you will see all the automobile companies Now going premium above 400cc So this is a complete indication that riding The community is becoming very strong What fun is there in this sir, you are intoxicated by your own I am mine, he is mine, do you think anyone There is no tension of mobile ringing The mountains don't speak to us we talk to the mountain wow even now Biking clubs have been formed even in recent times Often we hear things like Even if one or two of my friends died What do you guys do for safety in this? Look at it this way, if I say it in simple words So the passenger is responsible for his own luggage Isn't it so basically your health is one It's a responsibility I share with you I would also like to have a ride on my heart If the attack has occurred then he Yes, I have a heart attack stent installed. Yes yes so how many stents on 5th July 2020 How many stents have been placed? Two have been placed. So on 5th July 2020 I am going to take a ride I went inside the jungle, we were almost 141 We had gone several kilometers inside so I felt a little I felt like there is a fellow rider of mine who Dr Kedia is a cardiologist I called him and he said friend a little If the symptoms seem like this then 40 kilometers sitting on someone's bike He reached the hospital and his life was saved Life is an adventure written here it really is It is a live adventure, there is no such thing that Brother, you liked it, keep it now Pratik brother The market is rising and this premium What is the market share of the bikes market It will now be 300 cc more than today 11 to 12 lakh bikes are sold every month Meaning 300 Rs, means tell me the price in lakhs Those are bikes above Rs 1 lakh The market is growing, I ask this question That's why I am asking you a little bit like this It seems that the market you are trying to capture Are you the guy who will buy a bike worth 2 lakhs It is a bit expensive product and clothes too If you buy it then whatever market you have, The person you are catering to is above 2 lakhs Are you the one with the bikes or the one below sir 2 Our nature is simple, Sir, those above lakhs But this jersey you are seeing is Second hand is most expensive in India This jersey is premium and made in India This is the product sir this is us on average 00 one Which jersey do they send like this one You can see this 00 00 so our average is 00 average that Is This jersey is not just for bike riders We have many more such customers who buy Those who go hiking also take this Paragliding, cycling means that too in main We have customers who sell these jerseys at the venue as well Do you get the clothes, you said that you have them, right? If there is a wider market then what about you Differentially, like this win sheeter you can see so if you can this is a hiking one and or A normal routine computer can also use it If yes, then we have kept its price at 000 And how much will I get it for in Thalan Minimum 000 and any other brands in this whole in space in india in d2s jo SIMILAR WORKING LIKE A BRAND 100 PMPA he has been doing this for many years The rider is doing that, if you are technical If you go into the product then Nux is doing that I think how big is the scale of the snake must be doing around 10 to 11 crores row has got holiday with in to india bajaj Wright brought the trym and this Joe Community is 400 cc plus can afford this You can buy expensive clothes which are of that category If they are in your premium category then they Those wonder looms will have to be shown branding Why would you show the branding of Ma'am Joe The people of Trym and Halle are very it is less, they don't exist that much and one He is particularly concentrated in the city Great white hands is the community mindset from ours we have life style utility and a Good price compared to other models like So you went to Ladakh and returned to your Back to boring corporate jobs So now no one can go there anytime, it is boring okay so you want an appearance like this In which your personality can resonate So to make that personality resonate Bundle Lum is this riding j Take this, it is colourful [music] Look, first of all you have done a lot well made it took a long time thank you so much means you Your test is fine and you should try all this And they were touched by this thing that they won't get it in hog Royal Effie makes her own apparel lines makes it and I accept its products hmm the fields won't be that expensive that T-shirt which you are holding in your hand What is its price and what is 3x this we sell it for 00 sir and ye eff this It sells for 1200 to 1400 and mostly Yall Effi Sells more technical products Technical meaning is basically riding gear which We are used while riding the rider Sells lifestyle products that flood the market could you read this it's beautiful it says a person in wonder looms clothing who is Crazy About Adventure Day Dreams of Ladak and speedy with savings only enough for the Next Ride Welcome to the Community How cool you should put this in everything this is Very cool is the community you can build your community will be your target this Amazing, I will give you an example that How strong is the community? I just had a I gave the design which I gave to Anupam sir White coloured Jakar t-shirt our three four There is a group like that, I posted it there and that When the riders saw it, how could they come from there This is nonsense, stop it, our 50 T-shirts ok do it very good design red and yellow in it, make it like this without Do manufacturing without print Absolutely real feed to real customer feedback Samarth so what is the scale now Business history in the previous fiscal year in the year we did it in 2.61 Gross Gross Net Tax and 2.32% returns and profit There was no profit in this my 30 beta Tha wow we burnt 3.5 lakhs in a month So from where did you get this money, your funding sir Our First Round this your community gave the money Papa sold another land sir papa's words I am a rebel man, I didn't take even one back What is a rebel sir, a rebel is basically He is the one who doesn't listen to anyone, what do we say Rebel says how will you listen to us now I will accept it sir just see what happens next point why do you think you're a rebel because I had to do it on my own. I had to do it on my own. I had to build a brand, this was my victory I did not make this for business 14 years of experience is invested in it, therefore Are you making a loss sir, we will go ahead Our vision will also be profitable If it is profitable then why is there a loss? What is the big deal in this in your community? You said the catering is so big there You yourself become known for your What does it mean to make a loss in the community? yes sir basically when we go on online platform If I do it then the percentage there What do they say about paid media ads that He remains our major, I mean in a way Performance Marketing is a Pit Percentage e performance marketing sir Our total marketing is 38% How much does the total marketing cost? You had taken the round sir, we had a total of 43 Was CR raised valuation valuation The pre money was 4 crores at that time, good and When did you raise money from Angel in September 2022 I gave it away in the first round at almost 30 26 Why is that so Sir? Now they I believed that we had come from Bhopal at that time Ours was a partnership firm sir so someone So you trusted us, otherwise people would not trust us Whenever we went to pitch somewhere, this He used to say what is your motive what is your motive if so then first of all [Laughter] Tie in Nurture We have gone to nurture our tie The festival took place at Hamari Shaan in Pune So there was a boot camp there so in the boot camp We thought it was over by now, 5 o'clock. We will go for a trip to Lonavala, then he said that if you want to create a business model The canvas of the business model is the first step in life I had seen him once so I made him understand that at night Made by 3:00 pm and meaning in india We were in the top three out of all the quotes When people come, they should understand once there is clarity in La be here in an hour tell me one thing like the apparel market which it is already very crowded so in this There must be more people working on Sir Crowded There is no market but this is its plus point that if you look at it like a business No one in the world will be able to run this because because he doesn't have that much experience how will you make it resonate unless You did not go to Khardungla when you went to Umanga no unless you've got the water in the snow If you don't drown then how will you make the world, sir You will have the best technology But what I have, we have a It is not there, right sir, how long has it been last year Revenue was net in 2324 before this year It was 2.32 and before that it was 1.26 Last month what renewal last month we had 32 Lakh did and loss sir almost 5 Lakh and what is the inventory now how many Monthly inventory is Sir Inventory Almost 55 lakh entry is just three months away How is the event channel distribution? How much is online and how much is B2B 31 It comes from the website and the group you mentioned They come under this, yes sir, yes sir, second one Which are the channels other than direct The market place is at 43 and B2 B 26 ok so how many days in a year do you tour You keep on living sir, now things have become less serious It is necessary for the business to be done brother If you lose like this then you'll have to be serious There is someone else in the Prateek team apart from you Yes, humans are in the team just like nature She is also my sister and we called her the founder He has given staff to the Chief of Staff, what is that? They do everything, she just takes care of everybody She scolds everyone, what else can they say Yes, and she handles CRM as well. Tell me someone else who is our CFO sir The CFO has a background in BA Accounting She has completed her studies in BA in Accounts I am studying B.Com Accounts and now for c fan amazing guy brother now Sir what is e-commerce in Bhopal Mixed background is a very new word By looking we catch what we see Mixed background is telling about 300 cc Bikes and what else is in our inventory right now He is a manager in a bike agency. When he used to work, he knew about the inventory which in and out happens how Dispatch is done by maintaining excel sheet What would our first man say? He used to work in a courier company I seduced her and called her and then trained her that bro how can i use ship rocket That's absolutely correct, listen to me. Prateek I think you guys Dipesh Hasler is solid yes friend, it means you should consider doing this work as a business He was saying that he had never heard of business You never saw the plan, yet you Now you have made a business out of a passion I don't know if that is a business or not because Not making profit but what do I care I am facing problem with any design The language is not visible here, there is a passion One thing you have the courage to do but no one Creating an aspirational brand or product I can't see these mugs of yours are they jail or not I haven't gone to jail nor have I heard You will see better quality mugs than this You will see its paint has still peeled off remained and at the same time you are saying that you are a It is a premium brand then you can choose your price are you telling me from the bottom Come, I think you should try to understand something there friend Wisdom does not work only with passion that is very important in a comparative speciality to build a business and you have raised money if yes then how will you do it I don't know but for Those Regions Aam Out is an input if possible then I have some money turn profitable return this capital and Make this business your own with your passion do i think you will be proud of that thank you you sir how many of you are there today community members are connected and other Link to it How much cash is in your bank today But if I talk to you personally then I am a peacock I am connected with more than 50,000 riders today Today we have 9 in our account in Over India There are lakhs of rupees lying around and we have spent just one second The term shut of the round can also be considered as a meaning and what is the cost of term sheet, approximately ₹ Term deposit is Rs 12 crore So if I understand correctly the symbol looks a bit like this I am getting the feeling that if you get the term sheet which You are saying that I am getting it, I am going to get it There is a chance that this could end soon Yes, in this business, you just have to I can confidently say that it is not over yes sir i agree we are riders what do you say, enough for us I need to improve, I accept that sir But there is no doubt that it will be an improvement. It is not there and it is growing sir He shut down the term for the next round But yes, we have given the term loan even to you. What does financial due diligence also say it is complete means now I will do it for you By the way I will tell you what your percentage is On hearing this, I remember myself a little bit on the 26th I made my first round at ₹18 lakh I gave and took, this was my condition like you I went to many places and people used to say that brother what is Mot What is your business degree? Tell us So I had no idea who the first person was If I took the money from him, I would feel There are many more opportunities in the system I would like to tell you that we have a hotel in Nalagarh I go to our hotel every week Restaurant sales are around Rs 4 crore Only bikers come out from the group, see I think your business has potential I think we can do something together purpose is more important than profit In the long term, if you are community driven If you are ready to build a business then come to me An offer from yes and Namita ji if or I mean we are on The Same Page The best thing I like about you is this I felt that you said that community is yours mote to ritesh and i would like to come Together and our offer will be 50 lakhs for 5 Equity Chach Values You at 10 Cross we will add massive value to you Because Sid Lal who is the owner of Royal Enfield He is our good friend, we will tell you about him We will introduce you so that your business expands could do many things in our travel industry We are directly connected with the groups yes we will introduce you to them So we will add value to the wonder lam inf that How can people create a Bigger Wonder community? absolutely thank you so much for your offer sir paj Sir you are peace sir see in your business na the you have to Understand that this is a broad discussion The focus in your business was on one design It can be made, yes it can be made at a cost and The third can be made in execution Unfortunately, you are doing business today Yes there is too much of it Differentiable And bring those whose this area is strong and Channel your energy and passion could bakul do it right so you need people around you who can balance that emotion for you Lastly I would just say that you are empty You should not think India centric Global should think that today I am out of this hmm because i think you have a very there is tive offer also yes right best of luck thank you you are so much sir thank you so much to me I'm scared sir, are you scared? This is today's joke sir, you got scared no listen further listen to the whole story I am scared but it feels like I can do something yes it is ok passion to profession project Raha hai ch is good and passion is to profession hi Let's move forward if you feel like it It doesn't feel like work to do, it feels like that you may correct something unfortunately somewhere Need to work on product design deepesh you know you need to up your skills there so i will give you an offer to help you there 50 lakh for 5 per chach is the [music] same my hubble request is like this sir In our riding we speak of new friends To make old friends you won't forget It is also a matter of honesty that brother, we I took a term sheet from them and went and told you tomorrow that ok you give it if possible then it would be 12 lakhs 12 crore pay value There is a loan of 12 crores in this I will tell you this I will say that you will talk about the old one and not peace The Guptas are coming and the sharks are coming Maybe he won't refuse you, but four more There is a difference of only five, if it is not that much of a difference okay i'm on four jata are you ga match hum match [music] will do tus Rhys is our choice Ritesh Sir and Namita Maam crores of rupees lakh good me out o curiosity one If you want to ask a question, the founder always comes and says why don't you all join together Why didn't you say this after that you guys You say that we are now on 4 6 B B R we will take the bat Oh, I gave you such a good pitch, choo why didn't you choose me to do this what sir give me its major that was one so give There are two sharks, one bigger than the other, and this is that Sir who has helped the riding community and Our goal is also to create a community This is only what we are realizing in 2023 and that's what we are going to do ok you did and today you also taught me that whenever Entrepreneur means I don't say that I wanted it but okay if you understood it then it's good talk is going to be one [music] [music] Hello Sharks my name is Samiksha Hello Sharks my name is Rahul and we are I have come to tell you a business story So this story starts with my best friend. She was always with me no matter what Whatever be the situation, he always helps me Someone used to make me feel comfortable and safe Whether she supports me or not, she always supports me But a few years ago, their relationship ended He took a toxic turn and is angry with Rahul that he did not take care of her and she He takes it for granted and he takes a break from me I wanted to take the sharks by the way, they are here But [music] hey god i hope it's not what i think at least what you think kachha shaks ye We are not only Rahul's best friend Everyone's best friend is our best buddy tights So to patch up this underwear we People started UGs in 2022 Key Uggies India's first specialized Sharks gin is undergarment wash Crores of people use detergents to clean their skin They are doing this to control their underwear are made from harsh chemicals that not only Your underwear is ruining yours Intermittently disturbs the skin's pH level can cause itching rashes and even UTI can also cause infections such as You can keep your underwear clean with Sharks Uggies Properly clean in just 30 to 40 seconds And if you can disinfect then forget it Now those are the old days when you used to scrub with soap make your underwear blue and yellow Sharks are making it harder like this FMCG industry is not just about new products There is a new category in I have added Uggies till now More than 1 lakh through online mode delivered to the customers and the sharks this Liquid detergent is just the beginning The market is worth around Rs 2 lakh crore globally We are a small part of this market But now thanks to your support and your With expertise, we can become a big person players and that's why our ask is 50 Lakh against 2.5 equity so let's shakes Bringing Uggies to every bathroom in the world So that no toxic detergent becomes your And the bone in the kebab between your tights very good to rahul and samsika yes how did you get this innovative idea so basically There is a small story behind this majority Like the boys I also wear my underwear I didn't wash myself but when my review After we got married then Samikha told me toka that means at least you put on your underwear you wash your own so i washed my underwear myself I started washing it and I did the same process again. I used to follow and review, so that was the same washed it with a blue coloured detergent bar and Then put a little disinfectant in the mug I dip it in and wash it to me The process seemed very complicated So I have never used liquid hand soap before Wash with any product randomly using shampoo I felt like I was struck by such an idea Is there a possible product that you know make this process very easy and Plus it is a correct product in particular About Washing Machine for Cloth I have heard that nowadays everybody in India is buying there are many villages in the village Put some detergent in the clothes Put a lot of choice of detergent in your hand Detergent will also be available: New Age Detergent You will also get which is clean green everything in between has a little dis in it Add infection and that too organic clean Green Everything What Ever You Finish Why are you making it so complicated bro yes friend means why will we know next time There is a different washing liquid for each finger to do i mean why so We did a survey, and The result of the survey was that in India Main at about 40 and Vaman at 80, that's it If you want to wash your underwear by hand then we have done this survey Whatever was done, it was done only in urban areas what was there in india as you understand yes specially memon underwear its a taboo That means if you go 253 years back then underwear ka memon so it's an invisible thing for men especially like that means on the wire When we used to dry it we used to cover it with a scarf There and then when you bring back the cover The towel was a habit and it was a habit of Because even today the washing machine is at 80 she doesn't put it in her hand Another big reason is that Memon at least means three to four times a month for four days If you give it to me then it will have blood stains and many other things If there are such types of bio stains then Anyways I don't even put it with the rest of the clothes can you get it in your pitch you should have damn Stayed with the woman use case your use case you by demet you completely through me of no so It's a unisex product yes but more its usage is from vomit its actually lamb Rahul you started your pitch with Humor I think if such a tough case is explained You adopted a different approach to hota for example you know that fungal Vaginal infection in India today The vomiting is so high due to this that you don't even feel any pain issues occur if you take that angle either you would have been caught in this case and Advise investors in a good manner so my request to you for r Next pitch, you start with this. Because this is a real health issue for Indians Memon maybe you need a nail no what is your background By the way I am from Vidisha and I have done B.Tech in Biotechnology and I Masters in Fashion Management from NIFF Delhi and me and Rahul when I completed my B.Tech We were together, that's when we met I have also done B.Tech together, I basically came I was born in Meerut to do B.Tech. Nide came and then I did my MBA After college, I started my family. I had joined the business and my uncle had just started it bye my uncle in that we are pharma and Primary packing for cosmetic industry supply the material and when did you start again We did this business in 2022 Had lunch working in packaging business yes you guys are still my little brother Mayank to Mayank is completely taking care of Now there are so many good detergents available these days wash them or do some chemical with it Is there any difference in the product? Yes which are regular detergents already pH will be around 10, so it is more Towards the Alkaline Side and It Again Harmful for the skin because underwear I have a problem with that, but you don't care about him No matter how well you rinse it, a little Residue remains in very micrograms because of which you may have felt It gets a little stuffed and gets stiff After drying and the intimate skin here yes it is a little most by nature There, even if it is in micrograms If it is absorbed then it can actually trigger infections like UTI also your What is pH level? Our pH level is 5.56. Chach is the safest your All energy will be put into education Because this is a problem of category creation If you are looking very good then this one is very good The catch is that we have AIDS, we are females Aman, you know, they run their operations by targeting only It is a little difficult to understand, perhaps because of this You must be thinking because it is not a man The problem with girls is not this They have a problem when we market to them about this product so our The conversion is very good this is the main bottle yan ball this is its travel is this refill packed pack minimalistic packaging minimalistic It is good to use design aesthetics etc. thank you so much i myself designed sanir well From done well done fun to the way you packaging very good means a lot thank you but it also looks like a little more premium it does pricing also suit you like 555 And it lasts for about three to four months. How much does a normal detergent cost approximately? Around 00 liters 200 to 250 or around 00 How many brands are available per liter in India There are around eight sellers in this category More brands have come after us Baad Aman you were saying one thing that this is your The product is very premium, we have made it very intentionally made because we consider UGs as a Positioned as a lifestyle product because if you think about it then wear it is very much part of a fashion and underwear Just like it used to come in ₹ earlier, now it is exactly like this Now you can't touch their underwear with a tikki If it gets worn out, the underwear will definitely get spoilt No, we will make this claim from UG in two-three months This will double the life of your underwear it does not become too much but nowhere is This dialed up if you get this proposition Bringing forth Somewhere You Have To Say Doubles The Life of Your Underwear 2255 By looking at it, it seems that for a week I will end up not registering people This thing must be unique, do you know what this is The features of the product are so many and we The space nearby is so limited have a pamphlet inside ok you understand Even if you put it in bullet points it could make and in a fun way in a fun way that Can be done here you have written share your Experience Here and then get a code here If yes, then how many customers have shared their experience have you done it and tell me a little about it On an average every day we get five to six comments They come on There are 2 reviews on instagram and they are 1000 plus and Our rating is 4.5 on amazon2 market place hai there pay on n Average rating is 4.8 Nice yours 100% Sale is online yes from your website How much is it on 51 and from the market place amazon2 is on and 2 from blink 2 From [music] Last month we earned 29 lakhs How much profit do you make? Are you making profit? no right now how much are we burning but negative So we are burning ₹ lakhs right now Monthly commission is 25 cox and commission is 6 and return is 4 End Damages is 7 Salary and Wages is 26 Shipping is 26 hrs or shipping expenses Shipping is a [ __ ] Our marketing overheads are 36% So today the biggest player is detergents The wheel and the watch and all this is just awesome. So how do you protect yourself? We are thinking that we don't have peace in this We also consider that thing to be the biggest that is the early mover advantage and no one else There is no advantage in this so we are not in it That's why already we mean enough Being proactive means that we Find the gaps yourself and understand them We also take feedback from customers and try to fill it so that you can be as efficient as you can be Customer but as a chemical there is no patent Some formulas are never patentable if this were not there then basically if today you would have been Anupam If they want to do this then they can do that too They can do it, but I don't know how effective their product will be Tell me what your vision is and you won't I'll tell you a little about how to get there I will tell you the calculation right now Consider only vomiting and that too which is menstrual vomit only urban Population Good With Some Kind of Disposable Our income is approximately four to five times that of our population. There are crores of potential users in India like this is a practical number which I I'm telling you that's why we have set the price point It is kept in such a way that there is a large population support How big a company can you make? Why? Yu Shang from that na how old is she in years Will the company be formed? Will your revenue be today? In this year we will be in terms of revenue I can tell you that at least At least we earn 5 to 6 crore rupees per month Will you be able to generate revenue easily? You will not just do detergent business Intimate But Will You Ever Go and Your Own Detergent is probably not there, why am I not afraid No, because we have created a new category Create Underway Hygiene Around You wood like to stick to that who is the ceo of the business i am the see sh the see we are you the CEO why not because I deserve to be the CEO well done well said well said because she actually deserves it [music] Your business is something that I feel is enough It's very delicate, very nice, and I groped you To understand a little bit, is your vision big So if you are left holding the niche then how much is there Will the business become big? Will the valuation increase? It is very unclear how to get an exit yes but i like you too i think you are a guy fantastic is the determination you have made and the The way you designed the product and your thinking aesthetic and even from a The product stand point is quite strong I am ready to give you 50 lakhs but I will Tech Fi because this is going to take time and this is going to take an effort I noticed that your Which is a quick commerce business you said only 2 per of your sales is coming from that because we've just started this The bucket arrived in seconds and we were all from commerce We work very close to each other Brands have we put them on them very Quickly and you know how long the line is She is engaged in commerce, right in this You will need a strategy if you are If you stay down someone will come and take away your business Buddy will come create a category spend 10 Do advertising, there is no need for 100% is this kaise and finish so thatchi for the offer thank you so much which i got It has been bothering you since the beginning that you In this, you have to create a brand and your entire I wish I had that sharpness in communication Is it anywhere I see an emphasis on it If he is not there then because of that I am not there This Brand Can Help You Feel Confident Scale This product has a lot of potential It is time for the product to become an OTC product Wide range of doctor ramas ganis who can actually recommend this Product Aman I like your perspective I was going to be out but i give you an Offer Aman and I will come together and we will give you I will give 50 lakhs for 6 Equity by the way clock is sticking my offer wat be open [music] Sir once we Ritesh sir and Aka S please You also have better offers which you can avail Ready to spend time and trade at the end If the distribution takes a lot of time I think I was at the same time someone else I will tell you with the company but among you people Very incredible strength as a combination You will do very well, many best wishes, thank you So much I think the problem in this business is this that the last two-three minutes that I took in D2 I have seen it in the season on a certain scale When you come there it is a struggle, then a lot of scale is there A big issue comes up and because someone is defensive It's not a moat, it's a marketing game where the money goes const net it i l about execution i I am out of it right now but I have an advice for you. hey i would say you should tie up with lazri Brands create the category and earn money through it will come just like when you go to a shoe shop They sell polish right then I think I would Highly recommend that is a very very good way for you to scale to the Business is late possibility of all three of you can no i will not come with you what is the problem Isn't it about ownership, what did I say in the beginning Friend, there won't be that much work on one or two It will take our time if you want the time if You don't want the time and not invest it People 3.3 per for 50 lakh can this be done i I will give you 4 but yes or no now Tell me Arva is talking to this person rather than us all i was talking to is sorry 4 but yes And no yes no haad doon no so unique deal is confirmed great decision namta and aman thank you so much for thank you but really sorry li ya judgement more even now today home I have to go and worship, well done both of you well done meeting thank you the best do well thank you the best Namita has her own network in you know in doctors and medical angle which is our It is relevant to the product but is unique one shake he goes very deep he will help us Lot I'm Shar [music] [Appreciation] [music] Yogesh I started my own marketing agency I am unable to understand where to find office space Are there such huge office buildings somewhere? Also take it in big buildings Small office spaces are not built why is someone creating so much drama Take my four to six in the working space There is a team of people to buy basement apartments I have tried all the working spaces and A good co working space within my budget Hi Sharks I am not able to find you my name is Sarthak Yogesh is with me on India's 99 These are micro businesses, everyday They face the same problem because of their size Good office spaces can be built within their budget No one has brought a solution for this problem Is Working with Teff in Your Spaces Micro businesses can avail this facility from their budget friendly I would give my private place in the prices Along with this, such an environment is provided which is done by top notch companies of India Also from modern and professional work spaces Sharks are better off without any investment we started with a basement With only two seats and today the Eight Lite model We have more than 7000 patients in 12 locations With seats and we have signed six more new locations 4000 seats have been added and Whether our customer is a micro business Yes, but our vision is not micro Our vision is to go to every city Give a macro feel to micro business And to fulfill this vision, our Ask is 1 crore for 75 so the sharks move on now the next meeting is all teff In Do great so Sarthak Yogesh welcome to Shark Tank Thank you I will do my meeting All you need to know about lens cart use is have an office or in all the taff i've been a customer and one thing you know is that you are engaged yes bro since when i mean its been five or six years same energy and boot step so good to see you here but yes i never asked you either you what it is that good and bad it's good good I don't mean that this also means that someone has taken money no no i don't think he did If you ask for a reason, they will tell you, you tell yours what is the story, did you ask or not, how is it going So our journey has been independently Yogesh and my journey started in 2010 I did engineering from 2010 to 2014 From We understood this only during college at NSIT I came to the conclusion that we should choose a conventional job or Probably at the site of post graduation We didn't want to go, so after college, we both took a job in Gurgaon itself for his job After post office we are doing different projects I started working and the first problem was This came to light that where to do it after office Where If you see, we have a place in co working space I had to take it and then start working on my Other projects in other projects So there wasn't that much turnout but we I got quite intrigued by the working space Because actually they are like us was solving the problems of businesses and Then we put our minds to work In spaces and we tried through cafes Make cafes work during day time to shift into did I understand at that time that in cafes There are a lot of infrastructure issues Yogesh at a random guest house reached by chance oyo guess sauce tha woh end There was a basement and two dining tables It was in a bad condition, we told the landlord this He said that you just give us these two dining tables Let me sell two seats and whatever money comes We will buy more furniture from that and replace those seats If we sell it, we sold those two seats and got 0000 came and we took more furniture gradually By converting that basement into a 60 seater Created a working space and generated rent of ₹ lakhs what started happening was equivalent to what was complete The guest house used to generate them very nice The landlord was very happy with this By this time, we understood the project what is the requirement of the people today Tak is followed in all teff that every one Micro business, no matter how small it is Ideally we wanted our own space so what did we do Sorry Ritesh, from the upstairs rooms we went upstairs got the beds removed from the rooms and start inserting the tables and the office said that Come on, you have a private room in which If you have a personal washroom then this concept is useful The whole thing went off There was a building that was converted to all the teff In working, OU became all teff Today, every single product of Teff is at 99.9 All the seats that are in the inventory are It is only available in rooms, even if they are small rooms Even if each room is slightly bigger Slowly the landlord starts to be conveyed do that you fulfill your entire Furnishing is an investment for us Design the space as per our requirement and then we will move but still our If you did not have the capability to take rental We will give you profit sharing even today Profit sharing on all your properties takes on the model where the whole How much does investment land load Your profit share is our property Generally the profit sharing is 70 to 30 of which 70 goes to the landlord Our target market is quite Everyone's working is different from ours The target market is micro businesses only Only companies that have 3 to 30 seats They are and it's not every company that Want to become big by starting a startup Explain in a simple way how many There are different types of co-working and its What is a model and separately from it both customer and supply side if I am a If I talk from the member side then there are two matrix There is a seat to divide the market Size is second, pricing so from zero seat Coworking up to 150 plus seats Space Offices are businesses that offer major There are working segments that have more than 30 seats Up to 150 seats which is for small and Medium Businesses with 150 plus seats The requirements of the customers are their The offer is managed for Offices only do this model e.g. Smart Works Simply Works on Demand This is the first model where the client will come Space will be created accordingly, it will be managed In the speculative model, Majorelli is Working spaces are more targeted Big Clients There are many lucrative factors behind this Your center gets filled up quickly All these dependencies are long term There are factors due to which a Everyone thinks it's a lucrative business In both scenarios of working space Micro Businesses Are Looking Over Today So we're headed in the direction where we are now Till there is actually someone dedicated to work for them is not doing that where our pricing is Lets have 1000 seats on WeWork or premium for working space Pricing will be Rs 15,000 to Rs 177,000 per seat wood like one of the voluntes on if you can come Let me show you a VR experience I would like to take you from here virtually Go I would like to say that these are our most recently launched faces it is about one and half month ago where is this It is located in Gurgaon near Sona Road Circle. You have to go there and click on it oh nice so this is our entry point here which is the lounge which is the interior and which is the cafe The design is almost equal to a premium co working space when you are looking at this place You just can't imagine it that way Imagine you have a big office We have to do those four seats which a lawyer gives his two wants to work with the associate or if you are an office within an office then I I am taking seats from you even though I am Taking office for one person or eight people or 16 people You will have to pay for Datchi, not for six Give me everything but this is our inventory If we make it according to the data then our It becomes clear from the demand that is coming and this helps us to survive even after 90 Higher occupancy can be taken Center Co at All Times and Common Spaces Everything is common, like the cafeteria If there are bathrooms, they are all shared A value comes from that, economics becomes goes for the renter also yes your design First of all it is very good I will tell you that I'll give you credit if you give me half the price if I am doing this then it means you are doing it A little bit at the price of our segment They are bringing the product and giving it for less than that So it is a very good thing, a lot of experience It was good, I found out once that what is actually going to happen without me going Tell me one thing, fundamentally in India this Businesses are running but not globally Let's see what happened, the biggest company has just shut down it's done I guess business sense is very high in India It is too much the way those people are running there is this thing and maybe outside scenario in which the per square feet rental etc. will be No, I wouldn't like to say this to my No idea of true international macro Market is bad Commercial sales are declining in India The market is growing fundamentally This is the difference, I am a little different here I will make WeWork become such a brand which has not been successful internationally But there are so many brands that Yours and others' work is going on successfully Is there any difference in the business model or is it similar? There are two differences, one is on the demand side The point is that we are only using micro Let's focus on businesses, this is the second point Our product to price ratio is very good only we can say with more confidence that Our product to price ratio market I am the best in the supply site on the majority of The co working spaces are either rented or we furnish it ourselves A model has been designed so that the landlord Motivation happens completely in our space to put the investment and then that We get space without any fixed rental In leasing, we give him flexible pay Payment will be made according to occupancy And Profits What Do You Mean Flexible Payment to a Landlord is Flexible That means we work on a profit sharing model. 80 are operating with landlords Our properties are pure profit The sharing model is Rs 10 with the minimum Guarantee and 10 per on fixed d we will take It's 100% in some time, month after month To the Landlord on the Basis of Occupancy If a revenue is generated according to this then the revenue minus one of its operating expenses Profit comes out which we can calculate at 70 goes to the landlord and 30 comes to us After Operating Expenses After Operating expenses are within your control How does the landlord know how much you spend? Someone please explain the economics of a landlord c that suppose I have a property worth Rs. 25000 of square feet then why am I into you Should I invest vs make it myself I will take the office rent and you will study economics I want to tell you from the beginning that this orchid How much did the center you built cost? I think what will be my payback Your Profit as a Landlord Landlord, whatever expenses we incur, we pay 0000 per seat basis which is provided by the landlord we do nothing for it For example, if the centre of Hajj seater is launched If I am doing this then it will cost ₹ crores to get it payback If we talk about the period, premium location They get their money back in 15 months All their money is around premium locations Comes back in 24 months and the economy Location wise their money in around 30 months ₹ 6 crore invested, comes back Yours was made in two years but the cap was just It doesn't happen to you even once, after how many years I have to do it again very good question Anupam if landlord partner with us does a fixed office vs a If he pays the rent to the client then What are the benefits so the benefits are that If he gives an office to a client then no After the yearly lock-in is over, the client There is no motivation left for three or four years after living in that property because the whole The real estate market will want to pull that in at that time no no no but if The client has done capex which is mostly If the clients do it then they leave it alone I don't go because that money is wasted Anupam it is a very old thing that Earlier, property could rise in Basel today If the property is leased to a landlord So he has to fix it to suit him Investing money on renovation or furnishing you have to get it you have landlords who Atlee is paying more and owning more properties Our 90's of the Landlords till date we All in all here is another real estate asset Have you given it to us or in your current center he increased the capacity on the supply side you have sorted it out nicely i am asking There was demand, we generate demand from there We have two seats off at 25 per seat. Assisting customers take our 35 There is dependency on broker channel partners And the remaining amount is 40 and it comes to 20 From a organic traffic comes 10 from workin and 5 per comes from paid Marketing and then 5 per is others Let's get down to business now, tell me the numbers for 2016 Our journey started in 2016 We had generated revenue of 90 lakhs when you Revenue is called Gross Rental Value (GTV) They are saying that it is okay to give 3 crores for Rs 171. Well, 8 crores in 181 and 13 crores in 1920. And there was a huge revenue drop during Covid We were back at Rs 6 crore in 2122. 21 crores out of 222 crores 30 crores in 23 24 and this one We will close 50 crores this year and whatever sign We are sitting here having properties like this Revenue will go up to 80 crores, good but let's Clarify Your Revenue 50 Crore No, if we exclude operating expenses from our portfolio Let's take it out, it will cost 10-15 rupees. It won't be much, right? By 30, it would have been 30. If you have it then first take out your 35 crores okay your share is 30 ok so 11.5 crore approximants The money was spent, but it was our expense because I understand yours for 11.5 crores The margin will be very high, about a crore profit It would be nice if your son is here on his year Last to last year we did a bit on 6 Last year we did this bitta on 5 This year we will be earning 95 rupees per month on an average 10% this year by doing a business of 50 crores If you take the remaining % of crores at home then it will be Okay, 5.5 to 5 crores will be saved, that's right On that basis you estimated the value to be Rs 13 crore. What is your year on your growth, not that much ng 70 to 80 But what is the bottle neck in growth? Nothing, now we are in the market for this one Grow very fast by racing rounds Meaning in the market right now for already investors Talks are going on with HI from whom we are taking it We are currently raising a total round of Rs 8 crore are for scaling your challenge more The demand side is that the supply can you tell me more about that so today we Right now tomorrow in Delhi NCR we I want to go to Hyderabad again How comfortable are landlords in the market there is no we don't know so we want to Test one city outside lee NCR and then Look at that brother, now we are testing two cities If you have done it, how much can you grow now? Do you think that working age is a The concept is more popular in some cities is compared to other cities and smaller cities If we talk about tier two, it's catching up So demand is coming and supply is also coming But if I want to go there and get five Lokesh 10 locations to plan then I probably I will not be able to scale up that much so Hyderabad Pune is like its 1.5 market where supply is also there and demand is it the right way there so we can be there and You have earned sub tier 1.5 on Create a Monopoly If the markets are capped let's say after two years so do you think after two years Its next level cities will be ready For co-working as a concept definitely You will be ready because every business is 100% 9999 businesses are the same as a lawyer can do Runs with two associates or one This is a marketing agency that is running All micro businesses are still agist Today he is in some adjustment office If you are working then do it with time or market Already assists with just about any setup like you guys your chemistry is also good You have been working together for so many years generally It is the founders' companies that fail, not the founders. You don't think the fall out will happen to you Tell me one thing that your segment Are you targeting me? It is micro Businesses are the biggest risk out there atr what is your atr right now so choose Rate % Average & Time Period 14 Months month is the same short term or generally Enterprises pay to the working end Management is the last five years and so on And so fath then it becomes a little risky from that perspective second point of your You will have Rs 5 crore saved this year if you keep following this pace You will keep growing in a few years make 40-50 crore of profit Should I underwrite it for Rs 133 crore? I can do it today with that kind of risk hanging out there probably not even i love you guy then it's probably the reason i'm out but good luck man you guys are solid found thank you so much you know to be very honest where i told you that you No supply side is a challenge and you told that certain cities are maxed out then You are going to 1.5 cities but after that The subsequent growth trajectory that will come in the I have some doubts about smaller cities So Fabulous Founders Love the Thinking carrer order book what more 10 b i am not able To Get the Confidence About the Tear to Tear The cities in terms of Renaissance of the Indian Consumer so because of that I am out today but i hope you make it happen thank you so much Yogesh Sarthak you guys have left NSIT You've built an incredible business So many congratulations to both of us, Covid Very difficult for the industry I always say that those who survived Covid I will deposit my money now and earn it in next 10 days You guys are doing a very good thing Look, this is a bit difficult for me. We know that we innovate on our own Our segment is different though, we are from those 30 If you are in the 150 segment then sometimes you can wish We will properly understand the segment from zero to 30. We don't know much beyond that If you have the strength, come with us If you want to join then you should know that I am there for that I would definitely be interested because I I am conflicted that's why I will be out Many best, you have created a very good business, thank you you are thank you come on or i will give you an offer yes i can't come at the valuation which is a Financial investors are coming because I really don't think you need money You will also find financial investors I am also giving you an offer because It's been 8 years since I've seen you, friend. It means something or the other is in destiny I will have to believe that you will come in front of me sit Yes, we are going, our current office is nearby. is your 10 Official will also be easy I think there is only one sense for me to come here that you Talked about institutionalizing the business maybe i can help you with how to take this Go to the one city you have focused on right now. no that is I don't understand this valuation on Fanom right now I am not getting Rs 50 crore Understanding the valuation of your business Because EBITDA of Rs 5 crore is 10 times I cannot justify more than EBITDA right now I am getting my offer for you 1 crore Equity at 2 [music] thanks a lot for this offer i am very happy It's nice to see that you guys are not sustainable Want to build a profitable business that is a Core T was very good second industry change It is happening and this is a real need, it tells the risk I am at risk in this, if I feel like it then The landlord has to manage this and Landlord management is very tough Kam second control c control also business It could become as if Ritesh heard it and kept quiet. Never has any pitch been so silent today I was sitting and listening, what were you doing since I'm in business I thought It would be better if he tells you something, okay he should listen She is doing everything now, you can see it completely now How is this business going to come I feel valuation is a concern I really don't know why you need a shark's eye You guys can feel and build it personally Very smart Empain Unfork End Yogesh takes two minutes Piyush is it unfair to the current Investors know about Rs 133 crore valuation 50 crores was made on the tank so many businesses I told all of us to take some Marginally lower than the prior valuation so you mean % did the shark tank get late is no fairness yaar I am saying you have to understand you also give it time no not that much Friend, not so much, only The Investor on 133 Ditmus Not Some Other [music] Investor thanks a lot Piyush for your offer We have a counter offer of Rs 1 crore for this on for 1 but we would like these ones Structure the round in such a way that Everything comes at the same valuation and you get covered up to do that would be b1 but it's not adding up there's a huge gap come on i can close at kar a half but its my final offer yes no close it at 1.25 hey friend I that's not why I you I understand but this is what it is just decide sorry piyush than this deal I will not be able to accept thank you for the offer thanks let for coming in good design and This is not disrespectful to you at all basically no no yaar i want you to sing Grow so much, you should keep seeing me all Teff's boards were visible everywhere, thank you thank you thank you thank you you welcome to the shark my name is ashish Solanki and we have such sharks with us today Who calls investment as investment and invests here Surprises everyone with Hindi Meet Ritesh Agarwal Sir Ashish Thank you very much for the question we asked today I have asked, he is from Lalpur, Rajasthan 24 year old Mayank Sharma asked the question that Ritesh Sir I am from a very small town and I live with my parents so What kind of business can I start? I could drive you from my house and give me my See that parents don't have to be left alone First of all you come from Rajasthan Our mother is also from Jhunjhunu who is a Shikha It is in Vati, it comes from there, well then these Whenever I went to the children in the areas Do I ever get a chance to be a Jhunjhunu Chu Guru I always see that among the children there is an elder Sense Of We are entrepreneurs that we can start some new business Let us look at my calculations today I have three suggestions for you. The first one is His OG is sitting with me Ashish There is a lot of money in creating content One also gets a chance to learn and this is a zenan value proposition is yes so like I tell you let me tell you that I always think that some If my regional content comes then watch it I find you very interesting today Do you know how much is there in regional content? If you are interested, maybe you can do that absolutely if you think that no it's not I want to do some business, I mean proper Meaning we are not able to fix the content So drop shipping is a business which is very is actively running and you are not a part of it Search for specific category and the last one which is mine The most favourite is that there is such a village in the country There is no city where people don't want hotels New Oyo Hotel in your city to stay Build and make your business very successful All your opportunities will keep on increasing, wow One of theirs is mine, if two are not given then we have two We got together in a very detailed and Very good advice, very appreciated Let's meet him next Ask the Doubt in with a new guest and a new question [music]