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Making Big Business - 31st January 2023 Episode 22 S2

The ideas came in the episodes were from bee-keeping to house-keeping and for the hair care to skin care products. The sharks were impressed by the pitches delivered by the entrepreneurs.

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By TheFrames Team
New Update
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Shark Tank India Season 2

Shark Tank India, a popular reality TV show, has become a platform for entrepreneurs to showcase their innovative business ideas and secure investments from seasoned investors, known as "sharks." In this article, we will explore three remarkable success stories from recent episodes of Shark Tank India. From tech-enabled household services to personalized hair and skincare products, these entrepreneurs have made big strides in their respective industries. Join us as we delve into the exciting world of making big business in India!

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BROOMEES: Revolutionizing Household Services

The Idea
Niharika, Vaibhav, and Saurav from New Delhi introduced "BROOMEES," a tech-enabled app/website that connects individuals with skilled workers for household activities such as babysitting, cooking, and cleaning. Their aim was to bridge the gap between customers seeking reliable help and workers looking for more job opportunities.

The Pitch
During their appearance on Shark Tank India, the founders of BROOMEES impressed the sharks with their vision and the positive impact their app had on workers' lives. Tripati, one of the workers employed through BROOMEES, joined them on stage and shared her experience. She highlighted the benefits she received, including a higher salary and access to additional perks such as health insurance and interest-free loans.

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The Investment
The sharks were intrigued by the potential of BROOMEES and engaged in a bidding war to secure a stake in the company. Namita Thapar and Aman Gupta made the initial combined offer of Rs. 80 Lakhs at 3% equity. Anupam Mittal also offered Rs. 80 Lakhs for 2% equity. Eventually, Namita, Aman, and Peyush Bansal agreed on a joint offer of Rs. 1 crore for 3% equity, sealing the deal.

RAVEL: Personalized Hair and Skincare Products

Customized Hair Care
Ravel, founded by Ayush Verma from Amravati, is a company that specializes in personalized hair care products. Customers fill out a detailed questionnaire about their hair's condition, and Ravel's team prepares customized products using suitable ingredients. The products are entirely free of sulfates and parabens, ensuring a healthy hair care routine.

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The Skin Care Expansion
Building on their success in the hair care industry, Ravel aimed to expand into the skincare market. With their expertise in customization, they planned to provide tailored skincare solutions to address individual needs.

The Shark Tank Experience
When Ayush presented Ravel on Shark Tank India, the sharks had mixed reactions. Peyush Bansal expressed concerns about the product's lack of differentiation and brand packaging, leading him to opt out of the deal. Namita Thapar also decided against investing due to a conflict of interest. However, Anupam Mittal saw the potential and made an offer of Rs. 75 Lakhs at 10% equity. After a brief negotiation, the deal was finalized at 3.5% equity.

HONEY VEDA: Sustainable Beekeeping

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Hardik and Kashyap, entrepreneurs from Gujarat, introduced the concept of beekeeping on Shark Tank India. They emphasized the crucial role bees play in pollination, which contributes to over 70% of the harvest. Their goal was to promote sustainable honey production while ensuring the safety and well-being of bees.

Beekeeping and Honey Delivery
HONEY VEDA engaged in honey production, sales, and bee migration for pollination purposes. They also provided training to over 200 farmers on beekeeping and its benefits. The founders highlighted their commitment to a no-killing policy towards bees, showcasing their dedication to ethical and sustainable practices.

The Investment Decision

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While the sharks appreciated the founders' passion for bees and honey, some opted out of the deal due to various reasons. Peyush Bansal, Aman Gupta, and Namita Thapar decided not to proceed with the investment. Vineeta Singh and Anupam Mittal, however, saw the potential in HONEY VEDA's business model. They made an offer of Rs. 50 Lakhs at 20% equity, which the founders initially countered. Eventually, the deal was closed at 20% equity, aligning with the original offer.

Conclusion

These success stories from Shark Tank India demonstrate the power of innovative ideas and entrepreneurial spirit in making big business. BROOMEES revolutionized the household services industry, connecting customers with reliable workers. RAVEL personalized hair and skincare products, focusing on customization and natural ingredients. HONEY VEDA promoted sustainable beekeeping practices and ethical honey production. These entrepreneurs not only secured investments but also gained recognition for their dedication to making a positive impact. As Shark Tank India continues to inspire budding entrepreneurs, we eagerly await the next wave of success stories in the Indian business landscape.

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