Adil Qadri perfumes: Shark Tank India Season 3

Introduction

Adil Qadri perfumes was founded by Adil Qadri who pioneered the creation of a branded attar in the online market. From a software repairer to an SEO expert, he has come a long way. Adil didn't finish school, leaving in the 5th standard. Instead, he taught himself SEO and digital marketing. He started making money through activities like blogging, dropshipping, and affiliate marketing. However, he realized he needed to create something significant on his own. The inspiration came from his father's Attar shop. Also, you can enroll in the perfume formulation course at Alippo.

All About the Pitch

Adilqadri Perfumes sells attar perfumes online, inspired by traditional attar. The founder wanted ₹1 crore for a 2% share in the business. Though the sharks were interested initially, they were worried about how big the market is. The founder expects to make ₹80-90 crores by 2024.

As the conversation progressed, they figured out a problem which was that the company was spending a lot on marketing and also had borrowed a loan. Anupam, Amit, and Aman didn't want to invest because of this. However, shark Vineeta Singh was still interested and offered ₹1 crore for a 1% share but with a condition: the company has to spend less on ads to clear the debt. She also gets a 1% share of the money the company makes until her ₹1 crore is paid back.

In the end, the deal was closed with Vineeta Singh who invested ₹1 Crore into Adil Qadri Perfumes in exchange for a 1% ownership stake. Additionally, she'll receive a 1% share of the company's earnings until her ₹1 Crore investment is recovered.

Takeaways from the Pitch

From Adil Qadri's pitch in Shark Tank India, we can glean several essential entrepreneurial skills:

1. Adaptability: Adil's journey from a software repairer to an SEO expert showcases adaptability and a willingness to learn new skills, a crucial trait for entrepreneurs facing diverse challenges.

2. Digital Marketing and SEO: Adil taught himself SEO and digital marketing, demonstrating the importance of online presence and marketing strategies in today's business landscape.

3. Entrepreneurial Spirit: Adil's experience in various online activities like blogging, dropshipping, and affiliate marketing reflects a strong entrepreneurial spirit and a willingness to explore different avenues for success.

4. Vision and Inspiration: The inspiration for his perfume business stemmed from his father's Attar shop, indicating the importance of having a clear vision and drawing inspiration from personal experiences.

5. Negotiation Skills: Adil engaged in negotiations with the sharks, presenting and adapting his proposal based on their concerns and conditions. Negotiation skills are crucial in securing favourable deals.

6. Financial Management: The disclosure of the company's financial challenges, including high marketing expenses and borrowed loans, underscores the importance of sound financial management in running a successful business.

7. Valuation Understanding: Adil's initial request for ₹1 crore for a 2% equity stake reflects his understanding of the company's value and his negotiation skills during the investment discussion.

8. Resilience: Despite facing concerns from some sharks, Adil persisted in his pitch, demonstrating resilience, a key quality for entrepreneurs facing rejection or scepticism.

9. Pitching and Communication: Adil effectively communicated his business idea, background, and financial situation concisely and compellingly, highlighting the importance of strong pitching and communication skills.

10. Decision Making: Adil's decision to accept Vineeta Singh's offer, considering the conditions imposed, showcases the ability to make strategic decisions in the best interest of the business.

These skills collectively contribute to a well-rounded entrepreneur capable of navigating challenges, seizing opportunities, and building a successful venture.