Bartisans, a brand dedicated to enhancing family and friend gatherings with quality cocktails, has introduced a line of 100% natural ready-to-pour cocktail mixers. The mother-son duo behind Bartisans brings a unique touch to Shark Tank, promising bar-quality taste in just 2 minutes with their range of 13 diverse cocktail mixer flavours. Also, you can enroll in the mocktail course at Alippo.
Jovita, with a Diploma in Hotel Management and Food Administration, draws on her previous experience as the owner of Shady Ideas. Embracing a philosophy of learning from every experience, she has joined forces with her son, Jordan, a graduate of Don Bosco College Of Hospitality, Kurla.
|Jordan Mascarenhas and Jovita Mascarenhas
|₹ 1 crore for 2.5% equity
All About the Pitch
Shark Tank Pitch and Offer: Airing on 26 January 2024, the Bartisans episode saw Jovita and Jordan seeking a Rs 1 Crore investment for a 2.5% equity stake. Although the Sharks appreciated the product, the lack of market clarity led them to opt-out. However, Vineeta Singh extended an offer of Rs 48 lakh for 3% equity and an additional Rs 52 lakh in debt at an 8% interest rate. Unfortunately, the founders couldn't accept the deal due to the debt component.
The Bartisans' journey on Shark Tank highlights their commitment to natural, low-calorie cocktail mixers and the challenges they faced in securing investment.
Takeaways from the Pitch
From Jovita and Jordan's pitch on Shark Tank India, several entrepreneurial skills and lessons can be discerned:
1. Family Collaboration: The mother-son duo, Jovita and Jordan, demonstrated the effectiveness of family collaboration in entrepreneurship, emphasizing shared values and a common vision for Bartisans.
2. Product Innovation: The founders showcased their ability to innovate by introducing a range of 100% natural ready-to-pour cocktail mixers with diverse flavours. This underscores their creativity and market understanding.
3. Educational Background: Jovita's diploma in Hotel Management and Food Administration and Jordan's Bachelor of Science in Hospitality Administration highlight the relevance of their educational backgrounds to the food and beverage industry, contributing to their business acumen.
4. Internship Experience: Jordan's internship experiences at renowned establishments like The Bombay Canteen, Grosvenor House Dubai, and Le Royal Meridien Beach Resort & Spa indicate practical exposure and industry knowledge, which can be valuable in business operations.
5. Risk-Taking and Confidence: Seeking Rs 1 Crore for a 2.5% equity stake is a bold move, showcasing the founders' confidence in the value of their product and their willingness to take risks for the growth of Bartisans.
6. Market Clarity: Despite facing challenges with market clarity during their pitch, the founders had a clear understanding of their product and its uniqueness. This skill is essential for navigating the competitive landscape and making informed business decisions.
7. Negotiation Skills: While facing scepticism from the Sharks, the founders engaged in negotiations. Although they couldn't accept Vineeta Singh's offer due to the debt component, their ability to negotiate and make decisions under pressure is a valuable entrepreneurial skill.
8. Resilience in Rejection: Despite not securing a deal from the Sharks, Jovita and Jordan exhibited resilience and maintained composure, highlighting the importance of handling rejection gracefully in the entrepreneurial journey.
Observing Jovita and Jordan's pitch provides aspiring entrepreneurs with insights into family collaboration, innovation, educational relevance, industry exposure, risk-taking, market understanding, negotiation, and resilience as crucial skills for entrepreneurial success.