In a thrilling episode of Shark Tank India, the founders of Healthy Master - Dipti Singhal, Shivali Garg, and Tarun Agarwal, presented their pitch to the sharks. With their eyes set on securing a deal, the trio requested an investment of ₹50 lakhs for 2% equity in their company.
Healthy Master, the biggest healthy munching brand in India, offers a range of snacks made from natural ingredients like Nuts, Seeds, Berries, soy flour, Oats, and Millets. With over 250 categories of products, the company caters to the taste buds of everyone in the family. From less spicy to spicier, healthy to oily, they have it all covered.
The company's snack items are made with only 2-3% oil, making them almost oil-free. In fact, their Bhakarwadi, a popular snack item, is made with atta and contains 0% oil. They also offer three types of bars - chocobar, protein bar, and energy bar, which are sugar-free and contain no substitute for sugar.
With their own app and website, Healthy Master has made healthy snacking convenient and accessible to all. During the episode, Vineeta, one of the sharks, made an offer of ₹50 lakhs for 7.1% equity, to which the founders countered with an offer of ₹50 lakhs for 6% equity. After a few rounds of counteroffers, the final deal was struck with Vineeta for ₹50 lakhs in exchange for 6.5% equity in the company.
The founders' journey from neighbors in Bangalore to successful entrepreneurs was inspiring. Dipti and Shivali had known each other since 2008, and in 2019, they started Healthy Master with Tarun as their CEO. Tarun, who holds an MBA from Udaipur and has worked at Cipla Pharmacy for ten years, brought his expertise to the table and helped the company grow.
Their sales figures and projections are as follows:
|2022-23 (Projected Sales Figure)||8.25 crores|
Health Master's Sales channel and percentage of sales from each channel are as follows:
|Sales channel||Percentage of Sales|
Health Master's Gross Margin as per various sales channel is as follows:
|Sales Channel||Gross Margin|
|Blended Gross Margin||45%|
Health Master's CAC and average order value:
|Customer Acquisition Cost (CAC)||Rs. 515|
|Average order value||Rs. 1250|
Overall, the Shark Tank India episode featuring Healthy Master was a thrilling ride, showcasing the passion and hard work of the founders and the expertise of the sharks. The company's success story was a testament to the power of determination and innovation, and their commitment to providing healthy snacking options was an inspiration to viewers. With the support of Vineeta and the sharks, Healthy Master is set to make waves in the healthy snack industry and change the snacking game in India.
Here are some key learnings that businesses can take away from the Healthy Master pitch on Shark Tank India:
- Identify a gap in the market: Healthy Master founders saw a gap in the market for healthy snacking options and decided to fill it. By identifying this need, they were able to create a successful business.
- Focus on innovation and quality: Healthy Master's products are made from natural ingredients and are almost oil-free, making them stand out in a crowded market. The company's commitment to innovation and quality has helped them build a loyal customer base.
- Use technology to your advantage: Healthy Master's app and website have made healthy snacking convenient and accessible to customers. By leveraging technology, the company has been able to reach a wider audience and grow its sales.
- Have a solid financial plan: Healthy Master had impressive sales figures and projections, which helped them secure a deal with one of the sharks. By having a solid financial plan and being able to communicate it effectively, businesses can instill confidence in potential investors and partners.