The Cinnamon Kitchen, founded by the confident and humorous entrepreneur Priyasha Saluja, appeared in Season 3 Episode 2 of Shark Tank India.
She was looking for ₹60 Lakhs for 2% equity, ultimately securing a deal with Shark Aman Gupta for ₹60 Lakhs for 5% equity. The company specializes in plant-based, gluten-free, and dairy-free healthy snacks, along with made-to-order fresh cakes. Focused on more than 40 products, their star item is the Fudge made with vegan dark chocolate dates, available both online and in retail, including Amazon.
|The Cinnamon kitchen
|₹60 lakhs for 2% equity
|₹60 lakhs for 5% equity
All About the Pitch
Priyasha Saluja is the Founder of The Cinnamon Kitchen in Noida, Uttar Pradesh. She studied at Delhi University and worked in the Marketing department for Dentsu Aegis Network before starting her brand. Priyasha began with an investment of Rs 50,000 in September 2019. In the first year, her sales were Rs 1,40,000, and they steadily grew to Rs 6 crore this year. For the fiscal years 2023 and 2024, the sales were Rs 1.3 crore.
Feedback from shark Vineeta and Anupam included concerns about packaging and labelling. Priyasha explained that the brand’s focus is more on good quality to boost customer repeat percentage. When Shark Namita Thapar asked about scaling, Priyasha mentioned her focus on expanding platforms like Blinkit to other cities like Bangalore and Mumbai, along with deals signed with airports.
Aman offered Rs 10 lakhs for a 2% share in the company and an additional Rs 50 lakhs as debt with 12% interest over two years. Upon hearing the offer, she asked if Aman could consider an equity-only arrangement. Aman revised his offer to Rs 60 lakhs for a 5% equity stake, and they agreed on this final deal.
Takeaways From the Pitch
Here are the learnings from Priyasha Saluja's pitch on 'Shark Tank India' for "The Cinnamon Kitchen
1. Clarity in Presentation: Priyasha effectively communicated her business model, emphasizing the focus on plant-based, organic, and gluten-free treats.
2. Product Sampling: Priyasha wisely offered product samples during the pitch, allowing the investors to experience the quality firsthand. This can be a powerful strategy to showcase the value of your product or service.
3. Addressing Concerns: When faced with feedback about packaging and labelling, Priyasha acknowledged the issues and explained the primary focus on packaged goods. As an entrepreneur, being receptive to feedback and having solutions ready demonstrates adaptability and a proactive approach.
4. Business Scalability: Priyasha discussed plans for scaling the business through distribution, extending product shelf life, and expanding into different cities. Showing a clear path for business growth is crucial when seeking investment.
5. Online Presence: She mentioned the availability of products online and on popular platforms like Amazon and Blinkit. Establishing a strong online presence is essential for modern businesses,
6. Dealing with Investor Queries: Priyasha handled questions about scaling and distribution effectively. As an entrepreneur, being prepared to answer questions about your business strategy and plans is key when seeking investment.