[music playing]
[theme music playing]
[theme music concludes]
Hi, Sharks.
My college significantly supports me in my entrepreneurship journey
which is why I am able to strike a balance
between business and education.
Sharks, my generation wants everything in life
just like the reels on Instagram,
quick and something new every day.
Our moods also keep changing like social media trends.
Suppose I have brown highlights today
and want pink highlights next at any cost.
We won't wait six months for it.
[uptempo music playing]
#pinkhairdontcare.
If you want to look cute someday
and lack the will and strength to get bangs at the parlour,
you can opt for our cute bangs!
[uptempo music playing]
#socute.
If you want a perfect messy bun look,
here's our Messy Bun Scrunchie.
[uptempo song playing]
#justlookinglikeawow.
[uptempo song concludes]
To give everyone the life we see on Instagram reels,
I started The Shell Hair.
At The Shell Hair,
but also serious hair loss concerns.
and want to make it those chairs just like you
and guide other Shellys out there like me.
So, Sharks.
I won my mother's heart by building this brand.
Do you have faith in me?
Shelly, tell me. There are three categories.
Do you also do non-coloured hair?
- Yes. - Okay.
Our products are made only and only
Double-drawn means that
- the density of hair is equal from the top to bottom. - Yes.
Despite our quality being good,
our prices are lower than that of other brands by 30 to 40%.
- The packaging is wonderful. - Thank you, sir.
- Will you help me wear these? - Sure.
[light-hearted music playing]
Okay.
How is this looking?
- Very nice. - Looks nice.
- You like it? - It complements your dress and the bag. Looks very cool.
Show me the fringe you just tried.
- This is all... - No...
- Twisted. - I know.
That's because it was lying packed inside the box.
I'll bring another one.
- Just a minute. Yes. - This doesn't look good. It's twisted.
- We can spread the bangs, right? - Yes.
- These are medium density bangs. - Yes.
- Do you like it, guys? - Shark approved.
Shark approved!
Shelly, you were 20 years old
- when you started this, correct? - Hmm.
- Didn't you feel that people were already doing this? - Hmm.
What made you think you could do something different here?
I was very interested.
All the time, I would imagine myself
making extensions, building a team
- and making related products. - Correct.
What was the first thing you did?
Did you ask your mom to cut your hair?
When this occurred to me,
I looked up online if anyone would give me raw hair.
I found a vendor in Jaipur
and ordered hair worth Rs. 2,000 from him.
The hair arrived after two days.
I was excited and ran in the house with it.
My family wondered what I was doing with hair.
So, I began making it on my own on my sewing machine.
I made a hair extension and around two streaks.
After they were ready, I sold them to my relatives
to see the response.
They really liked it
because that was the first time they had seen such things.
Then I made a website which failed,
but nevertheless, I received orders on it.
And now, I have a new website.
Let us see your website.
- Okay, this is your site. - Very nice.
- Is that you in the photos? - Yes.
- This is you, right? - Yes.
- That's well-thought. - Yes, they're all me.
- The website is nice. - Thank you.
To be honest, this is a free website.
My friend designed it for me.
That's how it is.
You're highly resourceful.
Let me give you an example of the Messy Bun Scrunchie.
- I found it better. - You must have.
Let me be objective.
I found Nish Hair's designs to be better
Yours is bulkier
if I were to give genuine feedback about your product.
- Every product is priced differently. - Hmm.
- Yes. - How?
Firstly, I'm handling the complete marketing by myself.
No employees?
I do have employees.
I have an intern and six manufacturers.
You're saying you'll build a team and do better marketing. What else?
We'll increase our production capacity.
Our offline sales are negligible at the moment.
For instance, exhibitions or trials at salons
where a huge investment is not required.
Sir, our net profit is 35%.
Do you know your marketing is your weakness?
- Your brand building isn't great. - Yes.
Your logo isn't all that great either.
How can a commodity become a brand
is by better marketing, right?
You need a marketing person in your team.
If you're ready to do that, I could make you an offer.
Yes, sir. I am absolutely ready.
Actually, Aman, before you give the offer.
I agree marketing is her weakness,
but her biggest weakness is her product.
When you helped me wear the bangs, it was all twisted.
- It didn't fall as it was supposed to. - Hmm.
The gap was too wide.
They were not straight.
Then you had to go back and get another one.
If the customer were to get one of those bangs,
they wouldn't use a straightener to fix them.
I agree.
Also, Namita, sometimes, it's just one's perception because...
It's not perception. It's...
- Nish Hair was different... - Two people.
Amit and me giving the same feedback.
He has a conflict of interest.
- She... - I have no conflict of interest.
Just to be clear, I would invest in her.
- I invest in entrepreneurs. - Let me tell you.
- Amit will obviously say Nish Hair is better. - Nothing of the sort.
He's giving honest feedback to a founder.
I'm very confident about my products.
Shelly, you're 24 years old.
In three years, as a student,
you built a business of Rs. 10 lakhs.
There are bound to be shortcomings.
In my opinion, your resourcefulness is great.
The road ahead is different.
An elaborate marketing plan...
You need to improve your social media game
so that your customer acquisition costs
- do not grow along with business. - Hmm.
If that happens,
- making margins will be tough. - Hmm.
I think keeping competitive pricing is a brilliant strategy.
Once you get scale and become a premium brand,
then the pricing can be revised.
Keep the expenses low.
- Value the customer. - Yes.
And not focus on profits at the start.
I like your thinking.
- So, I... - Your vendor strategy is good.
So, I will make you an offer.
- Have you ever raised funds? - Never.
you've reached a revenue of Rs. 1 crore
all on your own merit and that's fantastic.
I think right now your sole differentiator
is lower price.
You can't compete only on the basis of price.
So, I urge you to work on the product,
the quality and design.
For today, I'm out, but wish you the very best.
Thank you.
I believe for the kind of growth you want,
your current ask
is a little too low
in comparison to your strategy.
I will offer you Rs. 60 lakhs.
It's great to see you made a profitable business.
I'm very proud of you frankly.
I found the product quality to be really inferior, to be frank.
I was hoping if you acknowledged
that this could do with some work
and innovate it and fix it
rather than the resistance, I'd have surely made an offer.
You seem like an amazing founder.
The market is big.
In my view, you'll do well and Nish Hair will too.
Making a good product is what your USP should be.
So, I am out today.
- Thank you. - All the best.
Shelly, you know what I think?
Sometimes, more money can mess things up.
Right? And we've seen that.
We've seen that in the start-up economy.
I believe you're at a stage
where you should take only some capital
but take a step forward.
That's the way you came across to me, right?
You don't want to suddenly start burning money
and then have to figure out what you want to do next.
So, I think I'll change my offer.
[music playing]
I'll have to give you a higher valuation,
but there's something about you.
So, I'm willing to take that risk.
I tried hard, but didn't get that deal.
- Then... - I know, yes.
- I know! - Have mercy!
Nish Hair came In the second season!
I got stuck with them at the valuation again.
Unfortunately,
I want one hair company.
- Yes. - [Namita chuckles]
And that's you.
Lucky! There are three people fighting for you.
So, Shelly called out to me and here I am.
Rs. 30 lakhs for 3% equity.
Okay.
What do you want?
[tense music playing]
Don't think too much, Shelly. Take the deal.
I don't have such a company. Imagine the time I'd invest.
The hair goes to Mr. Aman Gupta.
and let's build a good brand.
- Thank you. - I think you need good support with the branding.
[camera shutter clicking]
- Thank you. - I'm a big fan, sir.
I'm also a big fan from today.
- Thank you. - Many best wishes.
- Join the club. - Bye, Shelly.
Thank you for your offers. Thank you.
Buh-bye.
[joyous music playing]
[music fades]
[theme music playing]
[theme music fading]
I always had the desire to make a mark in the food industry.
So, I joined the Indian School of Hospitality
I am currently studying at Amity University, Noida,
We're both highly ambitious.
We have the zeal to do something in life.
- Nice! - Our friends would go partying on Saturday nights
whereas we'd use the same time to better our health
and gain more knowledge.
We wish to help others to also become better individuals.
So, overall wellness is very important.
Be it your sleep, energy or hormonal health.
We also noticed that a lot of people consume nutritional bars
assuming they are healthy.
We were one of them.
We realised they are really unhealthy.
So, we began working on the formulation of energy bars
right in our own kitchen.
To replace these unhealthy bars, we started Rize Bars.
Sharks, our products are ready.
And our production has started too.
This is what we believe.
We will work hard today and bring results tomorrow.
So, we work in the metro in morning
and we focus on our business in the evening.
And our vision is
to become the king of health and wellness category.
What is this? Milk?
[music playing]
This is white chocolate.
What is this?
- Is it just packaging? - We did it at the last minute.
The packaging is there.
Oh, okay. It's there.
62 calories per unit.
Yes, one bite.
That's a lot.
Since you said that you eat that for health,
I felt the protein content would be high.
[music playing]
We are in the energy bar segment.
- We are not in the protein bar segment. - Protein bar segment
- Understood. - We have the highest in the energy bar segment.
Including caffeine and taurine.
Along with that, the sugars we've used
are natural sugars. Fructooligosaccharides,
- I'm munching on this energy bar. - Yes.
It tastes pretty similar to others I've had before.
It doesn't have any packaging,
if you mention any brand names on it,
I can't tell them apart.
We have added 100 mg of caffeine and taurine.
- Because of taurine. - What is taurine?
Caffeine can cause jitters and crashes.
Caffeine takes you there, and taurine keeps you there.
- Yes! - Yeah!
You mentioned that you just started this business.
Have you started making sales?
- No! - Pre-revenue.
How much is the average price for this?
No! That is a sample. There are 8 Bites in one packet.
That makes it Rs. 50 per piece.
- Yes. - Approximately!
- The pricing seems to be on the higher side. - Yes.
Why are the prices so high?
We want to play the game of position.
Who are you selling, when, and how?
Because there is never a brand too expensive.
It's the way you position yourselves
in that locality where people are going to buy it.
Sahil and Dhruv, I have a question.
Let's go back in time. Both of you started this at 21.
- Yes! - When did you think of starting this?
We live in the same society.
Okay! Cricket friends.
We've known each other for more than 12 years.
When and how did you start?
What was your starting point?
We started our business this year.
Did you conduct a survey or do some research to see
- if there's a similar product available? - We went to the market
and studied it.
- We took feedback. - And you found no similar products.
Caffeine and taurine aren't in anyone's products.
That is our USP. We can claim it.
We checked the ingredients of
every energy bar, like RiteBite and The Whole Truth.
We decided to add missing ingredients from their product
into our product.
If you compare our ingredients with any bar
Initially, we started taking money from our parents.
I doubt you had any other option.
We have also raised funds.
- Have you raised funds already? - Yes.
We raised funds from Daniel Weber and Sunny Leone.
Sunny will also be our brand ambassador.
Please elaborate on the ownership structure between
Three times the valuation.
Just within less than a month. Why?
We have good mentors.
Sunny is our brand ambassador.
So, the value of our brand and our skills...
Sahil and Dhruv, there has to be a logic behind it.
The sales increase.
A new distribution channel has been established.
There has to be something that can justify a three-times valuation.
- Do you want to do this long term? - Forever!
We have a rule. We want to run this positively.
We don't want to burn.
If the profit is less, we'll run this based on profit alone.
We want to make our brand big.
I have a question regarding your product.
I will give you an example. I work for 15 hours on Shark Tank.
I get so buzzed at night
- that I have to take melatonin sometimes. - Yes.
But my preferred dosage is...
There are strips that dissolve in the mouth
or gummies.
It has fewer calories and it's much easier.
Take a look at this.
This has sugar.
[suspenseful music playing]
This takes time to eat.
It is not very convenient.
So, I want to understand from a product perspective.
Why will Namita switch from melatonin gummies,
melatonin mouth dissolvable strips
to something like this,
- which has calories and sugar - and takes longer to eat?
So, in our melatonin bites...
Our Dream Bites don't just have melatonin.
It has 5 mg of melatonin loaded in it.
It also has valerian root extract,
chamomile extract and glycine.
You can add them in strips or gummies.
My question is not about ingredients.
You can only load a certain amount in a gummy.
And there are other problems
that could come with a gummy, which is indigestion.
It has colour added. If it is sugar-free,
it has starch.
Is your product sugar-free?
And gummies are made from sugar.
It gives you a spike. We've also had gummies.
But chocolate is quickly absorbed into the bloodstream.
Sahil and Dhruv, I am confused.
We are halfway into this, but what is your standout product?
Who is the target audience for your product?
- I can't comprehend anything. - Okay.
Sir, we want to be a health and wellness brand
catering to individuals who frequent the gym.
Our bars offer guilt-free indulgence
for those seeking a healthier alternative,
and savour chocolates and oats.
If anyone is facing sleep issues...
To purchase melatonin from a pharmacy,
a prescription is required.
But we have filled that gap.
Because our product is FSSAI-approved.
Those who need melatonin can have it without a prescription.
it is more effective to develop a standout product
within a specific category
- and capture... - Focus holds great value.
Once you are successful go adjacent.
Did you seek feedback from someone while you were diluting?
Our senior.
It seems a bit rushed to propose
only Rs. 30 lakhs dilution
at a Rs. 2 crores valuation.
There is a lack of experience.
Don't you think you should have taken up a job?
Acquire knowledge about the ways of the world.
I felt a lack of business sense somewhere.
Somebody has to start knowing
how to run a business.
I feel both of you are lacking that.
As founders, we have noticed
that we adapt fast.
So, one thing that we want to do is,
if the mentorship aligns with our speed,
understanding and teaching,
it is something we can grasp in no time.
You have a product.
You are ready. What about distribution? What is your plan?
We met a couple of distributors.
We understood our competitors distribution.
Who is your competitor?
RiteBite, The Whole Truth
- and all... - What's Up Wellness.
What's Up Wellness, yes.
The higher the visibility of a brand, the more it sells.
We will capture Gurugram first.
Then we will cover Delhi NCR.
Gradually, we will cover, Mumbai, Bengaluru and the South.
- Are you talking about offline? - Yes.
Have you come up with an online strategy?
We already have shipping partners who ship PAN India.
- What is available online in PAN India? - All our products.
We have partnered with Delhivery.
They have 20,000 pin codes they deliver to.
Do you know the cost of selling to a customer
on your website when you conduct business online?
Approximately, according to our calculation,
it could be between Rs. 125 to 250.
What do you think?
- On us! - Why?
In four months, we turned our idea into a reality.
Within two months, we secured an investor and a celebrity ambassador.
Now, we are also on Shark Tank.
- We are so fast... - I agree with this.
Guys, I liked both of you.
I think you have the energy and passion.
You will create something.
I am encountering an issue where I have reservations
about your founder-market fit.
You have launched products
in a highly competitive market
without a thorough understanding of the landscape.
You are in this market
talking about taurine and caffeine.
It is superficial knowledge.
If you aspire to establish a successful long-term business,
you need to delve deeper.
Are you willing to do R&D
to create a globally successful product?
I am unable to perceive that clarity.
I love you. You are sweet.
I cannot invest in your business.
- I am going to be out. - Thank you so much.
Witnessing your passion and drive was truly uplifting.
Both the founders... When I was 21,
I didn't know what to do in life.
The thing that really bothers me
is your attention to detail in the planning process.
When I inquired about
your strategy
and distribution,
I noticed a lack of attention to detail.
If there is attention to detail about how
products will be displayed on the counter.
How can I make them more visible?
What sale am I expecting from a counter?
You mentioned setting up an offline store in Gurugram.
Very generic, high-level statement. I prefer an in-depth explanation.
There is a lack of attention to detail.
I am out today.
- All the best. - Thank you.
You should focus more on numbers.
One month ago, your valuation was Rs. 2.5 crores.
And within a month, without any sales and without any evidence,
you increase it threefold.
Investors don't feel good about it.
The purpose of giving feedback
- is so that you learn... - Yes, definitely.
- And make this a phenomenal success. - Absolutely.
- But for today, I am out. - Thank you!
Both of you are resourceful.
I believe your resourcefulness is your strong suit.
Another crucial aspect of entrepreneurship
is resilience.
I think it's important for you to demonstrate resilience.
What usually happens is if one door closes,
you have to knock and break it.
I believe, if you want to get to that point,
you have to show resilience.
Okay!
My suggestion to you is
that you should focus on the first 100 customers.
[tense music playing]
After interacting with these customers,
you will have all the answers to all the questions we asked
- about your business within three months. - Yes.
Someone gave me this suggestion.
- Now, I am passing it on to you. - Thank you.
I am out.
I started my first business when I was around 21, and it shut down.
But it taught me a lot of things.
I think you will learn a lot of things.
This business won't thrive.
You are still not fit
for the market. That's my view.
This business will teach you.
You will become a player in your industry or another industry.
So, as an investor... I cannot invest now.
But I am also in Gurugram.
I can give you some time. Meet me.
Join entrepreneurship workshops.
Gain more knowledge.
Learn from others.
Study their strategies. Understand their actions.
So that you can improve your business skills.
I don't think I can feel that now.
So, I am out!
[theme music playing]
[music intensifies]
[theme music playing]
Sharks, we never give up.
But we often set unrealistic goals in life.
Look at us students, for instance.
Every night we go to sleep, hoping
that we will rise at 6 am to study.
But in reality,
we begin studying two hours prior to our exams
and we answer our exams based on what we studied in those two hours.
Also, before each semester,
we make a commitment to maintain 100% attendance.
But what happens? We have poor attendance.
But Sharks, there are goals that not only students
but also professionals struggle to accomplish.
That is, 'I will regularly go to the gym starting tomorrow.'
It is difficult to achieve
because we have a busy life and a tight schedule.
When we subscribe to the gym,
we are aware that we can
attend for a maximum of 15 to 18 days in a month.
And the rest of the money is wasted.
When we already know that,
why are we paying for a full month's gym subscription?
To save money we've created Mepack.
- [Aman laughing] - So,
we've always dreamt of launching a startup.
We were inspired by the stories of Steve Jobs and Mark Zuckerberg.
We've wanted to start a startup.
And we started Mepack before we completed college.
Your custom gym subscription.
so you have to make payments for those specific days.
This means you can customize your gym plan
to suit your schedule.
Sharks, as of now,
we have a total of 75 gyms listed on our website.
Our primary objective is to establish
Mepack as a successful fitness startup.
Show us your six-pack.
- Show it. - We don't have it.
- Welcome to Shark Tank Season 3. - Thank you, sir.
What made you come up with this?
You don't look like you frequent the gym.
Where did you get the idea to do this?
Sir, during COVID, we had gym membership.
But all the gyms were closed suddenly.
We realised that we had paid for a yearly subscription,
but we went there only for a few months.
So, we decided to venture into the fitness industry.
Everyone's money was wasted. People paid for their membership.
We thought of launching a fitness startup
that would allow individuals to visit the gym at their convenience
and save money.
This is what happens to 85% of people.
They buy a plan and end up only making it to the gym
two or three days per week.
That makes it around 15 to 18 days.
You end up wasting half of the money.
I agree. I have also enrolled in numerous gyms
and paid for memberships, yet I never manage to go.
That is true. There is a need in the market.
We've conducted several surveys, and all of them indicate the same thing.
- Show us your website once. - Yes.
- You said 75 gyms are listed.
Yes.
So, Sharks, this is our website.
It has different areas of Delhi
and has more than 75 gyms listed.
You can simply scroll and take a look at it.
You live in Delhi, Aman Sir.
So, we'll create a Mepack for you.
For example, in Delhi,
whichever area that you live in,
once you click it, you can see our top gyms listed.
We will scroll down and check
how many trainers they have.
If those trainers are qualified.
How many certifications they have or what's their experience.
You will also be able to check their equipments.
the next 30 days' calendar.
So, you can choose your days.
Days that you want to work out.
You have to select a minimum of 10 days.
You will also be able to see that the amount accumulates
- on a per day basis. - How much is it per day?
For 10 days, it's Rs 670.
- So, it's Rs 67 per day. - Rs 67 per day.
But it's not the same gym. We can go to any gym.
Because sometimes
- Yeah. - We plan a Thursday
but it doesn't seem possible so you want to go on Friday.
So can we change the dates?
Or once you book it, it's final?
Our system is that once you choose a day,
you can adjust it plus or minus one.
- So, if it's Thursday... - Within that range.
- Yes. - Yes.
The business model has a problem.
[music playing]
Firstly, the regular gym-goers,
those who are serious about it,
they must take the membership and go to that gym.
But people like me
take memberships but never go.
Nothing of this sort will appeal to people like us.
[music playing]
To add to Aman's point, cult.fit.
- Yes. - Their annual membership is
- Rs 12,000-15,000. - Yes.
But they have launched Cult Flex.
- They have a product called Flex. - Yes.
You can use it in many of their gyms.
Cult.fit is doing it for their gyms.
Generally, there are different types of customers in the fitness market.
Many types.
10 per cent are extremely loyal.
They will surely visit.
Then there are some
who will not be so regular, kind of moody.
Many people genuinely
aspire fitness
and want to go to gym but they can't do it.
Since the schedule is tight.
If they miss two days, the routine is lost.
If they miss two days again, they don't feel like returning.
We want to rectify this.
And that chunk is big.
So, you're on the third set.
- Yes. - No, I don't agree.
I feel that
that segment is small.
Firstly, 5-10 per cent of dedicated users, I think it's more than that.
I've been visiting gyms for a long.
You will find 20-25 per cent who are regular users.
Then there's a segment
whose schedules are not predictable.
For them to choose ten days, Thursday to Thursday.
They take membership so that whenever they find time,
just like Aman, they intend to go.
But either they don't find time or they're lazy.
Or maybe they eat Butter Chicken more. I don't know.
There's some problem.
But they have the flexibility to go whenever they want.
Yes.
But doing this takes away that flexibility.
He's out as a customer.
[music playing]
You're left with bargain hunter,
deal hunter who thinks
that the charge is less
and fixing the schedule
might make them use it
or maybe they'll go because they're bargainers.
In the premium gyms category, people are dedicated.
They continue to come.
But in small and medium size gyms, there are many people
who are not so regular.
We surveyed our college first.
There were more than 200 applicants. We surveyed all of DU.
90 per cent of people said
that the day this is launched, we will come.
Because we want it. This is our problem.
It can't be true.
In India's population,
- middle-class... - So, deal hunters, right?
It's the same segment that I spoke about.
Right.
Deal hunters. My point is that what is the deal here?
We have to choose a minimum of 10 days.
- Yes. In a month. - Right?
So, Rs 700 is spent. You just showed Rs 670.
If I take an annual pack of cult.fit, I get it for Rs 1000.
Monthly.
By paying Rs 300 more,
I have the flexibility to go whenever I want
and also that
I can pause whenever I want.
Right.
How many days do subscribers buy on an average?
Ten is minimum.
- What's the average? - 14-15 days.
Cult.fit gyms are one or two in an area.
No, cult.fit is a premium gym.
- Yes. - So, in quality...
The gyms below that category will charge less, not more.
This price is of a particular gym.
Many gyms charge Rs 30 or Rs 50 per day.
[music playing]
But your product offering is not so financially differentiated.
People jump on this offering is what I meant.
I'll conclude here.
- Aman. - I mean, as a consumer,
- it's not so attractive. I agree. - Yes.
We think your business model has a problem so
- please share some amazing numbers. - Yes.
When you started this, how much money did you invest?
Did you make the website?
So, they made our website at a discounted rate.
Good, but I'm out.
Okay.
You guys are still raw.
And we learn from our mistakes. You're here on Shark Tank too.
You will be a hero in the college too.
[chuckling]
Do you want to do something else...
Find a job since you're in the fourth year.
Don't run this business for long.
And many people have experimented to come to this format
that 70-80 per cent must be dormant memberships
only then the economics make sense.
Or you become an elite gym.
[music playing]
But it's still not a large market in India.
So, you know, I don't think
it makes sense to go again
and try something that people have already tried and lost.
So, I think that's a problem for me, fundamentally.
So, I'm out for this reason.
But the two of you
are very sharp.
- True. - My input would be,
try to look at this dispassionately.
And go away from it. You will waste your time.
Find a new model. There is a lot of opportunity in India.
And guys like you can build something very valuable.
So don't waste your time. Good luck!
[music playing]
Recently, there was a big debate
- about the 70-hour work week. - Yes.
Right? People were being sarcastic that why not 140 hours?
This just makes one thing
- sector... - [mumbling]
It will be a pharma sector business.
your model won't work.
Erratic consumer,
there will be refunds, a lot of mess,
plus one,
minus one... It is just
too much of a headache for very little money.
So, I agree with the feedback that you've received here.
With that insight, I think you can start another business
where there's more potential.
But this, don't think about it long term.
- So, I'm out. - Okay.
One of the players as you mentioned is Cult.
It's an independent gym.
Another player is FITPASS.
They give you a monthly subscription
which helps you access their associated gyms in India
and use them to work out.
This is what FITPASS does.
They provide accessibility.
We're offering affordability
to customize it as per your needs and make it cheaper.
What is FITPASS' monthly subscription rate?
FITPASS is around Rs 1000 monthly.
It's same as cult.fit.
Between Rs 1000-1500.
What will be the use of proceeds for your investment?
What will you do with the investment?
We have divided it into 4 parts. 10, 20, 30, 40.
We're flexible. We want growth.
We want to become a one-stop solution for fitness.
We don't want to stay stuck with custom gym subscription.
[music playing]
If I were in your place, I would create a low-cost software
that helps with the day-to-day management of gyms.
Okay.
At the press of a button, those who didn't come will be reminded.
It will send customized or personalized messages.
Even if I charge a fee, it will work.
There will be no loss.
On top of that, you can now build anything you want.
You can build this because now gyms are using you for a purpose.
You can build e-commerce, sell health supplements
where they can make major money.
People going here, right?
I would build it as a platform.
For gym owners. And then go solve this problem.
If either of you was a coder
I would've invested since the ask is not much.
- Okay. - Because I know it can evolve.
Okay, I'll make a conditional offer.
- Bring in a co-founder. - Okay.
Someone who can code the platform that I'm talking about.
And you will first build this independent gym solution.
Which nobody has built.
Which will automate all these gyms and create a platform for them.
Create a software for that. Okay?
I feel that along with software in your business,
using that software for specific gyms
to add value and exclusivity seems to be a better opportunity.
And I've done it in my business at a large scale.
Right.
So, Amit and I would like to come together.
Together, we will match your offer. Rs 7 lakhs for 10 per cent.
And along with that, we will help you.
[music playing]
Sir, the deal is done.
And thank you so much.
[music playing]
Do you think this can make money?
- I think I am betting - Why not?
on their spirit.
- Spirit of the guys. - And
- if this is made, - Entrepreneurs will...
and they sell it to 100 gyms, the money will be recovered.
[music playing]
Hello and welcome to Ask the Shark. Today, we have
Mr Ritesh Agarwal,
CEO and Founder of OYO Rooms.
Sir, you have many fans.
They have questions to ask.
So, if you don't mind, I won't take much of your time. Let's start?
Please, sure.
The question of the day is
from Mahika Sehgal from Bikaner.