इस Shark Tank कंपनी ने सारे Sharks को बोला NO | Shark Tales

 

Which shark were you most looking to work with? Oh sorry, the current valuation, more than what you guys had quoted uh in the first season of track time, no shark tank's number was completely in inflated figure.

Did you come to the show for surrogate advertisement or were you actually looking to raise funds plane? Hey guys, welcome to a new series called shark tales, wherein we cover the success stories of shark tank india. Today we are in pune to cover the story of moonshine. A company which got an all-shark deal, but they rejected, and today they are one of the first players to make mid in asia. Let's go foreign honey into mead, which is an alcoholic beverage. It's the oldest alcoholic beverage known to mankind, brother. What do you do in this company? I know you and nitin both run the company, so my role in the organization is predominantly marketing and handling production. Okay, so here in the bottle, it's written moonshine started as a kitchen project in 2014 yeah. It literally started in my grandmom's kitchen, okay and uh. We were home brewing a legal reasons. We will say that we were home brewing in america as home, brewing in india is illegal, but in 2014 we started home brewing and that's where the idea really started so nitin. My co-founder, also of childhood friend from 35 years, was flying from one european country to another and he read about meads in lufthansa's in-flight magazine.

He read about london's first meeting the last 500 years. So have you been doing this full time since 2014? So no uh I started doing this full time in 2016 august, because when we submitted application to excise after few months, we realized that the file hadn't moved at all. And we realized that, because we weren't paying for an agent to do this. And we someone had to do it nathan at that point in time was married, had kids had emis. I didn't have liabilities like that I mean, but did you have enough savings to you know survive without a job? The thing is: I moved back in with my parents and so that helped a lot always that always works, and when did you officially? When did you start making money so we started commercial sales in uh, feb, 2018, okay, and that first commercial sales for means in india and we think even asia happened 2018 and that's when the money really started.

Okay, what took you four years to make your first sale so 2014 to 2015 honestly I think 2014. We didn't expect to sell anything at all. Uh we weren't even planning a business. 2015 has been the idea for a business first germinated 2016 we applied for the license. Uh realized that the category to ferment meads ferment honey didn't exist. So we spent a about two two and a half years, just lobbying the government uh working with the excise department to create the subcategory of needs under the wine category, and that took time once that happened. It was a quick breeze and we got our licenses and we managed to if someone wants to start a beverage brand in the country. What's the minimum amount of capital that they need to infuse in the in, like four or five years to make it worthwhile honestly I'd say as much as possible, but uh I think for a new age, consumer brand starting with anything, less than 10 cr is going to be a tough journey, so the 10 cr should actually see uh. Have you heard the value of death? Most startups die within three years, yeah I believe in consumer brands. The value of death is all the way to five to six years, so I believe a consumer brand, especially an alcoba brand, should have enough capital, and that's why the 10 cr should have enough capital to sustain five to seven years. You can raise all the 10 cr up front or you can raise it in branches over time. Okay, but the idea is, you should have an ability to raise capital because it is not just capital intensive to survive in the market to grow uh to do marketing in the market to basically grow the brand brand awareness brand presence that costs money very fascinated by the pros the entire process- how it's made to and to how it reaches the end consumer can you show it to me sure would love to this?

Is our production facility and as you'll see around here, we have about six tanks here and this smell of fermentation I love the smell of fermentation in the morning yeah and uh. This starts off. Quite simply how we do it is we take honey, good quality, honey matters, quality in its quality out. We blend that with water. We add yeast. We add some nutrients, we temperature control all of this uh every day. The fermenting need is checked to make sure quality parameters are met with and after about 10 to 12 days permutation is complete. We filter we carbonate uh any flavor additions and I'm doing flavor addition, because we don't use any artificial, flavors or even nature identical flavors.

We use only the real deal so we're using guava. Actually, we actually do guavas and gujjulake chillies grilled pineapple is actually pineapples grilled. Over coal and all this happening in this, all this happens in this facility wow wow. Looking at your pricing, which is a little on the steeper side and also a business ethos uh, how do you see yourself as a brand? Is it a niche brand or a mercy brand so we're somewhere in the middle, where mass premium we're definitely not trying to appeal to everybody, but we're not definitely trying to appeal to only a fraction of the population. We believe there's a large enough base for us. So, but what is the size of the market? Are you asking about? The dam is yeah. The total addressable market. That's a nothing question: okay, so I I was talking to rohan about the cam and he stayed away said. This is a nitin question. So what do you think is moonshine's total markets total market? We would pitch it as beers market in india, which is about 7 billion right globally. If you look at meats it's about half a billion dollars and hence the size of the market is very small. But if you see the way we make our meats, our meats are all low on alcohol, they're in fine bottles and amber color yeah and meant to be picked up low in alcohol and carbonated.

So you know putting all these together. Most of our audience is coming from the their space, so the size of the market is good uh and it's very big but I'll share. My own experience, like I've, tried moonshine before I have loved it, I've loved it, but never in my life have I bought any of these bottles. Do you know make my friends also taste it yeah and the reason is I think the cost of this bottle in bangalore is around 250 250 rupees. How do we solve for that like if I like it? Ideally, five of my friends should also be introduced to moonshine ride them. It's a problem that we are asses trying to solve for okay and the 250 price point also comes with 118 tax that you're paying to the government on every point. Can you break it down? For me, 100 rupees is additional exercise duty and 18.

Rupees is the regular exercise duty? Okay, that the the additional exercise duty is essentially a taxation structure that both karnataka and maharashtra have levied uh against any wines coming from outside the state to protect their uh wines. During your shark tank appearance, you said that you have a 75 gross margin right. Is it the same right now? Let's come, it has come down because the costs have changed a little bit. Taxation structures have changed, and every year the taxation structure changes a little bit. Our average margin will keep changing, as we add new markets to it. For example, if you added a himachalis himachal is like a goa market, we are bleeding money in himachal. So therefore, that number comes down again, yeah right. So every market you see a net adjustment happening uh, which is fine as long as your net above 60 I, think you're, fine. So till now, whichever companies I've spoken to who went to shark tank, they describe their business as before. Shark tank after shark tank. In your case, how has that been like how what was the event in 2020 I mean? We interviewed in 2018 for shark tank, 2018 2020 in october, sorry, 2020 october. We I think it was telecast 2021 because 2021. From then till now, we've already grown 3x. In terms of just strategies, what were the revenues in 2020 when you applied and we applied in 2020, was a yeah 2020 I think we were doing about 3.5 kilos of top line 2021. When you came to shark tank, you said that you will finish there in 9th cr and, however, this year we are close to troubling that number and uh well well's poised to close the year after that on another 40 to 50 percent code.

So uh during your uh pitch in shark tank, you were discussing revenue multiples so for a company in your category. What's a good multiple to decide the valuation our multiples are generally being between 10 and 15x. It's never been more than that and, however, if your unit economics are not sound, I have seen cases where revenue multiples of 5x are also being offered to new brands right. So this is a rapid fire round. Okay, you've got to answer all the questions quickly. So, first of all who, out of the two came with the original concept me yeah, who made the original concept first time? Okay, he's the idea, man I exit, which shock were you most looking to work with wow? Oh sorry,

okay, like the shark said uh, did you come to the show for surrogate advertisement or were you actually looking to raise funds, promotion or surrogate 100 awareness for the brand awareness for the brand was something we were looking for and we got that with the current revenue figures and the multiples that we discussed is the current valuation more than what you guys had quoted uh in the first season of track time. No shark tank's number was completely an inflated figure so as to not enter a negotiation at all, except for moonshine, which is your preferred liquor spirit. What's your favorite flavor from moonshine moonshine, so bomb sunny day, salted cocoa made so refreshing, really good, wow chilli mine is grilled pineapple. That's my favorite and the last question is who is your biggest competitor in the country, budweiser yeah, true nice? On that ambitious note, you're gonna end the show. Thank you so much. That's all for today's video guys

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