Shark Tank Hobby India
In this episode of Shark Tank India Hobby India, a unique range of arts and crafts products manufacturing companies presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
|Company name||Hobby India|
|Founders||Vaibhav Dilipbhai Sutariya, Shruti Vaibhav Sutariya, Khyati Dilipbhai Sutariya|
|Ask||₹50 lakhs for 3% equity|
Hobby India Founder
Vaibhav Dilipbhai Sutariya, Shruti Vaibhav Sutariya, Khyati Dilipbhai Sutariya are the founders of Hobby India.
About the company Hobby India
During childhood, many have learned painting. Those who have not learned, try to draw something on the walls of their house. As they were attracted by art and colors. But as we grew up we forgot our painting skills. But during the lockdown period, many have tried their hands on their hobbies. As we all are different we have different imaginations and choices for art. Hobby India is an art brand where various art, crafts and DIY products are available. And if a customer wants a new product, customization is also available here. They have more than 5000 products and more than 15000 variants of these products. This makes them a one stop solution for all DIY and craft work. In the last 8 months, they have delivered more than 22000 products to 12000 customers. Their vision is to become India’s number one art and craft customized store and to reach every artist in India. They are available across their own website. Their team consists of 28 women employees. Their processing capacity is 80 orders per day.
Ask By the Owner of Hobby India
The owners made an ask of ₹50 lacs for 3% equity of the company at the valuation of ₹16.67 crores.
Hobby India Sales And Revenue
One product can cost from ₹220 to ₹250. Sales in FY 21 to 22 is ₹1.5 crores. Their last month’s sales were ₹21.5 lakhs. Out of total sales, 15% of home decor items are sold and the rest selling products are DIY products. About 90% of their customers are women. About 35% of orders come from South India, 15% from Mumbai, 15% from Delhi, and the rest 35% from other parts of India. Their average order value is₹1280, out of which product cost is ₹410, shipping cost is ₹160, processing cost is ₹170, website and payment gateway is ₹30, CAC is ₹90 and remaining margin is ₹420. They repeat sales by more than 50% every month. Net profit is 6.5 lakhs. Sales in FY 22 to 23 till date 1.17 crores. In FY 22 to 23 projected sales are 2.75 crores. EBITDA is 30%.
Shark Tank Green Snack Co
Offers and counter offers
Veenita and Amit gave a combined offer of 50 lakhs for 20% equity.
Owners give a counteroffer of 50 lacs for 4% equity.
Vinita and Amit give a final offer of 50 lacs for 15% equity.
Hobby India Final deal
The owners rejected the deal and no final deal was done.