Shark Tank Licksters
In this episode of Shark Tank India Licksters, a premium popsicle and ice Cream brand which contains the most fruit content presents its pitch. Will they get a deal from the sharks? To know about the deal read till the end.
|Founders||Parimal Kalikar and Dhivya Subburaju|
|Ask||₹50 lakhs for 5% equity|
Parimal Kalikar and Dhivya Subburaju are the founders of the company. Parimal is from Maharashtra whereas Dhivya is from Tamil Nadu. Parimal has studied hotel management.
About the company Licksters
Once they did a challenge of no sugar and no dairy for 100 days. In this challenge, they didn’t have any sugar or dairy-made products including milkshakes, lemonade, chips, and ice creams, and only ate fruits. After the challenge when they took the first scoop of ice cream the only taste they can get is of chemicals. Then they decided to make ice cream that gave the real taste of fruits and not chemicals. In this way Licksters started. Licksters is India’s first premium popsicle and ice Cream brand which contains the most fruit content. One popsicle contains more than 80% fruit. The product contains no artificial color or chemicals. They have three different categories- Greek yogurt bars, vegan bars and ice cream bars. They also make premium ice creams and shakes. They have many innovative flavors and sugar-free options. Currently, they have around 30 flavors. Initially, this started with the small room, currently, they have 500 square feet area. They highly ensure to maintain the quality of the product.
Ask by the Owners Licksters
The founders made an ask of 50 lacs for 5% equity of the company at the valuation of 10 crores.
Licksters Sales And Revenue
The sales in FY 19-20 is 9 lakhs, in FY 20-21 it is 16 lacs, in FY 21-22 it is 65 lakhs, in FY 22 to 23 it is 65 lakhs in first 6 months and the year is projected sales is 2 crore. Their last month sales are 14 lakhs. The gross margin from their own store is 70 to 72%, and the product they sell to franchises the gross market becomes 50%. The net margin from their own store is 40% and from franchises it is 20 to 23%. On popsicles they get 40% margin, on ice cream it is 50%. Their lifetime sales are more than two crores and aims to make 5 crore sales with franchise in the upcoming year. They are available in their own stores, Zomato and Swiggy.
Offers and counter offers
Namita stepped out of the deal as she feels the pricing of the product is quite high.
Aman stepped out of the deal as he found pricing and potential issues in the product.
Peyush stepped out of the deal as he is currently an investor in skippy ice popsicles.
Anupam found a problem in the potential of the product and he says the logo and the name of the product can be miss understood. He stepped out of the deal.
Amit gave an offer of ₹25 lakhs for 5% equity of the company at the valuation of ₹5 crores and ₹25 lakhs debt. He made a special mention to work on the price of the product.
Licksters Final deal
The final deal was closed with Amit at ₹25 lakhs for 5% equity of the company at the valuation of ₹5 crores and ₹25 lakhs debt.