Table of Contents
Shark Tank India Season 2 Tea Fit
|Company name||Tea Fit|
|Ask||₹50 lakhs for 3% equity|
Tea Fit Founder
Jyoti Bhardwaj is from Bihar and currently living in Mumbai. Jyoti holds 99.5 % and the remaining 0.5% shares remain with her mother-in-law who was her first investor.
About the company of Tea Fit
The company aims to provide a refreshing choice to consumers. Tea Fit is an unsweetened beverage brand and the products contain no sugar and no sweeteners. They brewed this tea with green tea, black tea, and hand-toasted barley. This is a result of the formulation of 15 herbs. The brewing process is their procitery. The company was founded in 2021 and till date they gained more than 20,000 customers. Throughout India, they are present in more than 200 leading retailer stores. They sell their products through their online store, Amazon, Big Basket, Cred, etc. Jyoti got inspired by the business idea by her own family as her both parents were diabetic and sugar was not allowed in their house. Barley and cinnamon are the ingredients in Tea Fit products that give a little sweetness. The product is FSSAI tested containing no calories and no sweeteners.
Ask By the pitchers
The founder made an ask of ₹50 lacs for 3% equity of the company at the valuation of 16.67 crores.
Haqdarshak Shark Tank India Season 2
Tea Fit Company
The price of one bottle is ₹120 out of which the trade margin is ₹36 and the price to the retailer is ₹84, COGS is ₹30 gross profit is 54. The making price of one bottle is ₹5, the cap of bottle cost ₹0.5, sleeve costs ₹2, the ayurvedic herbs cost ₹5, tea leaves cost ₹2, German technology used here of ₹2, filing cost is ₹6, box cost ₹2 and others cost is ₹3.5. In FY 21 to 22 the sales were 15.5 lakhs out of which the profit was 78 lakhs. In FY 22 to 23 the projected sales is 45 to 55 lakhs. The monthly sales on July 22 2.5 lakhs on August 22 it is 2.1 lakhs and on September 22 it is 3.5 lakhs. She sells her products 35% through online sources and 65% through offline sources. Currently they have developed pre mixed tea sachets which they will launch soon in the market. Its price point could be 350 to 450 for 10 sachets.
Offers and counter offers
Vineeta and Anupam gave an offer of 50 lakhs per 25% equity of the company at the valuation of 2 crores in Shark Tank India.
Peyush gave an offer of 50 lakhs for 20% equity of the company at the valuation of 2.5 crores
Aman gave an offer of 50 lacs for 10% equity of the company at the valuation of 5 crores.
Later Vineeta, Anupam, and Peyush revised their offer and matched it to Aman’s offer.
Jyoti gave a counteroffer of 50 lacs for 8% equity at the valuation of 6.5 crore to all the sharks
Tea Fit Final deal
The final deal was closed with all four sharks Peyush, Vineeta, Anupam, and Aman at 50 lacs for 8% equity of the company at the valuation of 6.5 crores.