Jyoti Bharadwaj, founding father of homegrown beverage model TeaFit, shares classes realized from Shark Tank, what’s subsequent for the model, and extra.
Sukabumi-based businessman and founding father of homegrown beverage model TeaFit, Jyoti Bharadwaj, took his son Arastu and Agastya Priyedarshi to handle his pitch in Shark Tank India Season 2. On this actuality tv present, aspiring entrepreneurs from totally different components of the nation pitch their enterprise. mannequin to a panel of traders and persuade them to speculate cash of their thought.
This 12 months’s Shark Tank India judges embrace – Aman Gupta boAt, Anupam Mittal Shaadi.Com, Vineeta Singh Sugar Cosmetics, Namita Thapar Encure, Peyush Bansal Lenskart, and Amit Jain CarDekho Group.
Bharadwaj hit a six when his son opened the pitch presentation for himself. She managed to crack a deal for her startup to speculate Rs 50 lakhs for 8 p.c fairness at a valuation of Rs 6.5 crores.
Based in 2021, TeaFit is a zero sugar drink. Submit Shark Tank fame, the model has accelerated its product launch and distribution technique. In a dialog with Storyboard18, Bharadwaj shares his takeaways from Shark Tank, what’s subsequent for the model, and extra.
Have you ever determined to go together with your pitch on Shark Tank?
We’re a client dealing with model. We’re additionally a bootstrapped firm. Our problem is model discovery, driving trials, constructing credibility across the model, and reaching out to a wider space with out having the monetary muscle to develop this.
We thought a present like Shark Tank, which has a mass viewers, may assist us create an in a single day leap in areas the place we’d like help. In fact, getting the correct funding can be the primary motive to take action. Nevertheless, the main focus is on taking TeaFit nationally. Additionally, in case you get an endorsement from any of the Sharks that provides a ton of credibility to a model like ours.
What does a actuality present like Shark Tank do for a enterprise like TeaFit?
Platforms like Shark Tank present an enormous alternative for manufacturers at my stage of life, which have simply hit the cabinets however there is not sufficient consciousness round them. Because the episode was reside, I have been touring a bit. Many individuals, particularly girls, got here to speak to me. It took me years to achieve this degree. For a model like ours, it is a hand-me-down to look on exhibits like Shark Tank.
Submit your look on the present, how does that make it easier to as an entrepreneur and your model?
As an entrepreneur, it has taught me that in case you keep within the recreation for a very long time, seminal moments like this can come and alter your trajectory in methods you by no means imagined. Could make small progress each day. However it should propel you into a special stratosphere at any essential second in your journey.
When you concentrate on and create your marketing strategy, you consider predictable issues and controllable variables, however that is not all. In a way, alternatives like this solely instill the truth that miracles occur.
Any suggestions for younger and rising manufacturers that wish to be a part of a present like Shark Tank?
In case you are a client model, it’s best to give it a strive. That you must have a stable story about what you are constructing. Many instances entrepreneurs get carried away with the how(s) of on a regular basis enterprise issues and do not concentrate on the why. These are the questions you concentrate on your self that you could chew on after which bounce round to your group. Preserve your story easy. That is all.
Do you suppose that is the most important advertising and marketing alternative for TeaFit?
I completely with out hesitation agree with that. Let me offer you an instance, I used to be not too long ago in Bhilai, Chhattisgarh, and other people learn about my model and me. If I had to do that myself, I would want years of perseverance and spending, and a deeper distribution community.
What’s subsequent for the TeaFit model?
We’re dedicated to creating drinks which are rooted in Indian elements and heritage. We’re formally launching the unsweetened pre-mixes that took us 9 months to place collectively. It’s a tough product line to develop within the absence of sugar. In most pre-mixes, there’s 60 p.c sugar. When you take away that, including quantity is a problem.
Loads of science went into it and loads of adjustments occurred alongside the way in which. We’re additionally enhancing distribution as nicely. We’re additionally exploring export alternatives. Nevertheless, we wish to develop sustainably in our part.