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Introduction to the pitch | CocoFit | Shark Tank India
This pitch is going to be about the Coconut startup- Coco Fit featured in Shark Tank India to Raise Funding. They started their pitch by describing Coconuts in India. Coconut production in India is very high and India is the third-highest producer of Coconut in the world. Then also Coconut is an unhygienic sector in India and Transportation of coconut is very difficult because of its huge size and weight. For health-conscious customers, Fruit juice becomes only a single option and even that is diluted lately.
In order to solve all the above-mentioned problems, they came up with a brand called CocoFit.
What is CocoFit? | Shark Tank India
Shashikant is the founder and director of CocoFit based in Hyderbad and Sunil Kumar is the CEO of the company and Pawan is the director of the company.
Cocofit’s business idea is very simple. They want to make the coconut business corporate because the coconut sector has a revenue of 256 Billion every year in our country. Still, this sector is unorganized, unhygienic, and underutilized.
Cocofit was started in August 2019 and in 2 Years they have managed to start 31 Outlets in 7 States.
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What is the ask of CocoFit?
They are asking forRs5 in exchange for 5% of their equity. Sharks were surprised after listening to this. CocoFit said that they want this much Investment in certain conditions.
Cocofit got multiple franchise requests from many countries and people are good to go with CocoFit. They are facing the problem as they don’t know how to move on to multiple countries because operations are different. Cocofit needs someone who can strongly support them and knows the business better than them.
QnA | Sharks vs CocoFit | Shark Tank India
This is one of the most exciting segments of the article as in this only Sharks judge the business and decide will they invest or not. So be ready to read the following questions and their furious answers.
What is the Product that CocoFit sells?
The team of CocoFit served them coconut juices to sharks. Sharks were flattered after consuming that Juice and had a nice experience.
What are the revenues of CocoFit?
They have done a business of 3.1 Crores and made a gross profit of 2.4Crores. Their net profit is 2.1 Crore.
They have sold 2 master franchisees at a cost of 50Lakhs each so they have a direct total profit of 1 Crore. Even if master franchise owners sell unit franchises then also they get 50% profit.
So CocoNut is a Product business or a Franchise Business?
This is a franchise business.
What is the cost of the Franchise of CocoFit?
The franchise of cocofit costs about Rs 50 Lakhs to one outlet.
Where are the outlets of CocoFit?
Cocofit is having 31 outlets across 7 states in which also include.
- CocoFit Vijayawada
- Cocofit Pondicherry
- Cocofit Tirupati
- Cocofit Hyderabad
- Cocofit Khammam
Sharks invest in CocoFit | Shark Tank India
Ashneer Grover (Founder BharatPe)
No matter how cheap you sell it, I am out of this business.
Peyush Bansal (Founder Lenskart)
I think you should work on your own franchise unit economics. The franchisee will be at your home and I don’t want them to be at my place. I am out of this.
Aman Gupta (Founder and CMO boAt)
Unnecessarily I will not invest in your business. I love coconuts. If any franchise is not making money so we will return his money from our banks.
CocoFit closed this deal with Aman Gupta, Peyush Bansal, and Namita Thapar.