Welcome Readers, Are you looking for Shark Tank’s featured Sass Bar. Here you are skipping to the next paragraph. This article focuses on sass bar, sass bar soap, sass bar shark, the sass bar, the sass bar owner, the sass bar discount, handmade soap India Instagram and Episode 24 Shark Tank India.
| Company | The Sass Bar |
| Founder | Rishika Nayak Shetty |
| Business Category | Soap Making and Gifting Startup |
| Net Worth | Rs 30 Lakhs |
| Valuation | Rs 5 Crores |
| Funding Asked | Rs40 Lakhs for 8% Equity |
| Funding Given | Rs50 Lakhs for 35% Equity |
| Investors | Shaadi.com (Anupam Mittal) and MamaEarth ( Ghazal Alagh) |
| TV Show and Episode | Season-1 Episode 24- Shark Tank India |
Introduction to the pitch
Rishika Nayak Shetty is the founder of The Sass Bar and she is from Mumbai. The sass Bar started their pitch by basking sharks to open the boxes which were in front of them. Sharks were confused as they thought that those were eatables but they were surprised when they came to know that they were soaps.
What is The Sass Bar?
The Sass Bar is a concept gifting startup brand that makes a smile on your face. The first line of product is Desert soaps in which they made soaps of desert designs. After this Rishika collaborated with another artist and worked on Travel, Food, and Music in which they made niche gift boxes.
They want to make this brand as a Gifting synonymous brand by making people’s life sassy.
What is the ask of The Sass Bar from Sharks?
Rishika has demanded Rs 40 Lakhs for 8% equity and the valuation of The Sass Bar is Rs 5 Crores.
QnA | Sharks asking Sass Bar Shark Tank India |
What was the reason behind starting this business?
Rishika wanted to create something unique so she started this business in 2019.
Why Soaps as a gifting them?
When Rishika was traveling abroad there she saw handmade cold processed soaps and when she used them she loved the product. There was no moisturization needed after using that.
The Sass Bar is a Gifting Company or Body Soap Business?
Sass bar is a gifting company.
How will The Sass Bar compete with the other gifting startups?
Sass Bar is focusing on other products too. They are going to launch stationery products too. They also make bath bombs and are working on candles soaps etc.
How do Sass Bar soaps have so many qualities in them?
Sass bar soaps are equipped with these USPs.
- Paraben-free
- Vegan
- Cruelty-free
Ghazal Alakh (Founder of MamEarth) asked as they will face the melting issue if they use so many oils as Mamaearth also focuses on toxin-free and nonchemicals in their products,.
Rishika has developed a formula through which she can deliver it PAN India as she learned the same from soap making course.
What is the Net Worth of The Sass Bar?
This gifting startup has made sales of Rs 30 Lakhs in the Financial year of 2021-22. Last month the numbers were clocking to Rs 7 lakhs.
They are having a gross margin of 35% and Net Margin is 55%.
Sales Split
Soap -80% of their sales are deriving from Soaps.
What will be your strategy?
She wants to go in the gifting line as they can cater to a larger audience here instead of the body care line.
1:1 | Shark Tank India investing in The Sass Bar |
Vineeta Singh
She feels that the company should manufacture one hero product and the single product should clock sales of 10-15Lakhs every month. Vineeta wished Rishika all the best for her future and with this, she is out from this pitch.
Peyush Bansal
He thinks that the USP of this startup is not the product but only packaging and their core product is soap. They want to go ahead in Gifting startup and have no clarity so He is out from this pitch.
Ghazal Alakh
She loved the soaps in terms of looks as ice cream soap looks. She suggested rishika should work more clearly on the soap business as stationary is a highly competitive niche.
Anupam Mittal
Anupam is having doubts about Rishika’s capability and he will make an offer on the condition that she will only focus on the Soap Business.
Namita is out because she will not be able to add some extra value as compared to Anupam and Ghazal.
Ghazal and Anupam’s offer
The offer is going to be very interesting as there will be two sharks Mumma of earth and father of innovation.
Offer- Rs 40 Lakhs in exchange for 40% Equity.
Where did the deal get closed?
Ghazal said that she is having expertise in making and selling soaps so she will manage this task.
Anupam reduced the offered stake to 35% for Rs 40 Lakhs when Rishika countered him for 40%.
The deal gets closed on Rs 50 Lakhs for 35% Equity. The company has got a valuation of Rs 1.43 Crores.
Who are the Investors of The Sass Bar Shark Tank?
Shaadi.com and MamaEarth products are the investors of The sass bar. We as a team of under20s wish Rishika to make her business unicorn one day.
Don’t forget to read this !
You can read about these Sharks and How they build their Billion Dollar Brands by clicking down on their respective Shark Name.
- Aman Gupta-CMO and Co-Founder of boAt Headphones
- Ashneer Grover– Founder of BharatPe
- Vineeta Singh– CEO Sugar Cosmetics
- Anupam Mittal– CEO and Founder of Shaadi.com
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