The Brothers’ Entertaining Pitch Fails to Secure Investment from Aman and Ritesh
The latest episode of Shark Tank India 3 featured the first pitch from brothers Amrit and Anand Nahar, who presented their fast food franchise-based brand to the sharks. Their engaging pitch, seeking Rs 1.5 crore for 1% equity, received positive feedback as the sharks tasted their food and inquired about their business model.
Anand’s Revelation and Financial Details
During the pitch, Anand shared his desire to invest in Oyo and his experience attempting to contact the company, which amused Ritesh Agarwal. The brothers also discussed their financial capabilities, with Anand revealing that he had Rs 5-6 crore to invest and sharing details of his investments in stocks and SMEs. The sharks were impressed by Anand’s business model, which featured chefless franchises and affordable rental rates for their restaurants.
Investment Offer and Negotiation
After further discussion, Anupam and Aman expressed concerns about potential hidden information and felt that the brothers were being untruthful. While Anupam and Peyush opted out of the deal, Aman believed in the potential for significant growth. Vineeta also chose not to invest, leading to Ritesh and Aman’s joint offer of Rs 20 lakhs with 1% equity and Rs 1.3 crore debt at 10% interest for 3 years.
Anand’s Counter Offer and Subsequent Negotiation
In response to the offer, Anand proposed a counter offer of 100 hours for 1% equity and Rs 1.5 crore debt at 10% interest for 3 years. Aman expressed his inability to commit to the hours but offered to provide support and mentorship. However, Anand continued to negotiate, leading to frustration from Ritesh and Aman, who ultimately decided to back out of the potential deal.
Despite their entertaining pitch and positive feedback on their business model, Anand and Amrit Nahar left Shark Tank India 3 without securing an investment deal. The episode highlighted the challenges and negotiations involved in securing investment on the show, and the brothers’ pitch provided valuable insights into the fast food industry and entrepreneurial endeavors.