Shark Tank India 3 | 'Rize Bars' में Investment कर चुकीं हैं Sunny Leone | Pitches

Summary

The transcript appears to be a conversation with Sahil and Dhruv, two 21-year-olds who have started their entrepreneurial journey in the health and wellness industry. Sahil, having joined the Indian School of Hospitality in Gurugram to learn culinary arts, aspires to make a mark in the food industry. Dhruv, studying at MT University in Noida for a degree in BBA Real Estate and Urban Infrastructure, shares Sahil's ambition to become an entrepreneur. They discuss their shared vision of creating a brand that focuses on overall wellness, including sleep, energy, and hormonal health. They've formulated energy bars to replace unhealthy options, targeting specific health needs like caffeine and taurine for energy, and ingredients like melatonin for sleep. Their products are ready, and they've begun production, with plans to sell through their website and offline retail stores, targeting innovative product development to assist people in various categories such as fitness enthusiasts, tourists, and those with sleep issues. They've invested their own funds and received investments from Daniel Webber and Sunny Leone, aiming for a high valuation and a strong market position. The conversation also touches on the importance of resilience, learning from the business, and the need for a deep understanding of the market and the product to succeed.

Takeaways

• 👨‍🍳 Sahil and Dhruv, both 21 years old, are passionate about making an impact in the food industry and entrepreneurship, respectively.
• 🏫 Sahil joined the Indian School of Hospitality in Gurugram to learn culinary arts and aims to become a top chef in the industry.
• 🏢 Dhruv is studying BBA in Real Estate and Urban Infrastructure at MT University, Noida, with a vision to become an entrepreneur.
• 🤝 Both friends share a common vision of being ambitious and making a difference in people's lives through their ventures.
• 🌙 They noticed a gap in the market for healthier and more nutritious energy bars, leading them to start formulating their own.
• ☕️ Their energy bars, 'Rice Bites', target specific health and wellness needs, including caffeine and taurine for energy, and ingredients like melatonin for better sleep.
• 📈 They have started production and are selling their products online through their website and are looking to expand into offline retail stores and partnerships.
• 💰 The pricing strategy is set to play in the premium segment, positioning themselves as a high-quality option in the market.
• 📊 They have invested their own funds and received investments from friends and family, with plans to further scale their business.
• 🚀 The founders aim to innovate and bring new products to the market, targeting to become a leading brand in the health and wellness category.
• 📉 Sahil and Dhruv emphasize the importance of resilience and learning from challenges, as they believe these are key to entrepreneurial success.

Q & A

What is the background of Sahil and Dhruv, and what inspired them to enter the food industry?

Sahil and Dhruv are both 21 years old and have always been interested in the food industry. Sahil joined the Indian School of Hospitality in Gurugram to study Culinary Arts, which is known for producing top chefs and leaders in the industry. Dhruv, with a similar entrepreneurial spirit, is studying BBA in Real Estate and Urban Infrastructure at MT University, Noida.

What is the main issue they identified with nutritional bars that they decided to address with their product?

They noticed that many people were consuming nutritional bars thinking they were healthy, but they realized that these bars were actually unhealthy. This led them to start formulating their own energy bars to replace the unhealthy ones in the market.

Can you explain the concept behind their product 'Bite Rice' and its benefits?

Bite Rice is a product that targets specific health and wellness needs. It contains caffeine and turmeric to provide energy, equivalent to the amount of caffeine in a cup of coffee. Additionally, they have created Bliss Bits to help with menstrual pain and Dream Bits which contain melatonin to aid in better sleep.

What are the distribution strategies they are employing for their products?

They plan to sell their products through their website, offline retail stores, and partnerships. They have also expressed interest in collaborating with companies like Jim Air Lines for distribution.

What is their vision for the brand and what kind of innovative products are they looking to introduce?

Their vision is to become the king in the health and wellness category. They aim to introduce innovative products that can help people and have a positive impact on their lives.

What is the pricing strategy for their Dream Bit product and how does it compare to the cost of similar products in the market?

They sell Dream Bit for ₹75 for a pack of eight, which is approximately 50 for a single bar. This pricing is considered high-end positioning, aiming to establish the brand as premium in the market.

How did Sahil and Dhruv fund their startup and what is their current financial status?

They initially funded their startup with their own savings of 2 lakhs and have received further investment from their network. They have also mentioned raising funds from Daniel Webber and Sunny Leone, who are also brand ambassadors, investing 30 lakhs.

What is the unique selling proposition of their energy bars compared to other products in the market?

Their energy bars are formulated with high protein, low fat, and low carbs. They also include natural sugar from date sugar and fiber, making them a healthier choice. The bars are also designed to provide a consistent flow of energy without the crashes associated with caffeine.

How do they plan to tackle competition and establish their brand in a crowded market?

They plan to focus on capturing the market in Gurugram first, then expanding to Delhi and other cities like Mumbai and Bengaluru. They aim to create visibility and brand recognition by targeting specific areas and building a strong brand presence.

What is the role of celebrity endorsements in their marketing strategy?

Celebrity endorsements play a significant role in their strategy. They have engaged Sunny Leone and Daniel Webber not only as investors but also as brand ambassadors to leverage their popularity and influence to promote the brand.

What are the future plans for online sales and distribution of their products?

They have partnered with Pin India for shipping and are available online. They plan to use their website for direct sales and are considering various online strategies to reach a wider audience.

What advice was given to Sahil and Dhruv regarding their business approach and strategy?

The advice given was to focus on the first 100 customers and understand their needs and preferences thoroughly. It was also suggested that they should be resilient and prepared to face challenges, as the business will teach them and help them grow.