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

SET India

7 Mar 202415:26

Summary

TLDRThe 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.

Outlines

00:00

😀 Entrepreneurial Ambitions and the Birth of a Health Brand

Sahil and Dhruv, both 21 years old, share their entrepreneurial journey in the food industry. Sahil, after being inspired by his passion for the food industry, joined the Indian School of Hospitality in Gurugram to learn culinary arts. Dhruv, with a desire to become an entrepreneur, is studying at the University of Noida, focusing on real estate and urban infrastructure. They both have ambitious plans to make a mark in their respective fields. They discuss their experiences at 'Satt Night' parties and their decision to focus on health and knowledge instead of indulging. They also talk about their observation that many people consume nutritional bars thinking they are healthy, which led them to start formulating their own energy bars to replace unhealthy options. They mention their product lines, Rice Bytes, Bliss Bytes, and Dream Bytes, targeting specific health needs like energy, period pain relief, and sleep improvement. Their vision is to become kings in the health and wellness category and they have plans to sell through their website and offline retail stores, partnering with companies like Jim Airlines.

05:03

💼 Financing the Venture and Market Research

The founders discuss how they started their venture at the age of 21, sharing their initial thoughts and the process of bringing their idea to life. They delve into their market research, emphasizing the importance of understanding the market and identifying gaps in existing products. They mention their decision to invest their own money into the business, with additional funding from Daniel Webber and Sunny Leone, who are also brand ambassadors. The conversation highlights the importance of positioning oneself in the market and the strategy behind their pricing. They also discuss their plans for distribution, focusing on capturing local markets and gradually expanding their reach.

10:03

📈 Growth Strategies and Investor Relations

The discussion shifts to the brand's growth strategy and the importance of resilience in entrepreneurship. The founders talk about their approach to scaling the business, emphasizing the need for in-depth knowledge of the market and the importance of learning from every experience. They also discuss their engagement with investors, highlighting the need for a clear understanding of the business model and the importance of delivering on promises. The conversation touches on the challenges of entering the market and the need for a robust plan to stand out. The speaker advises the founders to focus on the details of their distribution strategy and to learn from successful entrepreneurs in their industry.

15:06

🎓 Learning from Experience and Preparing for Market Entry

The conversation concludes with advice for the founders on focusing on customer feedback and the importance of resilience in the face of challenges. The speaker suggests that the founders should concentrate on understanding their first 100 customers to gain insights into their business. They also discuss the potential for growth and the need to be prepared for the learning curve that comes with entering the market. The speaker offers to provide further guidance and encourages the founders to continue learning and adapting as they grow their business.

Mindmap

Keywords

💡Food Industry

The food industry refers to the businesses that deal with the processing, preservation, and distribution of food products. In the video, Sahil expresses his interest in making a mark in the food industry, which is the central theme as he discusses his journey in culinary arts and the creation of a food product line.

💡Entrepreneurship

Entrepreneurship is the process of designing, launching, and running a new business, which typically starts as a small business and can grow into something much larger. Dhruv, another person in the video, has always wanted to be an entrepreneur, which is evident in his pursuit of a business venture in real estate and urban infrastructure.

💡Nutritional Bars

Nutritional bars are a type of food bar intended to provide nutritional benefits, such as energy, vitamins, and minerals. The video discusses the founders' initiative to create their own energy bars as a healthier alternative to existing products in the market, emphasizing the importance of nutrition and overall wellness.

💡Innovation

Innovation refers to the process of bringing new ideas or methods to life, often resulting in new products or services. The video highlights the founders' innovative approach in formulating their energy bars, targeting specific health needs and aiming to replace unhealthy bars with their own.

💡Health and Wellness

Health and wellness is a concept that encompasses a state of complete physical, mental, and social well-being, and not merely the absence of disease or infirmity. The video's theme revolves around the importance of health and wellness, as the founders aim to improve people's health through their food products.

💡Caffeine and Torin

Caffeine is a central nervous system stimulant that can reduce the feeling of fatigue and increase alertness. Torin is mentioned in the context of providing a boost of energy similar to that of a cup of coffee but without the subsequent crash. These substances are key ingredients in the energy bars discussed in the video.

💡

💡Melatonin

Melatonin is a hormone that regulates sleep-wake cycles. In the video, it is mentioned as an ingredient in 'Dream Bites,' which are designed to improve sleep quality by aiding in falling asleep and maintaining deep sleep.

💡Protein

Protein is a macronutrient that is essential for the growth and maintenance of body tissues. The video emphasizes the high protein content in their bars, which ranges from 6 to 3 grams, catering to the needs of fitness enthusiasts and health-conscious consumers.

💡Packaging

Packaging refers to the process of enclosing or protecting a product for distribution, storage, sale, and use. The video mentions the packaging of the nutritional bars, highlighting its appeal and the convenience it offers to consumers.

💡Distribution Strategy

A distribution strategy outlines how a company will make its product available to its target audience. The video discusses the founders' plan to distribute their products through online retail stores, partnerships, and eventually expanding to offline retail stores.

💡Investment

Investment in this context refers to the funds provided by individuals or entities to finance the development and growth of a business. The video talks about the founders' own investment in the business, as well as the funding they have secured from external investors.

Highlights

Sahil and Dhruv, both 21 years old, have always been passionate about making an impact in the food industry and real estate respectively since childhood.

They both share a common vision of wanting to make a difference in people's lives and are ambitious about their future.

They noticed a gap in the market for healthier, better quality protein bars and decided to create their own brand to fill that void.

Their energy bars are formulated with natural ingredients like caffeine, turmeric and date sugar to provide sustained energy without crashes.

They have also developed other innovative products like Bliss Bits for reducing period pain and Dream Bits with melatonin for improving sleep.

Their products are now ready and they have started production, with a vision to become the king of the health and wellness category.

They plan to sell through their website, offline retail stores and partnerships with companies like Jet Airways.

The founders have invested their own money and raised funds from investors like Daniel Webber and Sunny Leone.

They have done extensive market research and studied the ingredients of all existing energy bars to identify the gaps they could fill.

Their energy bars have the highest protein, lowest fat and carbs compared to other brands, with natural sugar from dates.

They use natural ingredients and have removed unhealthy components like added sugar and artificial sweeteners found in other bars.

Their brand ambassador Sunny Leone has invested Rs 30 lakh and will take a 2.5% equity stake in the company.

They have a long-term vision of building a strong brand and are not focused on short-term profits.

They plan to start by capturing the market in Gurugram and then expanding to Delhi, Mumbai and Bangalore.

They have tied up with shipping partners like FedEx for timely delivery of products online.

The cost of acquiring a customer online is approximately Rs 125 to Rs 500, depending on various factors.

The founders have a deep understanding of their target audience and the health and wellness market.

They aim to provide a healthy and tasty snacking option for fitness enthusiasts, tourists, working professionals and women facing period pain.

Their product is sugar-free, low in calories and high in protein, making it an ideal choice for health-conscious consumers.

They have a solid plan for offline expansion by capturing one area at a time and building a strong brand presence.

The founders have a strong passion and commitment to their venture, which is evident in their attention to detail and focus on quality.