इस Pitcher को Anupam ने Offer कर दी अपनी Shark की Chair | Individual Shark Wins

Summary

Parul Gulati, an actor and entrepreneur, shares her inspiring journey of creating 'Nishar,' India's first online hair extension company. From starting with a simple idea in her living room with her mother to creating innovative hair products for women facing hair loss, Parul's business has grown remarkably. Despite challenges, including limited marketing spend, her brand thrives through word-of-mouth and social media engagement. With a vision to make her business a 100-crore venture, she pitches her company on *Shark Tank India* seeking investment, navigating the dynamics of business growth, competition, and ownership control.

Takeaways

• 😀 Parul Gulati is an actor and entrepreneur, known for her hair extension brand, Nishar, which she founded from her living room with her mother's sewing machine.
• 😀 She created Nishar to address the need for affordable and high-quality hair extensions for women with hair thinning or hair loss, especially new mothers dealing with post-partum hair loss.
• 😀 Nishar offers a range of products, including hair toppers, face-framing hair extensions, and color stands, all made from human hair to look natural.
• 😀 Parul's acting career continues alongside her full-time business, and she balances both by prioritizing her acting career while still being deeply invested in her business.
• 😀 Parul started her business in 2017 after struggling to find suitable hair extensions for herself, initially facing rejections when asking for funding.
• 😀 The business started to gain momentum around 2019, coinciding with her increased visibility through web shows during the lockdown, which boosted both her acting career and her brand's recognition.
• 😀 Parul’s business strategy focuses on organic marketing through word of mouth and social media, particularly Instagram reels, to showcase how to use and care for the products.
• 😀 The hair extension market is a multi-billion dollar industry, and Parul's brand has captured a significant share, with her products being sold online and offline, with monthly sales exceeding ₹80 lakh.
• 😀 Parul’s brand has achieved significant success with minimal marketing spend (approximately ₹1.3 lakh per month) and relies heavily on her personal engagement with her audience and organic growth.
• 😀 Despite growing competition, Parul aims to scale Nishar into a ₹100 crore business, with a particular focus on expanding the team and reaching a larger audience.
• 😀 Parul’s ability to manage a business and acting career simultaneously has impressed investors, with multiple offers from business sharks, offering funding in exchange for equity in her growing company.

Q & A

What inspired Parul Gulati to start her hair extension business?

Parul Gulati was inspired to start her hair extension business after realizing her personal need for high-quality hair extensions. She struggled with hair thinning and the high cost of professional hair extensions, leading her to create affordable options for women with similar issues.

What makes Parul's hair extensions different from others in the market?

Parul's hair extensions stand out because they are made with high-quality human hair and are designed to address specific hair problems like hair thinning and hair loss. She also focuses on creating extensions that are comfortable and affordable, catering to women who may not have a large budget.

How did Parul start her business?

Parul started her business by launching it from her living room with the help of her mother’s sewing machine. She began by producing hair extensions to solve her own hair issues and gradually turned it into a full-time business.

How did Parul manage to balance acting and running her business?

Despite being a mother and having a career in acting, Parul managed to balance both by dedicating time to her business while continuing her acting career. She emphasized that her acting career helped support her business, and she utilized her public presence to promote her products.

What challenges did Parul face when growing her business?

Parul faced challenges in scaling her business, particularly in finding the right team and handling the increasing competition in the market. She also mentioned the difficulty of managing a small team from a home office, which made it challenging to handle the growing demand.

How did Parul's business perform during the COVID-19 lockdown?

During the lockdown, Parul's business saw a significant rise in online sales. She used her social media presence to engage with her audience, sharing videos to demonstrate how to use her products. This helped her connect with more customers and boosted her business.

What is Parul's approach to marketing her products?

Parul focuses on organic marketing, utilizing word-of-mouth and her own presence on social media platforms like Instagram. She creates engaging content, often sharing product tutorials and tips to help customers use her hair extensions effectively.

What are Parul's future plans for her business?

Parul's goal is to grow her business into a 100-crore business. She plans to expand her product range, increase inventory, and improve her team to support the scaling process. Additionally, she is focused on keeping her business owner-ship while expanding through strategic investments.

How much revenue did Parul's business generate recently?

Parul's business recently generated a monthly revenue of 80 lakhs. She reported consistent growth in sales, with the previous month at 79 lakhs and the month before at 64 lakhs.

What offers did Parul receive from investors during her pitch?

Parul received two investment offers. One offer was from Amit for 1 crore in exchange for 2% equity, and the second offer was from Vinita and Amit together for 1 crore in exchange for 3% equity. Parul ultimately chose Amit's offer due to alignment with her goals.