In the latest episode of Shark Tank India Season 3, two entrepreneurial brothers, Amrit and Anand Nahar, presented their fast-food franchise-based brand to the sharks. Seeking Rs 1.5 crore for a 1% equity stake, the brothers impressed the sharks with their interesting pitch and delicious food samples.
After tasting the food and receiving positive reviews from all the sharks, Ritesh inquired about Anand’s background and his motivation for starting the food joint. Anand shared a humorous incident about trying to invest in Oyo and the challenges he faced with the call center. He even showed a screenshot of the email, amusing Ritesh.
When asked about his investment capacity, Anand disclosed having Rs 5-6 crore and shared his investment portfolio in stocks and SMEs, leaving the sharks astonished. The chefless model of their franchises and affordable rentals below Rs 30,000 impressed the sharks, with Anand even offering to find cheaper spaces for Vineeta.
However, as the sharks delved deeper, Anupam and Aman sensed something amiss and suspected the brothers of dishonesty. Anupam opted out of the deal, but Aman believed in their potential for substantial growth. Peyush advised them to focus on their existing stores, while Vineeta also opted out.
In a surprising twist, Ritesh and Aman collaborated to offer Rs 20 lakhs with 1% equity and Rs 1.3 crore debt at 10% interest for three years. Anand countered with a proposal of 100 hours for 1% equity and Rs 1.5 crore debt at 10% interest for three years. However, Aman couldn’t commit the hours, leading to negotiations breaking down.
Ritesh introduced his catchphrase, “Ritesh ka nivesh,” and emphasized the importance of trust. Anand continued to negotiate, but Ritesh and Aman grew frustrated with his indecisiveness. Ultimately, both sharks backed out, and Anand and Amrit left the tank without a deal.
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