One size does not fit all and this truth applies to the world of bussiness as well. In shark Tank India Season 2 we saw some phenomenal entrepreneurs doing killer bussiness, by just playing with 2 or 3 skills in which they simply rock.
Although business is a combination of a lot of skills, you don’t need to be the jack of all the trades when you start up. Mastering a few skills that come naturally to you and doing a decent enough job on your weaker skills does the job.
One such entrepreneur who is doing a fantastic job with one of her strengths of self-marketing is Parul Gulati of Nish Hair. Shark Tank India got the opportunity to witness some outstanding self-marketing skills through this pitch.
Nish Hair Review
It is ideal for the woman who has less hair and money too. It is India’s online hair extension brand.
Nish hair has the solution to all types of hair problems and needs be it for receding hairline, or you want a crown topper to compensate for your hair loss problems, or if you are gen z and want to experiment with wild and funky colors. They are a one-stop solution for all hair needs.
The clips are easy to apply and can transform your hair in no time at all. They claim that all their hair extensions are made up of natural hair.
Depending on their needs customer can choose from various categories that include:
You can check out their customer reviews here.
Nish Hair CEO
Parul Gulati from Rohtak Haryana is the CEO of Nish Hairs. She started her career as an actress. Once in 2016 when she did not have much acting work, she just chopped off her hair and had a shoot, so she requested the production team to pay for the wig, which they refused.
From here she got the idea to start a business in hair extensions. In 2017 she started her business. Initially, the performance of the business was dismal but in 2019 the performance improved.
Let us check out some amazing qualities of Parul Gulati that have helped her make ₹5 crores in profits in the year 2021-2022
She is pursuing the hair extensions business and acting full-time. When the sharks questioned how can she do two things full-time, she gave a witty reply that she is married to acting and business is her baby how can she choose between both?
- Execution Skills
With a small team, she has managed to build a profitable business that makes crores in profit yearly.
This is her strongest skill. Throughout the pitch, she had casually mentioned Nish.com at least 3 to 4 times. This is jugadu marketing at its best. With only ₹1.3 lakhs in marketing, she makes sales of an average of ₹75 lakhs monthly.
The big reason for her booming sales is her Instagram account where she has 245K followers and in her main account, she has 2 million subscribers. She has put in a lot of effort to teach how to use her hair extensions, take care of them, wash them, fix them if the clip is broken, style them, etc. in her Instagram videos.
Kudos to her self-Marketing skills.
However, like every human being, she has her weakness too. She finds it difficult to hire the right people.
Nish Hair Shark Tank
The original ask was ₹1 crore for 2% equity.
- October 2022- ₹80 lakhs
- September 2022- ₹70 lakhs
- August 2022- ₹64 lakhs
(2021-2022)- ₹6.7 crores
(2022-2023)- estimated projection ₹15 crores
The average ticket size for Nish Hair is ₹5K.
Their long hair extensions cost ₹1.3K (making cost 350) and short hair extension cost ₹850 (making cost 300)
Looking at her business acumen Aman Gupta told the founder that she has the potential to become a shark.
Amit Jain was so impressed that he gave her the dream deal i.e., ₹1 crore for 2% equity.
Anupam Mittal and Namita Thapar were out.
Peyush Bansal was out because he believed that in order to scale this business to more than ₹100 crores, she will have to dilute the equity to more than 20%, which the founder was not willing to do.
Aman Gupta and Vineeta Singh gave the offer of ₹1 crore at 3% equity.
When it was time to decide whose offer she would choose, the founder asked all 3 sharks how much time would they put into her business. To this Amit Jain replied that he will work with her at the ground execution level. Vineeta and Aman explained that they might not be able to give a lot of time, but their team would give them full help.
This is when she decided that she would go with Amit Jain’s offer.
Where To Find
Instagram | Facebook | Website | Twitter
Without a degree in any business course, the founder has managed to build a business that earns profit in crores. Such entrepreneurs are an inspiration for people who want to make it big with limited resources.
You don’t need to go to big business schools to learn about entrepreneurship, your full life is there to teach you the lessons that you need to succeed in your life. The trick lies in being open to learning from those lessons rather than resisting them.
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