Shark Tank Sharks recently made careful investment decisions in enterprises and entrepreneurs in India. Sharks liked the product but were critical of the pricing in Nutricook cookware’s initial presentation.
Nutricook develops healthy cooking equipment. In fact, the sharks brought up the high price in the majority of pitches throughout the programme.
While demonstrating their product, they claim that you can make Chapati, Cake, Biscuits, Pizza, Tandoori, and Kebabs using just one utensil.
The company’s slogan, “Make your cooking healthy,” and its business presentation, which included a revolutionary method of food preparation while upholding food-quality standards, were both used by NutriCook India. We’ll go into detail about it in today’s post.
About the Brand
The business vision of NutriCook India is to work in the utensil sector, enhancing every facet of it with the aid of technology and teaching customers about a new style of cooking by utilising healthy cooking equipment. Their aim is for their items to be used in healthy eating practises and for the nutritional value of the food to stay after cooking in their kitchenware.
A gulf between humanity and nature began to open up with the advancement of science and technology. The essential components of the world, such as air, water, atmosphere, and food, have been overused by humans, harming their lives and upsetting nature.
To preserve the nutritional value of food, it manufactures Healthy & Nutrition Cooking Vessel. Specialties like Oil Free Food and Airfryer Hacks are part of their product line.
Moreover, Nutricook India makes goods that are more technologically advanced and better designed than its steel utensils, which can benefit customers more;
- Small size
- sleek style
- brushed stainless steel with a high-end polish
- Dishwasher-Safe Coating and Non Stick Coating
The features and safety systems that are integrated into every Nutricook product ensure that it is incredibly safe to use.
Saes and Valuation
Nutricook price per set is ₹ 32,710. The investment so far in Nutricook is ₹4 crore.
- NutriCook Yearly Sales
- FY 2019 – 2020 Sales – ₹80 Lakh
- FY 2020 – 2021 Sales – ₹13 Lakh
- FY 2021 – 2022 Sales – ₹1 Cr (FY 2021 – 2022 Profit – ₹5 Lakhs)
- FY 2022 – 2023 Sales till date – ₹40 lakh
Last month he did sales of ₹8 lakh. NutriCook Lifetime Sales – ₹6 crore
Nutricook has over 2500 customers. Its making cost is 40% of the selling price. Gross merging remains at 60%.
Deal or No-deal?
The sharks were impressed with the Nutricook pitch for its product and pitch, but the price of cookware, which is estimated to be approximately Rs. 30k, was a major barrier to investment.
Shark Vineeta’s Offer: ₹50 Lakh for 10% Equity & ₹50 Lakh Debt @12% Interest, Valuation – ₹5 Crore
Business Pitcher’s Counter Offer: ₹1 Cr for 10% Equity & ₹50 Lakh Debt @12% Interest, Valuation – ₹10 Cr
Vineeta doesn’t accept pitcher’s counter offer, so business pitchers finalise the deal on Shark’s offer.
You must have recalled the NutriCook India Business business proposal from the first season of On2Cook. Both companies mention a novel method of cooking.
Try preparing the business action plan for the founder in accordance with the shark comment, keeping in mind the market development and acceptance of this product as well as cooking in traditional Indian utensils. We are assisting them in honing their business abilities in relation to their sector, just like any other business case study.
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