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HOW THIS IIM ALUM QUIT HIS JOB TO MOVE BACK TO INDIA AND BUILD TWO SUCCESSFUL ICE-CREAM BUSINESSES
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- Опубліковано 14 сер 2024
- Hi, thanks for stopping by! You’re watching #TheBarbershopWithShantanuS2: #RaisersEdge.
In this video, you’ll watch Kiran Shah, CEO of Go Zero take us through his journey from his family business and expansion of Apsara Ice creams, to creating Go Zero - a fully vegan ice cream brand.
Stay tuned to find out if Shantanu Deshpande (Bombay Shaving Company and Bombae), Mandar Vaidya (OYO), and Meghna Narayan (Slurrp Farm) decide to deploy capital to Go Zero or not!
________________________________
We are looking for early stage stage companies with:
- Amazing Founders
- Operating in large markets
- Are post revenue
- TBWS will put in the first or second institutional cheque!
Email us about you and your start-up on barbershop@bombayshavingcompany.com.
For more details follow us on our other socials!
Instagram: / thebarbersh. .
LinkedIn: / the-barbe. .
Facebook: / thebarbersho. .
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Liked the video? Like, comment & subscribe for more!
#podcast #entrepreneurship #tbws
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0:00 - Recap and Giveaway
0:51 - Introduction to S2: Raiser’s Edge
04:14 - “Entrepreneurship runs in my blood”: Introduction to Kiran Shah
7:09 - The Family Heirloom - Apsara Ice Creams
8:25 - Ambitious 2nd generation
8:58 - Apsara’s strategy to expand
11:08 - Family were hard to convince
13:15 - Difficulty in running the outlets
14:22 - Reaching out to food bloggers to market the outlets
15:24 - Becoming the highest rated outlet on Zomato
16:10 - Cracking the distribution changed things for Apsara
16:49 - Seeking out franchisees
19:14 - Issues resulted by the COVID19 pandemic
19:50 - Looking at a different business model
21:12 - Didn’t shut down a single store during the pandemic
22:20 - Uncovering the true potential: creating Go Zero
24:22 - The distinction between Apsara and Go Zero
25:18 - Idea behind Go Zero
27:15 - What ice creams do Go Zero offer?
30:30 - Who is the product catered towards?
33:15 - The importance of listening to your customers
34:25 - Apsara scaling from 1 to 125 locations
36:18 - Does Go Zero source from Apsara?
37:24 - Pricing
37:34 - Where does the bulk of the sales happen?
38:15 - Revenue break down
39:08 - Ice creams going the zero sugar route
40:26 - Are Indian desserts the next step?
42:00 - DNA is an important element of strategic choices
42:28 - The need to spread outlets across India
44:15 - Growth revenue for the coming period
45:40 - Understanding the upcoming growth revenue breakdown
46:29 - The bottleneck for Go Zero
47:45 - Sampling at Apsara stores
48:30 - Go Zero’s repeat customers
49:42 - Shantanu’s Aha Moment: Repeat is an important metric to track
50:20 - Go Zero: 10 in Zomato and Swiggy
52:28 - Kiran’s ask
55:57 - Mandar, Meghna, and Shantanu breakdown Go Zero’s highlights
1:00:00 - Understanding Go Zero’s evaluation
1:01:51 - Leaning on Meghna and her industry knowledge
1:03:12 - Sealing the deal
1:11:11 - Shantanu looks back at the Go Zero deal
About me & The BarberShop with Shantanu:
My name is Shantanu and I am the founder of Bombay Shaving Company and Bombae.
I LOVE entrepreneurship. Personally, I would rate myself as an average (at best) entrepreneur, but I love great ones.
Ohh God. These videos are like an MBA, that too completely free. Immense amount of knowledge.
Hi Kuldeep, Just wanted to tell you that every company has its own story or I would say every person has their own story. And if we talk about the MBA there you learn every aspect of business which plays a major role in the business.
This may be a lecture in an MBA curriculum but not the whole MBA.
I hope you agree with my opinion and I look forward to yours.
Pre-M valuation ask from Kiran is of INR 50 crores.
Loved season 1 of "The Barber Shop". There are few of such entrepreneurial podcasts growing in India but someone like you anchoring the episodes bring out the max take-away for young founders.
But this is some next-level .... This is so priceless to be freely available on UA-cam but kudos for this initiative. So thrilled for next episodes !!! please keep this going 😀
I ordered the go zero icecreams right after watching this episode and now, can't get over it!!!! It's so good!!! Kudos to the Idea and the implementation!!! This is amazing!!! Thank You!!!
This is a MASTERCLASS. This is like Shark Tank with Behind the Scenes included (which are actually more informative). Much appreciated Shantanu!
The pre money valuation put forward by Kiran was INR 50 crores.
Loved season 1 but season 2 has raised the bar so high. This new format is a breath of fresh air! Keep up the great work Shantanu!
Waaoo.. Shantanu's vision for next 20 years India need to create a million jobs a month.. Only visionary can think like this !
The point where Shantanu just takes down few notes is so raw and enlightening to see. Such a basic thing to do and yet not something you come across in such discussions.
Season 2 is 🔥
Can we please have an episode or two explaining all the different terminology? Like, I'm aware of a few terms here and there. I think it would be great if Shantanu and team could do a comprehensive video explaining the terms in a simple manner.
Wonderful episode as always! 👌🏼👏🏼
From next episodes, Can you please show closer view of the products.
Yes, Even I am thinking the same.
My mind is blown! This is what we need profitable small businesses that are no burning cash. Amazing invest on how a VC is thinking
You guys are doing a Nobel work of educating young minds of India about entrepreneurship and the know how’s knowledge of starting up, which otherwise is very difficult to get access to. This type of content will definitely inspire and encourage so many budding entrepreneurs to take their first step with much more confidence due to the decision making that would be much more informed and calculated than what it would have been otherwise. Congratulations to all of you.. you guys are really contributing to India’s growth story in more ways than one. Great work, Keep this up 👍🏻👏🏻
Ordered Apsara Guava icecream for the family ,this Sunday afternoon..Enjoyed the elevated taste with the Chilli salt mix.
Nice podcast and it is even better with the host jumping in between with 'bits' explaining the nuances and takeaways..even for a beginner like me. Kudos !!
This is probably the best thing I've seen in 2022. Just discovered a Gold Mine!!
This is kinda a The Whole Truth version of the commercial SHark pitches we tend to see these days. Kudos to Shantanu for taking this amazing initiative
Yaar Shantanu,
The maturity the understanding the way you investors guys handle the enterprineur absolutely amazing. Keep it up. Feel energetic feel good. Thx for the same.
We need Apsara outlet in Mangalore, ice cream city of India
Unbelievable data points! Being a second 2gen myself, so many take - away's to get inspired and motivated.
This content is gold
Especially for people who are new in the startup journey
Loved every bit of it.
I have watched your season 1 which was great but season 2 is even better because here you explain every aspect.
Keep up the good work
Cheers 🥂
Thank you so much for sharing !!
It's a huge pool of learning here.
Way to go team!!
The pre money valuation is 50 crs.
Thank you so much for bringing up season 2 . Loved the season 1of this podcast and looking forward for many more seasons. This is a mba masterclass for me.
@shantanu can u share how did kiran or anyone arrange funds, who wants to open more stores.... not everyone is from iim, meckinsey or an MBA. If a normal family business want to have finance to open stores, how do one do....pls make a video on that.
Amazing episode with so much depth and insight regarding his business. 1000 take aways from this episode. Amazing founder who has such a solid understanding!
I wait on saturdays to see these episodes- mind boggling- this is very good
Apsara ice cream is quite well known in the area I live in. Their sorbets are my favorite so just taking a guess I think the pre money valuation would be 7 Cr.
Love this show ! Please never stop 🙏🙏
Premoney Valuation 50 cr.
This is the one show i am gonna look forward to watch week by week. Shantanu explaing concepts in middle of episode which helps clarity. The show is very calm n interesting to watch
All the best Kiran! Hope to eat Go Zero at Boisar location too.
The pre money valuation was Rs. 50 crores.
Love your podcast Shantanu! ❤
50 cr valuation however I did not understand the esop part of it while negotiations
Brilliant episode! Keep it coming. Shantanu this is turning out to be one of my fav shows.
Pre Money Valuation - 50 crore
What a panel! Great show✨
Wow shantanu!
Thank you for this content.
Aashish is very sharp
Pre M-Valuation that was asked from Mr. Kiran is 50 Cr. INR
#Found this show through linkedin post.. Amazing content
Amazing and quality content
Shantanu sir, thank you so much for your content , for these kind funding rounds, for this kind of big help to Enterprenuers and wannaprenuers.. Superb sir..Thank you for all of this.
Interesting that the investors didn't ask about the kind of sweetener/sugar-substitute being used in the products. There is a hierarchy developing in the sugar substitute market with certain kinds of sugar substitutes (like aspartame) being considered more harmful than sugar. This is an evolving space and it will be interesting to see how Go Zero adapts its products to research study findings, international trends and consumer preferences.
50 cr is the premoney valuation
Absolutely loved the season 1 , looking forward to watch upcoming ep , and perhaps even myself will participate.
This is such an kick-ass idea.. am hooked
For the kit:)
50 Cr is the pre money valuation if other institutional checks come in. Then the check size is 50 lakhs to 1 Cr.
If Shantanu and his other 49 friends are only investors, then the pre money valuation is 40 Cr. And check size is 1 Cr which's only 2.5% dilution!
Hi Anindya, congratulations! You're the winner of this week's hamper.
Could you drop your contact details here or email them to thebarbershopwithshantanu@gmail.com and we'll be in touch with you.
The founder valued the company at 50cr pre-money, considering he is able to grow the net revenue of 6cr, target for next year, at 20-30% growth rate you for next 10 years, rallying to 55cr net, with a multiple of 20, 1110cr total valuation, the initial 1 cr will turn to 111cr, quite a big exit.
Valuation by the founder should have been higher.
Pre Money valuation for Go Zero Business that founder has put is around 50Cr, must say Love the show big fan from the start❤ love the explanation bit in between to help us understand the business jargons and valuation metrics #hamper #BarberShopTalks
Loved the fact that Shantanu uses a thinkpad laptop 😍
Pre money valuation refers to the total initial equity valuation of the company before going public or seeking external funding and investments from venture capitalist. The founder is valuing the business at 50cr valuation at pre money valuation
Hi Shantanu
You guys are the "Real sharks".
This is one of the best podcast, I saw on business and entrepreneurship.
Thankyou for providing the insights.
I am just waiting for this
The real question is there any consequences of consuming artificial sugar in long term, if so I wouldn't mind having more calories with natural sugar.
Sixer on the 2nd ball TBWS🚀
Great content! I think Shantanu notes would be better within the conversation, like in a podcast.
Loved the passion with which Kiran spoke
46:19 I love the way you made me understand that part which was going top of my mind
I want you to explain more of that when the difficult talk is there
It is much higher level of content then shark tank
Kiran's knowledge, flexibility, involvement...... business can reach 500 cr in next 5 yrs.
Hi Shantanu / Or anyone who knows the answer to these questions -
I have some questions. I am an absolute noob/newbie, willing to learn, so please excuse and correct my understanding/assumptions.
1. So, the Estimated Net Sales between January to June end is approximately ~5-6 crores. Making the ARR at ~10-12 crores. Now the multiple offered is ~4-5X making the pre-money value at Rs.50 crore. Is this understanding right? If yes, then as an investor you are basically trusting that the brand will do a ~Rs.1.4/month for AMJ. But what happens when the founder is not able to deliver on this promise?
2. How long typically is the process from this handshake to the SMS reading “INR 5 crore has been credited in your current account”?
3. Also, will the amount be given to the founder only when the ARR promise of ~12 crore is met, or will it be given before that? Is it an agreement that you are making today, but for a date 6-9 months in the future? So you give the cheque only at the end of June/July?
4. If no other investor came in, did you imply to offer 1 crore for 2.5% equity at 40 cr valuation? If yes, why? Will you not have very little skin in the game and would want to refrain from investing? Also, inability raise another 4 crore from elsewhere would reduce the chance of the founder to reach the goal of 25 cr significantly right? Or were you certain that differential 4 cr will be raised by soft pushes by the 50 of you in the VC intuitional ecosystem? What is the rationale?
Love these questions man!! :)
1. Yes guidance is just that - guidance. Reality may be different. But typically well run companies find their way to success. Paths may differ, even timelines may differ. But we’re trusting together we can guide the company.
2. Typically in very early stage situations 3-4 weeks :) in bsc for eg now a round will need 2-3 months
3. No in this case it’s not milestone dependent.
4. Yes I asked for 1 cr at 40 pre which is a 2.5% position but a Kiran stayed firm at 50 pre so we said ok. We aren’t a fund per se so were ok with a small position. We had belief given his proven track record that 1. Cr will drive the business to next level.
Ur questions are very intelligent and correct. Not like a newbie at all :) thank u for asking
@@shantanudeshpande Helps so much! Thank you so for the detailed answer!
Still only learning and lots to absorb hence a newbie 😝!
Also your humbleness at 1:07:22 when you said “If you could allow us the privilege….”.
So much to learn simply from that one sentence and how you framed it.
Many thanks and good wishes!
Loved this.. please continue providing these type of content... ❤️
Ya also Premoney valuation was 50 crores.
Hey Team, why aren't you guys updating these podcasts on podcast platforms like Google Podcasts, Spotify etc ? It's a bummer having to watch this on youtube for some of us !!
Absolutely amazing episode. The pre-money valuation was 50CR.
great content guys! now I have say this that Shark Tank should learn from You
she said our first brand is slurp farm, but whats the second brand ?
Hi Shantanu, The episode was great. The Pre-Money valuation by Kiran was INR 50 Cr.
Could you also describe why certain companies would want to raise money privately v/s publicly? I know there would be a turnover threshold (but even when they can).
Also, I know Kiran specifically stated and this would be true for most of the people coming on the show that they aren't only here for the money but for the network.
Is there a way through which the audience here could also pitch in with money. I know there are multiple P2P platforms ( but they are for lending) not for people who would want to invest in certain ideas and learn directly from the founders but with lesser amount of money?
That'll be a great way to market a product as well. If you get 1000 common people who watch the episode and put Rs. 10000 earch into your business, that's Rs. 1 Cr money raised along with 1000 new customers. It's a win-win situation for everyone. Obviously the legalities and paperwork will be tricky, but if Shantanu and team can crack this, it'll be great tbh.
Why don't you come to a portal like tyke invest? People would love to invest in such companies.
Why? We have money. We need founders.
Wow what a great session
Absolutely Guru mantra
The pre money valuation is 50 cr.
This is the best podcast on the internet.
It refers to the valuation of a company or asset prior to an investment or financing and in the podcast it is 50 cr
pre-money valuation evaluates the worth of the startup before it steps out to receive the next round of investment
Pre-Money valuation 50cr. Soon in some days, I will also be applying for my startup, strictly electric
Become a Fan of your series.
Kindly make it available on Spotify too
Pre money valuation is 50 crore. The guy had tough beginnings and then he made it to IIM L and did business inside the campus as well as per my research!
Its makes me confident for not going an MBA ever..Shantanu Sir paise bcha lie mene..I m on the profit side now..😄You are superb sir..
so the founder put the 50 cr valuation but if it is led by an external investor it can go higher otherwise he is settle down at 50cr.
Pre-money valuation is the value of a company before it goes public or receives other investments such as external funding or financing.
Pre-money valuation of INR 50 Crs
50Cr pre money valuation
If there is no sugar, what do they use as sweeteners?
There are brands that are doing sugar free mithai doing D to C up north to answer that bit on sugar free mithai
Epic season guys. Epic!!
Arrrrdeeent fan from walkeshwar days! Castrol was my client and despite the fact that i DETESTED THEM and their horrendous bigoted nasty marketing team and i LOVED the building they inhabited, i used to go happily to Walkeshwar just because i could eat Apsara icecreams and also chat with the cute uncle ji there ( who i now guess must have been Kiran's dad) - Uncle Ji was super cute! One of the stores shut down was near my house in Bangalore! BTW, your bangalore stores are such "susth" places! they dont give a damn about marketing or customers and are SUPER STINGY with their tasting samples! we get a 1/4 of what naturals gives. My memories of Apsara are of the walkeshwar store and though i go and buy on and off, i dont really like the experience - staff too unfriendly and dont care a damn. Sadly same experience in Naturals too but then Bangalore is PATHETIC overall from a restaurant customer services standpoint!
Premoney Valuation is 50cr as per the conversation
If a lead investor come in than he will decide the valuation and dilution can be done based on that valuation
pre-money valuation- higher(50, valuation by an external investor by 30th jan)
Gained lot of value 🎉
The pre-money valuation ask is INR 50 crore
Pre money valuation- 50Cr.
Go zero ice cream is a healthy alternative to high-sugar ice creams.. I think you can have once a week.. it’s little on the pricier side
He is looking for 5cr at 10percentage dilution valueing it at 50cr pre money.
Pre money valuation that the founder has put on his business is 50 crores.
What's wrong with the sound?
Pre Money- 50 crores
Btw Thank You Shantanu! I wait for all your episodes and reels eagerly. Thank you so much.
Can I Shadow CEO you for some days and get to work with and for you?
Pre money valuation - 50 cr
Just to add here.. some people really look for Protein as well.. Being I am vegetarian I always check on all products if there is protein.. Another is wht Shantanu saying for mock meat - thts is for all reasons.. For veg people who wants to protein intake and for others who want to shift from non veg vegan.
Nice
Pre money valuation is the equity value of a company before it receives the cash from a round of financing it is undertaking. Since adding cash to a company’s balance sheet increases its equity value, the post money valuation will be higher because it has received additional cash
50 CRORES - pre money valuation.
I AM MOST NEEDY GIFT HAMPER PERSON.(if you CAN)
- I’m starting up in gift hamper products; this will make your hamper evaluate with other brands.
Although the founder has conveyed a pre-money value of Rs. 50 Crs, considering Rs. 5Crs round for 10% stake would be an implied pre-money value of Rs. 45 Crs.
Sorry brother
I could not understand what was the deal
Maybe I don't have so much knowledge of corporate world
I did not understand the concept? What is this about?
What what is about? His company makes ice creams. Our channel deploys money in return for equity.
Where do you learn all those terms like pre-money, valuation etc etc . for someone who hasnot done an MBA ??
Hi sir
Pre money valuations 50 cr.