Shark Tank Homestrap
In this episode of Shark Tank India Homestrap, a home storage and solutions brand present the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
| Company name | Homestrap |
| Founders | Akash Mehta and Priyanka Mehta |
| Ask | ₹70 lakhs for 1% equity |
Homestrap Founder
Akash Mehta and Priyanka Mehta. They are from Indore. They are husband-wife. They knew each other for 22 years. After their first child their life was becoming very chaotic. So they realize that this is not only their problem but this is the story of every household. Then they started their business with these organizers.
About the company Homestrap
Every wardrobe has its own story in every household. Maximum time wardrobes are unorganized and when we open to choose our outfit all the clothes fall down in front of us. It has been a challenge to keep our wardrobes organized. In order to solve this problem Homestrap was invented which solved this problem. This is a brand which is helping in organizing messy wardrobes. Their product ranges are:
- Saree Organiser
- Shirt stacker
- Clothes Organizer
- Jewellery Organiser
- Shoe Organiser and much more.
They are available on marketplaces like Flipkart and Amazon. They have served 15 lakhs+ customers till date. The average selling price is 505 rupees.
Ask by the Owner of Homestrap
Pitcher asked 70 lakhs rupees for 1% equity.
Homestrap Sales And Revenue
Last financial year the sales were 17 crore rupees and this year the projected sales is 22 crore rupees. In the financial year 16-17 the sales were 2.13 crore rupees, in the financial year 17-18 the sales were 7 crore rupees. The financial year 18-19 the sales were 9 crore rupees. In the financial year 19-20 the sales were 12 crore rupees. For financial year 20-21 the sales were 19 crore rupees. Financial year 21-22 the sales were 19.2 crore rupees. The EBITDA is 3%. For sales of hundred rupees COGS and GST is 45% and the gross margin is 55%. Among gross margin 31% consists of commission and weight handling. 7% is market handling. 8% is rental and salaries. 6% is other expenses and 3% is their net profit.
Offers and counter offers
Anupam offers 50 lakhs rupees for 10% equity and 20 lakhs debt at 10% interest.
Pitcher counter offers 50 lakhs for 5% equity and 20 lakhs debt at 10% interest.
Anupam counter offers 70 lakhs for 10% equity removing the debt.
Pitchers counteroffer 70 lakhs for 6% equity.
Anupam again counters for 50 lakhs in exchange for 8% equity and 20 lakhs rupees debt at 10% interest.
Pitchers again counteroffer 50 lakhs for 7% and the debt structure remains the same.
Homestrap Final deal
The deal was finalized with Anupam for 50 lakhs rupees in exchange for 7% equity and 20 lakhs debt at 10% interest.