On the Tank
Manas Madhu founded the Beyond Snack brand. He had invested ₹70 lakhs till January 2022.
Why started the business?
His father wanted me to do a 9-5 job. However, deep down, he was not satisfied. One day, while traveling, he noticed a large number of spoiled bananas lying in front of a farm. Thus, the notion of incorporating banana chips, a symbol of Keralan culture, entered his mind.
The majority of banana chips on the market are made by local players, and they typically contain spoiled bananas and oil that can last up to two months.
Claiming that their chips are healthy, tasty, hygienic, and of the same thickness. Available in four different flavors.
In just 1.5 years, we have sold 140 metric tons of banana chips.
Shark Tank Recap
- Beyond snack’s Banana Chips are healthy, tasty, hygienic, and of the same thickness. Available in four different flavors.
- Ask:₹50 lakhs in exchange for 2.5% equity, making the valuation stand at ₹20 crores. Used for expansion of trade channels in Mumbai and Delhi.
- At last, Ashneer and Aman together would invest ₹50 lakhs in exchange for 2.5% equity (Valuation 20 crores).
Shark Tank Live
Ask
₹50 lakhs in exchange for 2.5% equity, making the valuation stand at ₹20 crores. Used for expansion of trade channels in Mumbai and Delhi.
Business Model of Beyond Snack
The business is running on both online and offline channels.
Furthermore, getting favorable feedback on Amazon and Flipkart.
Sales and Revenue
In just 1.5 years, we have sold 140 metric tons of banana chips.
Four distinct flavors, including original-style, peri-peri, salt & pepper, cream, and onion, are available for purchase.
They generated ₹20.6 Lakhs last month.
However, original style flavor contributes around 50% of our sales.
They currently maintain a gross margin of 55% through online sales and 48% through offline sales. We strive to reach a 75% gross profit by enhancing the efficiency of our yield.
The startling fact is that 70% of their sales originate from North India.
Through selling chips worth ₹60 lakhs last year, they have generated a profit of ₹6 lakhs (approximately 10% net profit).
Feedbacks from the sharks
Need to work more on pricing. As, ₹60 is too high.
Offers for Beyond Snack
- Anupam and Peyush: Together to invest ₹50 lakhs for 10% equity (valuation: ₹5 crores).
- Ashneer and Aman: Together to invest ₹ 50 lakhs for 2.5% equity and valuation ₹20 crores (original ask).
Deal
Ashneer and Aman together would come for ₹50 lakhs in exchange for 2.5% equity (Valuation 20 crores).
Beyond Snack Beyond Tank tank updates
Beyond Tank constantly provide updates and follow-ups about the entrepreneurs from the day they appeared on Shark Tank India.