On the Tank
Kalpana and Uma jha (Nand-Bhabhi) come from Darbhanga, a small city in Bihar. In this city, people have a deep love for food, particularly pickles.
When their son Neelesh Jha settled down, they encouraged him and gave him some money to start his pickle business, fulfilling their lifelong desire to make a difference. In addition to this, they assisted them in establishing their online presence on various social media platforms, contributing 20% of their equity.
Why started Jhaji Store?
They use a special ingredient in their pickle that is exclusive to them.
In June 2021, they launched Jhaji Store with the goal of bringing this pickle to every corner of the world.
They are spreading the taste of their mother-in-laws and grandmothers throughout India.
Shark Tank Recap
- Jhaji store sells sundried and preservatives free homemade pickles.
- They are spreading the taste of their mother-in-laws and grandmothers throughout India.
- Ask: ₹50 lakhs for 10% equity (valued at -5 crores)
- Deal: As such, no offers were made to them.
Shark Tank Live
Ask
₹50 lakhs for 10% equity (valued at -5 crores). To meet the growing demand, expand our Mithla dish offerings, and establish warehouses in Delhi, Bombay, and Kolkata.
Business Model & Sales of Jhaji Store
Currently, they only sell the pickles online.
They have served 2500 customers in these three months. Generated a revenue of ₹5,14,000 in the last month by selling in Delhi and NCR only. 15% of the revenue comes from returning customers.
Unit Economics of Jhaji Store
Having an average order value of ₹600.
₹180 is spent on advertising, ₹140 on courier,₹170 is the cost of making and the remaining ₹110 is their gross margin.
Feedbacks from the sharks
The name is amazing, as people can relate to it.
All three Anupam, Namita, and, Vineeta said the pickle was amazing.
Neelesh must come to the front.
Deal
As such, no offers were made to them.
Jhaji store Beyond Tank tank updates
Beyond Tank constantly provide updates and follow-ups about the entrepreneurs from the day they appeared on Shark Tank India.
After the pitch went on air, they got orders worth ₹25 lakh in just one day.
Later, Namita, Vineeta, and Jharkhand angels came together to give ₹85 Lakhs for 8.45% equity (valued at ₹10.06 crores), double the valuation demanded during the pitch.
Moreover, they said this will motivate and encourage other women and children.