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Shark Tank India Season 4, currently streaming on Sony LIV, recently featured an entrepreneur from Indore asking for investment in his hair care business. He claimed to produce only natural products that assist in stopping hair fall. The entrepreneur, Bharat Khatri, asked for Rs 50 lakh for 2 percent of his company, but it was the logo of his brand that became a topic of discussion. Aman Gupta felt that the logo resembled a cannabis leaf, an observation that the founder seemed to be confused by.
Aman wondered aloud that the logo looked like a cannabis leaf, and said, “Bhaang, ganja ped hota hai, uski tarah.” Anupam Mittal asked, “Ganja jante ho? Phoonkte hain jisko. Uska ek plant hota hai, jante ho? Yeh usse milta julta hai. Yeh jaanbhoojh ke kia hai? Yeh puch rahe hain? (Do you know cannabis? The thing you smoke. It comes from a plant, do you know? This looks like that. Is that intentional? That’s what he is asking.)” And the pitcher promptly said no.
Bharat then proceeded to explain his business where he sells different kinds of hair care products. He claimed that he had built his business on just Rs 22,000 debt against his credit card, and said that he had had Rs 5 cr in sales in the previous financial year. When it seemed like all was going well for Bharat as he had solid sales to back him up, Anupam started questioning his qualifications, and the science behind the product. This led to a heated discussion where the entrepreneur admitted that he did not have any qualification in Ayurveda, but had an AYUSH (Ayurveda, Yoga, and Naturopathy, Unani, Siddha, and Homoeopathy) license.
Kunal Bahl then stepped into the discussion and said that he believed Bharat and what he was doing, but since the company was a proprietorship, he could not invest in it. He asked Bharat to contact him when he converted it to a private limited company. Peyush Bansal was quite impressed with the customer reviews of the company and presented an offer for Rs 50 lakh for 10 percent equity, in addition to 2 percent royalty until he gets 2x the amount he has invested. Bharat gave him a counter offer without the royalty but this was unacceptable to Peyush.
After the pitcher left the stage, Anupam and Kunal had a chat about the product and the entrepreneur, where Kunal said that a lot of home remedies have been passed down generations, which is why, many people using those remedies don’t really how they work. But Anupam said, “When you package ghar ka nuskha and sell it in the market, then you have a responsibility to do it responsibly. I am sorry to say but I felt this was complete quackery.”
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