‘Ford failed in India, but Hyundai worked; why?’ Namita Thapar hits Shark Tank India pitchers with difficult questions

Also read – Shark Tank India pitchers confess to tax evasion of crores, Kunal Bahl cancels deal: ‘I can’t trust you’

But Anupam wasn’t sure about their business model. He advised the cousins to give their business another couple of years and see where the opportunity lies. He also advised them to focus on expanding in the United States. “You’re being opportunists,” he said. Kunal Bahl agreed, and said that he can’t see much clarity of vision, and backed out of the deal. He did, however, admit that he was interested in the business, but advised them to not get distracted.

Namita Thapar expressed her views via an example. “Why did Ford and GM fail in India while Hyundai and Kia succeeded?” she asked them. Hemant said that it was probably because of the costs. “Wrong. Ford failed and Hyundai succeeded because Ford thought that doing a copy-paste job in the Indian market would be enough. But Hyundai and Kia actually took the time out and studied the market,” she said, noting that they can’t replicate what worked in the US in India. My biggest concern is that you live in the US, and you want to copy-paste what works there in India. I’m excited about health and fitness, but you’re all over the place,” she said, backing out as well.

Aman was the only ‘shark’ who was interested in making an offer. But he had a couple of conditions. He wanted the entrepreneurs to commit to creating a club within two months, and wanted Hemant to spent at least six months in India. He offered them Rs 80 lakh in exchange of 5% equity, and asked for 1% in royalties until he makes his investment back. The cousins took a moment to consider the offer, and countered by offering Aman 6% equity, but asked that he lower the royalty ask to .5%. Aman felt it was fair, and they agreed on the terms.