- Founder/Owner: Omkar Darekar, Dayanand Darekar, and Sangita Darekar
- Business: Portable Event Hosting
- Ask: ₹2 Crores for 10% Equity
- Valuation/ Networth: ₹20 Crores
- Funding: No deal
- Sharks: No deal
- Episode: Season 3 Episode 30
Chalte Firte Mangalkaryalay Shark Tank India Pitch:
Chalte Firte Mangalkaryalay is a portable hall business which appeared on Shark Tank India Season 3 Episode 30. The hall has a capacity of Chalte 300 people and comes with facilities like air conditioning, a stage, decorations, and lights. The company has hosted over 40 events in their setup. The founders shared that they have over 25 use cases for their product as it can be converted into a hospital, functions, or to host events. The company went viral on YouTube and, in turn, received over 15,000 inquiry calls.
The founders’ vision is to have this portable setup in every village across the country, and to fulfill this, they sought an investment of ₹2 Crores for 10% of the company valuing the business at ₹10 Crores.
Chalte Firte Mangalkaryalay’s Financials during Shark Tank India:
Chalte Firte Mangalkaryalay has a rental price of ₹50,000, which is way cheaper than the alternative setups which can cost about ₹2,00,000. Moreover, For providing food services, the company charges an additional amount of ₹250 per plate. Also, The founders added that they are a first-of-its-kind project in India. Further, Washrooms are accommodated in a different vehicle.
Chalte Firte Mangalkaryalay has been in business for about a year at this stage and hosted a total of 40 events. Also, The founders added that their portability is their biggest advantage and the capacity is their biggest challenge at this moment, which can be sorted by bringing in more vehicles. The total cost per unit for the company is around ₹40 lakhs, which will be recovered in 3 years with current revenue numbers.
Chalte Firte Mangalkaryalay Shark Tank India Negotiations & Funding:
Aman was the first shark to go out due to lack of efficacy per unit for Chalte Firte Mangalkaryalay’s vehicles. Namita felt unsafe while being on the platform; therefore, she didn’t gain confidence in the product. Peyush liked the idea but felt like there wasn’t enough demand, and the founders didn’t get their finances right yet. Vineeta advises that the founders need to wait for expansion until they have a demand for this. Anupam also shared that there was no demand for this product, so he goes out of this deal as well. The company walked out of the tank without the deal.
Who are the founders of Chalte Firte Mangalkaryalay?
Omkar Darekar, Dayanand Darekar, and Sangita Darekar founded Chalte Firte Mangalkaryalay. They are from Latur, Maharashtra. Dayanand has a background in Mandap decorations which led to this idea.
How is Chalte Firte Mangalkaryalay doing after Shark Tank India?
Our research on Chalte Firte Mangalkaryalay revealed that despite not getting a deal on Shark Tank India, the show gave the company nationwide exposure. We also noticed that their events page is no longer available, which is leading us to believe that the company may no longer be in business. Do you think this was a good business to invest in? You can share your thoughts in the comments below. Also, don’t forget to check out other Shark Tank India products by clicking the Amazon Button below!
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Source: Instagram @darekar_events
Here are other companies from Season 3 Episode 30: