- Watch Pitch through Youtube
Twisting Scoops Shark Tank India Pitch:
Twisting Scoops is Asia’s biggest Turkish ice cream chain which appeared on Shark Tank India Season 2 Episode 40. Their Ice creams are made of 100% goat milk. They are also chemical-free and include all-natural Turkish ingredients. To maintain the authenticity of their product, The brand works closely with Turkish suppliers and even hires their workforce to help with the business.
Twisting Scoop’s product range includes Ice Cream, Baklavas, Middle Eastern and Turkish Coffee, Kunafa & Falafel. The company has already opened 30+ stores across 15 cities. The founders sought an investment of ₹1 Crore in exchange for 2.5% of the company valuing the business at ₹40 Crores.
Twisting Scoops has opened their stores in 3 formats, first one is a Kiosk for which they need 100-200 square feet of space. Secondly, they have also opened stores ranging from 250-300 square feet and then they also have Cart models which are mainly deployed at airports. At the time of their pitch, they had 25 kiosks, and 4 Stores and the rest were Carts.
Twisting Scoops has 45+ flavours including rose and pistachio, Lemon, Chocolate, Mango etc. Their ice cream starts at ₹79+GST. The founders shared that they opened their first store in Elante Mall in Chandigarh in 2017. Their current headcount however is at 240 including all their outlet and head office staff. The company was completely bootstrapped at the time of their pitch.
Twisting Scoop’s Financials & Revenue during Shark Tank India:
A single company-owned cart of 140 sqft would cost the company 12-14 lakhs in CapEx. Each of these carts brings in 14-16 Lakhs of Revenue per month. Around 10% of that goes to rent, 30% goes to COGS and Logistics, 20% goes to other expanses leaving them with 40% net margins after all costs. The founders shared that they actually tried doing franchises, but there was too much time spent on maintaining those therefore, currently, they are only opening company-owned stores.
At the time of their pitch, The company was bringing in revenue of around ₹2.5 Crores per month with monthly profits of ₹50 Lakhs per month. Twisting Scoops made a revenue of ₹5 Crores in FY21-22. The founders are hoping to open 150 stores across India, bringing in ₹100 Crores in Revenue.
Twisting Scoops Shark Tank India Negotiations & Funding:
Aman felt like there was nothing he could contribute to this business. Therefore, he went out of the deal. Anupam felt like the founders were doing great, but he could not understand where he could help out. Therefore, he went out as well. Other sharks shared the same perspective there, for they went out of the negotiations, and Twisting Scoops walked out of the Tank without funding.
Who are the founders of Twisting Scoops?
Kunwarpreet Singh Juneja & Manmeet Singh Batra founded Twisting Scoops. They are both childhood friends and went to same schools.
How is Twisting Scoops doing after Shark Tank India?
Our research in the Twisting Scoops revealed that while the company did not secure a deal on Shark Tank India, Their appearance on the show had a positive overall impact on the business. As of September 2024, The company is still in business and Thriving. They have opened several other outlets in the time after their appearance on Shark Tank and they currently have over 40 outlets across India. You can check out their website for more information and click the Amazon button below to check out other Shark Tank India products.
Thank you for supporting the blog as we make small commissions on purchases through the above link.
Here are other companies from Season 2 Episode 40.
1 thought on “How is Twisting Scoops Doing after Shark Tank India?”