- Founder: Anubhav Jain
- Business: Lemonade
- Ask: ₹40 lakhs for 8% Equity
- Valuation/Net worth: ₹5 Crores
- Result: ₹40 lakhs for 20% Equity
- Sharks: Ashneer Grover, Vineeta Singh, Aman Gupta & Anupam Mittal
- Episode: Season 1 Episode 35
Jain Shikanji Shark Tank Pitch:
Jain Shikanji is a popular lemonade brand that has been around for over 64 years. It was founded in 1957 by Anubhav’s grandfather who started this at a small kiosk. The company has a monopoly in the industry, and their products can be found on Amazon. They have produced Instant Jain Shikanji, a pre-mixed Shikanji powder, and a variety of other items such as chaat masala, chai masala, thandai masala, pickles, and more. Their hero product is Shikanji Masala, which includes secret ingredients. The company wants to expand its kiosks all over India.
To date, the company has served nearly one crore customers. In the fiscal year 2020-2021, revenue totaled 25 lakhs rupees. Tourists who pass by their shops are their most significant consumers. The company is valued at five crore rupees. The company is divided into two parts, and Sharks are getting a deal in a new company registered by the name of HBMB Pvt Limited. Their capacity is between 3-4 Crores of annual revenue.
Jain Shikanji Shark Tank India Negotiations:
Sharks loved the product but were confused as there are many brands and outlets operating under the name of Jain Shikanji. They raised concerns about how they can compete with people using the name, including restaurants and small vendors. Sharks also pointed out that the company needs to focus on their pre-mix as that area has no competition. Namita also pointed out that a product sold in Ahmedabad under the name of “Hajma Hajam” has the exact same taste as Jain Shikanji pre-mix.
Peyush believes that the product is strong. He adds that the company should focus solely on their pre-mix and make it a household name by improving packaging and marketing and selling it online. Although he couldn’t commit enough time, so he steps out. Namita agrees with Peyush and suggests that this could also become significant in the export market, but she steps out of this deal.
All other sharks were interested in the deal, so Aman suggested that they should talk before offering anything. Gazal Alagh adds that she believes in the products but she goes out of the deal due to her concerns about family disputes. Vineeta says that the company needs clear documentation from the family about the name’s clarity. They offer 40 lakh rupees for 30% of the company. Anubhav takes a moment to think and comes back to accept the offer.
How is Jain Shikanji doing after Shark Tank India?
Our research on the company revealed that the deal with the sharks never closed after the show. While the reasons for this are still unknown, it seems like the company did follow the feedback provided to them in the Tank and shifted their focus a bit. As of October 2023, the company is focusing a lot more on online marketing and sales. In addition to that, instead of opening their kiosks, they have shifted to a franchise model. Some sources suggest that the franchise fees are around 20 lakhs, but this has not yet been confirmed.
Who is Jain Shikanji’s Founder?
Anubhav’s grandfather opened Jain Shikanji in 1957 as a small Kiosk. He hails from Modinagar, a small town in the state of Uttar Pradesh. Anubhav has worked in production for two media outlets in his past work experience and was also working for another family company before becoming the CEO of HBMB.
Source: Jain Shikanji Instagram
Here are updates on other companies from Season 1 Episode 35!