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Shark Tank India 5 4th March 2026

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Fun
Transcript
00:30We have made a business in our business and made a business of 3 crore profitable.
00:35Nice.
00:37F2 Fintech, an AI power digital lending solution.
00:40I have to send you one time to a sales meeting.
00:43Fantastic, what a salesperson.
00:45It was fun.
00:50Luzo is a beauty and wellness app where customers can discover and book salons, spas and skin clinics.
00:57In 4-5 seasons, this is one of the brightest ideas where you have made such an interesting execution.
01:18I am originally from Croatia, I have been living in Bangalore for the past 8 years.
01:25After I had my son, I realized that as much as I loved Bangalore, Bangalore with small kids sucked.
01:31There was nowhere to go, there was nowhere to take him and there was no infrastructure to just kind of
01:36pop him in a stroller and go.
01:37As we all remember, 2020 and 2021 were very stressful and scary years.
01:44I was lucky that work at that point was still online and still remote because of COVID.
01:49But it really made me think, what happens once it stops being remote?
01:53Where do I go? What do I do?
01:55There is a baked in assumption that someone's career is going to take a step back for the first 3
02:00years of a child's life.
02:02And that someone is almost always a mother.
02:04We've been raising women to be ambitious and to have it all, but we have not given them the structural
02:09support they need to actually be able to have it all.
02:12And this is why I have started this business.
02:39Namaste sharks.
02:40My name is Tena Pig and I am from Bengaluru.
02:43Today I have a very important question to ask you.
02:47Choose one, career or kids?
02:53Good.
02:55Kids, kids.
02:56100% kids.
02:59Well, now you don't have to choose because Koro is the future.
03:03Every parent you know is burnt out.
03:06Offices don't work for families, play areas don't work for adults and juggling both, it's a losing game.
03:14Koro is here to solve this.
03:16A family first hub, a co-working space, cafe, community and a play area designed so that both parents and
03:24adults can thrive.
03:26Koro is both playful and professional, built for the realities of modern parenting.
03:30According to our research, there's 3.5 crores urban families in India and no one is serving them.
03:38This is why we are creating a brand new category of infrastructure.
03:42Today, I'm asking for 2 crores for 4% equity to scale Koro across South India.
03:48Together, we can change the way Indian families work, play and connect.
03:54Welcome to Shark Tank.
03:56Thank you so much.
03:57Congrats for picking a pain point, because this is definitely a pain point for every mother and father.
04:03Exactly.
04:03And I think big credit to some people in Bangaluru who keep talking about 70 hour work weeks.
04:09So I'm glad that, you know, people from Bangaluru are coming up with a solution to that as well.
04:15Yeah, absolutely.
04:15And I think you touched the point, a very important point.
04:18Yeah.
04:18It's for mothers and fathers, right?
04:20This is not a gender specific space.
04:22This is not a mommy's co-working space.
04:25It is for parents.
04:27Help me understand as a consumer what my journey is.
04:31Koro spread across two floors.
04:33The first floor where you're going to be checking in with your child is the play area and the cafe.
04:37There are always play shapers on the floor.
04:40We are not a replacement for childcare, but your nanny, grandparents, the whole family is more than welcome to be
04:47with the child on the floor.
04:48Once you check in, you are more than welcome to go to the coffee shop, grab your coffee, grab your
04:53snack.
04:53In the meantime, the child is going to start engaging with one of the touch points on the play scape.
04:58In the meantime, you're going to go upstairs because parents need space and quiet.
05:01We have reading nooks, we have traditional meeting rooms, we have quiet zones.
05:06So how you want to engage with the space is entirely up to you.
05:09And you will be either a member or a pass holder, right?
05:13And depending on that is how heavy the usage of the space is going to be.
05:17Could you tell us something about your own background?
05:20Clearly, it doesn't seem like you were born in India.
05:23So shockingly, I'm not from India.
05:27I'm originally from Croatia.
05:29My husband is from Chennai.
05:31We met during our masters in London.
05:33I moved to Bangalore seven years ago.
05:36Loved it, really enjoyed living in Bangalore.
05:38And then I had my son during Covid.
05:43And then what, right?
05:44I went back to work when my son was three months old.
05:47And I was lucky to be able to go back to work because it was still online.
05:50But even with all of the support, I still fell apart, right?
05:54Because there is simply lack of infrastructure for families as a whole to go to.
05:59Then I started talking about what would this actually look like.
06:02At the same time, my partner and designer and the architect behind the space, Bhavna Kumar, was thinking about the
06:07same thing from an architectural perspective.
06:09So we came together and then Koro was born.
06:13And when was this?
06:14So Koro opened fully in February of this year.
06:18Is Bhavna part of the company now?
06:21Yes, so Bhavna is our head of design.
06:22And as such, she holds several percent of the equity.
06:26What is the capacity?
06:27How many people?
06:28100 seats.
06:29So when you say 100, that's floor one and floor two.
06:32Yeah, so that's the second floor.
06:34On the first floor, we are actually using American standards of how many children per square foot.
06:39So how many is that?
06:4080 kids at the same time.
06:41So 80 for the first floor, 100 for the second floor.
06:44Exactly.
06:44Do you have something like a minimum guarantee that any person who signs up has to sign up for a
06:49month or two months?
06:50Yeah, quarterly.
06:50So we also have a membership sign-up fee of 25,000 rupees.
06:55Okay.
06:55Which is paid in advance for cash flow and for sustainability reasons.
06:59And then the residents play only and off-peak memberships are charged quarterly as well.
07:05Does it work for full-time working moms?
07:07Because for a mother, even the smallest of requirement, if the mother is at home,
07:12especially when the kid is in the one, two, four, five, seven age group, there is just too much distraction.
07:18And there is a lot of research now that having distracted work leads to more stress at work as well
07:28as you're not fully able to be present as a parent.
07:30Absolutely.
07:31You hit the nail on the head, Vinita, and this is actually really was the problem statement.
07:35First, this is why two floors.
07:37Number one, spatial separation is super important.
07:39You're close enough.
07:40We're fully CCTV'd.
07:41You can see your child.
07:42They can't see you.
07:43Secondly, nannies are welcome.
07:45They're also included in the membership, right?
07:47So there is that comfort of the child having a familiar person, being the father, a nanny, a grandparent.
07:53Chenna, nannies are welcome or nannies are required?
07:57For smaller kids, they are.
07:59So we do not do things like diaper changes and toilet runs for safety and security reasons.
08:04How big is the space?
08:056,500 square feet.
08:073,000, 3,000.
08:083,000.
08:09And how much does it take to make the outlet that you have?
08:12So the capex for Koro was 2 crores.
08:14How much does an average member pay per month?
08:1720,000.
08:18And what do they get?
08:19Like, is it unlimited usage?
08:21Unlimited usage, Monday to Saturday, including all of Koro events.
08:25Our afternoon clubs, which are in-house.
08:28Discount to outsource events with third partners.
08:31Discount to our summer club, Ushera Camp, Siwali Camp.
08:34And then also different kind of perks.
08:36Both like husband and wife or only one of them?
08:38Two caregivers.
08:39Could be a nanny.
08:40No, no.
08:41Two caregivers, two primary caregivers, one nanny and one child.
08:44Do you provide refreshments, et cetera?
08:45Because that is a cost and a benefit.
08:47Yeah, so we have a full-fledged cafe downstairs, which is not in-house, by the way.
08:51And then upstairs, we have a pantry where coffee, tea, snacks.
08:54Is that free?
08:55Yes, exactly.
08:56The pantry upstairs is free.
08:58Tenna, I would actually like to share my own experience.
09:01I mean, I have a three-year-old right now, right?
09:03And he has school which starts at 9 o'clock, right?
09:07So 8.30, we leave home.
09:108.45, I drop him.
09:129 o'clock, his school starts, right?
09:13Now 9 to 1, right, is when his place school is, right?
09:17And actually, I leave by 12.30 and pick him up from school, right?
09:20And then come back and drop him.
09:22I'm actually getting four hours of absolutely clean work time, which I could have spent anywhere.
09:28I'm not finding where is the need, right?
09:32There might be desire, which is very different, but where is the need?
09:36I have an older son as well.
09:38I still, he's done with school at 5.
09:39I'm not done with work at 5, right?
09:41It's not four hours.
09:42I need 12 hours.
09:43I need 70 hours.
09:45So then, where do we go?
09:47I used to work from coffee shops all the time.
09:49At the end, there's only so much flat whites you can consume in one day, right?
09:53So if I'm already spending this much per day, then I'd much rather spend it in a very design-forward,
09:58beautiful space.
09:59What is the actual usage of the paying members?
10:02So we're at about 60% occupancy on day-to-day basis.
10:06Members spend between, I would say, four and six hours a day.
10:10We have very few members who spend eight hours a day in the space.
10:13When they spend those hours, it doesn't always mean it's a chunk of time.
10:17We get a lot of time when we come in the morning and then come in the afternoon.
10:21Especially members who still have, who are working US hours or who have smaller kids and they come later in
10:26the evening as well.
10:27So considering Bangalore traffic, what is the catchment area of each Koro and what are the operational hours?
10:34And how many Koro's will be needed to cover only Bangalore?
10:38We're open from nine to six, Monday to Friday, ten to four on Saturdays.
10:42When I say nine to six and ten to four, that's very strict on the first floor,
10:45because obviously children need supervision.
10:48However, second floor is flexible.
10:50You have calls late at night, you're coming in at 8am.
10:52Very, very flexible.
10:54Our catchment area is basically Kora Mangala, Indranagar, Domlur.
10:58How many Koro's in Bangalore? I want three more in Bangalore.
11:01I want north, south, east.
11:03But it's two crores to set up one place.
11:05So the money you'll take from us today will set up one more place.
11:10If you can share both the operating break-even as well as the payback.
11:14Yep, of course.
11:15So this centre has been bootstrapped.
11:16We are going to break even on CapEx in two years.
11:19We are breaking even on OPEX currently.
11:22Our monthly expenses are 9.9 lakhs.
11:24So you're right now making about 1.8 crore and you're spending about 1.2 crore.
11:30So you make about 60 lakhs.
11:32And then there's stacks, et cetera, et cetera, right?
11:35Yeah.
11:35Are you break even because you're collecting this 25,000 membership fee up front?
11:39Or are you break even if you amortize that 25,000 fee over 12 months?
11:44So the membership fee is 40% of our total revenue per month.
11:48Ah.
11:49The other revenue comes from events, space as a service, subletting the space for shoots,
11:55birthday parties, cafe, retail, and so on.
11:59I just want to again clarify.
12:01You mentioned we are 60% occupancy.
12:03Yes.
12:03So I'm assuming every month you're getting paid for 60 members, 20,000,
12:0812 lakh rupees every month, or that's not happening.
12:10It depends on a month-to-month basis.
12:13So it depends a little bit.
12:15So 60% occupancy is constant.
12:17However, because we had to stop the bleed, obviously,
12:21because it's such a Capex-heavy business,
12:22we've introduced the pass bundles,
12:24which means that you can buy a 10 pass, you can buy a 15 pass bundle.
12:28Then there's no minimum.
12:30Just tell us, September, what was the membership revenue?
12:33September membership revenue was, we had 16 pass holders, like I said,
12:38which is at 11,000 per pass holder.
12:41Okay.
12:4120 resident members.
12:43And then we also have about five play only members.
12:47So there were about total 41 members in September.
12:51Who paid you for September?
12:52Exactly.
12:52On average paid 20,000 or they paid about 10,000 to 15,000 on average?
12:56They paid on average 18,000.
12:57At which point you're making a certain amount of EBITDA per outlet or per center?
13:0545 resident members for this particular center.
13:08How much revenue would that be and what would be the bottom line?
13:10So the top line with that would be about 20 lakhs a month.
13:14And the bottom line would be 10 lakhs?
13:16Yes.
13:17At that point the payback period will start because right now we have a break even.
13:20Exactly.
13:21And it will take from that point, it will take about two years for the payback.
13:25We should be reaching an EBITDA of 40% next year if we open two more centers.
13:30I think you're approaching your pilot incorrectly.
13:35I think you're going into your pilot assuming that at 20 lakhs with 45 members, you're going to be the
13:44ideal profitable business.
13:48The problem with this assumption is that at 100 members, which is 100% utilization, which is very hard for
13:55real estate business to get to.
13:57That is when you actually make 20 lakhs because otherwise you're scrambling for revenue from these events and, you know,
14:04ad hoc things, which makes you a real estate business.
14:07It is not then about the work, play, connect.
14:10The other challenge is that this is a place where only privileged people can afford because you need a nanny,
14:18of course, to keep the child busy.
14:1920,000 a month is more than a WeWork, which is like the most premium co-working space.
14:26With that, you are automatically capping out the number of people in an area who will be able to come
14:32here.
14:33I think it's very niche to be investable. So for that reason, I'm out.
14:36But I wish you the best.
14:38Perfect. Thank you so much.
14:40So firstly, you know, I think it's needed in India.
14:43What I'm struggling with the most is the lower occupancy.
14:48I think there is some product market fit issue here.
14:53What I would highly recommend, start with one, go really deep in that, build the occupancy, the word of mouth,
15:01the buzz, the aspiration.
15:02There should be a long waiting list, you know, it should be the most coveted thing.
15:07And then you start scaling. So I think it's a bit early to raise money, show the proof of concept.
15:12And so for today, I'm out.
15:14Thank you so much.
15:15You started when you felt you had a need.
15:19But the next process in that journey is actually talking to a hundred people like or unlike you.
15:26And trying to understand if that need resonates with them as well.
15:32I don't think the PMF is fully achieved while the space is sort of, you know, good.
15:38I would like to be out today, but all the best to you.
15:41Thank you so much.
15:42As an investor, what scares me in a metropolitan, which is as intense as Bangalore, the occupancy is too low
15:51for my liking.
15:54So for today, I'm out, but wish you all the best.
15:56Thank you so much.
15:58I think it's a nice to have today.
16:01I don't think it's an absolute need to have for the customer you're going after.
16:05If it were to go away, they will miss it a little bit, but maybe not a lot.
16:11Unlike how people may miss a WeWork, like there is just no other place to go work for them.
16:18I do have an idea for you.
16:21Which is, I think your core skill lies in this design principles, thoughtfulness, the service element, the management element.
16:29Does it make sense, possibly, to collaborate with some large real estate companies?
16:35Absolutely.
16:36To say, hey, I will build a Koro for you so that your capex goes away and you can be
16:43on a management fee with them.
16:44Similar to how hotels are managed by companies.
16:46Today I am out, but wish you all the best.
16:48Thank you so much.
16:49And just to tell you, for me, the most important thing today was that you've all noticed how much care
16:53has gone into it, and that's the most important thing.
16:55So thank you so much.
16:55And we are rooting for you, Tena.
16:57Thank you so much.
16:58Wish you all the best.
16:59See you soon then.
17:00See you.
17:00See you.
17:03The sharks were absolutely right.
17:05It was a little bit early in our journey.
17:07However, they got the idea.
17:08They really appreciated the care and the passion that went into it.
17:11And that's all I could have hoped for.
17:13You guys are watching the show, right?
17:15Your brother is watching the show.
17:16Every news is for me.
17:18Every news is for me.
17:18And because of Canva, it's for me.
17:19And with Canva's highlight feature, there is a recap.
17:23Drama or data, Canva makes a lot of style.
17:26See the details and drama only on the daily Canva report.
17:44The pictures, hope and ideas have come in.
17:47The sharks have come in with their checkbook and pen.
17:49And I will also take this show for you.
17:51Welcome to Shark Tank India.
17:53Co-presented by Canva and OPPO.
17:55Co-powered by Lahori Zira and Crunchyroll.
17:58Partners Rezone Solar.
18:00Fixderma.
18:00Phone Pay Payment Gateway.
18:02White Gold.
18:03And Sophie.
18:05Best more energy.一次
18:05and final signal Music.
18:26Pitts.
18:26Scour. Discounts,
18:28Discounts.
18:29Yuck Sóch,
18:29Descounts ki
18:30barish o'ree
18:30hiya, Shaks's Barish.
18:32It's raining discounts on the Luzo app.
18:35Your seven nearest salons, spas and skin clinics.
18:38Download the Luzo app now.
18:41We know, we know, tip top for the salon,
18:44there is no doubt that there is no appointment or discount.
18:48So, paler and auntie run away with your lover.
18:52Don't forget, hair wash.
18:54You don't have to reach the salon or you don't have to reach the slots.
18:57Hello, Sharks. I am Nikhil Kalwani from Mumbai and with my co-founders, Anur Avdave and Manjaitli.
19:05We have brought Clarity with Luzo.
19:08Luzo is a beauty and wellness app where customers can discover and book salons, spas and skin clinics.
19:15And they get exclusive offers and discounts.
19:18Basically, customers get discounts and partners get customers.
19:22The relationship is packed and discounts are all.
19:26Sharks, self-care is now in the market and we want to become a king.
19:32That's why our ask is for 1 crore rupees for 1% equity.
19:37So, Sharks, invest in our tip top boys so that we can make India glamorous.
19:41That's also on discount.
19:44Nikhil Maan Anurav, welcome to Shark Tank season 5.
19:48Tell us a little bit.
19:50I met Anurav and Manjaitli at HR college in the 11th grade.
19:55I had a bachelor's in financial markets.
19:59I was born and brought up in Mumbai.
20:01After 12th grade, I chose to do 5 years of law.
20:05But Luzo started before I completed my degree.
20:08I was working in full-time Luzo.
20:11My family has a salon franchise.
20:14The first franchise of B.Blend actually.
20:16Oh, nice.
20:17And as soon as 12th got over, I joined my mom in business.
20:20Then we decided that we will start our own brand as well.
20:23And we opened two stores in a girlie and a mallard.
20:26That started in January 2020.
20:27But due to COVID, we had to shut it down immediately in two months.
20:32So, when they told me that it was a bad time for my family, it was a bad time for
20:37him.
20:38I told my mom, my mom suggested that there is no app in this industry that helps the salons in
20:46building a business.
20:47So, with their mom, we shared the feedback about what you would like, auntie, you will use this app.
20:53And she said, we will definitely use it.
20:54And that's how the idea for Luzo was born.
20:57There are three things in these apps.
20:59One is the demand generation, the second is booking management, appointment management and the third is CRM.
21:05Correct.
21:06So, what does Luzo do in this place?
21:08We are giving customers only demand.
21:10Lead generation.
21:11Yes.
21:12Lead generation.
21:13Please tell us from the consumer's angle, why they download it and tell us from the salon's angle.
21:18Our app is the Google Play Store and Apple App Store.
21:22And currently, we have completed 4,50,000 signups.
21:25And they have completed at least a transaction.
21:27That is 70,000.
21:29Okay.
21:29So, Vinita and Namita, I will request you all that you would suggest what you would like to book.
21:34Hair Botox.
21:35Sure.
21:36Just a second.
21:37A search is not a feature.
21:40So, search is not within the services.
21:43But this is a good suggestion that you will search.
21:45Who will scroll so much?
21:47Absolutely.
21:48Feedback taken.
21:48So, as you can see, Botox is available.
21:52We will select it because the hair density is different.
21:55So, prices vary.
21:57So, we also give customers an idea.
21:59Add it in a cart.
22:01Namita, for you?
22:02Pedicure.
22:03Sure.
22:03So, we will go with the first one.
22:04Be blunt, pedicure.
22:06Date selected, time selected.
22:08So, if you are a first time user, we give you 40% off.
22:13There will be a cap, right?
22:14No cap.
22:15Wow.
22:16If there is a specific service provider in your salon.
22:19Correct.
22:19Who I want.
22:20Absolutely.
22:21How will that happen?
22:22As you can see, there is an option.
22:25So, I can ask for a stylist's name.
22:28Exactly.
22:29And if it is unavailable, then?
22:30In the time of booking, we give customers three slots to select.
22:34So, that just in case they are not comfortable slot, they can be called to reschedule.
22:39This appointment is requested by our salon partner.
22:42They will connect with you to confirm your appointment within 15 minutes.
22:45Now, your mind, whatever you want to do, you can do that.
22:48At the end, when you come to the billing counter, then open the profile and click on the Pay Bill
22:53button.
22:54When your bill is 10,000.
22:56Next page, as you can see, when you have selected your offer, it looks like an easy diner.
23:01Yes, easy diner diner.
23:03Customer journey is exactly similar.
23:05If you book it, you want your job and click on the bill app.
23:09This is a very high-touch business.
23:12Correct.
23:12Usually, not just with a salon.
23:16In fact, we see that when a senior stylist in the salon, if it is your attrition,
23:22then 50-60% of their business is also going with them.
23:27So, I don't understand this discovery piece.
23:30Because you don't open and look for these.
23:34Most of the salons that are running today are running at 50-60% capacity.
23:40There are a lot of customers who are shy to go to Biblant because of the price.
23:44The price entry point is a little bit.
23:46But with this slight offer, it comes to entry point.
23:50And this discovery is a very new consumer base.
23:53Because for a salon, that biggest discovery channel, to increase capacity from 55 to 70,
23:59is only that I can add some ads on Instagram.
24:02The second option is that I can add a board out of the salon.
24:05And that is why our vendor attrition rate is only 3%.
24:08How many on-board are you?
24:09Currently, we have 1,600 vendors.
24:111,600 from how many cities?
24:13Mumbai, Bangalore, and Delhi.
24:15In your business, if there are 100 bookings in one day, how much is the happy flow?
24:21In which one book is the slot and the location, they get that one.
24:27Without any intervention.
24:2955%.
24:30That's not good.
24:31That's not high.
24:34Our industry is a single industry, where there are multiple seats available in the salon.
24:39Someone does a haircut on one chair or a hair color.
24:43And for example, if we use a hair color, it is a service for about 4-5 hours.
24:48But one stylist is not continuous in 4-5 hours.
24:51In the appointment scheduling software, the stylist is blocked.
24:54But the floor manager can know that after applying a hair cut in the beach,
24:58he can also do a haircut.
25:01Even B-Blunt uses Zenotia, if you try to book an appointment,
25:04it is never going to be a jaw-dropping experience.
25:07Because as you select a service, this service with this stylist,
25:10you won't book multiple services.
25:12Because for the same time, same stylist, different services,
25:15it is impossible to do.
25:17But Anurag, that explanation doesn't help you.
25:19Of course, I agree with you.
25:21Yeah, actually.
25:22Because it shows the complexity.
25:24Absolutely.
25:24And which is why I feel, you know, the biggest proposition for the customer is
25:27that I have to go to the salon.
25:28I have to go to the salon.
25:29You don't have to go to the salon.
25:30You don't have to go to the salon.
25:31You don't have to go to the salon.
25:32I might as well get something that benefits me.
25:34I have to go to the salon.
25:36You don't have to go to the salon.
25:37You don't have to go to the salon.
25:37You don't have to go to the salon.
25:38Is it common or everyone is different?
25:40Everyone has different.
25:41You have to have a different type of salon.
25:47Have you ever thought that you give them that part?
26:00No.
26:00Then they realized that they made software. They had literally 90% market share and 100% market share on
26:06the booking management of theatres.
26:09So they had real-time visibility, which ticket, which seat, which theatre, which movie across the country.
26:15They layered the booking engine above it. If it doesn't go down, there was no value of booking engine.
26:23The software market is very fragmented and it is a price war at the moment in India.
26:29Our first mode was to give customers to salons.
26:33Their customer loyalty will increase.
26:36Once the customer loyalty increases, then we can think of backward integration,
26:40where we also see their appointment management system.
26:43So that we can deliver this customer experience to our consumers.
26:47I am sure you are charging something to the salon, right?
26:50If you are charging something to the salon,
26:53and if you are interested in that the stylist can directly engage with them,
26:57then they can also save you.
26:59So that possibility is very high.
27:02And then why would they need to lose you?
27:03Which is where the loyalty question sort of here I want to understand.
27:06So, like today I have done hair cut and hair colour at Bee Blunt,
27:09but tomorrow I want to go for my nail extension.
27:12So I will go to, say for example, an enriched salon or a look salon.
27:16So, as you have seen, I got 20% cash back that I can use for my nail appointment.
27:20When I bill this cash back, I will get back here.
27:24And I can also use it in spa or in clinic appointments.
27:27They don't have to be loyal to one particular thing.
27:30They are loyal to the app.
27:32And when they want the money, the services,
27:34they can do whatever they want.
27:36They can do it.
27:36In the revenue model and business.
27:40We actually buy their memberships from salons.
27:43For 9,000 rupees service,
27:45we pay them up front for 5,000 rupees.
27:48This ranges from salon to salon, brand to brand.
27:51But we have 3-4 standard.
27:53And the discount on average from all salons is 37.1%.
27:58We pay our customers 24-25%
28:01and where it is 12-13% is our gross margins.
28:05How do you see P&L?
28:06In the audited P&L, 9.9 crores was our revenue.
28:11Which is the GMB?
28:12No, that's the revenue.
28:13GMB is about 12 and a half was the GMB.
28:16Which year?
28:17FI 24-25.
28:18Let me tell you the 26th.
28:20As of date, we covered 8.5 crores.
28:24How much is this P&L?
28:26Last month was minus 6%.
28:28This month it's minus 2%.
28:31How will this year end?
28:3224.
28:3324 crores and a bit?
28:351-1.5% negative.
28:37And last quarter would be positive.
28:382-4 will be positive.
28:39And tell us about your cash flow.
28:41Because you're saying you're an upfront advance.
28:43Your working capital will be very heavy.
28:45Yes.
28:45So at the moment, 3-3 crores in working capital.
28:491.8.
28:50Okay.
28:50And why don't you renegotiate them to do a percentage revenue share rather than this model?
28:58The biggest reason to this is control of the marketplace.
29:01Like you'll see other food apps.
29:03You'll probably get a offer on Diwali or New Year's.
29:06But if you're a loser, you'll also get those offers on Diwali.
29:10And we'll also get those offers on New Year's.
29:12So you'll also get those with money.
29:13So you'll be committed to it.
29:14Exactly.
29:15Because if you've committed to it, you've sold your inventory, then your sale is done.
29:18And now we can sell it whenever at whatever price we want.
29:21When there will be 20,000 outlets, it will increase.
29:24The main thing is that our inventory turnover will take us under 12 days.
29:29Correct.
29:29Okay.
29:30Because at inventory turnover under 10 days, when our gross margin is about 14%,
29:36we'll rotate the same inventory in a month three times and make 42% gross margin.
29:42What is your vision for the next two years?
29:45Within the team, we've made a three-year plan.
29:47Wherein, you know, for FY29, we want to hit 500 crores in revenue.
29:52For this, our simple map that we want to do is we want to onboard 10,000 vendors onto the
29:56app,
29:57which we want to give only one appointment per day.
30:00And with an average bill value of roughly Rs. 1250, we'll be able to hit 500 crores in revenue.
30:06I'll tell you what the issue is.
30:08This app works well with only Tier 1.
30:10Correct.
30:11And even in Tier 2, you will have issues.
30:13Because this is such a complex business, like we've told you, the stylist availability,
30:17the peak, non-peak, you know, making sure the inventory, working capital.
30:22I have no doubt that you will reach 100-150 crores.
30:28But after that, I'm not getting the confidence that you will scale to a point that as an investor, I'll
30:34get an exit.
30:35And for that reason, I'm out.
30:37But, you know, kudos to you. 20 crores is fabulous.
30:40Thank you so much.
30:45Thank you so much.
30:50Thank you so much.
31:21My problem is that my expertise in this area is very less.
31:25You can see the three good founders.
31:27I would love to associate with you.
31:30If Kunal is investing and he will have me.
31:34To build a job-dropping customer experience in this business, you have to own a back-end.
31:40We can build a job-dropping customer experience if we grab a good land.
31:45Right.
31:46Before that, anyone can come.
31:47Okay.
31:48It will be the same.
31:48Other people will see it.
31:49But it's easy to do it outside.
31:51Everyone will sign up.
31:52Everyone will go out to the salon owner.
31:55But you have to join a good brand.
31:57But what is it?
31:58The financials are a little misleading.
32:01You have made your valuation of your 20 crores.
32:06Correct.
32:07I can't do that.
32:09I think that your commission income is give or take 3-4 crores.
32:15Correct.
32:16In that commission income, 10x is a very good multiple.
32:21So, I'm going to invest for 1 crore for 3% for 3%.
32:26I and Viraj, if this offer is further, we will discuss how to split.
32:31Thank you so much for sharing that offer.
32:35I know that the job-dropping experience is not going to come.
32:40Because the time and availability of the stylist will be very tight.
32:46That is your friction.
32:48And if I give this offer, I don't give this offer as much as Kunal is giving.
32:53He is still being more kind.
32:54That's why I am also out.
32:56But good meeting you.
33:10So we asked him.
33:12What was the valuation?
33:14The last valuation, which was 6 months ago,
33:15was at 60 crore pre-money,
33:1863 crore post-money.
33:20So we would love it if you could come at the same valuation,
33:231 crore for 1.5% equity.
33:26I appreciate the counter, but no chance.
33:29If you are going to create such obstacles in this marketplace,
33:33then I can help you.
33:35And our collective network,
33:37it is a very, very big thing.
33:46Max, 1 crore for 3% deal Paki.
33:49Nice.
33:50Thank you, sir.
33:51Well done.
33:51Very good.
33:53I will remain your vendor for sure.
33:55Thank you, sir.
33:57You guys are awesome.
34:06Thank you, guys.
34:07Super, very bright founders.
34:13There I go.
34:15Check.
34:16Kunal was definitely on our top list,
34:19because of almost the same thing with Snapdeal.
34:21and their learnings,
34:23and that he will pass them on to us.
34:25That is something that we would do.
34:26Like I said,
34:27that they hurt us.
34:28I am sure.
34:29I will help you.
34:30Yes.
34:34Guys, welcome to the OPPO Make Your Moment Zone.
34:37Where we believe that freedom and fulfillment is one way.
34:41You are present and you are present and you are present.
34:43And my three brothers who are standing here,
34:45who are Luzo's founders,
34:46are now making a big moment
34:49and take a check from the tank.
34:51First of all, we congratulate them.
34:53First of all, congratulations.
34:54Thank you so much.
34:56Thank you so much.
34:56I think that when all of us are running business,
34:59there is a moment in your business journey,
35:01when you think this is it.
35:03We have arrived.
35:04What was that moment?
35:05Tell us about it.
35:06When we got the first funding,
35:08then we know that it is only up and up.
35:11What a matter.
35:12It is very beautiful.
35:13If you are the best friends,
35:14if you are the best friends,
35:17who can be the best friends?
35:18Because you are the best partners of business,
35:20but I am seeing that you are the best friends.
35:22You are the best friends.
35:23Do you differentiate when are friends and partners?
35:26Or do you not go with it?
35:27So, at 11am to 8am,
35:29there are partners,
35:30and then they are friends.
35:31And first and then they are friends.
35:33What do you think?
35:34So, share a big moment with your friends?
35:37Our trip to Spain.
35:38Where did you go to Spain?
35:40Iguiza.
35:41Amsterdam.
35:42Barcelona.
35:43Madrid.
35:44Oh, what do you think?
35:44You went to Amsterdam in the beach?
35:46I didn't know.
35:47It was a Leoar.
35:48Yes, I know.
35:49It will be a Leoar.
35:50It will be a Leoar.
35:51Look friends,
35:52such good memories,
35:53such good moments.
35:54The life is running,
35:55the business is running.
35:57We will capture these moments
35:57in our Oppo Reno 15,
36:00which is 4K HDR 60fps.
36:03Let's take a big selfie,
36:04which will be crisp and clear.
36:06Are you ready?
36:07Yes.
36:08Let's go.
36:17Let's go.
36:21Let's go.
36:22Let's go.
36:23Let's go.
36:28Let's go.
36:30Go to Spain and be a home shark.
36:31And be a home shark.
36:34Yes, siri kawan.
36:36Where are you from?
36:38Okay.
37:07That's right.
37:08When the son is less than 25 years old, the son's tuning is not so strong.
37:14The son feels like he's standing behind me and the son feels like he's not dead.
37:19But the father has become the man who can stand in society.
37:23Because I feel like the strength of the son has become my personality.
37:43The son has become the man who can stand in society.
38:02Sharks, we have not even added a dollar in our business.
38:07And made a 3 crore profitable business.
38:10Nice!
38:12Hello Sharks, I'm Abhinav Awal.
38:15And I'm Harpri Singh.
38:16We've come to Bareli, Uttar Pradesh.
38:18Let's simplify the lending market in India.
38:21Because in India, to get a loan is easy.
38:23But to get a right loan is very difficult.
38:26On the other hand, banks cut off the chakras.
38:29With 500 loan options, we tend to get a chakras.
38:31And if it's in the broker's chakras,
38:33then L for loan is not L for life.
38:36And there is F2 FinTech.
38:39An AI power digital lending solution.
38:41Which gives you three T's.
38:43Trust, transparency and technology.
38:47We are all in one.
38:48On the other hand, compare your loan options.
38:51On the other hand, there is a live file tracking system.
38:54And there is no hidden charges.
38:57In India's crore loan seekers,
38:59F2 FinTech GPS is showing the path of F2 FinTech.
39:02But for scaling the path,
39:04we need all of them.
39:06So Sharks, we ask 1 crore rupees for 3% equity.
39:11Abhinav and Harpreet, welcome to Shark Tank India season 5.
39:16Please, tell us about your story.
39:18Tell us about your friendship and dynamics.
39:20And tell us about business.
39:23But we met all of them,
39:26while we were eating our CPT coaching.
39:28And luck is like that.
39:30Whose coaching?
39:31CPT.
39:31We were doing CA together.
39:33So Namita, like in 2011,
39:35we started to CA in 17-18 years.
39:37We started to do CA.
39:39And we joined the classes in Bareilly.
39:44From there, IPCC started our second group.
39:48But I thought,
39:50I won't make this thing for me.
39:52I'm a good communicator.
39:53So I can do anything else.
39:54But in the finance domain.
39:56Then I dropped out of my CA and MBA.
40:00I studied from the International School of Business and Media.
40:03I got a summer internship in India's top MBA in Bajaj Finance.
40:06Oh, lovely.
40:07I did 3 crore sale there.
40:09They offered me a pre-placement offer.
40:12I started my relationship manager there.
40:15I worked for Bajaj Finance for 3 years and 11 months.
40:18I got a team promotion for this 3 years and 11 months.
40:21I had 70 people to manage my team.
40:23We had a loan from doctors.
40:26In India, there are 9,450 MBFCs.
40:30And there are 35 banks.
40:32So I thought,
40:34that I could do something in this industry.
40:37So from there,
40:38I took the input.
40:39And I said,
40:40that we will test three months.
40:42I come from a lower middle-class family.
40:44So I didn't want to leave a job.
40:46Now you don't come from this industry.
40:48So I teach a new employee in my company.
40:51I will teach you similarly.
40:52And after that,
40:54I will make a good job.
40:55So I will leave my job
40:56and we will start working.
40:59I will tell you once in a sales meeting.
41:02I can imagine,
41:03as a regional manager,
41:04how will you talk about your sales team?
41:06You will get a number of crores.
41:07We will sit in a meeting.
41:09Fantastic.
41:10What a sales person.
41:11It was fun.
41:11Abhinav, please tell us.
41:13So I did my schooling from Bareilly DPS.
41:16On the 12th,
41:16we went to Delhi for CPT.
41:19So after that,
41:20I joined Wipro for 2 years.
41:21You also dropped out.
41:22I dropped out.
41:23So after that,
41:23I realized that I didn't have that personality
41:25that I could have been closed for 6 years.
41:27How is this personality
41:28that you say?
41:31It's different.
41:32It's different.
41:33It's different.
41:33It's different.
41:34It's different.
41:34You said sales.
41:36Amazing.
41:38Amazing.
41:40So I left Wipro after 2 years.
41:43Then I joined my college for MBA.
41:46After the college finished,
41:47I joined the family business.
41:48There was a product line
41:49of 200-300 items.
41:51I made it to 3,000 to 4,000.
41:53The product line item
41:54and increase the revenue to 5,000.
41:56What was this business?
41:57It was an aluminum utensils,
41:59wholesale and manufacturing.
42:01When I was in my family owned business,
42:03I saw that there is a limit.
42:06There is no limit.
42:07There is no limit.
42:08Whatever I want,
42:09I can buy.
42:10Whatever I want,
42:11I can buy in my life.
42:13This is a big deal.
42:15Harpreet gave me this idea
42:16that we will build our company.
42:19In December 2019,
42:22I came to Delhi.
42:23We took the office for the 14th of January.
42:25Harpreet gave me a job in April
42:27when it came to me.
42:28Yes,
42:29I will earn my salary,
42:29so I will earn my salary.
42:31And this guy is too high.
42:32So we can earn something in life.
42:33Are you doing your business?
42:35No.
42:36Okay.
42:36Yes,
42:37So basically,
42:38we are a distributor of banks and NBFC products.
42:42It is an aggregator.
42:42It is an aggregator platform.
42:44Commission agent.
42:45Commission agent.
42:45Now,
42:46our fixed costs are about 18,000,000.
42:47It is only telecalling sales.
42:50So,
42:51we thought that this is a resource
42:52that we have to train for 4 months.
42:55Then,
42:56if we go,
42:56when a new person comes to training,
42:58it will start again.
43:00So,
43:00we thought,
43:01in which way,
43:02we will put AI in our field
43:04so that we can save our cost.
43:06So,
43:06we have made our sales agent.
43:09Which,
43:09you can give different customers
43:11advisory.
43:12You can speak in Hindi,
43:13English,
43:13English,
43:13multi-language.
43:16Now,
43:16we will train for your language.
43:18After that,
43:19I mean,
43:19Gujarati?
43:20Gujarati.
43:22So,
43:23it is like a chatbot.
43:24No,
43:25Chatbot,
43:252-3 years ago.
43:27This is an agentic execution.
43:32What do I do?
43:33Take a speaker and talk.
43:34Hi,
43:35I'm Deha.
43:36Your AI assistant
43:37from
43:38F2 Fatex.
43:39Am I speaking with Dr. Kunal?
43:41Dr. Kunal.
43:42I'm not doctor,
43:43I'm mister,
43:43but yes Kunal.
43:44Thank you for confirming Kunal.
43:46I'm calling because
43:47professionals,
43:48we provide a loan and overdraft
43:49facility for professionals.
43:51I have to buy a house.
43:52I need a loan for 25,000,000.
43:55How long do you want to take a loan?
43:58For 10 years.
43:59Okay.
44:00Based on this,
44:00we can give you an unsecured limit
44:02up to 30,000,000 rupees.
44:05Is this an unsecured loan?
44:07No.
44:08Home loan is always a secure loan.
44:10You said an unsecured loan?
44:12Maaf,
44:12I said an unsecured loan.
44:14Home loan is always a secure loan.
44:17What happens?
44:17What happens?
44:19What happens?
44:20What happens in Marathi?
44:21It's multi-language.
44:22We can choose a language.
44:23But this is pretty amazing.
44:24What happens?
44:26In India,
44:26total of 30,000,000,000 are employed
44:29in voice,
44:30calling.
44:32So,
44:32this implementation of AI in India,
44:34if it is adopted
44:36and clarity
44:38then we will get a lot of job losses.
44:43It scares me.
44:44But yes,
44:45it's happening in the industry
44:46and people are adopting it.
44:47I'm sure Bank Bazaar
44:48and Paisa Bazaar
44:48have also adopted it.
44:50We are not doing it.
44:51We have the first mover advantage.
44:53In the world,
44:54there is no meaning of first mover advantage.
44:56Right, sir.
44:57There is a lot of advantage
44:57of second mover
44:59because the first mover
45:00will show
45:01which way to go.
45:02Absolutely.
45:03And they will do it
45:04because the cost of AI
45:05is also coming down.
45:06The cost of computer is coming down.
45:09Largely,
45:09this is a commission agent business.
45:11It's mostly an offline business.
45:12Right.
45:14So,
45:15this is a commission agent
45:17that banks
45:17and NBFC
45:19are selling loans
45:21that you had used.
45:23How is this company different?
45:25Sir,
45:26we are a lending institution.
45:27I mean,
45:27we are an aggregator
45:28that needs professionals
45:30to deal with.
45:31Doctors
45:31and Chartered Accounts.
45:3290% of my revenue
45:34comes from the doctor.
45:35Because you have done that
45:36in three years.
45:38Harpreet,
45:39you have told us
45:40about your business
45:40about 2022.
45:42Sir,
45:43we have formed
45:43F2 FinTech
45:45and we have started
45:46in 2022.
45:49So,
45:50this was the stage
45:50where we had
45:51that we could not
45:52DSA.
45:53Kunal sir said,
45:54there are a lot of people.
45:55Yes, there are a lot of people.
45:57But still,
45:57they cannot give us
45:58good financial services.
46:00The doctors
46:01need to build
46:0310 crore rupees.
46:04Perhaps
46:05a machine will come
46:0618 crore rupees
46:07which will be
46:08a cancer machine.
46:09So,
46:09their appetite is also
46:10increased.
46:11So,
46:11when H&I customers
46:12started to acquire
46:13H&I customers,
46:13if we went to salary
46:15or business,
46:17we will not get paid
46:18because we have no capital.
46:19We have started
46:20with zero capital.
46:21Okay.
46:22Numbers.
46:23In FI 2022
46:24there was a business
46:26in FI 2022
46:27that we have
46:28turned over.
46:29In 2023
46:30we have turned over
46:313 crore 50 lakhs.
46:33This is
46:3324 financials.
46:35What is this?
46:35Loan disperse?
46:36This is your commission.
46:37We have no commission.
46:38And how many loans
46:39have you given?
46:40Around
46:41150 crores.
46:42In 2024-2025
46:43our revenue
46:44was 3 crore 73 lakhs.
46:46Value of loans?
46:47180-190 crores.
46:49Okay.
46:50Next year,
46:50it was flat.
46:513.5 crore commission
46:52and 3.73 crore commission.
46:54Because
46:54we were building
46:55tech,
46:56So,
46:56our main money
46:57was going
46:57to pay us
46:58to pay us
46:58to pay us
46:58to pay us.
47:00And then,
47:00the first six months?
47:01We have crossed
47:023.5 crores.
47:04What was the bottom line
47:05in these three years?
47:06We have gained
47:0721 lakhs.
47:08We have gained
47:0928 lakhs.
47:10We have gained
47:1024 lakhs.
47:12What is your expense structure?
47:17The most major
47:18is my salary.
47:19How many people?
47:20Now,
47:21we have 105 people.
47:22Other than
47:23employee costs
47:25in sales
47:26and marketing
47:27involved.
47:28Non-human
47:29marketing costs
47:30are you?
47:30Lead generation costs?
47:32Performance
47:33marketing costs?
47:34We don't do that.
47:35That's the point.
47:36We don't do that.
47:37I was surprised.
47:39I was surprised.
47:40You called me
47:41and told me
47:42that your team
47:44will be more lean
47:46and you will be making
47:4670%
47:47Pat.
47:48When you told me
47:49that you have
47:50100 lakhs
47:51for this,
47:51he was talking
47:52so big.
47:54What's the benefit?
47:55The AI Void
47:56was made
47:56a month ago.
47:58Okay.
48:00Two things
48:01are very good for me.
48:03One,
48:03your sales energy.
48:05Thank you, sir.
48:05440 votes
48:06in your head.
48:07I think it's less than
48:09I said.
48:09I thought
48:12that you have
48:13put a segment
48:13of doctors
48:14and then doctors
48:15have a very tight
48:15network.
48:16They know doctors.
48:18I don't like anything
48:20anything else.
48:22Why?
48:22Because
48:23I think
48:24it's a DSA.
48:27And
48:27every company
48:28small and small company
48:29big and big companies
48:30need to get AI
48:31to their business.
48:33If you want to get it,
48:34it's a great effort.
48:36But
48:36today
48:37the entire business
48:38is coming from
48:38offline telecalling.
48:41It's not a venture fundable
48:42business.
48:42it's not.
48:44Today
48:44I'll come from
48:45but wish you all the best.
48:48Harpreet,
48:49Abhinav,
48:50tell me
48:51what was your dream car?
48:53Mustang GT.
48:56Rolls Royce.
48:57Rolls Royce?
48:58Ghost?
49:00I guarantee you
49:02that
49:02you will buy
49:03your dream cars
49:03in the next 5-7 years.
49:07Thank you, sir.
49:09and you will buy
49:09because you are genuinely
49:11good sales
49:12and business drivers.
49:16But
49:16as Kunal said,
49:17I don't think this is
49:18an investable business.
49:21This is a business
49:22where
49:22the investment will not
49:24further raise
49:24or the exit will not
49:26create
49:26but the profit will create
49:28very good for you.
49:30So I'm out.
49:33I genuinely feel that
49:36you guys will flourish
49:37in this business.
49:40But this is not a fundable
49:42slash exit getting business.
49:45But for those reasons,
49:47I'm out of this deal today.
49:49I wish you all the best.
49:53Sales person
49:54who understands
49:56personalization,
49:56customization
49:58to make the other person
49:59feel special.
50:01And you have said
50:033-4 facts
50:04that I felt very special.
50:07So,
50:08I'm a dream.
50:10Right now,
50:10it's just a commission business.
50:13So let's say
50:14after the doctors,
50:15after the CAs,
50:15after the CAs,
50:16after the lawyers,
50:17whatever,
50:17you'll keep extending.
50:19But then,
50:20you yourself said
50:219,540.
50:24NBFC.
50:24NBFC.
50:25Right?
50:25FinTech in India
50:26is one of the biggest stories.
50:30All of us are saying
50:32the same thing.
50:34Scalability
50:34has a question mark.
50:36So,
50:37right now...
50:37I have funded SoftBank
50:39the same job.
50:40you're making 333 crore profit.
50:42Like 5,
50:43basic home loan,
50:45loan,
50:45bank,
50:46all profit.
50:47But you know what?
50:48A lot of them
50:48had early mover advantage.
50:52You're entering
50:53with a 3.5 crore commission.
50:56It's still relatively
50:57very tiny.
50:59Too many people
51:00vying for the same
51:01group of customers
51:02and the same
51:02end cases.
51:04So,
51:04for that reason,
51:05I'm out.
51:07I've seen a picture
51:09that this is a
51:10tech platform.
51:12I expected
51:12that people
51:15are coming
51:16to your website
51:17and then
51:18they can select
51:19and that's
51:20a digital business.
51:22After that,
51:24I realized
51:24that this is a whole
51:25business
51:25which is a calling
51:27business
51:28which is outgoing.
51:29Inbound,
51:29nothing is
51:29because your performance
51:30marketing spend
51:31to get traffic
51:32on your website
51:33is actually zero.
51:36Second is,
51:37I'm getting a little
51:38comfort in your numbers
51:39because
51:39I mean,
51:4018 lakhs
51:42and
51:4325 lakhs
51:45you're doing
51:4550-60 lakhs
51:46net revenue.
51:46Why are you doing
51:4810% EBITDA
51:49and not 50% EBITDA?
51:51I'm not getting
51:51the numbers
51:52a little triangulated.
51:54So,
51:55I feel
51:55that I'm not
51:56able to get
51:57that trust
51:58and transparency
51:58which I would need
51:59to write a check
52:00in such a small
52:00time.
52:03So,
52:04for that reason,
52:04I'm not able
52:05to partner with you.
52:06But best of luck.
52:08All the best, guys.
52:09I wish you all the best.
52:11Bye, bye guys.
52:12Good luck.
52:13True feedback.
52:24The take-back is that we need to focus more on performance market so that customer can come on our
52:34funnel and take our product which we were not able to show them.
52:37Hey!
52:41I love hair!
52:42I love hair!
52:43No hair!
52:44What's going on?
52:45What's going on?
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52:56to this.
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52:57which makes
52:59clean home care
53:00and personal care products.
53:02Is this a food stain remover?
53:03Yes.
53:04They have
53:04light and faster
53:05and the coffee will go out there.
53:08Can you try it?
53:08Yes.
53:09I can do it.
53:11I'm going to add instant stains.
53:16These are your top two products.
53:17Bye Bye Stain and Bye Bye Rulies.
53:19Yes.
53:19I think it's gone.
53:20Stain is gone.
53:21That is fantastic.
53:22Yeah.
53:23I wish white t-shirt would be more fun.
53:25It's not bad.
53:26Yeah.
53:27I think the redness is gone.
53:28Good job, guys.
53:30We make the powerful hidden secrets
53:33of nature's hidden secrets
53:34nutrition, food and skin wellness products.
53:37The taste of mango without sugar.
53:39I love the taste.
53:40I love the taste.
53:41It's very good.
53:41I'm drinking it.
53:42It's because of the big amount of antioxidants.
53:45Sea buckthorn also says super fruit.
53:47Actually, sir,
53:48we get all omega 3, 6, 7, 9.
53:51They get all omega 3, 6, 7, 9.
53:51They get all in fish oil.
53:54The omega is purely plant based omega.
53:57Vegetarian is a very big thing.
53:59I'm a vegetarian.
54:00And when fish oil comes,
54:01it comes to births.
54:01Why to kill a fish when you can have it from plant?
54:04If you give a child a balanced nutrition,
54:06it's more tough to design the rocket design.
54:08I would know because I'm a mom
54:10and a rocket designer too.
54:13Wow!
54:14In Little Cherry Bomb,
54:15we get flowers, dosamixes, pancakes,
54:1945 healthy kid-friendly options.
54:22I will only make a factory.
54:24So, I sold off the house.
54:29It's great, man.
54:31Amazing.
54:32Salute your parents.
54:34I wish all entrepreneurs get this kind of support, man.
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