CocoFit: The Coconut Business in Shark Tank

CocoFit: The Coconut Business in Shark Tank

The best thing about CocoFit is that they promoted the business on national television without any advertising and obtained investor contacts that they can use to expand their business in North America; this worked extremely well, and the counter they offer by saying that we are software engineers and that we have already made 2 CR, which is enough for us, is fantastic. And yes, guys, it's a great drink. Go and try it if possible; it's in Kukatpally, Hyderabad.

5% of equity in 5 Rs was way too little if you go by maths. Entrepreneurs made a genius move by seeking endorsement from multiple Sharks, who have a dedicated following that spans the entire nation. They knew their pitch was too tempting to be ignored.

Their destination is to increase their already profitable business by using Sharks as a base and sell their franchise thereafter, which anybody will do after seeing the annual revenue and Sharks associated. It's like making a small budget movie, which would generate 50–100 crores. Win-win situation because nobody is at a loss.

CocoFit: Coconut Franchise in India

• This pitch was successful in creating curiosity regarding the company's low valuation. Everyone is trying to understand why the valuation is so low. 
• A franchise business requires proper marketing and strategies to be successful. People need to know about the product and brand in order to purchase it. 
• The pitch, valuation, and other strategies were used to draw people's attention to the product and business. 
• If the franchise is doing well, the company can use the returns to pay salaries and cover other expenses. If things go wrong, the money saved in the bank can be used to pay the franchise owners.

How is the CocoFit team doing?

What about the CocoFit team? They came for the exposure and wanted to get one of the sharks hooked into the company so that it survives and potentially grows. Absolute genius.

Anupam was the first to point out the loopholes in their business, then Ashneer and Piyush followed him. Smartly, Anupam closed this deal with Namita and Aman. That's where the experience counts. It's wonderful to see the Cocofit owners openly acknowledge that they require assistance with the operations and logistics. The basic idea behind Shark Tank India is that you can ask the sharks for any advice, investment, or feedback you desire.

CocoFit is now in service, over a year after the Shark Tank pitch. It seems to be functioning properly based on its social media presence. Also, CocoFit declared that it would be expanding to the US in December 2022.

CocoFit: The Coconut Business in Shark Tank