Peyush Invests in Lil Goodness with Lower Interest Rate Deal: Shark Tank Update

Peyush Invests in Lil Goodness with Lower Interest Rate Deal: Shark Tank Update

Three points you will get to know in this article:

  • Lil Goodness makes healthy snacks with turmeric and teff for quality and taste.
  • Company earning ₹1.45 crores monthly from sales of chocolates, milkshakes, puffs, and milk mixes.
  • Peyush invested 50 lakhs for 1% stake on Shark Tank India & gave a 50 lakhs loan at 10% interest.ter secured 50 lakh rupees for 6.5% equity to promote health awareness.

Shark Tank India Featured Lil Goodness

Shark Tank India Featured Lil Goodness

Lil Goodness is a small new company that makes special food for kids and grown-ups. They use ingredients from different countries like teff from Africa and turmeric from India. Also, they add a special plant fiber from chicory roots. These special ingredients are mixed with chocolate to make yummy and healthy snacks. One product they have is a chocolate with turmeric that has less sugar and is good for your tummy. Another snack they offer is a teff puff made with teff, quinoa, and supergrains, which is good for a quick and healthy bite. Their oat milkshakes have less sugar too, so they are perfect for people who want to be healthy. Overall, Lil Goodness cares about quality and making snacks that are delicious and good for you.

Click here to visit official website: Lil Goodness

Damanbir Singh and Harshvardhan : Lil Goodness Founders

Company was started by two people named Damanbir Singh and Harshvardhan. Damanbir is from Chandigarh, and Harshvardhan is from Kerala. They started the company together. Damanbir owns 8% of the company, and Harshvardhan owns 24%. Interesting thing is that Harshvardhan and another person named Peyush were classmates in school.

Lil Goodness Sales and Revenue

Lil Goodness sells chocolates, milkshakes, puffs, and milk mixes. They make a total of ₹1.45 crores in sales revenue every month. Out of this, 60% of the sales come from chocolates, 20% from milkshakes, 15% from puffs, and 5% from milk mixes.

Now, let’s talk about how much money they make from each product and how much it costs to make them:

  • Chocolates are sold for ₹20 each, and they bring in 60% of the total sales revenue. Lil Goodness makes a profit of 69% from selling chocolates.
  • Milkshakes contribute 20% to the sales revenue, with a profit margin of 64%.
  • Puffs make up 15% of the sales revenue, and they have a profit margin of 70%.
  • Milk mixes only account for 5% of the sales revenue, with a profit margin of 59%.
  • When we combine the profit margins of all these products, we get a blended profit margin of 66%.

Even though Lil Goodness makes a good amount of money, they also have expenses to cover. Every month, they spend a total of ₹1.56 crores:

  • Cost of Goods Sold (COGS) is 47 lakhs, which is the cost of making the products.
  • Logistics costs are 23 lakhs, for transporting the products.
  • Marketing costs amount to 19 lakhs, for advertising and promoting their products.
  • Salaries for the employees are 27 lakhs.
  • Distribution costs are 12 lakhs.
  • They also have one-off expenses of 25 lakhs.

Additionally, Lil Goodness has a monthly burn rate of 30 lakhs, which means the amount of money they are losing each month.

Lil Goodness : Shark Tank Deals and Offers

Peyush wanted to invest in Lil Goodness, a company. He initially offered 50 lakhs rupees for 1% ownership of the company and also offered a loan of 50 lakhs rupees with a 12% interest rate. However, the owners of Lil Goodness didn’t agree with the interest rate and suggested a lower one at 10%. In the end, they finalized the deal with Peyush investing 50 lakhs for a 1% stake in the company and also providing a loan of 50 lakhs rupees with a 10% interest rate. This means Peyush now owns a small part of Lil Goodness and the company received financial support from him in the form of a loan that they have to repay with a lower interest rate.

Shark Tank India showcases a dynamic platform where aspiring business owners pitch their concepts to influential investors, hoping to gain the support and resources needed to scale their enterprises.

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