Licksters ₹25 Lakhs for 5% Equity and ₹ 25 Lakhs Debt Win on Shark Tank India

Licksters is a popular brand that makes popsicles and ice cream. They were featured on Shark Tank India Season 2 Episode 18, and were started by Parimal Kalikar and Dhivya Subburaju. Their products are known for having 80% fruit content and for being free from artificial colors or chemicals. They offer 30 different flavors and have options that are sugar-free. They have three types of ice cream: Greek yogurt bars, vegan bars, and regular ice cream bars.

Click here to visit their official website: Licksters

The company has been doing well, with their sales increasing over the years. They made 9 lakhs in 2019-2020, then saw a big jump to 65 lakhs in 2021-2022. Their sales stayed steady at 65 lakhs in 2022-2023, bringing their total sales to over two crores. They now have big plans to reach a sales target of 5 crores and are looking to expand through franchise opportunities in the coming year, showing that they are eager to grow and strengthen their presence in the market.

The founders revealed that 80% of their sales come from products priced at less than ₹100. Their sales for last month totaled ₹14 lakh, and all of their stores are making a profit. Furthermore, they mentioned that their gross margin is about 50% for franchise stores and 70% for their own stores. In addition to this, they achieved sales of ₹70 lakh from their own store this year. They have also made their products available for delivery through Zomato and Swiggy.

Related: Girgit’s ₹ 20 Lakhs for 20% Equity Win On Shark Tank India

Parimal Kalikar and Dhivya Subburaju are the creators of Licksters. Parimal hails from Nagpur, Maharashtra, while Dhivya is from Tamil Nadu. They embarked on this business journey after getting married. Parimal has a background in hotel management, which motivated them to start Licksters together.

Namita, the first shark, decided not to invest because she felt that the pricing was not right for her at the moment. Aman then pointed out three issues with the deal – pricing, potential, and the desire for another shark named Peyush to be involved. Consequently, Aman also decided not to invest. Peyush declined to invest because he had already put money into another venture called Skippi.

Following that, Anupam decided not to invest because he felt that the company’s positioning and marketing strategies were not clear. Amit then opted out of the deal because he did not like the product. However, after some persuasion from the entrepreneurs, Amit agreed to reconsider and offered them an investment of ₹25 lakh for a 5% stake in the company, with the rest in the form of a debt. The founders accepted this offer without any hesitation.

Our investigation into the company revealed that their deal with Amit on the TV show Shark Tank India didn’t work out, but that didn’t slow down the company’s growth. The company’s founders talked to Nagpur Today and said they had a great time on the show, and the investors really liked their products. They also mentioned that after the show aired, they received more than 500 potential opportunities to expand their business through franchise partnerships, which they are currently working on.

As of July 2024, the company is still operating and expanding. They have more than 25 stores in 8 different states across India, and they are offering franchise opportunities for around 5 lakhs. While the financial details of the company are not yet public, the article promises to provide updates as more information becomes available.