Prachi, a New Delhi entrepreneur, went on stage on Shark Tank India to present his interior decoration brand Chokhat, aimed at creating India’s response to Ikea. She asked for 50 Lakh ₹ for 7% equity, valuing her business with 7 sterling books. The brand specializes in luxury decoration with animal -inspired and nature designs, aimed at making high -end interior decoration more accessible.
Prachi shared that she had managed the solo business since 2018, but recently started to hire. When Anupam Mittal pressed her from the employees, she revealed that her best paid employee had won 15,000 ₹ before being released last month.
Currently, his company has two employees – one winner 10,000 ₹ per month and 7,000 ₹. She admitted that her reluctance to hire earlier came from the fear of having to dismiss people.
Anupam underlined the disparity: “Ek Taraf toh Aap Kehte Ho Ki you want to do your best for these people; On the other hand, you pay them below the minimum wage. Prachi admitted that she needed help to build a solid team and sought funding to create a one -year wage track for its employees.
Peyush Bansal and Aman Gupta wondered how she could grow if she hesitated to take such measures. “Aapko Kya Pata Kab Kisko hires Karna Aur Kab Nikalna?” They asked.
His journey and his perseverance impressed the sharks, but his challenges to adapt to the change have become a point of collision. She admitted that the sale on Amazon did not work for her due to high return rates. Vineeta Singh urged her to rethink her strategy. “Agar AAP Customer Dushmani Karengi, Toh Aap Kabhi Ghar-Ghar Nahi Jaa Payengi,” said Vineeta.
Despite the reverse, Prachi revealed his ambitious plans. After winning 4.5 Lakh during her second year, she is targeting 1 crore of 1 ₹ this year and hopes to spend her income to 6 ₹ in three years by developing in other interior decoration products.
In the end, Anupam Mittal and Peyush Bansal offered 30 Lakh for 10% for 10% and 20 Lakh in debt to 10% for a year, sealing the agreement with Prachi.
