A music instructor based in Kerala named Serah John failed to persuade Anupam Mittal from Shark Tank India and the other panel members with her business proposal.
In order to secure fund, she presented a musical performance showcasing children who did not know each other before the show started.
Despite the performance, Shark Tank India’s Aman Gupta disagreed.
Business model, financial challenges
Serah John sought Rs 50 lakh investment for 1 percent equity stake after presenting two key aspects of her business which included more than 700 national students and retention rates at 76 percent.
She disclosed that student fees amount to Rs 26,000 for half a year of education. She informed the investors that her family had invested Rs 4.5 crore into the business operations.
Her virtual school operates with a complete staff consisting of principal, vice principal and head of admissions, as she explained to the judges.
During their interaction, Aman Gupta directed her toward lowering her costs since he found her expenses to be unnecessary.
Investors including Anupam Mittal rejected pitch at Shark Tank India
Lack of accreditation caused Namita Thapar to opt out. As per her perspective the educational accreditation stands as mandatory for Indian families who enroll their children in schools.
Kunal Bahl noted Serah’s excessive spending and weak financial management. Questioning the business’s long-term viability, Ritesh Agarwal also declined to invest.
Serah made a final appeal to Anupam Mittal but he dismissed the idea outright and asserted that the business lacks potential.
He warned her about the low conversion rate of 0.2 percent in the industry and advised her to exit the venture.
