The Simply Salad is a cloud kitchen-based startup dealing exclusively in salads. The company is based in Ahmedabad and provides doorstep delivery of healthy and creative salads.
Simply Salad aims to change the boring unpalatable salad into a delicious healthy one.
More About The Simply Salad
Soham Payal Pathak and Payal Pathak are the founders of the company. Soham Payal Pathak is the son of Payal Pathak. Soham is currently pursuing BBA Hons in Finance Economics from Ahmedabad University.
The business has been in operation since August 2020 and was already making great sales and garnering good profits when they appeared on the tank.
The company offers tasty and creative salads containing vitamins, proteins, fiber, low fats, and carbs. The salads are fresh and have been made according to the Indian taste palette.
The salads offered by Simply Salad are affordable as well. The weekly subscription costs INR 180 per day, whereas the monthly subscription costs INR 150 per day. Since its inception, they have already fulfilled 35,000 orders.
The unique features of Simply Salad include that the salads are-
- Healthy and tasty salads are delivered to the doorstep.
- Available on monthly and weekly subscription models.
- Biodegradable Packaging.
The Simply Salad Shark Tank Pitch and Updates
Soham and Payal appeared on Shark Tank India and informed the founders that they had already fulfilled 35,000 orders. Daily, they deliver 80-90 orders. The founders demanded INR 30 lakhs for a 10% equity at a valuation of INR 3 crores.
After the initial pitch, all the sharks were highly interested in the products. Peyush further enquired about the journey of Simply Salad. Payal said she worked with British Airways as a reservation counter officer. She later started a PG (Paying Guest) business in Ahmedabad, which was doing well.
However, after Covid-19, their business stopped, and they realized a potential demand for healthy food. Henceforth, they started their business of Simply Salad.
Aman was interested in the roles both founders play in their businesses. Payel informed the sharks that she looks after procuring products and recipes, whereas Soham looks after product delivery, finance, and social media marketing.
Aman preliminary resisted tasting the salad as he hated greens. However, after the request of Soham, he finally agreed to taste it. Vineeta concurred with Soham that her mother is a magician who can also make healthy food taste.
Peyush enquired about the pricing, to which they informed that a weekly subscription costs INR 180 per day, whereas a monthly subscription costs INR 150 per day. Anupam was impressed with the affordable pricing they are offering.
Anupam asked about the revenue the company is making. Soham and Payal informed us that they are making INR 4.42 lakhs a month, with a gross margin of 67% and a net margin of 47%.
The founders shared their plan to open more outlets and serve a more extensive customer base. The founder aims to make a sale of INR 50-60 lakhs within the next five years.
Aman and Vineeta jointly offered INR 30 lakhs for 10% equity, matching their original ask. They both were impressed by the grit and gratitude of mother-son as founders. Namita was out of the deal as she believed that Aman and Vineeta could help them make their business big and offer a better opportunity.
Anupam was out of the deal too, but he opined to them to study health and nutrition in depth and venture the idea of providing a complete meal service. This was followed by Peyush, as he believed they had already received a great offer.
The deal was closed as the founder accepted the offer made by Vineeta and Aman for INR 30 lakhs for 10% equity of the company for the valuation of 3 crores.
|Company Name||The Simply Salad|
|Founders||Soham Payal Pathak and Payal Pathak|
|Shark Tank Episode||Season 2 – Episode 7|
|Asked For||INR 30 lakhs for 10% equity|
|Deal||INR 30 lakhs for 10% equity|
|Sharks Invested||Aman & Vineeta|
|Valuation Given||3 crore|
Simply Salad closed a deal of INR 30 lakhs for 10% equity at a valuation of INR 3 crore by Aman and Vineeta.
Frequently Asked Questions About Simply Salad
After their appearance on Shark Tank India Season 2, people were trying to find more information about Simply Salad. So here are some of the frequently asked questions about them.
1. Who Are The Founders of The Simply Salad?
The founders of the company are Soham Payal Pathak and Payal Pathak. Soham is the son of Payal.
2. Is The Simply Salad profitable?
Yes, Simply Salad is a profitable company, and they are showing fantastic yearly growth.
3. Why did the Sharks invest in The Simply Salad?
Namita did not invest in the b business, believing that Aman and Vineeta were already adding much value to their company and she could not possibly add anything extra. As for Anupam, he believed serving a complete meal would be a better option than just the salad.
Followed by him, Peyush also left the deal, citing that they had already received a great offer and that Soham and Payal should go forward with Aman and Vineeta.
4. What happened to The Simply Salad after the Shark tank?
Simply Salad was able to secure the deal which they originally asked for. However, we are following up with them and shall share any updates as soon as we receive them.