Two sisters Manahil and Mawra Mughal from Islamabad secured Rs30 lac for their business on the platform of Shark Tank Pakistan.
The sisters presented their business to the judges, which was a cloud-kitchen bakery named as Baked Spot.
About the business
The business showed great potential, and the revenue figures were encouraging. The founders asked for Rs20 lacs in exchange for a 10 per cent equity because the business is already growing.
During the last three nine months, the founders told the sharks that the company achieved sales of Rs3 million and recorded a profit of Rs1.2 million despite only the intial investment of Rs30,000.
Baked Spot has a unique opportunity to capitalise on the lack of a strong cloud-based brand in Pakistan’s baking sector, positioning itself for rapid growth.
Faisal Aftab and Aleena Nadeem expressed their interest in the innovative approach and were struck by the efficiency of the business operations.
As a result, they collectively proposed an investment of Rs30 lacs for a 15 per cent stake in the company.
Rabeel Warraich also proposed an investment of Rs25 lacs for a 20 percent stake in the venture.
However, during the competitive bidding process, the sisters ultimately chose to accept the proposal from Faisal and Aleena.
Baked Spot pitch overview on Shark Tank Pakistan
- Pitchers: Manahil Mughal and Mawra Mughal
- Ask: Rs20 lac for 10 per cent equity
- Business: Bakery cloud kitchen, Baked Spot
- Result: Faisal Aftab and Aleena Nadeem offered Rs30 lac for 15 per cent equity which got accepted by the founders.
