Let's Try: Healthy Snacks for Everyone

Let's Try is a startup founded by Nitin Kalra, Chitra Gupta, Neelam Kalra, and Geetanjali, who are all based in Delhi. The primary aim of the company is to offer healthy and quality snacks to individuals and families from all sections of society. The founders recognized that many children and adults have a strong preference for junk food and unhealthy snacks, which are often made using artificial ingredients and palm oil.

Let's Try seeks to change this by providing a range of snacks that are not only tasty but also healthy. The company offers 50 different varieties of snacks, all of which are made using high-quality ingredients. They use 30% to 50% base ingredients in their products, such as 40% flax seeds in their flax seeds bhujia. The snacks are made using 100% groundnut oil, and no added chemicals or preservatives are used in their production.

AIM OF THE STARTUP

The aim of Let's Try, as a startup, is to provide a healthier and more nutritious snacking option to individuals and families. The founders of Let's Try recognize the widespread consumption of junk food and unhealthy snacks in society, particularly among children, which often contain artificial ingredients and palm oil. Their objective is to offer a range of snacks that are not only tasty but also made using high-quality ingredients, free from added chemicals and preservatives.

Let's Try aims to make a positive impact on the health and wellbeing of their customers by offering healthier snacking options. By prioritizing the use of quality ingredients, the company seeks to provide a more nutritious alternative to traditional snacks. The company also values customer preferences and feedback, ensuring that their products align with the needs and wants of their target audience.

BUSINESS STRATEGY

The business strategy of Let's Try, a Delhi-based startup, is centered around providing a range of healthy and high-quality snacks to customers. The company's primary goal is to offer customers a healthier snacking option that is both nutritious and delicious. To achieve this objective, the company focuses on the following strategies:

• Quality Ingredients: Let's Try uses high-quality ingredients in the production of their snacks. They use 30% to 50% base ingredients in their products, such as 40% flax seeds in their flax seeds bhujia. The snacks are made using 100% groundnut oil, and no added chemicals or preservatives are used in their production.

• Customer Feedback: The company values customer preferences and feedback, ensuring that their products align with the needs and wants of their target audience. By incorporating customer feedback into their product development, the company can create snacks that cater to their customers' tastes and dietary requirements.

• Retail Channels: Let's Try aims to make their products widely available through various retail channels. The company's snacks are available in e-commerce stores, modern stores, and over 600 other stores. Additionally, the company sells its products directly to consumers through their website.

• Branding and Marketing: The company emphasizes the health benefits of their snacks and promotes them as a healthier alternative to traditional snacks. By leveraging digital marketing techniques, the company aims to increase brand awareness and attract new customers to their products.

Let's Try's business strategy focuses on providing high-quality, healthy snacks that cater to customers' tastes and dietary requirements. The company aims to make their products widely available through various retail channels while prioritizing customer feedback and promoting their brand through effective marketing strategies.

SALES AND REVENUE

Let's Try has shown remarkable sales growth in just seven months since its inception. The company started with a modest sales figure of 50,000 rupees, without any marketing investment. However, in a short period, their sales have skyrocketed to 16 lakhs (1.6 million) rupees. This significant growth can be attributed to their focus on providing healthy and quality snacks that are absent in the market, catering to every class and family of the society. They provide 50 varieties of healthy and tasty snacks, which contain no added chemicals or preservatives. The startup's gross margin is impressive at 55-60%, and their net margin is 25-30%. They achieve a net profit of 25% of their sales, which equates to 4 lakhs (400,000) rupees. Their pricing is reported to be 15% higher than that of Haldiram, a well-known snack brand in India. Based on the provided information, Let's Try is on track to achieve a turnover of 40 lakhs (4 million) rupees by the end of the month. Overall, Let's Try has shown an excellent sales performance, driven by their focus on providing healthy and quality snacks and a sound business strategy.

FUNDING ON SHARK TANKS INDIA

Let's Try has participated in the Indian version of the television show Shark Tank, where entrepreneurs pitch their business ideas to a panel of investors. The pitch offered 2% equity for 45 lakhs in funding.

The first counteroffer from investor Anupam was 25 lakhs for 10% equity and a 20 lakhs loan. However, this offer was revised, and Anupam and Aman offered 45 lakhs for 15% equity. In response, the pitchers made a counteroffer of 45 lakhs for 10% equity.

The final offer for Let's Try was agreed upon between Anupam and Aman, who invested 45 lakhs in exchange for 12% equity in the company. This suggests that the pitchers were able to negotiate a better deal for themselves compared to the earlier offers, but ultimately agreed to the revised offer from Anupam and Aman.