Licksters: The Natural and Innovative Alternative to Traditional Frozen Treats

Licksters is an innovative Indian startup founded by Parimal Kalikar and Dhivya Subburaju, with the mission of creating premium popsicles and ice cream with high fruit content and no artificial colors or chemicals. The idea of Licksters came to the founders after completing a challenge of no sugar and no dairy for 100 days. They realized that many ice creams in the market contain chemicals that mask the real taste of fruits, and decided to make a product that gives the real taste of fruits.

The company offers three different categories of products, including Greek yogurt bars, vegan bars, and ice cream bars. They also make premium ice creams and shakes, with many innovative flavors and sugar-free options. Currently, they have around 30 flavors, all made with high-quality ingredients.

AIM OF THE STARTUP

The aim of Licksters is to create high-quality frozen treats that provide the real taste of fruits while avoiding artificial colors and chemicals. The founders of the company were inspired to start the business after completing a 100-day challenge of no sugar and no dairy. During the challenge, they realized that many ice creams in the market contain chemicals that mask the real taste of fruits.

To address this issue, Licksters offers a range of popsicles, ice creams, and shakes that contain high fruit content and no artificial colors or chemicals. The company uses natural ingredients to create innovative and delicious flavors, and they also offer sugar-free options to cater to different dietary needs.

In addition to providing healthy and delicious frozen treats, Licksters is committed to maintaining the quality of their products. Despite their growth, they ensure that every product they offer meets their high standards, and they continue to innovate and improve their offerings.

USP & TARGET MARKET

Licksters has a unique selling proposition (USP) of offering frozen treats that contain high fruit content and no artificial colors or chemicals. This sets them apart from traditional ice cream and popsicle brands that often use artificial flavors and additives.

The USP of Licksters is particularly appealing to health-conscious consumers who are looking for healthier alternatives to traditional frozen treats. They offer a range of products that cater to different dietary needs, including sugar-free options and vegan bars.

The target market for Licksters is health-conscious consumers who are looking for healthier and more natural frozen treats. This includes individuals who are interested in clean eating, natural foods, and plant-based diets. The company's commitment to using natural ingredients and avoiding artificial additives also appeals to parents who want to provide their children with healthy and nutritious snacks.

In addition, Licksters has a strong appeal to consumers who enjoy trying new and innovative flavors. The company offers a range of unique and interesting flavors, such as mango chili, blueberry lavender, and strawberry basil. This appeals to consumers who are looking for something different from the usual ice cream and popsicle flavors.

SALES AND REVENUE

The startup has seen steady growth in its sales and revenue over the years. In FY 2019-2020, they recorded sales of 9 lakhs, which increased to 16 lakhs in FY 2020-2021. In the following fiscal year, FY 2021-2022, their sales saw a significant jump, reaching 65 lakhs, and in the first 6 months of FY 2022-2023, they recorded sales of 65 lakhs. The projected sales for the year are 2 crore.

The startup has experienced a sharp increase in sales in recent times, with their last month's sales alone reaching 14 lakhs. They have also achieved a high gross margin of 70 to 72% from their own store and 50% from their franchise sales. Their net margin is also impressive, with 40% from their own store and 20 to 23% from franchises.

Licksters offers a range of products, including popsicles and ice cream, with a higher gross margin of 50% on ice cream compared to 40% on popsicles. Their lifetime sales have already crossed two crores, and they aim to reach five crore sales with the help of franchise partnerships in the upcoming year.

To expand their reach, Licksters has made their products available not only in their own stores but also through popular food delivery platforms such as Zomato and Swiggy. These channels have helped the startup tap into a wider customer base, leading to increased sales and revenue. Overall, Licksters' strong growth in sales and profitability is a testament to their unique product offerings and successful business strategy.

JOURNEY IN SHARK TANKS INDIA

During the pitch, the founders of Licksters made an ask of 50 lakhs for 5% equity of the company at a valuation of 10 crores.

During the course of the show, several investors stepped out of the deal for various reasons. Namita felt that the pricing of the product was too high, while Aman had concerns about potential issues with the product. Peyush stepped out of the deal as he was already an investor in a similar product, and Anupam was concerned about the potential of the product and the name of the brand.

However, Amit saw potential in the company and made an offer of ?25 lakhs for 5% equity of the company at a valuation of ?5 crores, along with ?25 lakhs in debt. He also suggested that the company work on the pricing of the product.

After considering the offers and counter offers, Licksters ultimately closed the deal with Amit at ?25 lakhs for 5% equity of the company at a valuation of ?5 crores and ?25 lakhs debt.