Mahantam: Providing Quick and Hygienic Solutions for Tea Stalls in India

Mahantam, founded by Dhaval Prakashbhai Bai and Jayesh Prakashbhai Nai, is a startup that aims to solve the problem of unhygienic tea glasses in Indian tea stalls. They have developed a compact and simple tea glass washing machine called Mahantam that can wash 12 to 15 glasses in just 30 seconds. The USP of their product is its design, which can be used to develop many similar products for the washing industry.

The founders of Mahantam received a grant from Dreamdeal, an initiative that provides grants to small startups in return for no equity. They used the grant to develop their product and have already sold three machines in Karnataka, Tamil Nadu, and Maharashtra.

PLANS AND AIM OF THE STARTUP
The aim of Mahantam is to solve the problem of unhygienic tea glasses in Indian tea stalls. The founders of the startup, Dhaval Prakashbhai Bai and Jayesh Prakashbhai Nai, have developed a compact and simple tea glass washing machine that can wash 12 to 15 glasses in just 30 seconds. They aim to set up their machines in every tea stall in India, so that everyone can get hygienic tea.

Mahantam's innovative solution addresses a problem that affects millions of people every day. In India, tea is a popular beverage that is consumed at tea stalls across the country. However, the paper cups used by these stalls are harmful to humans and the environment, while the glass cups used are often unhygienic. Mahantam's machine provides a quick and efficient solution for washing tea glasses, ensuring that people can enjoy their tea in a safe and hygienic way.

The founders of Mahantam have shown a commitment to their aim by developing their product with a focus on design and efficiency. They have also presented their machines at different colleges and raised funds to support their startup. They plan to sell 50 machines in the current year, with each machine priced at ?28,000.

In the long run, Mahantam's aim is to expand their reach beyond tea stalls and develop similar products for the washing industry. By doing so, they aim to make a positive impact on both the environment and public health in India.

Overall, Mahantam's aim is to provide an innovative solution to a problem that affects millions of people in India. Their commitment to this aim is reflected in the design of their product, their sales plans, and their long-term vision for their startup.

TARGET MARKET AND BUSINESS MODEL

Mahantam's business model is to sell their tea glass washing machine to tea stalls in India. The machine can wash 12 to 15 glasses at a time in just 30 seconds, and has a 38-liter water container that can wash up to 250 glasses. The price of each machine is ?28,000, and the manufacturing cost is ?19,000. This gives them a gross margin of 32%.

Their target market is tea stall owners across India who want to provide their customers with hygienic tea glasses. This market is large, as tea is a popular beverage in India, and tea stalls can be found on almost every street corner. By selling their machines to tea stall owners, Mahantam aims to provide a solution to the problem of unhygienic tea glasses, while also creating a profitable business.

Mahantam's business model is built around their innovative product and their commitment to customer satisfaction. By providing a quick and efficient solution for washing tea glasses, they are able to offer a unique value proposition to their target market. Their machines are priced competitively, with a gross margin that allows them to remain profitable while also keeping their product affordable for tea stall owners.

In the long run, Mahantam plans to expand their business model beyond tea stalls and develop similar products for the washing industry. This would allow them to reach a wider target market, while also addressing other problems related to hygiene and cleanliness in India.

Mahantam's business model is focused on providing a solution to a problem in a specific market. Their target market is tea stall owners in India, and their product is designed to address the problem of unhygienic tea glasses. By doing so, they aim to create a profitable business while also making a positive impact on public health and the environment.

SALES AND REVENUE

Mahantam's product, the tea glass washing machine, is priced at ?28,000 each, with a manufacturing cost of ?19,000. This gives them a gross margin of 32%.

Their target is to sell 50 machines in the current year. If they are able to achieve this target, their total revenue for the year would be ?14 lakhs (50 machines x ?28,000). However, they have already sold three machines in Karnataka, Tamil Nadu, and Maharashtra, which would have generated revenue of ?84,000 (3 machines x ?28,000) for the company.

Assuming that they are able to sell the remaining 47 machines at the same price, their total revenue for the year would be ?13.16 lakhs (47 machines x ?28,000). Subtracting the total manufacturing cost of these machines (47 machines x ?19,000), their total profit for the year would be ?4.35 lakhs.

It is worth noting that this calculation assumes that Mahantam will achieve their sales target for the year, and does not account for any additional expenses that the company may incur. Additionally, the revenue and profit generated by the company may vary depending on factors such as changes in the cost of manufacturing, competition in the market, and the company's ability to attract new customers.

Mahantam's sales and revenue are currently driven by the sale of their tea glass washing machine to tea stalls in India. While their sales target for the year is relatively modest, if they are able to expand their product line and reach new markets, they may be able to achieve greater sales and revenue in the future.

FUNDING IN SHARK TANKS INDIA

Mahantam, a startup that appeared on Shark Tanks India, successfully secured funding from all five sharks in the show. The company's owners, who were seeking an investment of ?30 lakhs for 10% equity, ultimately agreed to a final deal of ?30 lakhs for 20% equity with all five sharks.

Initially, Anupam offered ?30 lakhs for 20% equity, but the other sharks eventually joined in to support the owners of Mahantam. The final deal, which was agreed upon by all five sharks, meant that the company would receive the full amount they were seeking but at the cost of double the equity they originally intended to give away.

The sharks who invested in Mahantam are Peyush, Veenita, Anupam, Namita, and Aman, all of whom saw potential in the company's business model and growth prospects. With the investment, Mahantam will have the necessary funds to continue its operations and scale its business.

Overall, the success of Mahantam in securing funding from all five sharks on Shark Tanks India demonstrates the value and potential of the company's business, as well as the willingness of the sharks to invest in promising startups.