Taking the Guilt Out of Indulging: Get-A-Whey

Get-A-Whey is an ice cream startup that is revolutionizing the dessert industry with their healthy and delicious products. Founded by siblings Jash and Pashmi Shah and their mother, Jimmy Shah, Get-A-Whey began as a small business idea in their mother's kitchen and has now become a successful enterprise.

The company is committed to promoting healthy living by producing sugar-free and gluten-free ice cream made with whey protein. Whey protein is a byproduct of cheese-making and is used to create a creamy and tasty ice cream that contains four times more protein and fewer calories than traditional ice cream.

Get-A-Whey offers 12 different flavors, including four keto-friendly options. They are also planning to introduce low-calorie ice cream sandwiches and vegan products in the near future. In just 1.5 years since their inception, they have established their presence in Mumbai, Pune, Gurugram, Delhi, and Chennai.

Mission behind the startup

The mission of Get-A-Whey is to provide a guilt-free, healthy and delicious dessert option to people who are health conscious and fitness enthusiasts. The company is dedicated to promoting a healthy lifestyle by offering an ice cream product that is low in calories and high in protein. The founders of Get-A-Whey, Jash, Pashmi Shah, and their mother Jimmy Shah, believe in the benefits of whey protein and want to create a dessert option that not only satisfies one's sweet tooth but also provides a nutritious option.

The company has faced many challenges in its journey, but they have continued to innovate and improve their product. They have expanded their product range to include 12 different flavours, with 4 keto-friendly options. They are also planning to introduce low-calorie ice cream sandwiches and vegan products in the near future.

Target market

The target market of Get-A-Whey would likely be health-conscious individuals who are interested in fitness and maintaining a healthy lifestyle. This could include athletes, gym-goers, and individuals who are looking for guilt-free indulgences. The premium pricing of their products indicates that they are targeting a higher-end market. The fact that they offer keto-friendly options and are planning to introduce vegan products suggests that they are catering to a wide range of dietary preferences. Their online presence through their website and social media channels also suggests that they are targeting a tech-savvy audience who are comfortable making purchases online. Get-A-Whey is targeting individuals who are willing to pay a premium for a high-quality, healthy and guilt-free dessert option.

Revenue and Sales

Get A Whey, a startup that produces high-quality whey protein supplements, has seen a steady increase in revenue since its launch. The company's valuation currently stands at 12.5 crore rupees, with sales averaging around 22k-25k units per month.

Despite challenges posed by the COVID-19 pandemic, Get A Whey has managed to maintain its presence in Mumbai, Delhi, Gurgaon, and Pune. The company has been selling its products through both online aggregators like Big Basket, Amazon, Flipkart, Nature’s Basket, and offline sales, with online sales making up 70% of the total sales.

In FY 2018-19, the company had organic sales of about 15 lakhs, which increased to 50 lakhs in the FY 2019-20. In the financial year 2020-21, the company's sales jumped to 1.6 crore rupees and as of today, the sales stand at 2.2 crore. Get A Whey's projected sales for the FY 2021-22 are around 3.6 crore rupees.

The cost of one unit of Get A Whey's regular whey protein supplement is Rs. 130, while the keto-based supplement costs Rs. 175 due to the use of cream instead of milk. The company's gross margin is around 20%, with 31% of the cost going towards making the product, and 49% towards selling and general administrative expenses.

Despite the challenging market conditions, Get A Whey has managed to grow its business steadily by providing high-quality protein supplements to its customers. With its strong presence on online platforms and increasing demand for health and wellness products, the company is poised for further growth and success in the coming years.

Funding in Shark Tanks India

The startup Get-A-Whey presented their pitch to investors in Shark Tanks India, seeking Rs.1 crore in exchange for 8% equity in the company. However, the investors made counter offers, with Vineeta Singh offering Rs.1 crore for 15% equity, and Ashneer and Aman offering Rs.1 crore for 12% equity. Vineeta matched the offer of Ashneer and Aman, while Peyush and Anupam decided to back off.

Ashneer, Aman, and Vineeta then jointly counter-offered Rs.1 crore for 15% equity in the company, but the pitchers asked for Rs.1.5 crore in exchange for 15% equity or Rs.1 crore for 12% equity. Eventually, the final deal was struck with Ashneer, Aman, and Vineeta, who agreed to invest Rs.1 crore in return for 15% equity in the company.

The negotiations demonstrate the importance of finding the right investors for a startup. While some investors may have backed off, the ones who believed in the potential of Get-A-Whey were able to negotiate a deal that was mutually beneficial for both parties. With the infusion of funds, Get-A-Whey can now focus on growing their business and achieving their goals.

Journey after Shark Tanks India

The startup had been struggling to expand its reach and grow its sales. But after appearing on Shark Tank India, everything changed.

Before the show, Get-A-Whey was already doing well, with monthly sales of ?20 lakhs. But the exposure it gained from the show helped it to reach a wider audience and boost its sales. In the months following the show, the company's sales skyrocketed to around ?80 lakhs - ?1 crore per month.

With this new success, Get-A-Whey was able to expand its distribution from just 3 cities to a total of 19 cities across India. This allowed the company to reach more customers and generate even more sales.

The startup also used the funding it received from Shark Tank India to invest in new products and marketing campaigns. They introduced new flavors of their protein supplements and snacks, which helped to keep their customers engaged and excited about the brand.

Additionally, Get-A-Whey used social media to build a loyal following and connect with customers. They used Instagram and Facebook to showcase their products, share customer testimonials, and run promotions and giveaways.

As a result of their hard work and dedication, Get-A-Whey has become a well-known and respected brand in the protein supplement industry in India. They have continued to grow and expand their reach, and are now a major player in the market.

The journey of Get-A-Whey is a testament to the power of hard work, determination, and the right opportunities. With a strong product, a smart marketing strategy, and a bit of luck, any startup can achieve great success.