Unlock the Potential of Textile Business with Yarnbazar

Yarnbazar is a startup founded by Pratik Gadia, who hails from Mumbai. The company is an end-to-end B2B marketplace that aims to organize the unorganized textile business. The Yarn bazaar platform provides a one-stop solution for buying and selling yarn, which is a major pain point in the textile industry.

The textile industry has seen significant development in modern technology, but marketing, advertising, purchasing, and sales remain the pillars of any industry. Yarnbazar aims to streamline these areas of the textile industry by providing an organized platform for all stakeholders.

The Aim of the startup

One of the major pain points in the textile industry is the irregular supply chain, which affects both the top line and bottom line of the business. Yarnbazar aims to address this issue by providing a platform that connects buyers and sellers of yarn. This will help to ensure that the yarn supply chain is regularized, and businesses can have a more predictable revenue stream.

By organizing the unorganized textile industry, Yarnbazar aims to create a more efficient marketplace that benefits both buyers and sellers. The platform will make it easier for buyers to find reliable suppliers and for suppliers to reach a wider audience. Additionally, Yarnbazar's platform will help to eliminate the need for buyers to negotiate with multiple suppliers for prices and delivery, making the process simpler and more efficient.

Yarnbazar's aim is to create a more organized, efficient, and reliable marketplace for the textile industry. With Yarnbazar's platform, businesses will be able to streamline their operations and achieve greater success.

Business model

The business model of Yarnbazar revolves around providing an end-to-end solution for buying and selling yarn. The platform connects buyers and sellers and streamlines the supply chain, which is a major pain point for the textile industry.

Yarnbazar's business model is based on providing a convenient and efficient way for textile businesses to purchase yarn. The app interface is user-friendly, and buyers can easily put up a message about their needs. The staff then provides them with a quotation within the app itself, allowing buyers to decide what to buy, how much to buy, and where to deliver the products.

One of the unique features of Yarnbazar's business model is that they white-label yarns made by small industries. This allows small-scale manufacturers to reach a wider audience, which benefits both the sellers and the buyers. Yarnbazar also offers product development services, leveraging their expertise teams to develop and market new products in the textile industry.

Yarnbazar's business model is centered around providing a comprehensive and efficient solution for the textile industry. By streamlining the supply chain and offering product development services, they aim to organize the unorganized textile business and improve the top and bottom lines of their clients.

Sales and revenue

Yarnbazar is a startup that started its operations in 2019, just before the COVID-19 pandemic hit. The company has made a significant amount of transactions, with a total of 212 crores, and all of these transactions have been made with 100% advance payment. This shows that Yarnbazar has been successful in attracting buyers who are willing to pay upfront for their products.

In the last month, Yarnbazar has made a transaction of 10 crore, which shows that the company is continuing to grow and expand its operations. From this transaction, the company has generated a revenue of Rs.15 lakhs, which is equivalent to around 1.5% of the total transaction. This percentage may seem small, but it is still a good sign for the company as it indicates that they are making a profit on their sales.

Yarnbazar has generated about 1300 sales, which shows that they have a significant customer base. Moreover, it is also noteworthy that the company has fulfilled all the commitments made by both buyers and sellers. This indicates that Yarnbazar is a reliable and trustworthy platform, which can help them attract more customers in the future.

Yarnbazar seems to be a promising startup with a good track record of generating significant sales and profit. Their commitment to fulfilling all the commitments made by buyers and sellers can help them gain more customer trust and loyalty, which can help them grow their business further.

Funding on Shark Tanks India

The owner of the startup asked for 50 lakhs in exchange for 2% equity. However, the sharks were interested in investing more in the company and made several counter offers.

All four sharks, Anupam, Peyush, Ashneer, and Aman, gave a joint offer of 1 crore for 10% equity of the company. Pratik also made a counter offer of 1.25 crore for 10% equity. After some negotiations, the deal was closed with the four sharks for 1 crore for 10% equity of the company.

This means that Yarnbazar received funding of 1 crore from the four sharks in exchange for 10% of the company's equity. The funding will likely be used to help the startup grow and scale its business. The sharks, on the other hand, will benefit from the potential future profits of Yarnbazar and may provide additional support to help the company succeed.