Shark Tank India Season 3: Sharks judge Aman offered 'Zorko' a deal and then tore up the Cheque, But Why?

5 Dariya News

02-Feb-2024

Shark Tank India Season 3: In India, Zorko is a fast-growing chain of reasonably priced vegetarian fast food that offers a franchising concept to make it easier for people to launch their food enterprises. During the COVID-19 pandemic, Zorko joined the quick-service restaurant industry. After successfully navigating several obstacles, it eventually launched a franchising model.

Their low-investment chef-less cooking approach, in-house manufacture of sauces and syrups, and lack of royalty or profit-sharing are important aspects of their franchise business. Similar to Zorko, you may sign up for Alippo's culinary school if you wish to launch your own food business.

Why Did Shark Aman Tear The Cheque Given To Zorko?

Ritesh consented to accompany Aman when he inquired whether he would want to invest. They value ZORKO at ₹20 crores and make an offer of ₹20 lakhs for 1% stock and the remaining amount as loan at 10% interest. Not to mention, the loan would have a three-year duration.

After pausing for thought, entrepreneurs return to counter Aman & Ritesh at 1% in exchange for 100 hours of mentoring. Aman declined, saying he couldn't dedicate himself to a set amount of hours, and they stuck with their original proposal. Ritesh consented to devote 50 hours in exchange for 1% advisory shares and ₹1.5 crores in debt at a 10% interest rate, as per the founders' continued efforts, but Aman declined. The founders were undecided about their proposals, so Anand again pressed Aman for commitment; when he heard that, he left, and Ritesh left too.

The Third Season of Shark Tank India Featuring Zorko

When Zorko made an appearance on Shark Tank India Session 3, his adventure reached new heights. The creators took a risk when they shared their ideas and asked for funding to support future development. Their request for 1.5 crore for a 2% stake demonstrated their belief in Zorko's potential and attracted interest from both investors and spectators.

Read More: Aman Gupta Net Worth

Zorko Pitch In Shark Tank India

ZORKO is an Indian business that specializes in 100% vegetarian fast food and made an appearance on Shark Tank India Season 3 Episode 7. 150 of their food establishments had opened in the 17 months since their founding at the time of their proposal. Additionally, they advertise that they are an inexpensive food franchise network that offers a wide variety of food goods at low costs, with over 80 different types available through their locations. They were accessible in six states and more than 42 cities throughout India.

Their goal is to open 1000 stores around India in the next 1000 days, and they intend to ultimately get into catering. To do this, the founders valued their firm at ₹150 crores and requested an investment of ₹1.5 crores in exchange for 1% of it.

About Zorko

Zorko entered the Quick Service restaurant industry during the COVID-19 pandemic, and their first strategy was quite straightforward. They developed the franchise concept after developing their own company and overcoming several obstacles.

If we talk about a few other noteworthy details regarding their franchise model: It does not share profits or impose royalties. They produce sauces, syrups, and premixes internally. They have modest investment requirements, a chef-less kitchen style, and other advantages.