Introduction:
In the world of chewing gum, a revolutionary product has emerged – Gud Gum. Founded by the dynamic duo of Mayank and Bhuvan, Gud Gum aims to transform the chewing gum industry with its commitment to sustainability, health, and unique flavors. In this blog, we delve into the detailed transcription of their pitch on Shark Tank, exploring the challenges they faced, the uniqueness of their product, and the promising future they envision for Gud Gum.
The Plastic Menace:
Mayank and Bhuvan kick off their pitch by shedding light on a major concern in the chewing gum industry – the presence of plastic compounds, particularly PV A Polyvinyl Acetate, in most gums. They emphasize the environmental impact of these compounds, stating that a small piece of cloth from regular gum takes over 100 years to biodegrade. Enter Gud Gum, India’s first plastic-free, 100% natural chewing gum made from the sap of the Chikhale tree.
The Gud Gum Difference:
The founders proudly introduce their product, highlighting its biodegradability, thanks to the Chikhale tree sap. They assure the Sharks that Gud Gum doesn’t stick to surroundings like regular gums and comes in exciting flavors such as Chocolate, Raspberry, Cinnamon, and Lemon. The use of essential oils, fruits, extracts, and natural sweeteners makes it kid-friendly and diabetic-friendly.
Also Read : Shark Tank India 3 | Exciting Deal with Koparo Clean
Environmental Impact:
Mayank and Bhuvan share their remarkable achievement of saving over 850 kg of plastic from entering the environment through Gud Gum. They express their vision of making Gud Gum a legacy brand that endorses not only the joy of chewing gum but also its health benefits and positive environmental impact.
The Shark Tank Pitch:
Entering the Shark Tank, the brothers present their case to potential investors, seeking guidance and funding. They stress the importance of replacing conventional gum with Gud Gum and express their commitment to creating a brand synonymous with health and sustainability.
Meet the Founders:
Mayank, with a background in Chemical Engineering and a Master’s in Food Science, shares his journey of curiosity about food ingredients. Bhuvan, a graduate in Marketing and Entrepreneurship, highlights his inclination towards sustainability and experience in hydroponics. The unique combination of their skills and passions led to the birth of Gud Gum.
Challenges and Innovations:
The founders address challenges such as packaging and justify the use of minimal plastic in the current scenario. They also discuss ongoing research on delayed release gum and a new sustainable flavor.
Financials and Growth:
Bootstrapped initially, Gud Gum reports profitability, with a projection to close the year at Rs 1 crore in revenue. They detail their pricing strategy, emphasizing the quality of ingredients despite the higher cost.
Shark Tank Offers and Negotiations:
The Sharks express concerns about the competitive market, but the founders stand firm on their vision. An offer from the Sharks includes Rs 50 lakh at 10%, with additional royalty. Negotiations ensue, with the founders eventually securing a deal of Rs 80 lakh at 10%, with a 5% royalty reduced to 4%.
Click Here to Checkout Shark Tank Judge’s Biography!
Conclusion:
Gud Gum’s journey on Shark Tank reflects the resilience of two brothers determined to make a positive impact on the chewing gum industry. With a commitment to sustainability, health, and innovation, Gud Gum aims to be more than just a product – it aspires to be a movement towards conscious chewing. As they embark on this exciting journey, we eagerly await the widespread adoption of Gud Gum as a symbol of positive change in the world of confectionery.
Leave a Reply