What Happened to Fit & Flex After Shark Tank India?
What is Fit & Flex?
Fit & Flex is a food brand that offers a bunch of products under its umbrella. Like, Granola, Mini Bites, Multigrain Mixture, Muesli, Oats, etc. It offers food that is both healthy and tasty.
It offers oat-based breakfast cereals and different snacking products. Currently, Fit & Flex has 35 SKUs. Granola is the hero product.
Some of the key USP of Fit & Flex are,
- Real freeze-dried fruits
- Added prebiotic fibres
- Premium nuts
- Premium seeds
- Low sugar
Who is the Founder of Fit & Flex?
Pathik Patel is the founder of Fit & Flex. He’s a marathon runner like Vineeta Singh. He recently ran the Berlin marathon with a timing of 3:50. His personal best in marathon is 3:34.
He started running at the age of 34 ~ 35.
Besides Fit & Flex, he also runs a business in the cotton and chemical industry. The annual revenue of that business is ₹800 Crores.
Equity split of Fit & Flex
| Pathik | 34% |
| Partners | 33% |
Fit & Flex Before Shark Tank India?
He started the company back in December 2019.
Fit & Flex has its own state-of-the-art manufacturing facility. This facility is basically European machinery. Using the machinery Fit & Flex can slow-bake the products in 360 degrees. This gives Fit & Flex an extra edge over its competitors.
The CapEx for the European machinery is ₹15 Crores.
How much money did he ask for on the pitch?
He came to Shark Tank India seeking ₹1 Crore for 3% equity in his company Fit & Flex. Which gives the company a valuation of ₹33.33 Crores.
How much money did he raise for Fit & Flex?
He used the profit from another business to fund this Fit & Flex initially. He didn’t raise any money from any outside investors. The debt for the factory is ₹6 Crores.
How to get Fit & Flex?
You can get Fit & Flex products from their website. They are available in more than 6,000 stores. They are also available in different ecommerce stores also.
Fit & Flex is also available in 500 UAE stores.
Unit Economics of Fit & Flex
The monthly profit of Fit & Flex is 7 ~ 8%.
| COGS | 27% |
| Distribution margin | 32% |
| GST | 18% |
| Logistics | 4% |
| Salary | 8% |
| Marketing | 6% |
| EBITDA | 5% |
What are the Annual Sales of Fit & Flex?
| Fiscal Year | Annual Sales |
| 2019 – 2020 | ₹12 Lakhs |
| 2020 – 2021 | ₹2.28 Crores |
| 2021 – 2022 | ₹2.9 Crores |
| 2022 – 2023 | ₹4.6 Crores |
| 2023 – 2024 | ₹8 Crores Projected |
Sales split of Fit & Flex
| Offline | 70% |
| Online | 30% |
Which shark gave Fit & Flex an offer?
Aman Gupta was out. He had problems with the founder running 3 businesses at the same time.
Vineeta Singh was out for the same reason.
Deepinder Goyal was out. He wasn’t okay with the marketing claim of the brand that it’s a healthy snack.
Anupam Mittal was out.
Namita Thapar initially offered him ₹25 Lakhs for 2.5% equity & ₹75 Lakhs debt at 10% interest for 3 years. She valued the company at ₹10 Crores. But when she realized that the machinery was not part of the company, she pulled out of the deal.
What deal did Fit & Flex get in Shark Tank India?
Fit & Flex didn’t get any deal in Shark Tank India.
| Company Name | Fit & Flex |
| Founder | Pathik Patel |
| Asked Amount | ₹1 Crore for 3% |
| Final Deal | No Deal |
| Shark | No Shark |
| Company Net Worth | ₹33.33 Crores |
| Company Website | fitandflex.in |
| Company Status | In Business |
What is the net worth of Fit & Flex?
The net worth of Fit & Flex is ₹33.33 Crores.
Is Fit & Flex still in Business?
Yes, Fit & Flex is still in the relatively healthy snacking business.
