What Happened to The Honest Home Company After Shark Tank India?
What is The Honest Home Company?
The Honest Home Company is a brand that sells plastic-free cleaning products. They also sell paper products. These products can be used every day.
If you’re worried about pricing, don’t worry about it. Because the price is also affordable for most people.
Who is the Founder of The Honest Home Company?
Mayank Pratap Sisodia is the founder of The Honest Home Company. He’s from Uttar Pradesh. Mayank always used to believe that whatever we take from nature, we should return an equal amount back also.
Mayank completed his graduation from Punjab University. He also completed his MBA.
After completing study, he worked in multiple renowned MNCs like Parley, and Unilever. He worked in a startup also.
There’s another company called The Honest Company; Jessica Alba is the founder of that company. Don’t confuse this one with that.
The Honest Home Company Before Shark Tank India?
He started the company The Honest Home Company back in 2019. First, he launched aluminum foil, food wrapping paper, kitchen towels, etc. Later he launched dish wash, floor cleaner, hand wash, etc.
How much money did he ask for on the pitch?
He came to Shark Tank India seeking ₹1 Crore for 2% equity in the business. Which gives the company a valuation of ₹50 Crores.
How much money did he raise for The Honest Home Company?
He raised ₹2.25 Crores to start the company. He invested ₹1.25 Crore of his own money. His 3 friends invested ₹1 Crore for 20% equity in the company.
How to get The Honest Home Company?
One can get different products from The Honest Home Company using different quick commerce platforms. Retail stores also have them.
Unit Economics of The Honest Home Company
The products of The Honest Home Company are cost-effective. The average order value is ₹200. The customer repeat rate in Amazon is 33% & 16% in Blinkit.
| Price to Retailer Offline | ₹110 |
| Retailer Margin | 8% |
| Cost of Logistics | 8% |
| Branding | 15% |
| Contribution Margin | 24% |
| Other Expenses | 45% |
| Selling Price Online | ₹200 |
| Making Cost | 28% |
| Amazon Commission | 18% |
| Delivery & Miscellaneous | 37% |
| Contribution Margin | 17% |
What are the Annual Sales of The Honest Home Company?
The annual revenue of the company is ₹14 Crores. Monthly sales are ₹1.42 Crores. The net margin is 4.35%.
| Fiscal Year | Annual Sales |
| 2019 – 2020 | ₹1.82 Crores |
| 2020 – 2021 | ₹2.89 Crores |
| 2021 – 2022 | ₹4.9 Crores |
| 2022 – 2023 | ₹13.8 Crores |
Founders plan for future
Mayank has a plan for the next 2 years. He wants to replicate the same business model in Bangalore, Pune, Jaipur, and Lucknow. He’s planning to enlist his products in Zepto & Swiggy.
Which shark gave The Honest Home Company an offer?
Namita Thapar was out. She didn’t think the business could scale in the long run. That’s why she didn’t give any offer.
Vineeta Singh was interested in the business. She offered ₹1 Crore for 4%. Also, she wanted a 1% royalty on sales until ₹1.5 Crore is recouped.
Amit Jain was interested in the company. He matched Vineeta’s offer.
Anupam Mittal offered ₹1 Crore for 3%. Also, he wanted 1% royalty until 2 Crores is recouped.
Aman Gupta gave the same offer as Anupam Mittal.
| Offer 1 | Offer 2 | Offer 3 | Offer 4 |
| Vineeta Singh – ₹1 Crore for 4% & 1% royalty until ₹1.5 Crores is recouped | Amit Jain – ₹1 Crore for 4% & 1% royalty until ₹1.5 Crores is recouped | Anupam Mittal – ₹1 Crore for 3% & 1% royalty until ₹2 Crores is recouped | Aman Gupta – ₹1 Crore for 3% & 1% royalty until ₹2 Crores is recouped |
What deal did The Honest Home Company get in Shark Tank India?
The Honest Home Company got a deal in Shark Tank India from Amit Jain. The deal was ₹1 Crore for 3% and 1% royalty until ₹1.5 Crores is recouped.
| Company Name | The Honest Home Company |
| Founder | Mayank Pratap Sisodia |
| Asked Amount | ₹1 Crore for 2% |
| Final Deal | ₹1 Crore for 3% & 1% royalty until ₹1.5 Crores is recouped |
| Shark | Amit Jain |
| Company Net Worth | ₹33.33 Crores |
| Company Website | honesthome.in |
| Company Status | In Business |
What is the net worth of The Honest Home Company?
After the Shark Tank India deal, the net worth of The Honest Home Company is ₹33.33 Crores.
Is The Honest Home Company still in Business?
Yes, The Honest Home Company is still doing business.
