Episode 1 :-
The Honest Home Company which features in Shark Tank India wants to drive India into zero-plastic and free of toxic daily uses of plastic.
The primary goal of the company is to reduce plastic use in India as a result plastic waste is also reduced. The company’s core idea is to provide plastic-free packaging for household products and eco-friendly packaging for daily used products. In the initial days, they started their journey with the founder Mr Mayank Sisodia, and his three friends with a 20% equity investment.
| Attribute | Details |
|---|---|
| Company Name | The Honest Home Company |
| Founders | Mayank Sisodia |
| Headquarters | Sonipat, Haryana |
| Founded Year | 2019 |
| Business | Organic Everyday Products |
| Profitability | Yes, profitable |
| Shark Tank Episode | Season 3 – Episode 1 |
| Asked For | INR 1 crore for 2% equity |
| Deal | INR 1 Crore for 3% equity With 1% Royalty Until 1.5 Cr. Is Recouped |
| Sharks Invested | Amit Jain |
| Valuation Given | INR 33.33 Crores |
| Website | https://honesthome.in/ |
The Honest Home Company Owner
Mr. Mayank Sisodia is the owner of the Honest Home company and has an experience of 10 years in the FMCG sector
As their three friends also have 20% equity and now Mr. Amit Jain a shark judge from Shark Tank India has an equity of 3% with 2x of investment return.
During his sales days at Unilever, Mayank Sisodia worked in the department dealing in home essentials products like liquid detergent and cleaners and felt concerned about the plastic bottling used for packaging, Passionate about sustainability, he eventually launched The Company, which makes green and healthy household essentials like powder-to-liquid kitchen and floor cleaners, food wrappers and personal hygiene items like tissue paper, napkins etc, all delivered in recycled, plastic-free packaging.
What is the turnover of an honest home company?
In terms of investment, Mayank proposed a deal of 1 Cr for a 2% equity, valuing the company at 50 crores. There was positive feedback on the packaging design. However, the low-profit margin of 4% raised issues for the sharks, despite good sales of ₹14 crores in FY 2022-23 with a 33% customer repeat rate
Mr.Mayank Pratap Sisodia shows how he innovated a floor cleaner that is in powder form and can be easily mixed with water for use.
while the average floor cleaner costs around 225 rs per liter, their product can be prepared at a significantly lower cost, around 70 rs per liter.
The company offers a wide range of products that are manufactured with organic raw materials and free of toxic chemicals such as napkins, facial tissues, food wrapping papers, and kitchen hygiene products So that consumers can get eco-friendly products.
Best-selling products of the honest home company
If you want to reduce the consumption of single-use plastic items such as plastic bags, bottles, utensils, and packaging. Opt for reusable alternatives, and for that, the Honest Home company has some great alternatives.
The Honest Home company is known for its Eco-friendly products and packaging, Some of the best-selling products of Honest Home are given below:-
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Shark tank India full episode of The Honest Home Company
Conclusion
The company wants to take full advantage of the exposure of the shark tank, the company has a great goal to make the planet eco-friendly and plastic-free or reduce the consumption of plastic, this company can make a change because of its honesty, ethics, and a profound respect for the environment. In conclusion, each product of this company represents a step towards a plastic-free future.
Frequently Asked Questions
Are The Honest Company products safe?
The products of the company use little or no plastic and are Non-toxic. The products do not harm first, BPA-free, non-toxic, and sourced organically they are gentler for everyone. Eco-friendly and reduces plastic waste. But in some products chemicals are used as per the founder Mr Manish Sisodia.
What Happened to Honest Homes after Shark Tank India?
The Honest Home Company got investment from Amit Jain to grow its business. The Honest Home Company gets sales for their products both from offline markets and platforms like Blinkit, Amazon, and others. They made a revenue of 14 Crores with an initial investment of 2.25 Cr.
What Is The Valuation of The Honest Home Company?
The Honest Homes Company has a valuation of 33.33 Cr after the investment made by Mr. Amit Jain (Shark Tank India judge).