Damanbir Singh is the founder of the company named Lil Goodness .
PERSONAL INFORMATION
Damanbir Singh is from Chandigarh and owns 8% equity in the company. The birthdate of Damanbir Singh’s is unknown. There is no information available on his parents’ names, hometown, or private life.
PHYSICAL APPEARANCE
Height :- 5’5
Weight :- 75Kg
Hair Color :- Black
Eye Color :- Black
EDUCATION
His educational background is unknown.
ABOUT THE COMPANY
Products from Lil Goodness are developed with ethnically specific ingredients including teff from Africa, turmeric from India, and unique plant fibre from chicory roots. The most popular chocolate is combined with these goods. Lil goodness is created by combining classic and contemporary elements. The benefits of their many products include Prebiotic milk chocolate’s inclusion of turmeric and its 35% reduction in sugar. The cumin component of turmeric is removed and covered up by chocolate.
They only utilise cocoa butter that is 100% cocoa.
Teff puff is made up of 45% supergrains, 23% teff, and 23% quinoa.
Shakes made with oats have 50% less sugar.
The business began operations in March 2020.
SHARK TANK
At a worth of 100 crores, the owners demand 1 crore for 1% of the company. The cost per chocolate is twenty.
Sales total 1.45 crores each month. 60% of total sales are made up of chocolate, 20% are milkshakes, 15% are tuffs, and 5% are milk mixes.
The gross margin for chocolates is 69%, for milkshakes 64%, for puffs 70%, and for milk mixtures 59%. Gross margin combined is 66%. Burn is 30 lakhs every month.
Out of a total of 1.56 crores in monthly expenses, 47 lakhs are COGS, 23 lakhs are spent on logistics, 19 lakhs on marketing, 27 lakhs on salaries, 12 lakhs on distribution, and 25 lakhs are spent on one-time expenses. They have so far raised 11.5 crores in funding, and 48% of their stock is diluting.
Peyush made a proposal of Rs. 50 lakhs for 1% ownership and Rs. 50 lakhs in debt at 12% interest.
Owners countered with a bid of Rs. 50 lakhs for 1% ownership and Rs. 50 lakhs in debt at 10% interest.
With Peyush, a definitive agreement was reached for 50 lakhs at 1% equity and 50 lakhs in loan at 10% interest.
