Flying Fur
Initial Ask – Rs. 75 lacs for 7% equity at a valuation of Rs. 10.71 Cr.
About the Company
A company playing in the sector of pet grooming products, they give all grooming services in a truck. These grooming services include bath, body massage, haircut and a lot more. Starting from a single truck, they have become the biggest mobile pet grooming chain in India currently. They are operating with 14 such grooming trucks in about 8 cities.
But, it is not a services company, it is a franchise business. Having catered to about 15000 pet parents till now, they have received repeat customers at a rate of 50-60%. They have booking sources on their website, but majority booking happens through calls. Thus, trying to capitalise on the fact that all these range of services cannot be provided at home itself, this company has visions to grow.
Past performance of the Company
They earn Rs. 2.5 lacs every month from each of their trucks.
Industry Overview
It has a very niche target audience because of the fact that the breed of pets that require such high professionalism in maintainance are very expensive and owned by a very minimum percentage of people in India. The fact that the services can be carried out by the Pet owner itself and he/she won’t want to pay someone else a premium to do it.This business model might be scalable in the Western Countries but it will not be a scalable industry in India. Initially it might gain a lot of traction in the Metro cities but it will reach its saturation point very easily and wont scale beyond that.
Offers made, and the one accepted:
No offers were made!