Chalte Firte Mangal Karyalay Update | Shark Tank India Season 03
We have seen many innovative and out-of-the-box business ideas on Shark Tank India 3. Chalte Firte Mangal Karyalay was one of them. It provides a movable marriage hall equipped with everything required for ceremonial needs.
The founders of Chalte Firte Mangal Karyalay asked 2 crores for 10% equity. However, no sharks have invested in this company because of low market demand.
Are you curious about what happened to Chalte Firte Mangal Karyalay after Shark Tank? Here are the show updates on this company!
| Company Name | Chalte Firte Mangal Karyalay |
|---|---|
| Founders | Dayanand Darekar |
| Founded | 2023 |
| Product | Movable marriage hall |
| Ask | 2 crore for 10% equity |
| Deal | No deal |
| Sharks | No shark |
Chalte Firte Mangal Karyalay Update After Shark Tank
Dayanand Darekar (an entrepreneur from Latoor, Maharashtra) pitched in Shark Tank India 3, seeking a 2 crore investment in exchange for 10% equity. No sharks invested in Chalte Firte Mangal Karyalay because of low market demand.
However, their appearance on such a popular show went viral on social media platforms, and many popular news portals like Zee Business, Outlook India, Pune News, etc. covered their story.
When the show aired on Sony Television, the company got many inquiries from various parts of the country. However, they couldn’t fulfill all the orders due to limited resources.
As of March 2024, Chalte Firte Karyalay is operational, and the founders are looking for investment to expand their business. Our team is awaiting a response from the founders to know their plans. As soon we receive any information, we’ll update them here.
More unique business ideas from Shark Tank India Season 03:
About Chalte Firte Mangal Karyalay
Chalte Firte Mangal Karyalay caters to all ceremonial needs under one roof. It is a movable marriage hall which can accommodate up to 300 people.
The portable hall has all the necessary facilities, such as air conditioners, fans, decorations, lights, sound, etc. They have conducted more than 40 events until 2023.
This movable hall can be used for multiple purposes like family functions, events, or even as an emergency hospital setup.
The brand has posted a YouTube video that went super viral, and it got more than 15,000 inquiry calls.
The company’s vision is to provide a mobile marriage hall for areas where space issues are present to organize events.
Chalte Firte Shark Tank India Pitch
The founder started the pitch with an ask of 2 crores for 10% equity.
The sharks went on to physically inspect their movable hall. The founder revealed that an average mandap can cost up to 2 lakhs while they are providing this portable hall for just 50,000 Rs per day.
Namita: What is the capacity of this truck?
Founder: It can easily handle more than 300-400 people at a time.
The sharks were amused by seeing a replica of a wedding hall but on a moving truck.
Aman: I am so happy that so much innovation and unique things are happening in India.
Namita: Is this the first product of its kind in India?
Founder: Yes, we are the only one who provides such services.
Anupam then inquired whether there was a demand for such movable halls in India.
Founder: Yes, there is a huge demand. We are also planning to link multiple units of the movable hall to accommodate more guests.
Peyush: But what is the benefit of organizing a wedding in your truck?
The founder revealed that they are cheaper than traditional halls. He also said that many smaller towns and villages don’t have proper halls, so they provide them with them.
Founder: I even got a call from a customer who was willing to pay thrice the original amount for our truck. But we couldn’t accept that offer due to a lack of resources.
Anupam: How many trucks do you have?
Founder: We only have one right now. The cost of setting up one such truck is around 30 Lakhs. And, the truck costs 10 lakh.
Peyush then calculated their profit to be around 12 lakhs yearly if they do 2-3 monthly events. So, they will recover their set-up cost within 3-4 years,
The founder then revealed that he already has a Mandap Business, which generates 1 crore of profit every year. But now, his focus is mainly on this mobile marriage hall.
Aman: But why are you losing focus on a business that is already making you 1 crore?
Founder: I have already invested about 4 crore in this business, mainly for R&D. Our setup cost will decrease if we make it in bulk.
Peyush: Why do you want to increase your trucks? Instead, you can use the one you have and make money first.
The founder said that he could run the truck 30 days a month. But he needs multiple trucks in different locations. The founder has a vision to scale in all districts, and every district will have 25 trucks.
Founder: I will earn more than 4.5 crore every day if I manage to build that number of trucks.
Vineeta: Let me tell you the truth. If your one vehicle cannot do business for a month in a region, then your dream of scaling to other regions will not work.
Peyush: You should start scaling at one location first before moving to other locations.
Aman: I really liked you guys. But my suggestion is the same as that of other sharks. Concentrate on just one truck first. I am out for now.
Namita then raised safety issues in the truck. She also went out of the deal.
Peyush: Your idea is brilliant. You should try to move to a location with higher demand. Today, I am out as I won’t be of any help to you.
Vineeta: I am also out. You should not invest any more in it. Instead, scale it with one truck first and see if demand exists.
Anupam then said that the founder was slightly delusional with his idea. He does not accept the fact that there is no demand for it. He also went out of the deal.
Final Words
Chalte Firte Mangalkaryalay didn’t get any investment in Shark Tank India. The sharks were impressed with the idea. But, due to low demand, the sharks couldn’t invest in the product. The founder received some advice and a reality check from experienced entrepreneurs.
