- Entrepreneurs: Khushal Rathore
- Business: Outdoor Cycling Gym
- Ask: ₹ 50 Lakh for 10% equity
- Valuation: ₹5 Crore
- Result: No Deal
- Sharks: No Deal
- Episode: Not Aired
In the world of entrepreneurship, ideas are born out of a desire to solve real-life problems. Khushal, a determined entrepreneur, entered the Shark Tank arena with a vision to revolutionize fitness by addressing the challenge of daily life commitments. His solution: an outdoor gym subscription service, a concept that aims to bring fitness closer to home for urban dwellers. Although the sharks didn’t bite, Khushal’s journey tells a story of resilience, innovation, and adaptation in the fitness industry.
The Ashwa Pro Concept
Khushal’s pitch revolves around a unique fitness equipment concept—a fusion of a regular bicycle and a rolling machine. These in-house-manufactured bicycle rollers offer a distinct experience. Unlike traditional gym cycles, they provide a full-body workout while simulating the sensation of cycling outdoors. What sets Ashwa Pro apart is the integration of technology; users can monitor their live performance through a dedicated app. At the time of Khushal’s Shark Tank pitch, Ashwa Pro was still in the prototype stage, having been tested in two significant societies in Jaipur.
Shark Tank Negotiations
During the Shark Tank pitch, the sharks posed several critical questions. Vineeta questioned the differentiation between Ashwa Pro and smart trainers offering immersive virtual cycling experiences worldwide. Khushal emphasized the natural feel of his equipment, providing a road-like riding experience.
Aman inquired about Khushal’s investment in the venture, to which he revealed a substantial personal investment of approximately ₹15 lakh. Ashneer raised the idea of selling equipment rather than pursuing a service-based model. Khushal clarified that equipment sales were handled by a separate company, which had already sold 50-60 units, generating 6-7 lakh rupees in revenue.
Peyush, while trying the cycle, found it complicated, raising usability concerns. Ashneer expressed doubts about Khushal’s long-term commitment and vision, citing a reliance on ‘jugaad’ (innovative improvisation) rather than a solid plan. Ultimately, Ashneer decided to exit the deal, expressing concerns about the business’s sustainability post-COVID.
Aman followed suit, explaining that Ashwa Pro didn’t fit the tech-focused portfolio he sought. Anupam concurred, feeling that the concept added complexity for customers without providing a clear solution. Peyush, acknowledging the product’s niche appeal, also exited. Vineeta cited operational challenges as her reason for opting out.
Ashwa Pro After Shark Tank India?
In the aftermath of the Shark Tank pitch, it became evident that the subscription-based service model didn’t gain traction. However, Ashwa Pro persevered and shifted its focus to equipment sales.
Ashwa Pro expanded its product range, offering a variety of rollers designed to help individuals achieve their fitness goals. Popular products included the Shadowfax Bike Rollers and the Shadowfax Roller with Action Bridge.
The company also introduced trainers designed to provide a realistic cycling experience indoors. The Traveller Indoor Bike Trainer became a favorite among cycling enthusiasts.
Ashwa Pro’s commitment to quality is evident as they proudly manufacture their products in India, meeting global standards. They offer lifetime warranties on most products, along with robust customer support.
Source:
- Ashwa Pro
- Image source: Ashwa Pro Instagram