- Founder: Yogesh Chavan & Hemant Chavan
- Business: Pickleball
- Ask: ₹80 Lakhs for 4% Equity
- Valuation/ Networth: ₹20 Crores
- Funding: ₹80 Lakhs for 6% Equity + 0.5% royalties
- Sharks: Aman Gupta
- Episode: Season 4 Episode 18
Goodland Pickleball Shark Tank India Pitch:
Goodland Pickleball is an Indian Startup which appeared on Shark Tank India Season 4. The company focuses on promoting fastest growing sport in the world, Pickleball. Goodland Pickleball’s founders shared that the pickleball courts have expanded from 50 to 500 in India within a year. That is a 10X growth. This sport can be played by any ages. They sought an investment of ₹80 Lakhs in exchange for 4% equity in the business valuing the company at ₹20 Crores.
Goodland Pickleball is a one-stop solution provider for all things pickleball. They construct courts, sell equipment & have branded goodland clubs where customers can play Pickleball. The founders added that their net was the number 1 selling pickleball net in India at the time of their pitch. Goodland Pickleball’s courts can be booked through their on-site booking facilities and they also offer memberships.
Goodland Pickleball’s Financials & Revenue during Shark Tank India:
Goodland Pickleball constructs a court from ₹2-5 Lakhs depending upon the surface. The company have clubs both in India and the USA. The business, however, was separated into two different entities at the time of their pitch which the founders added will be combined after the show.
The company usually lease their land for their clubs and lease tenures are between 1-5 years. It costs the company ₹30,000 to ₹40,000 to construct a court. The payback period is 4-5 months in each court. each club has 3-6 courts. The business has only been operational for 9 months therefore he founders shared that they are still figuring things out.
The hourly rental for a court is ₹600-₹700 for 4-6 people. The brand is hoping to charge membership fees of ₹5,000 per month to use the courts. From January 2024 to September 2024, the company made a revenue of ₹1.9 Crores. 63% of that revenue came from their USA business.
For unit economics, 25% of revenue goes to rent. 20% goes to staffing, tech & maintenance takes another 5% leaving the company with an EBITDA of 50%. The company is projecting to close at ₹2.7 Crores for year-end. However, Next year, the founders are projecting a revenue of ₹15 Crores.
Goodland Pickleball Shark Tank India Negotiations & Funding:
Namita went out due to the founder’s focus on the US market. Anupam added that the entrepreneurs needed more clarity on what they were focusing on. Therefore, he went out. Ritesh shared the same sentiment, so he went out as well. Kunal also went out and he suggested founders to focus on US market first.
Aman was interested in the brand so he offered ₹80 Lakhs for 5% exchange and royalties for 1% until he makes his investment back. The founders countered with 6% equity and 0.5% royalties which Aman accepted and they shook hands on ₹13.33 Crore valuation.
Who are the founders of Goodland Pickleball?
Yogesh Chavan & Hemant Chavan founded Goodland Pickleball. Hemant is from Brooklyn New York and Yogesh is from Mumbai.
How is Goodland Pickleball doing after Shark Tank India?
Our research in the Goodland Pickleball revealed that while they did get a deal on the show, whether that deal closed is still unclear. Early signs show that their deal with Aman has fallen through but we will update this article once more information comes to light. In the meantime, you can check out their products by clicking the Amazon button below!
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