Two cousins stepped onto Shark Tank India to pitch their pickleball business, Goodland, confident that the sport was set to take off in India. In just nine months, their startup had generated nearly Rs 2 crore in revenue, and they projected an ambitious Rs 50 crore in the next two years. Seeking Rs 80 lakh for 4% equity, they valued their business at Rs 20 crore.
But the pitch quickly took a turn when the sharks questioned a key issue—co-founder Hemant’s unclear direction. Was Goodland focused on growing in India, or was it still tied to the US market, where Hemant resides?
Pickleball faceoff and a business model in question
To introduce the sport, the founders invited Anupam Mittal and Aman Gupta for a quick match. Aman won but admitted his obsession with padel, another emerging racket sport. The cousins clarified that padel courts are larger, while their business covered not just pickleball courts but also equipment manufacturing and club development.
Anupam, however, wasn’t convinced. He suggested the cousins take two more years to assess opportunities and advised them to focus on the US market. “You’re being opportunists,” he remarked. Kunal Bahl echoed this concern, saying he saw no clear vision and backed out, though he acknowledged the business potential.
Namita Thapar’s market lesson
Namita Thapar made her stance clear with a pointed comparison. “Why did Ford and GM fail in India while Hyundai and Kia succeeded?” When Hemant guessed costs, she corrected him. “Ford failed because they thought a copy-paste job would work here. Hyundai and Kia studied the market,” she said, warning that Goodland couldn’t simply replicate a US model in India. “You’re all over the place,” she added before backing out.
Aman Gupta steps in with conditions
Aman Gupta was the only shark willing to invest but set firm conditions—Goodland had to establish a club within two months, and Hemant had to spend at least six months in India. He offered Rs 80 lakh for 5% equity, plus a 1% royalty until his investment was recovered.
The founders countered, offering 6% equity while asking Aman to lower the royalty to 0.5%. Aman agreed, sealing the deal.
With investment secured but tough conditions in place, Goodland’s next challenge is proving it can navigate India’s market without falling into the same traps that brought other brands down.