Sairaj Dhond passion for doing something extraordinary made him land at jackfruit aka his jackpot. After spending a huge amount of time in his backyards he realised that jackfruit is highly nutritious & has many fibres, vitamins & minerals making it a perfect edible item for vegetarian individuals. After performing thorough research on jackfruit he found that this fruit is best suitable for diabetic patients and exhibits a high nutritious value. It was then he introduced Wakao Foods during Covid-19. Even though he started during the most chaotic period, that didn’t stop him from achieving his business goals.
By collecting information from different segments & indulging in in-depth analysis about processing technology, farmers who grow jackfruit every year, best areas for jackfruit growth, etc. he created a strategic business plan for supplying good-quality jackfruits. As of today’s date, Sairaj Dhond bootstrapped startup venture Wakao Foods is worth Rs 15 crores and has a net margin of 50%. There are 27 offline stores in Goa & he has also been actively collaborating with more than 30 restaurants & cafes in India. So far the journey has been blissful and a bit challenging for Wakao Goods but Sairaj is willing to give 100% & make his business a global recognition.
Wakao Foods Impressive Pitch: Shark Tank India
Sairaj’s pitch was spectacular and was even one of the best pitches in Shark Tank India Season 1. All three female sharks (Vineeta Singh, Ghazal Alagh & Namita Thapar) had invested in Wakao Foods. The final deal was closed at 75 lakhs for 21% equity after several discussion rounds between the Founder (Sairaj Dhondh) & the sharks.
Pitch Flashback Story
In his pitch, Sairaj stated that according to him almost 80% of Indian people have consumed jackfruit since childhood either as a sweet or savoury item. He also said that he wants to grow his jackfruit business worldwide with a promising vision of delivering original & high-quality products. After hearing his pitch & tasting his products, Sharks offered him three different deals.
The first deal was offered by Vineeta, Namita & Ghazal where they agreed to invest 75 lakhs for 30% equity. On the other hand, Peyush offered him two debt deals,i.e, 15 lakhs for 5% equity & 60 lakhs debt at 12% interest and 25 lakhs for 5% equity & 50 lakhs debt at 12% interest. Sairaj’s ultimate goal was to grow his business and hence he considered going for the former deal. He then gave a counter offer to female sharks of 75 lakhs for 15% equity in Wakao which they didn’t agree upon and offered 75 lakhs for 21% equity. Subsequently, he again counter-offered Rs 1Cr at 20% equity.
The female sharks again had a discussion but didn’t want to cross their threshold limit hence offered him 75 lakhs for 20% equity but eventually, the deal was closed at 75% lakhs for 21% equity & sharks promised Sairaj that as a team all of them will support him throughout to upscale his business in India & international waters.
Wakão Budget-Friendly Products & Combos
Wakao believes in the best utilisation of natural ingredients which has made it one of the best vegetarian brands in India. All the jackfruit products manufactured by Wakao Foods have a 12 months shelf life and can be straightaway cooked once taken out from the packet. The rates are quite affordable and they offer very interesting combos so that customers can taste multiple jackfruit products at a friendly price. They deliver the product within a day in all the cities except Bangalore. The delivery timeline for Bangalore ranges approximately around 24-48 hours. Coming to the products now, have a look at them and what sets Wakao Foods aside from other vegetarian brands.
- Lower fat & cholesterol-free mock meat
- Consists relevant percentage of carbohydrates, protein, vitamins, minerals & fibres in each product
- No refrigeration & additional preservatives
- 100% locally-sourced mock meat
- Starter Pack: If you’re trying jackfruit for the first time then opt for this pack which comprises 3 products ,i.e, BBQ Jack, Teriyaki Jack & Butter Jack each of 300 grams. Price: Rs 900
- Supreme Burger Patty Double Delight: Bored with that normal aloo and paneer patties then hold on order this lip-smacking & delicious jackfruit double Patty right now. This pack offers 4 patties of 100 grams each and is a treat for jackfruit & vegetarian lovers. Price: Rs 750
- Highest Selling: This combo does complete justice to its name. There are 3 products available ,i.e, Raw Jack, Butter Jack & Jack Supreme Burger Patty each of 300 grams, 300 grams & 400 grams respectively. You can eat the raw & butter jackfruit with steamed rice or chapati which is undoubtedly a deadly Indian combo. The burger patty can be stuffed in a burger bun along with loads of green vegetables for a healthy snack. Price: Rs 900
Apart from these three best-selling combos, there are other 5 types of combos too under different price ranges. Have a look at them in the below mentioned table. All these vegan-friendly jackfruit products can also be purchased separately from the Wakao Foods website or Amazon, Flipkart, CRED, BigBasket, BlinkIt, and VeganDukan. They offer pan-India shipping and aspire to deliver products early so that customers can enjoy these amazing products & fix their hunger cravings.
|Tasty Treat||Burger Patty (400g)+ Butter Jack (300g) + Teriyaki Jack (300g)||Rs 950|
|Master Of All Jack||Raw Jack+BBQ Jack+ Butter Jack+ Teriyaki Jack||Rs 1080|
|Ultimate Combo||Butter Jack + Raw Jack + BBQ Jack + Teriyaki Jack + Jack Supreme Burger Patty||Rs 1500|
|The Sausage Combo||American Herbs Sausage + Hot & Spicy Sausage||Rs 650|
|Everything Or Nothing||Butter Jack + Raw Jack + BBQ Jack + Teriyaki Jack + American Herbs Sausage + Hot & Spicy Sausage + Continental Jack Burger Patty + Jack Supreme Burger Patty||Rs 2500|
Wakao initially stepped into the market as a D2C brand in October 2020 but later on spread its masses in the B2B space as well. Some of the renowned hotel brands like Oberoi, Hilton, JW Marriott, The Grand Hyatt & Radisson have been Wakao’s clients for the past few years. The majority of its revenue comes from HORECA businesses. In terms of sales, Wakao has been witnessing 25% growth every month & now is planning to spread its business across the international market as well. Apart from funding received from three female sharks on Shark Tank India, Sairaj Dhondh is looking forward to raising decent funding from some leading angel investors, businesses and HNIs in the future. Once formal discussions are over and samples get confirmed, then Wakao Foods will make its base in foreign vegan markets swiftly.
Frequently Asked Questions (FAQs)
Q) How many types of jackfruit products are available at Wakao Foods?
Ans: There are 8 types of Jackfruit products delivered by Wakao all across India. The products are named Butter Jack, American Herbs Sausage, Raw Jack, Teriyaki Jack, BBQ Jack, Continental Jack, Jack Supreme Burger Patty, Burger Patty & Hot & Spicy Sausage.
Q) In which international countries Wakao Foods is willing to step in 2023?
Ans: Wakao has been aiming to spread its mock meat business in New Zealand, European, France, Germany, Austrian, and other 15 international grounds in the upcoming years.
Q) What was the brand turnover for Wakao in 2022?
Ans: There are no exact reports as such but it was extremely close to achieving the 1Cr turnover in 2022. Here, restaurants, cafes, and hotel chains have played a pivotal role by pushing Wakao sales by 20% each month. These sectors are the core purchaser of Wakao products in Goa & other cities.
Q) Which channel brings maximum sales for Wakao?
Ans: Wakao has successfully set its mark in the plant-based industry. The main source of its customers comes from online channels which sum up around 60% and that too increases by 25% each month.