Biography of Tanir Hassan: Founder and MD of Farmland Grow- Entrepreneur
Biography of Tanir Hassan:
Introduction to Fresh FROO
Tanir Hassan, the Managing Director of Farmland Grow,
introduced the Sharks to Fresh FROO, a brand dedicated to producing
hormone-free, high-quality frozen fish. Their innovative Individual Quick
Freezing (IQF) technology ensures premium and authentic products for consumers.
With certifications like 202 and up, the brand prides itself on offering the
freshest frozen fish in the market.
Biography of Tanir Hassan: Founder and MD of Farmland Grow- Entrepreneur/age/net worth/investor/startup/shark tank/Hormone-free frozen fish
Growth and Sales
Milestones
Fresh FROO has shown remarkable growth, with last year’s
sales reaching ₹2.42 crore and the previous month alone generating ₹42 lakhs in
revenue. Currently, they operate two outlets in Dhaka, strategically located in
Shahsuna Oval and Uttara Sector. Their pitch to the Sharks requested an
investment of ₹1 crore in exchange for 5% equity in the company.
The Farmer Network
The company works with 51 contract farmers located in Bagad.
These farmers are vital to their supply chain, ensuring a steady production of
high-quality fish. Through clear agreements and strong relationships, Fresh
FROO maintains a sustainable and ethical approach to farming.
Discussions with Super Shops
Tanir shared that Fresh FROO had initiated discussions with
major super shops in Bangladesh. While the super shops expressed great interest
in their products, the team decided to proceed cautiously. They are
prioritizing their standards, focusing only on partnerships that align with
their long-term goals.
Competitive Edge in a
Crowded Market
Despite the saturated frozen food market, Fresh FROO stands
out by leveraging advanced IQF technology. Unlike competitors, they prioritize
maintaining the natural taste and nutritional value of their fish, giving them
a competitive edge both locally and internationally.
Taste Test and
Feedback
During the pitch, the Sharks tasted samples of Fresh FROO
products and appreciated the quality. However, some Sharks expressed concerns
about the crowded nature of the frozen food industry and opted out due to their
lack of expertise in the sector.
Negotiating the Deal
One Shark expressed keen interest, but negotiations became
intense. The Shark proposed an investment structured in tranches with a royalty
component and a higher equity stake of 25%, significantly above the 5%
initially requested. Fresh FROO countered with an offer of 8%, but the Shark
stood firm at 20%, leading to a challenging negotiation.
A Tough Decision
The Fresh FROO team found the Shark’s revised offer of 20%
equity too steep. Despite attempts to negotiate, both parties failed to reach a
middle ground. The founders prioritized the long-term vision of their business
over immediate funding, showcasing their resilience and commitment to their
goals.
Acknowledgment and Support
Although the deal didn’t materialize, the Sharks commended
Fresh FROO for their innovative approach and market potential. They encouraged
Tanir and his team to continue exploring international markets and wished them
success in scaling their business.
Moving Forward
Fresh FROO left the Shark Tank stage without an investment
but with valuable feedback and confidence in their business model. Their
journey exemplifies the entrepreneurial spirit, highlighting the importance of
sticking to one’s vision while remaining open to future opportunities.
A timeline for the Fresh FROO story:
Introduction to Fresh FROO - Hormone-free frozen fish using
IQF technology; certifications ensure premium quality.
Growth Milestone - Achieved ₹2.42 crore in annual sales; ₹42
lakhs in monthly revenue.
Outlets - Operates two outlets in Dhaka: Shahsuna Oval and
Uttara Sector.
Farmer Network - Collaborates with 51 contract farmers in
Bagad for ethical and sustainable fish production.
Super Shop Discussions - Initiated partnerships cautiously
to prioritize long-term goals.
Competitive Edge - Stands out with advanced IQF technology
preserving taste and nutrition.
Taste Test - Sharks praised product quality but noted market
saturation concerns.
Negotiation - Shark proposed 25% equity; Fresh FROO
countered with 8%; talks ended at 20%.
Decision - Founders declined the deal, focusing on their
long-term vision.
Acknowledgment - Sharks encouraged global scaling; no
investment but gained valuable feedback.
Future Plans - Committed to growth and exploring new
opportunities in international markets.
