Biography of Parth Sachdeva: Founder & CEO of Schickwheel -Entrepreneur
Schickwheel’s Journey: A Vision for Mobile Kitchens and a Shark Tank Pitch
A Passion for Innovation
Parth Sachdeva, a 32-year-old entrepreneur from Delhi, is
the founder of Schickwheel, a company specializing in manufacturing food
trucks, kiosks, and kitchen appliances. With an MBA in Marketing from Symbiosis
University, Parth's passion for innovative solutions in the food industry led
him to establish Schickwheel in 2016. His mission is to provide high-quality,
portable culinary setups that empower food entrepreneurs to launch and scale
their businesses with ease.
Building a Business from the Ground Up
Before founding Schickwheel, Parth worked as the Head of
Marketing at Relief India Hospitality Solutions. This experience helped him
understand the industry’s challenges and identify a gap in the market for
customized mobile food solutions. He decided to take the plunge into
entrepreneurship, creating a brand that would revolutionize the food truck
industry in India.
Meeting the Demand for Mobile Kitchens
Schickwheel was established to cater to the growing demand
for mobile food businesses. The company designs and manufactures custom food
trucks, kiosks, and kitchen equipment, allowing entrepreneurs to start their
own ventures without the high costs of renting a traditional restaurant space.
Their solutions offer flexibility, mobility, and efficiency, making them a
preferred choice for aspiring food business owners.
Diverse Product Offerings
The company provides a range of products tailored to
different business needs. Their portfolio includes fully equipped food trucks
and trailers, compact kiosks for high-footfall areas, industrial-grade kitchen
equipment, and portable food carts for smaller vendors. By offering multiple
options, Schickwheel ensures that food entrepreneurs have the right tools to
set up and operate their businesses successfully.
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A Growing Industry
The food truck industry in India has been expanding rapidly,
offering an affordable alternative to traditional restaurants. As urbanization
and demand for quick, high-quality food continue to rise, businesses like
Schickwheel play a crucial role in supporting new entrepreneurs. The company’s
focus on innovation and quality has positioned it as a key player in this
growing sector.
Revenue Streams and Market Strategy
Schickwheel generates revenue from various product
categories, with food trucks and kiosks each contributing 35% to total sales,
kitchen equipment accounting for 22%, and food carts making up the remaining
8%. This diversified business model allows the company to cater to different
segments of the food industry while maintaining steady growth.
Entering Shark Tank India
Hoping to secure investment for expansion, Schickwheel’s
founders, Parth and Rishabh Sachdeva, appeared on Shark Tank India Season 4.
They presented their business model and sought ₹75 lakh for 1% equity, valuing
the company at ₹75 crore. Their goal was to scale production, improve
marketing, and expand their reach across India.
Challenges in the Pitch
During the pitch, the sharks raised concerns about
Schickwheel’s pricing strategy and competitive positioning. Anupam Mittal
pointed out that similar food trucks were available at half the price,
questioning how the company planned to stay ahead in the market. The founders
defended their pricing by highlighting superior quality and customization
options.
Advice from the Sharks
Peyush Bansal suggested that Schickwheel simplify its
product offerings to streamline operations and make the business more scalable.
The sharks agreed that while the company had strong sales, its long-term growth
potential depended on optimizing pricing and improving cost efficiency.
The First Offer
Vineeta Singh was the first to extend an offer, proposing
₹75 lakh for 10% equity. This significantly lowered Schickwheel’s valuation,
making it far less than the ₹75 crore the founders had initially projected. The
offer forced them to reconsider their expectations.
Aman Gupta’s Nostalgic Connection
Aman Gupta, co-founder of boAt, shared a personal story
about how he and his wife used to enjoy food from a street vendor’s truck.
Inspired by this, he offered ₹75 lakh for 5% equity, a valuation still lower
than what the founders wanted but more reasonable than Vineeta’s offer.
Failed Negotiations
The founders hoped to negotiate with Kunal Bahl, believing
they could strike a better deal. However, Kunal felt that their unwillingness
to compromise on valuation could be a roadblock to securing investment. The
sharks emphasized that flexibility was crucial in building a scalable and
investable business.
No Deal, but Valuable Lessons
Despite strong sales and a promising future, Schickwheel did
not finalize a deal on Shark Tank India. The sharks believed the company needed
to revise its pricing and growth strategy before seeking investment. However,
the experience gave the founders valuable insights and exposure, reinforcing
their confidence in their vision.
Looking Ahead
Schickwheel continues to grow, learning from the feedback
received on the show. While they did not secure funding, their appearance on
Shark Tank India helped them reach a wider audience. By refining their business
model and focusing on competitive pricing, they aim to establish themselves as
a leading name in India’s food truck manufacturing industry.
Timeline for story
2016 – Parth Sachdeva founded Schickwheel.
2016-2019 – Developed and refined mobile food business
solutions.
2020 – Expanded product offerings, including kiosks and
kitchen equipment.
2022 – Schickwheel established a strong presence in the food
truck industry.
2023 – Revenue diversification with food trucks (35%),
kiosks (35%), kitchen equipment (22%), and food carts (8%).
2024 – Appeared on Shark Tank India Season 4, seeking ₹75
lakh for 1% equity.
2024 – Faced pricing concerns from sharks, received offers
but did not secure a deal.
2024-Present – Continued business expansion with a refined
strategy.
