Biography of Yash and Vaishali Mehta: Founder & CEO of Joyspoon -Entrepreneur
Biography of Yash and Vaishali Mehta:
Beginning of Joyspoon
Yash and Vaishali’s journey together began in their high
school days, where they shared a deep connection and common dreams. They grew
up in Pali, Rajasthan, and later moved to different places for higher
education. Yash, passionate about entrepreneurship, pursued a career in
business, while Vaishali focused on fashion. Together, they would eventually
combine their talents to create something truly unique—Joyspoon, a brand set to
revolutionize the mukhwas market in India.
Vaishali's Roots and Inspiration
Vaishali’s childhood was steeped in the traditions of making
mukhwas at home. She fondly remembers the smells of toasted seeds from her
grandmother’s kitchen, the family gatherings, and the joy of sharing meals.
This early exposure to mukhwas sparked her creativity. Vaishali’s interest in
food grew, and she started experimenting with recipes that were not only
delicious but also nutritious, aiming to modernize an age-old tradition.
The Spark for Joyspoon
The idea for Joyspoon came about during Yash and Vaishali’s
wedding, when they decided to gift their guests handcrafted mukhwas instead of
traditional sweets. The response was overwhelming—guests loved the unique and
flavorful gift. This positive feedback planted the seed for something bigger, a
realization that there was a gap in the market for premium, healthy mukhwas,
which would later grow into Joyspoon.
The Unorganized Mukhwas Market
The mukhwas market in India, though valued at ₹5000 crore,
was largely unorganized. Many local sellers dominated the market, offering
inconsistent quality and hygiene. Yash and Vaishali saw an opportunity to
create a product that was different—a premium, hygienic alternative that would
cater to health-conscious consumers. This vision set the stage for the creation
of Joyspoon.
Building the Brand
Combining Vaishali’s knowledge of food and her experience
working in the fashion industry, and Yash’s business acumen, they founded
Joyspoon in October 2023. The brand aimed to offer high-quality, delicious, and
healthy mukhwas. Their approach was unique: they used premium ingredients,
avoided preservatives and added sugar, and ensured their products were
manufactured in a hygienic environment.
Challenges and Skepticism
As Joyspoon made its debut, the duo faced skepticism,
particularly about the high price point of their products. Their mukhwas were
priced 10-15 times higher than traditional varieties, which raised concerns
among many. The niche nature of the market and the uncertainty about whether
mukhwas could command such a premium price posed additional challenges for the
founders.
The Shark Tank India Opportunity
In 2023, Joyspoon entered the popular business reality show
Shark Tank India, hoping to secure an investment that would help them grow.
They offered ₹40 lakh for 1.5% equity, valuing their company at ₹26.67 crore.
However, the sharks were initially unconvinced by the high pricing and the
relatively small market size, with all of them expressing doubts about the
potential success of the venture.
Ritesh Agarwal's Support
While the other sharks were hesitant, Ritesh Agarwal, the
founder of OYO, saw potential in the business. He recognized the innovative
approach of the founders and their vision for creating a premium product.
Though he was initially on the fence, Ritesh was persuaded by the founders’
passion and commitment, and he decided to make an offer. He proposed ₹40 lakh
for 2% equity, a better deal than they initially offered, but with a condition:
they needed to expand into the traditional mukhwas market.
Taking the Deal with Ritesh
With Ritesh’s strategic insight and the growth potential he
saw in Joyspoon, the founders decided to accept his offer. They valued having a
partner with such a strong business acumen, and they were confident that his
involvement would help them take their business to new heights. This marked a
turning point for the brand, as they moved forward with renewed confidence.
Joyspoon’s Vision
The vision behind Joyspoon was simple: to elevate the
mukhwas experience. Vaishali and Yash wanted to bring a modern twist to an
age-old tradition by offering a product that was not only tasty but also
healthy. They saw a future where people could enjoy mouth fresheners without
the guilt of added sugars, preservatives, or unhealthy ingredients. Their goal
was to make mukhwas a delightful, nutritious snack for all.
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Revenue Growth and Sales
Despite initial challenges, Joyspoon’s business began to
take off. Their sales grew significantly, and by 2024, they projected a
turnover of ₹2.5 crore by the end of the financial year. The brand’s approach
to quality and health-conscious marketing resonated with a growing segment of
consumers looking for healthier alternatives to traditional mukhwas. In July
2024, their sales had already reached ₹5 lakh, and by September, they were
expecting to hit ₹17 lakh in monthly sales.
Diverse Revenue Streams
Joyspoon’s revenue model was diverse. The brand generated
35% of its sales through its own website, with 10% coming from marketplaces
like Amazon and Flipkart. Additionally, 25% of the revenue was from B2B sales,
and 10% from their experience store. This well-rounded approach allowed them to
tap into different consumer segments and expand their reach.
Investment and Future Plans
By 2024, Joyspoon had already raised ₹1.25 crore in
investment, with an additional ₹56 lakh raised in June 2024. The brand was
using this investment to further expand its operations, improve its products,
and reach more customers. Their online-first strategy, which focused on
direct-to-consumer sales, was paying off, and they were also exploring quick
commerce for faster delivery options to meet growing demand.
Joyspoon’s Market Potential
The founders of Joyspoon believe in the long-term potential
of the mukhwas market. Though their products are priced higher than traditional
options, they see a future where people are willing to pay a premium for better
quality and health-conscious choices. With more consumers becoming aware of the
importance of healthy eating, the demand for products like Joyspoon’s premium
mukhwas is expected to grow.
The Story of Yash and Vaishali
What makes Joyspoon’s story so unique is the personal
connection between its founders. Yash and Vaishali’s bond goes beyond
business—they’ve been friends since childhood and later became partners in both
life and work. Their shared values, vision, and deep understanding of each
other have been key to the success of their venture. Together, they bring a
blend of tradition, innovation, and business savvy to the mukhwas industry.
Joyspoon’s Unique Position in the Market
Joyspoon stands as a beacon of quality and innovation in the
mukhwas industry. By focusing on premium ingredients, hygienic production, and
a health-first approach, the brand is changing the way people perceive and
enjoy mouth fresheners. With its strong brand identity, expanding sales, and
strategic investment, Joyspoon is poised to become a household name in India
and beyond.
Conclusion: A Legacy in the Making
Joyspoon is more than just a business—it’s a legacy that
blends tradition with innovation. Inspired by Vaishali’s family’s age-old
recipes and the couple’s shared vision, Joyspoon is redefining the mukhwas
experience for the modern world. As the brand continues to grow and evolve, it
remains committed to offering consumers a healthy, premium alternative to
traditional mukhwas, bringing joy to every spoonful.
Timeline for story
High School Days (Before 2010): Yash and Vaishali meet and
form a deep connection.
Vaishali’s Childhood (1990s-2000s): Vaishali grows up
learning to make mukhwas at home.
Wedding (2023): Yash and Vaishali gift guests handcrafted
mukhwas, sparking the idea for Joyspoon.
October 2023: Joyspoon is founded to offer premium, healthy
mukhwas.
2023 (Shark Tank India): Joyspoon appears on Shark Tank,
securing investment from Ritesh Agarwal.
2024: Joyspoon’s sales grow, reaching ₹5 lakh by July and
expected ₹17 lakh by September.
2024 (June): Joyspoon raises ₹56 lakh in additional
investment.
2024 (End of Financial Year): Joyspoon projects ₹2.5 crore
turnover.
