Biography of Hemant and Yogesh Chavan: Founder & CEO of Goodland Pickleball
Biography of Hemant and Yogesh Chavan:
Game-Changing Idea
Hemant Chavan, an experienced civil engineer and real estate
investor, had always been passionate about innovative ventures. Having
completed his Master’s in Civil Engineering from the University of Illinois
Urbana-Champaign and a Bachelor's from the University of Mumbai, he had spent
years working in real estate development. But in early 2024, he, along with his
cousin Yogesh Chavan, set out on a new journey—bringing the exciting sport of
pickleball to the forefront with their company, Goodland Pickleball.
Building the Vision
Goodland Pickleball was more than just a business for Hemant
and Yogesh. They envisioned a company that would specialize in high-quality
pickleball courts, racquets, nets, and training centers. Their goal was to
create professional-grade courts and facilities, catering to both casual
players and serious competitors. The startup quickly gained momentum, catching
the attention of investors and sports enthusiasts alike.
Taking the Big Leap
To take their vision to the next level, the cousins decided
to pitch their business on Shark Tank India, hoping to secure funding that
would allow them to expand rapidly. They entered the show with confidence,
knowing that the growing popularity of pickleball could turn their startup into
a major success.
The Bold Ask
When presenting their business, Hemant and Yogesh shared
their impressive progress. Despite only being in operation for nine months,
they had already generated ₹1.9 crore in revenue—₹70 lakh from India and ₹1.2
crore from the U.S. Confident in their future growth, they asked for ₹80 lakh
in exchange for 4% equity, valuing their company at ₹20 crore.
Doubts from the Sharks
The investors, or "sharks," had several concerns.
Hemant was uncertain about where to focus—India or the U.S., which raised red
flags. Anupam Mittal and Kunal Bahl were hesitant, feeling that the business
lacked a clear strategy. Namita Thapar also questioned their approach,
comparing it to how Ford failed in India while Hyundai and Kia succeeded by
tailoring their strategy to local needs.
A Unique Demonstration
To help the sharks understand pickleball better, Hemant and
Yogesh invited Aman Gupta and Anupam Mittal to play a match. Aman won, enjoying
the game but mentioning that he preferred padel, another emerging racket sport.
The cousins explained that while padel courts were larger, pickleball was
gaining popularity due to its accessibility and affordability.
High-Quality Standards
Hemant and Yogesh reassured the sharks about their
commitment to quality. They highlighted how their courts were built using
weather-resistant materials, met professional tournament standards, and were
designed for players of all skill levels. Their facilities could host
competitions, training programs, and casual games, making them attractive to a
wide audience.
Biography of Hemant and Yogesh Chavan: Founder & CEO of Goodland Pickleball- Entrepreneur#startup#age#net worth#investor#shark tank#Goodland Picklebal
The Revenue Model
Goodland Pickleball had multiple revenue streams. Apart from
selling paddles for ₹2,500, they generated income through court rentals
(₹600–700 per session) and membership plans (₹5,000 per month). Their ambitious
goal was to reach ₹50 crore in revenue within three years, leveraging both the
Indian and international markets.
Anupam and Kunal Step Away
Despite their promising numbers, Anupam and Kunal were not
convinced. Anupam felt the business was still at an early stage, advising them
to focus on the U.S. market before expanding to India. Kunal also stepped back,
stating that he couldn't see the long-term potential clearly.
Namita's Tough Questions
Namita Thapar challenged the founders, saying that
copy-pasting a successful business model from one country to another doesn't
always work. She pointed out how Hyundai and Kia took time to understand the
Indian market, unlike Ford, which failed due to a lack of adaptation. Concerned
that Hemant was trying to run a business in India while living in the U.S., she
ultimately decided not to invest.
Aman Sees Potential
The only shark who showed serious interest was Aman Gupta.
However, he had strict conditions—he wanted Hemant to stay in India for at
least six months and for the founders to open a club within two months. He
initially offered ₹80 lakh for 5% equity and a 1% royalty until he recovered
his investment.
A Fair Deal is Made
After some negotiation, Hemant and Yogesh countered with a
revised offer: 6% equity in exchange for the funding, but with the royalty
reduced to 0.5% instead of 1%. Aman found this reasonable and accepted the
deal, making Goodland Pickleball one of the few startups to secure funding on
the show.
The Road Ahead
With Aman on board, the cousins now had both the capital and
strategic guidance needed to scale their business. They planned to expand
aggressively in India, ensuring the sport reached a wider audience while also
strengthening their presence in the U.S.
A New Era for Pickleball
The deal marked a significant milestone for Goodland
Pickleball. With a clear vision, quality products, and investor support, Hemant
and Yogesh were determined to transform pickleball into a mainstream sport in
India. Their journey on Shark Tank was just the beginning of what promised to
be an exciting and successful venture.
Timeline for story
Early 2024 – Hemant and Yogesh Chavan founded Goodland
Pickleball.
Mid-2024 – Business gained traction with ₹1.9 crore revenue.
Late 2024 – Applied for Shark Tank India to seek investment.
Shark Tank Pitch – Asked for ₹80 lakh for 4% equity.
Sharks' Concerns – Investors questioned strategy and market
focus.
Game Demonstration – Aman Gupta and Anupam Mittal played
pickleball.
Investment Negotiation – Aman offered ₹80 lakh for 5% equity
with 1% royalty.
Final Deal – Settled at 6% equity with 0.5% royalty.
Post-Investment – Plans to expand in India and the U.S.
