“Pill Box Pharmacy Founders Adeel & Ghulam Seek 1 Cr PKR for 2% Equity on Shark Tank Pakistan”
Adeel Ahmad and Ghulam Mustafa are the co-founders and CEO of Pill Box pharmacy. Adeel Ahmad is the co-founder of Dvago, he was the first employee at Dvago and spent 7 years there. Before that he was heading things in the Servaid pharmacy situated in Lahore, they also had 100 plus outlets and he spent five years there. Founders said that we are all aware of the health situations in Pakistan and if we talk about medicines, we use them like our national food. He more said that if we talk about the pharmacy retail, even today in Pakistan 80% of pharmacy retail business is run through an unorganized structure.
In which around 60% plus stores are contributing and another 15% from wholesale markets and then doctors and hospital vicinities and chain pharmacies are hardly 5-7% which is their contribution in total, there will be an edge comparison in the market as compared to region. To address these problems, we have come up with Pill Box pharmacy. which is a retail plus online brand. Founders asked for 1 Cr PKR for 2% equity, 50% valuation.
Sharks asked for their top lines, founder said that our revenue in 2023 is Rs. 3 Cr and Projected Revenue Rs. 60 Cr in 2027and the EBIDTA is 4.5% . Market size is Rs.748 billion. Already raised funding from angel investor. Shark Faisal Aftab got confused and rejected to invest in there company.
Shark Rabeel said that I want to wish you well but I will leave because it will create a conflict situation for me because there are existing platforms with which we are associated but your ask is so unreasonable. Sharks asked their asset valuation? Founder said that right now the asset valuation would be around 20 Million PKR.
Founder said that our plan is to have 50 retail stores in next five years. Their equity split is Adeel Ahmad 45%, Ghulam Mustafa 32% and angle investor 23%. And at the end Sharks are so disappointed by them because they said that you are just here to waste our time and just promoting your company that’s it. All Sharks are out and the deal is not done.
The founders got confused and could not show the bigger picture to the sharks. They already worked in the same industry, they have discussed their unit economics and focus on franchising the business instead of starting their outlets.
The team has a good track record in a similar industry.
Sumbal is shark tank enthusiast, ever since the show started airing, she has followed it. She likes writing and researching about startups. She is also helping a few startups scale.
