Healthy Eating
European Baking Technology
Season 3 Episode 40
| Brand | Fit and Flex |
| Company Name | Niva Nutrifoods LLP |
| Founders | Pathik Patel |
| Original Ask | 1 crore for 3% equity at the valuation of Rs. 33.33 crores |
| Deal | No Deal |
About the Product
Fit & Flex, a reputable brand offering a diverse array of health-conscious options, presents a range of enticing products designed to tantalize taste buds while nourishing the body. Choco Almond Cookie Delight Muesli tempts with its irresistible blend of chocolate, almonds, and cookies, promising a delightful breakfast experience.
Nuts About Nuts High Fibre Muesli offers a crunchy medley of nuts, delivering a hearty dose of fibre to support digestive health. Fruity Crunchy Healthy Muesli combines the vibrant flavours of assorted fruits with a satisfying crunch, making it a refreshing morning indulgence. Free Choco Almond & Cookie Granola stands out as a fruity, crunchy delight bursting with strawberries, apples, almond flakes, and pumpkin seeds. Low in sugar yet brimming with essential nutrients like prebiotic fibre, Vitamins A and C, along with Iron and Zinc, it promises a nutritious boost to kickstart the day.
Their signature Mini Bites are baked to perfection at 360 degrees using state-of-the-art European technology, ensuring a uniform crunch with every bite. With zero trans-fat, these bites offer a guilt-free snacking option, ideal for those seeking a healthier alternative. Fit & Flex Mini Bites serve as an immunity booster, enriched with essential nutrients like iron and zinc to support overall health and well-being. Packed with nuts, they also provide a hearty protein punch, making them a satisfying and nutritious snack choice.
Featuring a blend of rolled oats, corn flakes, multi-grain flakes, and chocolate, Fit & Flex Mini Bites are not only delicious but also rich in dietary fibre, promoting digestive health and satiety.
Founders & their story
- Pathik Patel
Fit and Flex offers a diverse product range including mini bites, granola, multigrain texture, muesli, and oats. Their brand, Fit and Flex, stands out for its incorporation of added prebiotic fibers, real freeze-dried fruits, premium nuts and seeds, and minimal added sugar. Operating from a state-of-the-art manufacturing facility equipped with European machinery utilizing innovative baking technology, their products undergo a meticulous 360-degree slow baking process. The capital expenditure for their machinery stands at 15 crores, facilitating the production of 35 distinct SKUs. Notably, their hero product is the mango coconut granola.
Their products are widely available across 6000 offline stores and various e-commerce platforms, with sales split between offline and online channels at 70% and 30%, respectively. Priced at Rs 250, their power oats are a popular choice among consumers. Since their inception in December 2019, they have grown significantly, with a bootstrapped approach supported by the founder’s investment of 14-15 crores. Expanding their reach beyond India, their products are also present in 400-500 stores in the UAE. Despite their expansive capacity, the utilization of their machinery currently stands at 30%, leaving ample room for scaling up production to meet growing demand.
About the company
Fit & Flex, renowned for their diverse product range, offers more than just granola. Their commitment to quality and nutrition extends across various offerings, ensuring customers have access to a plethora of healthy choices. Using cutting-edge European baking technology at 360°, they create a range of delectable treats with an irresistible crunch and perfect caramelization, including granola and more.
Their dedication to sourcing only the finest ingredients results in clean blends devoid of unwanted additives. Whether it’s freeze-dried fruits, wholesome oats, whole grains, or nuts, they prioritize quality in every product. Beyond their signature granola, Fit & Flex boasts a lineup rich in fibres and proteins, essential for maintaining overall well-being. From oat-based snacks to protein-packed nut mixes, their products cater to a wide array of dietary needs and preferences. Based in Ahmadabad, Gujarat, Fit & Flex is a leading name in the food and beverage industry, offering a range of nutritious options to support healthy lifestyles.
Revenue
In the fiscal year 2022-2023, Fit and Flex achieved sales totalling 4.6 crores. By September 2023, their sales amounted to 3.85 crores. Projected sales for the fiscal year 2023-2024 are anticipated to reach 8 crores. In September 2023, the profit margin stood at 7-8%. Looking ahead, projected sales for the fiscal year 2023-2024, including private labelling, are estimated to reach 9.2 crores, indicating a promising growth trajectory for the company.
Founders’ Ask
1 crore for 3% equity at the valuation of Rs. 33.33 crores.
Offers
Namita’s conditional offer: 25 lakhs for 2.5% equity at the valuation of 10 crores and 75 lakhs debt at 10% interest for 3 years.
No Deal
Reasons for no deal
Aman: The founder’s focus is only multiple businesses.
Vineeta: The founder has three businesses which reduces focus on one business.
Anupam: The claim is misleading of being healthy and sugar free.
Deepinder: The marketing claim is misleading to the customers.
Namita: Her condition of transferring the machinery to the company was not met.
