Mixing startup earns 1 billion/month to raise capital 5 billion, being "taught" a life lesson by Shark Tank sharks

Kicking off his fundraising with a "funny comedy", startup Huynh Vu Tien made many Sharks quickly laugh... sad, instead of funny because the presentation was somewhat overconfident afterwards.

A college dropout, Huynh Vu Tien (born in 1995) has started a coffee franchise chain since 2015. With an initial capital of 1.2 billion, Tien said the average daily revenue ranging from VND 22-24 million and the payback period is about 12-14 months.

As a person with 10 years of experience in the barista industry, Tien shared that he recently earns about 1 billion VND/month thanks to his job teaching bartending. In the latest episode of Shark Tank Vietnam, Huynh Vu Tien brought a deal worth 5 billion VND for 25% of Nectar Coffee - a new brand of Tien and no store yet.

When hearing this number, the Sharks were surprised and asked: "If the income is 1 billion VND/month, why call 5 billion VND for what?". According to Founder Nectar Coffee, he doesn't like teaching bartending anymore and is tired of having to run ads for himself all month.

Therefore, Go to Shark Tank raised capital to build a new chain of coffee shop brands. The startup's current equity is about 130 million VND invested in coffee machines and Tien plans to pour another 2 billion VND by the en.d of this year.

Vu Tien stated that the current market is a great opportunity for him. The founder of Nectar Coffee asserts that he has the strongest and most delicious product in the market. The reason Tien dares to be so "bold" is because of the recognition of the student community.

Tien's plan is to open a store first, then invade the whole South and bring the brand name all over Vietnam. Vu Tien said that he currently has relationships with many major newspapers for young people, KOL, YouTuber in the field of food review. Founder Nectar Coffee affirmed: "Opening a coffee shop is easy!"

Shark Hung agrees with the "easy" view, but according to him: "living" is difficult. Vu Tien agrees and gives his personal opinion about Starbucks, he thinks that this brand is forgetting one thing that Vietnamese people do not drink 'coffee with water'.

Shark Hung made a point of view: "You are right, F&B in general and coffee in particular, the quality of the product is still the most important, but the product has many types and quality phenotypes. For example, you say no. I like to drink American-style light coffee, but that's just a group of friends, not the whole Vietnamese market.

The coffee I drink every day is an Americano. Second, it must be said that there is no industry in Vietnam that attracts such a terrible amount of gray matter. The number of young people starting a business thinking about opening a coffee shop is the most."

Shark Hung also frankly shared that the drinks that Vu Tien invited him to enjoy were not delicious because his taste was not a lot of sugar.

Shark Hung Anh still wonders about Vu Tien's reason for calling capital instead of taking current income to open a shop. Vu Tien replied that his concern related to a bank loan to pay for the house would be extremely risky if he put all his efforts into opening a restaurant and did not have time to prepare. So he separates into two parts, one to help him stabilize and the other to grow.

Shark Erik revealed that the Starbucks CEO is one of his friends. The foreign shark said: "There is a huge difference between confidence and illusion", Shark Erik said that Tien's confidence is equal to many coffee chains with the largest market share in Vietnam combined and that's why. Shark Erik refuses to invest.

According to Vu Tien, a day's revenue can be about 30-35 million dong with a prime location, profit 200-300 million / month, about 1-2 years will payback. Shark Hung Anh thinks that this number is too terrible, while Shark Hung expressed questions about the startup's ability to payback. Therefore, the two sharks refused Vu Tien.

Shark Hung Anh gives advice: "Do not be too confident in your business. You can succeed once, twice, but not forever". Next, Shark Lien also refused to invest because she thought that Tien was not serious enough with this journey.

Shark Binh frankly assessed that Vu Tien has the talent "to cut the wind into a storm, but the storm is a natural disaster". As a person who appreciates the honesty of startups, Shark Binh advises Vu Tien to be humble and not 'blatant' before starting a business.

After all, startup Vu Tien has an income of 1 billion VND per month but has not received any deals from Sharks. However, he still has a lot of advice from experienced investors and a basket of "bricks and stones" from netizens for him.

Shark Hung caused controversy about Tet bonus speech Hoàng Phúc14:15:17 19/09/2022Shark Hung is one of the giant "sharks" of the Shark Tank Vietnam program. This entrepreneur often makes bold comments or decisions with startups. Not long ago, Shark Hung caused a fever in public opinion when he said: If you want to change jobs, don't think about a few Tet...