Imdad Hussain
In India’s dynamic culinary sector, the concept of mobile food services has gained acceptance. Leading this movement is Schickwheel, a Delhi-based company that designs and manufactures bespoke mobile kitchens such as food trucks, trailers, kiosks, and carts. Schickwheel, founded in 2016 by brothers Parth and Rishabh Sachdeva, has established itself as a pioneer in offering creative solutions to culinary entrepreneurs around the country. Their recent appearance on Shark Tank India pushed their journey and ambition to the forefront, demonstrating their dedication to transforming the mobile food sector.
The Origins of Schickwheel
Schickwheel traces its origins back to the Sachdeva family’s lengthy history in the kitchen equipment manufacturing industry. Parth Sachdeva, now 32, earned a B.Com (Honors) from Shivaji College at Delhi University, followed by an MBA in Marketing. After finishing his studies in 2013, he joined his father’s kitchen equipment manufacturing company in 2014, which had been in operation for more than 50 years. This experience gave him invaluable insights into the industry’s complexities.
Rishabh Sachdeva, 29, earned his B.Com from Shri Ram College of Commerce (SRCC) at Delhi University. After getting professional expertise through employment, he chose to pursue his entrepreneurial passion with a new enterprise. In 2016, the brothers committed ₹20 lakhs of personal finances to develop Schickwheel, recognizing a need for specialist food truck manufacturing in India’s market.
A Diverse Product Portfolio
Schickwheel’s product lines are geared to meet a wide range of mobile food service needs:
1. Food Trucks and Trailers:
These mobile kitchens are great for businesses that want to serve their culinary delights directly to clients. Clients provide the truck chassis, and Schickwheel customizes the build to match their individual needs. The average selling price for these flats is around ₹8.5 lakh.
2. Kiosks:
Compact and adaptable, kiosks are ideal for places with limited space, such as malls or events. They provide flexibility and mobility at an average selling price of ₹7.5 lakhs.
3. Carts:
Designed for frequent movement, carts are ideal for sellers who have to relocate frequently. These solutions are cost-effective, with an average cost of ₹2.5 lakh per unit.
4. Kitchen Equipment:
With their family’s long experience, Schickwheel manufactures a line of kitchen equipment, averaging ₹4 lakhs, to match their mobile units.
Manufacturing Excellence and Market Reach
All goods are made in-house, which ensures strict quality control and personalization options. Schickwheel’s reach spans 23 states and four Union Territories in India, demonstrating its extensive market penetration. Food trucks and trailers are manufactured in 4-6 weeks, kiosks in 4 weeks, and carts in 2 weeks.
Financial Trajectory and Business Growth
Since its inception, Schickwheel has demonstrated a consistent upward trajectory in revenue:
- FY16-17: ₹98 lakhs
- FY17-18: ₹1.3 crores
- FY18-19: ₹2.5 crores
- FY19-20: ₹3.2 crores
- FY20-21: ₹3.4 crores
- FY21-22: ₹3.2 crores
- FY22-23: ₹5.5 crores
- FY23-24: ₹6.8 crores
As of October FY24-25, the company has already achieved ₹6.5 crores in sales, with projections to reach ₹15 crores by the end of the fiscal year. With over 3,000 purchase orders fulfilled, Schickwheel has established a robust client base.
The sales distribution across their product categories is as follows:
- Food Trucks and Trailers: 35%
- Kiosks: 35%
- Kitchen Equipment: 22%
- Carts: 8%
In FY23-24, the company reported a Gross Margin of 22% and an EBITDA of 5%. The unit economics indicate that raw materials constitute 72% of the cost of goods sold (COGS), with manufacturing expenses at 6%, resulting in a total COGS of 78%. Operating expenses include salaries (8%), marketing (5%), rent (2%), and miscellaneous costs (2%), culminating in an EBITDA of 5%.
Shark Tank India Experience
Schickwheel’s presence on Shark Tank India marked a watershed event in their entrepreneurial path. The founders sought an investment of ₹75 lakhs for 1% equity, valuing the company at ₹75 crores. They presented their business concept and development forecasts to the shark panel. The pitch drew tremendous interest, resulting in many offers:
- Kunal Bahl:
Offers ₹2 crores for 10% equity, valuing the company at ₹20 crores, or ₹1 crore for 6% equity, valuing it at around ₹16.67 crores.
- Vineeta Singh:
Proposed ₹75 lakhs for 10% equity, based on a valuation of ₹7.5 crores.
- Aman Gupta:
Offered ₹75 lakhs for 5% stock to value the company.
Conclusion
Schickwheel’s story reflects the inventive attitude that is propelling India’s growing mobile food business. By filling a void in specialized food truck manufacturing, owners Parth and Rishabh Sachdeva have created a firm that not only provides diversified, high-quality products but also exhibits constant financial development. Their debut on Shark Tank India emphasized both their accomplishments and the difficulties of matching valuation expectations to investor perceptions. As Schickwheel expands its presence throughout India, its dedication to quality and innovation puts it well to capitalize on the growing need for mobile food solutions. The company’s tale inspires entrepreneurs who want to turn industry problems into chances for success.