New Delhi: The Pakistani tea seller with blue eyes, Arshad Khan, who went viral on social media has become a millionaire overnight. He received a massive offer of 10 million (1 crore) for his café on Shark Tank.
Arshad Khan shared that he had always dreamt of owning his own café even when he was working at someone else’s tea stall. Dressed in a suit, Arshad Khan appeared on Shark Tank Pakistan, where he requested the judges to invest in his business. He mentioned that he had never left Islamabad before. Many people had advised him to start his own café.
Royalty of 35,000 Pakistani Rupees
Arshad Khan explained that the situation of his first startup café was tough in 2020 due to COVID. However, he decided to relaunch it in October of the same year and started making profits. Interestingly, he now runs two cafés in Pakistan and three more outlets in England, operating on a franchise model. These outlets earn him a royalty of 35,000 Pakistani rupees, which is 5 per cent of the profits.
He shared that his goal is to open more profitable outlets worldwide with a focus on South Asian communities abroad and promoting Pakistani culture. He mentioned plans to open an outlet in London as part of this strategy.
1 Crore Offer from Shark Tank
Sharks Junaid Iqbal and Faisal Aftab during the show praised Arshad Khan’s startup but declined to invest 1 crore. However, another shark, Rabeel Warraich offered Khan 1 crore for a 24 per cent equity stake. Interestingly, Khan also received a double-shark deal with Romanna Dada for the same amount.
In another twist, shark Usman Bashir proposed a deal involving a 30 per cent combined equity with the other two sharks. Ultimately, Khan secured a double-shark deal with 25 per cent equity for 1 crore.
