This tea seller of Pakistan became a millionaire overnight, used to work at someone else's shop
New Delhi: Blue-eyed Pakistani Arshad Khan, who went viral on social media, has become a millionaire overnight. Tea seller Arshad has received an offer of Rs 10 million (1 crore) for his cafe on Shark Tank. Arshad Khan told that even when he was working at someone else's tea shop, he had always dreamed of opening his own café. Arshad Khan, dressed in a suit, appeared on Shark Tank Pakistan, where he requested the judges to invest in his business.
While talking to the judges of the show, Arshad Khan told that he had never left Islamabad before. Many people advised him to start his own café. Arshad Khan told that the condition of his first startup café was quite bad in 2020 due to COVID. However, they decided to relaunch it in October the same year. After which his startup took off and started earning well.
Arshad has 3 outlets in England
The most interesting thing about Arshad is that he now runs two cafes in Pakistan and three more outlets in England, which work on the franchise model. He gets a royalty of Pakistani rupees 35,000 from these outlets, which is 5 percent of the profit. He explained that his goal is to open more profitable outlets around the world 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
During the show, sharks Junaid Iqbal and Faisal Aftab praised Arshad Khan's startup. But refused to invest Rs 1 crore. However, another shark, Rabil Waraich, offered Arshad Khan Rs 1 crore for a 24 per cent equity stake. Interestingly, Khan also got a double-shark deal with Romana Dada for the same amount.
During the deal on the show, one of the sharks, Usman Bashir, proposed a 30 percent joint equity deal with the other two sharks. However, in the end Arshad Khan won the offer from Double-Shark with 25 percent equity for Rs 1 crore.
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