YesMadam, a Noida-based home salon start-up, aims to increase monthly bookings from 1.4 lakh to 5 lakhs by 2026. They also intend to capture a major share of India’s salon market which is currently valued at USD 11.65 billion and will expand to USD 22.99 billion by 2033. YesMadam started its journey in 2016, when brothers Aditya and Mayank left their cushy jobs and started a salon service that was genuine. With an initial investment of INR 2-3 lakh rupees, the salon chain set a foot in the home salon space. Today, it’s investment stands at a whopping INR 4 crore.
YesMadam offers a range of services including, facials, clean-ups, male grooming services, waxing, manicure, pedicure, pre-bridal services, and female spa treatments. They are cost-efficient for consumers as their services cost half of both their online and offline contemporaries. They get the maximum demand from Mumbai, Hyderabad, Pune, and Bangalore with 98% consumers being women.
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The journey has not been all smooth. They have faced challenges of product duplication, price competitiveness, and lack of empowerment for service providers. To tackle these issues, they partnered with brands that made sealed mono-dose products, and to be cost-competitive, they segregated their prices into product cost (MRP) and service charge @ INR 6 per minute. This made their services much more affordable than their competitors. For professional empowerment, they launched a marketplace model that allowed people to run their own business. They have one of the lowest commission rates at 8% and in the future they intend to bring it down to nil. Today, they have over 3,500 beauty professionals associated with them.
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YesMadam’s future plans include expanding to more cities and taking it from 57 to 300 cities by 2027. They recently opened their first-ever offline space in Ghaziabad and aim to open two more in the near future.
