Yes Madam, a platform to book beauty and spa services at home, secures Rs 1.5 crore funding on Shark Tank India

Yes Madam, a name that's becoming synonymous with convenience and transparency in the beauty and wellness industry, is revolutionizing the way salon services are availed in India.

The tech-enabled platform allows users to book a wide array of beauty and spa services, including waxing, manicures, pedicures, and facials, all from the comfort of their home. What sets Yes Madam apart is its commitment to customer skin and hygiene care, with all products and disposables used during services being one-time use and coming in sealed packaging.

Who are the founders?

The founders of Yes Madam are four energetic people: Arpit, Akansha, Mayank, and Aditya. Each of them brings their own special skills and ideas. They come from different backgrounds, including engineering, law, and the Merchant Navy, but they all came together to solve a problem in the beauty industry. Their story is not only about starting a business but also about overcoming personal challenges. 

Addressing industry challenges

Yes Madam was created to solve various problems in the traditional salon industry, such as the difficulty of making appointments, dealing with untrained professionals, and the use of fake products. It offers a service where customers can easily book salon services to be provided at their homes.

The startup aims to ensure that all services are carried out by trained and checked professionals, using safe and authentic products, offering both convenience and quality.

Market size and opportunity:

The beauty salon market in India is huge, valued at thousands of crores. Yes Madam plans to enter this profitable market by meeting needs that haven't been addressed yet and creating new benchmarks in service quality and customer support.

Even though big companies like Urban Company are already operating in this space, Yes Madam's founders said they found a special place for themselves. It does this by being open about the cost of products and giving customers the choice to select their products. 

Shark Tank India pitch

Yes Madam's founders initially approached with a proposal asking for Rs 1.5 crore in exchange for 0.5% equity, valuing the company at Rs 300 crore. In a dramatic turn of events on the pitch stage, the final deal was struck with investors Aman Gupta, Piyush Bansal, Ritesh Agarwal, and Vineeta Singh. 

The sharks agreed to invest Rs 1.5 crore for a 2% equity stake, along with a 2% royalty until the 1.5 crore is recouped, at a revised valuation of 75 crore.

Revealing the plans, The pitchers said they plan to expand Yes Madam's footprint across India, aiming to become the nation's largest salon tech company with both online and offline presence.

Notably, They also committed to enhancing the professional and personal lives of its partners, thereby creating a sustainable ecosystem that benefits all stakeholders.