Introduction:
In a world where convenience is key, Yes Madam has emerged as India’s most trusted and transparent home salon service. Founded by the dynamic team of Arpit, Akanksha, Aditya, and Mayank, Yes Madam is a tech-enabled platform that brings salon services to your doorstep. This blog will delve into the fascinating journey of Yes Madam and its mission to transform the beauty and spa industry.
The Yes Madam Team Pitch:
The founders of Yes Madam hail from Delhi and shared their vision on the popular show “Shark Tank.” Arpit, Akansha, Aditya, and Mayank presented their revolutionary concept to the Sharks, emphasizing the challenges faced by individuals in finding time for salon services in their busy lives. They highlighted the risks associated with untrained service professionals and the need for a transparent and reliable home salon solution.
Yes Madam’s Unique Proposition: Yes Madam stands out as a platform where users can book a range of beauty and spa services, including waxing, manicure, pedicure, and facial spa, conveniently at home. The team ensures that all professionals are trained and verified, and they use one-time-use packaging for products and disposables to prioritize customer hygiene and safety.
Transparency in Pricing: One of Yes Madam’s unique features is its transparent pricing model. The platform separates charges into product cost and service charge, allowing customers to choose their preferred products. This commitment to transparency sets Yes Madam apart from its competitors.
Empowering Female Entrepreneurs: Yes Madam takes pride in empowering over 2500 female service providers, transforming their income potential. The founders shared their vision of making Yes Madam the largest salon tech company in India, combining both home and offline presence to reach a wider audience.
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Financial Success and Growth: Yes Madam’s financial success is evident in its impressive revenue growth. From INR 12.5 crores in FY 2021 to a projected INR 50 crores this year, the company has experienced significant growth. The founders revealed their profitability, showcasing a strong financial foundation.
Challenges Faced and Lessons Learned: The founders shared their challenges, from initial setbacks in other ventures to overcoming the impact of external events like the Ebola outbreak. They emphasized their commitment to supporting their service providers, building a community of top-rated partners, and fostering their growth.
They demand for 1.5 crores in return for 0.5% Equity | Valuation 300 Cr
Shark Tank Offers:
The Shark Tank Decision: The founders faced tough questions from the Sharks regarding their valuation and decision not to seek funding. The Sharks were impressed with Yes Madam‘s profitability but raised concerns about the company’s future growth. Despite receiving offers, the founders decided to decline them, expressing their dedication to building a lasting legacy. After negotiations, a deal was struck with the Sharks, providing the founders with the necessary capital to fuel their expansion plans. The founders negotiate with Peyush, Vineeta, Ritesh, and Radhika, seeking an ideal investment with favorable terms.
Final Deal:
After deliberation, a deal is struck. Peyush, Vineeta, Ritesh, and Radhika offer ₹1.5 crore for a 2% equity stake. They also propose a share of net revenue until the investment is recouped. The founders gladly accept the deal, marking a significant milestone for Yes Madam.
Aman, Ritesh, Peyush, Vineeta Offers Deal- 1.5 Cr for 2% Equity + 2% Royalty until 1.5 Cr is Recouped, Valuation 75 Crores.
Click Here to Read Shark Tank Judge’s Biography!
Conclusion
In conclusion, the Yes Madam story underlines the multifaceted nature of equity in the startup ecosystem. It is not just a financial transaction but a strategic decision that shapes the trajectory of a company. The founders’ understanding and approach to equity on Shark Tank exemplify the delicate balance required to navigate the intricate landscape of entrepreneurship.
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