Home salon startup Yes Madam has introduced a new plan called “Platinum Partners” for the workers on its platform, offering a significantly reduced commission rate of only 8%. This new commission rate is touted by the startup as the lowest in the industry. Yes Madam emphasizes that this initiative aims to provide financial stability to service partners, enhance customer satisfaction, and improve the overall quality of services.
The startup gained widespread recognition after appearing on Shark Tank India earlier this year. Prior to the introduction of the Platinum Partners plan, Yes Madam offered three different plans for its service partners: Standard, Gold, and Diamond, with commission rates of 20%, 15%, and 12%, respectively. The launch of the new plan is a strategic move by Yes Madam as it aims to transition towards a zero-commission model in the future.
Yes Madam cofounder Mayank Arya highlighted the company’s goal to set a new standard in the industry by supporting service partners who work tirelessly under various conditions. Arya expressed hopes that other aggregators will adopt similar initiatives to benefit their workers while maintaining profitability for stakeholders. The company’s efforts reflect its commitment to creating a more sustainable and supportive environment for its partners.
Established in 2016, Yes Madam is a tech-enabled salon-at-home startup that delivers professional salon services directly to customers’ homes. The company operates in over 50 cities across India. In February, Yes Madam secured a funding deal of INR 1.5 crore from four notable investors: Aman Gupta, Vineeta Singh, Peyush Bansal, and Ritesh Agarwal.
Yes Madam faces competition from several other companies in the home salon industry, including Urban Company, MakeO, ZapLuk, Belita, BigStylist, GetLook, and Biguine India. Despite the competitive landscape, Yes Madam reported a revenue of INR 45 crore for the fiscal year 2024 and aims to reach a revenue of INR 100 crore in FY25, with an expected gross merchandise volume (GMV) of INR 200 crore. The launch of the new partner program comes amidst a backdrop of multiple protests by gig workers at Urban Company over the past year.
