YesMadam Introduces Industry-Lowest Commission Rates for Service Partners
In a groundbreaking move aimed at reshaping the home salon industry, YesMadam has proudly announced a significant reduction in its commission rates for service partners. This initiative marks a monumental step forward, aligning with the company’s commitment, initially voiced on national television, towards achieving a zero-commission model. Impressively, this goal has seen tangible progress, with commission rates plummeting to eight per cent from the previous 15 per cent in a mere span of four months since their appearance on Shark Tank.
YesMadam, known for its diverse partnership programs, has traditionally offered tiers ranging from standard, gold, to diamond, each coming with its own set of commissions and benefits. The newest addition to this suite is the Platinum Partners program, set to disrupt the norm with the introduction of an unprecedented 8 per cent commission rate—making it the lowest in the home salon industry. This initiative not only aims to enhance financial stability among service partners but also seeks to elevate customer satisfaction and service quality across the board.
Co-founder Mayank Arya shared his thoughts on this pivotal move, noting, “This is a big moment for us and our partners. The fast-moving economy invariably brings inflation, and our frontline service providers often bear the brunt of it. By establishing a new industry standard, our goal is to inspire other aggregators to join hands in supporting this initiative, recognizing the resilience and unwavering commitment of our partners who work tirelessly, regardless of the weather, while maintaining a positive demeanor.”
In further support of this initiative, co-founder Akanksha Vishnoi highlighted the empowering aspect of YesMadam’s mission, particularly its impact on women. “It’s profoundly rewarding to witness women carving their own paths to success and being able to support this journey is truly a blessing. For us, it’s not only about the growth and achievement but also recognizing and giving back to the dedicated community that remains integral to our evolving success story,” Vishnoi remarked.
Since its inception in 2016 by Aditya and Mayank Arya, YesMadam has experienced remarkable growth, evidenced by a 250 per cent surge in revenue while extending its services to over 50 cities in India. With a robust workforce of 250 employees spread across key urban hubs like Delhi-NCR, Mumbai, Pune, Hyderabad, and Bengaluru, the home salon startup has garnered attention and investment from industry-leading figures, including a four shark endorsement worth 1.5 crore on Shark Tank, further attesting to its potential and visionary approach.
The decision to reduce commission rates to an all-time low is more than a strategic business move; it is a testament to YesMadam’s commitment to fairness, quality, and the empowerment of its service partners. As the company strides towards a commission-free model, it remains steadfast in maintaining profitability for all stakeholders, setting a commendable precedent for the industry at large.
