Yes Madam's New Plan Lowers Commission To 8% For Partners

SUMMARY

Yes Madam has launched a new plan ‘Platinum Partners’ for the workers on its platform under which the service partners will have to pay commission of only 8%

The home salon startup said this commission rate is “by far the industry lowest” and the launch is part of its efforts to move to a zero commission model

Yes Madam shot to fame earlier this year after it appeared on TV show Shark Tank India and secured a funding deal of INR 1.5 Cr

Home salon startup Yes Madam has launched a new plan ‘Platinum Partners’ for the workers on its platform under which the service partners will have to pay commission of only 8%.

In a statement, the startup said that this commission rate is “by far the industry lowest”.

“Going an extra mile for their service partners, this program will bring all the advances of financial stability, increasing customer satisfaction, and improving the service quality,” it added.

It is pertinent to note that the startup, which shot to fame after appearing on Shark Tank India earlier this year, offered three plans for its partners before this – Standard, Gold and Diamond with commission rate of 20%, 15%, and 12%, respectively.

Yes Madam said the launch of the new plan is part of its efforts to move to a zero commission model.

“By setting a standard in the industry, we want to encourage other aggregators to support the initiative for the people who work tirelessly in all weather conditions. We are moving towards a commission-free model soon while maintaining profitability for all our stakeholders,” Yes Madam cofounder Mayank Arya said.

Founded in 2016, Yes Madam is a tech-enabled salon-at-home startup that offers professional salon experiences directly to customers’ doorsteps. It operates in more than 50 Indian cities.

In February, the home salon startup secured a funding deal of INR 1.5 Cr from four Sharks – Aman Gupta, Vineeta Singh, Peyush Bansal, and Ritesh Agarwal.

Yes Madam competes with the likes of Urban Company, MakeO, ZapLuk, Belita, BigStylist, GetLook and Biguine India.

The startup reported a revenue of INR 45 Cr in FY24. It expects to reach the revenue mark of INR 100 Cr in FY25 with an approximate gross merchandise volume (GMV) of INR 200 Cr.

The launch of the new partner programme comes at a time when Urban Company has been rocked by multiple protests by gig workers over the last year or so.