Biography of Mayank Arya: CEO and co-founder of Yes Madam- Entrepreneur
Biography of Mayank Arya:
Yes Madam: A Journey of Determination and Innovation
Mayank Arya, the CEO and co-founder of Yes Madam, had always
been a dreamer. Born and raised in the small town of Amroha, Uttar Pradesh,
Mayank longed for a life filled with exploration and adventure. Coming from a
family of businesspeople, he was expected to join the family business, but he
had other plans. In pursuit of his dreams, he chose a different path, joining
the Merchant Navy. His job took him across the world, experiencing different
cultures and environments. However, his entrepreneurial spirit never waned, and
in 2009, he saw a business opportunity in Liberia, West Africa, where he built
multiple successful ventures and became a millionaire by the time he was 30.
A Setback That Changed Everything
Mayank’s life took an unexpected turn when he was assaulted
during a business trip, leaving him physically and mentally scarred. To make
matters worse, the Ebola outbreak caused the collapse of his businesses in
Africa. Forced to return to India with his wife and children, Mayank faced
immense challenges, both personal and financial. His return to India marked the
beginning of his second innings in life. Determined to rebuild, he embraced a
healthier lifestyle and started his entrepreneurial journey again, this time
with a deeper introspection of his goals and values. His new venture would go
on to be inspired by an incident involving his wife and sister-in-law.
The Birth of Yes Madam
The spark for Yes Madam came when Mayank’s wife, Yukti, and
his sister-in-law, Garima, had a terrible experience with a home salon service.
The beauticians used expired, bulk, or fake products, resulting in severe
allergic reactions. The two brothers, Mayank and Aditya, were furious and
determined to make a change. They wanted to create a home salon service that
was transparent, accountable, and used high-quality products. This moment led
to the founding of Yes Madam, a salon-at-home startup dedicated to delivering
top-notch services in a safe, hygienic, and reliable manner.
Aditya’s Leap of Faith
Aditya Arya, Mayank’s younger brother, followed a similar
path and initially pursued a career in the Merchant Navy. By the age of 26, he
had already achieved remarkable success, becoming the youngest Dynamic
Positioning Officer. However, despite his success on the seas, Aditya yearned
to be his own boss. A life-changing incident involving the death of his
colleague’s mother made Aditya reassess his priorities, and he decided to leave
the maritime industry behind to join Mayank in the entrepreneurial world. In
2016, Aditya returned to India and became a co-founder of Yes Madam, motivated
by the desire to empower women and provide a platform for their financial
independence.
A New Family Venture
Aditya’s decision to leave his stable job was not easy, but
he was inspired by the strength and resilience of the women in his life,
especially his wife, Garima, and Yukti. The brothers worked together, alongside
Akanksha Vishnoi, who joined them in 2019, to grow Yes Madam into a business
that would make a difference in the lives of women. Akanksha’s creative skills,
honed during her studies in law, were integral in developing the brand's visual
identity. Despite her lack of formal experience in business, she quickly became
a core member of the team, contributing immensely to the startup’s growth and
success.
Yes Madam’s Concept Takes Shape
The concept behind Yes Madam was simple yet revolutionary:
to offer salon services at home using only high-quality, single-use products.
This approach not only ensured hygiene and safety but also brought complete
transparency to the services. The team’s dedication to creating beautiful and
personalized experiences for customers was central to Yes Madam’s mission. The
focus on professional training for service providers, alongside a fair pay
model and supportive working conditions, was crucial in building a strong,
reliable workforce.
Challenges in the Early Days
Like any startup, Yes Madam faced its share of challenges in
the early days. One of their first service providers absconded with their
scooter, highlighting the difficulties of building trust with service
professionals. Earning consumer trust was also a struggle. But the team
persisted, learning from each setback and refining their approach. With hard
work, Yes Madam gradually earned the trust of its customers and grew its
service provider base, becoming a recognized name in the industry.
Biography of Mayank Arya: CEO and co-founder of Yes Madam- Entrepreneur/ age/net worth/investor/home salon experience/shark tank story/Yes Madam
The Turning Point: The Shark Tank Opportunity
Yes Madam’s breakthrough came when it appeared on Shark Tank
India during season 3. The show provided the team with an invaluable platform
to pitch their business to industry stalwarts. The brothers and Akanksha were
eager to present their hard work and vision to the Sharks, but they were also
nervous. Their preparation paid off when they successfully secured an
investment of ₹1.5 crores from Aman Gupta, Vineeta Singh, Peyush Bansal, and
Ritesh Agarwal. This deal not only gave Yes Madam the financial backing it
needed but also elevated the brand’s profile significantly.
Post-Shark Tank Success
The episode’s airing was a game-changer for Yes Madam. The
website traffic skyrocketed, and the user base tripled. The investment allowed
the company to scale its operations and refine its offerings, and Yes Madam
soon became one of the leading home salon services in India. With a dedicated
team of 400 employees across major cities, the company saw substantial growth,
with revenues increasing year-on-year. By 2024, Yes Madam’s revenue was
expected to reach ₹100 crore, a testament to the company’s resilience and
determination.
Revenue Streams and Business Model
Yes Madam’s revenue comes from three primary sources:
commissions on salon services, sales of products to professionals, and offering
training to beauticians. Their model is based on affordability without
compromising quality. The company’s prices are 40% lower than other competitors
in the market, which makes it an attractive option for customers seeking
high-quality, transparent, and reliable beauty services.
The Impact of COVID-19
The COVID-19 pandemic presented a unique set of challenges
for Yes Madam. The company faced a dip in demand, and like many businesses, it
had to pivot to survive. But the founders’ resilience shone through, and by
2022, Yes Madam had turned profitable, with a net profit of ₹62 lakh. Despite
the tough years, the startup weathered the storm, using personal savings to
fund operations when necessary, and emerged stronger, more focused, and more
determined than ever.
Empowering Women: A Core Mission
One of Yes Madam’s most significant impacts has been its
focus on empowering women, both its customers and its service providers. The
company currently has over 3,000 female professionals working for it. These
women are provided with training, financial support, and the opportunity to
secure loans with ease. Additionally, the company conducts regular motivational
sessions and rewards programs to boost their confidence and morale. Yes Madam
has created a platform where women can become financially independent, gain
respect in their profession, and break free from the cycle of exploitation they
often face in the beauty industry.
A Strong Training Program
To ensure high-quality service, Yes Madam places a strong
emphasis on training its service providers. The process begins with a trial
phase, where each professional’s skills are assessed. Afterward, they undergo
specialized training in both theory and practical aspects of beauty services.
The company believes in second chances, offering retraining when necessary to
maintain service standards. Regular refresher courses help professionals stay
updated with the latest beauty trends and techniques.
The Future of Yes Madam
As Yes Madam continues to expand, the focus remains on
increasing its market share and maintaining its reputation for providing
hygienic, high-quality, and affordable salon services. The company is eyeing
further growth in existing cities and also plans to open offline stores. Beyond
that, Yes Madam has a larger vision: to continue empowering women, creating
opportunities for them to grow, learn, and become entrepreneurs. With their
innovative business model and a clear mission, the founders are committed to
ensuring that Yes Madam continues to evolve and thrive in the ever-changing
beauty industry.
A timeline of key events in the story of Yes Madam:
2009 – Mayank Arya becomes a millionaire in Liberia through
successful ventures.
2014 – Mayank is assaulted, and Ebola outbreak causes his
businesses to collapse.
2015 – Mayank returns to India, starting a new
entrepreneurial journey.
2016 – Aditya Arya joins Mayank in the entrepreneurial
world, leaving the Merchant Navy.
2017 – Yes Madam is founded by Mayank and Aditya Arya,
inspired by a bad home salon experience.
2019 – Akanksha Vishnoi joins Yes Madam, contributing to the
brand’s visual identity.
2021 – Yes Madam appears on Shark Tank India, securing ₹1.5
crores investment.
2022 – Yes Madam turns profitable, with a net profit of ₹62
lakh.
2024 – Yes Madam’s revenue is expected to reach ₹100 crore,
becoming a leading home salon service in India.
