India’s fast-growing home services market is creating big opportunities for startups, and one company is clearly benefiting from the trend. Noida-based beauty services platform Yes Madam has reported strong financial results for the financial year ending March 2025, nearly doubling its revenue while remaining profitable.
The company, which allows customers to book salon and wellness services at home through its app or website, reported operating revenue of Rs 92.5 crore in FY25. This is a significant jump compared to Rs 45.8 crore in FY24, according to financial statements filed with the Registrar of Companies.
The numbers highlight the growing popularity of at-home beauty services in India and show how digital platforms are changing the way people access salon treatments.
The Rise of At-Home Beauty Services
Founded in 2016, Yes Madam was built on a simple idea: bring salon services directly to customers’ homes. Instead of visiting a salon, users can book trained beauty professionals through the company’s app or website.
The services offered on the platform include haircuts, facials, waxing, manicures, pedicures, and massage therapies. Once a customer makes a booking, a professional visits their home at the scheduled time to deliver the service.
This model has become increasingly popular in urban India, especially among working professionals and people who prefer convenience and privacy over traditional salon visits.
Over the past few years, the demand for home-based beauty services has grown rapidly. Factors such as busy lifestyles, traffic in large cities, and the growing comfort with app-based services have helped platforms like Yes Madam expand quickly.
Strong Financial Growth in FY25
The company’s financial performance in FY25 shows just how quickly it has scaled.
Yes Madam reported operating revenue of Rs 92.5 crore in FY25, almost double the Rs 45.8 crore it recorded in FY24. The jump reflects both an increase in service bookings and a sharp rise in product sales.
While many startups focus only on growth, Yes Madam has managed to maintain profitability while expanding its business. This is notable in India’s startup ecosystem, where many companies often spend heavily on expansion and marketing before reaching profits.
The company’s steady growth suggests that its business model is becoming more efficient as it scales.
Product Sales Become the Biggest Revenue Driver
One of the most interesting parts of the company’s financial report is the increasing importance of product sales.
In FY25, sales of beauty products generated around Rs 50 crore in revenue. This accounted for about 54 percent of the company’s total operating income.
This means that product sales are now contributing more to the business than the service marketplace itself.
The shift reflects a broader strategy where Yes Madam is not just a booking platform but is also building a beauty commerce business. Customers who book salon services through the app are often encouraged to purchase skincare or beauty products used during their treatments.
By combining services with product sales, the company can increase revenue per customer and build stronger relationships with users.
How the Business Model Works
Yes Madam operates as a platform that connects customers with trained beauty professionals.
When a customer books a service, the company assigns a professional from its network who travels to the customer’s location. The company earns revenue through commissions on each booking.
In addition to service commissions, the company also generates income through product sales on its platform. Beauty professionals may recommend specific products during treatments, which customers can then purchase directly through the app.
This dual-revenue model helps the company diversify its income streams and reduces dependence on a single source of revenue.
Why the At-Home Salon Market Is Growing
The success of Yes Madam reflects a larger trend in India’s beauty and wellness industry.
Consumers are increasingly looking for convenient services that save time and effort. App-based home services platforms allow customers to book appointments quickly and avoid traveling to salons.
There are several reasons why the market is expanding:
Busy Urban Lifestyles
People living in large cities often struggle to find time for salon visits. At-home services eliminate travel and waiting time, making the experience far more convenient.
Digital Adoption
India has seen a surge in smartphone usage and digital payments. This has made it easier for customers to discover and book services online.
Comfort and Privacy
Many customers prefer receiving beauty treatments at home, especially services such as waxing, facials, or massages that require privacy.
Growing Beauty Awareness
The beauty and wellness industry in India is expanding as consumers spend more on self-care and grooming.
These trends are creating a large market opportunity for startups offering home-based services.
Competition in the Home Services Space
Yes Madam operates in a competitive segment where several startups are trying to capture market share.
One of the biggest players in this space is Urban Company, which offers a wide range of home services including beauty treatments, home cleaning, appliance repair, and plumbing.
While Urban Company operates across multiple service categories, Yes Madam focuses mainly on beauty and wellness. This specialized approach allows the company to build deeper expertise in the salon services segment.
By concentrating on a single category, the company can improve service quality, training, and customer experience.
Opportunities for Future Growth
The strong revenue growth reported in FY25 suggests that Yes Madam still has significant room to expand.
The company can explore several growth opportunities in the coming years.
Expansion to More Cities
Currently, the company operates mainly in major urban markets. Expanding to more cities could unlock new customer segments.
Private Label Beauty Products
With product sales already contributing more than half of its revenue, launching its own beauty product brands could be a logical next step.
Subscription-Based Services
Regular beauty services such as facials, waxing, and hair treatments could be offered through subscription plans, helping the company generate recurring revenue.
Technology and Personalization
Using customer data to recommend personalized treatments and products could improve user experience and increase customer retention.
What This Means for the Startup Ecosystem
Yes Madam’s growth story highlights an important shift in India’s startup ecosystem. Companies are no longer focusing only on rapid expansion but are also prioritizing sustainable business models.
The ability to scale revenue while remaining profitable is becoming increasingly important for startups, especially in a funding environment that has become more cautious in recent years.
Platforms that combine services with commerce, like Yes Madam, may have a stronger chance of building long-term businesses.
The Road Ahead
With nearly Rs 100 crore in revenue and profitability intact, Yes Madam appears to be entering a new phase of growth. The company has already built a strong presence in the at-home beauty services market and is now expanding its revenue streams through product sales.
As more consumers embrace the convenience of on-demand services, the demand for home-based beauty treatments is likely to continue rising.
If the company continues to innovate and expand its offerings, it could become one of the leading players in India’s growing beauty services industry.
