NoBroker now offers you home salon services in Bengaluru
What's the story
Prop-tech platform NoBroker Technologies Solutions Pvt. Ltd has entered the home salon services market with its new offering, Zivora. The service was launched in Bengaluru and will expand to other cities such as Delhi-NCR, Pune, Hyderabad, Chennai, and Mumbai within two months. The move comes as a response to high customer demand for these services.
Market entry
Expanding service offerings
Amit Kumar Agarwal, co-founder and CEO of NoBroker, explained the company's decision to enter the home salon services market. He said they already provide a range of services such as painting, cleaning, appliance repair, AC servicing, plumbing, and carpentry. With 200,000 homes served every month through these services, Agarwal questioned why they weren't in salon services yet given high customer demand.
Strategic decision
Cautious approach to competition
Despite recognizing the high demand for instant help services, NoBroker is cautious about entering this segment. Agarwal said the competition is fierce and many players use it as a customer acquisition strategy to sell home or salon services. However, he added that once pricing stabilizes in the future, they might consider entering this space as their home-services business is already profitable.
Service launch
Rapid growth in home salon services
NoBroker has hired 200 professionals in Bengaluru for its home salon services, which were launched this month. The average ticket size for these services is ₹1,250, while the national average ranges between ₹800 and ₹1,500. In just 10 days since launch, NoBroker claims to have an active customer base of 5,000 with a retention rate of 50%.
Growth strategy
Focus on profitability and IPO preparation
Looking ahead, NoBroker is focused on becoming fully cash profitable in the next 12 months. The company also plans to prepare for an initial public offering (IPO) in the following 12-18 months.