Wealth and luxury always go hand in hand. As a rising economy, India is a key part of the global luxury spa market. Emerging as a leading player in the global spa market, India has been featured with the biggies in the industries right after Europe and America. India has the potential to exceed the revenue of $154.6 billion by the year 2022.
Today, the wellness spa market in India is observing a steady growth of 8 percent in every quarter of the present business year over the past decade. And, this is not even the full potential of the reach of the spa market in India, which is still pretty untapped.
A spa is a commercial enterprise that offers top-of-the-line health and beauty treatments. A natural mineral spring that has some health-giving properties can also be considered a spa. The spa market is now a new product of the health market which had been used by various people over the centuries with different names. Today, it had been relaunched under a more uniform way by capitalists sensing the vast profit margin of their venture.
Let’s take a look at some of the Spa ventures and understand their revenue models–
Four Fountains De-Stress Spa
To make India healthy and stress-free, it is very important for them to have massages. With this in mind, the desi boys started a company in 2007 that is the most budget-friendly spa in the market today. The founders of the company are Sunil Rao, Anurag Kedia,and Saurabh Garg. The revenue model is quite unique as the spa offers pre-paid memberships that make the very affordable spa therapies all the more affordable.
The membership cards come with discounts on weekdays, weekends. Any family member of the cardholder can use the services of the spa. The family members are also qualified to avail the discounts offered at the spa on the card at any given time. The spa is located in 30 of the major cities in India including Delhi, Mumbai,Pune, Bangalore,Gurgaon to name a few.
O2 Spa
Founded in 2008 by Ritesh Reddy Mastipuram, O2 Spa is a day spa and is one of the flag bearers supporting the cause of making India stress free. O2 Spa has a very affordable revenue system to encourage and promote wellness among people everywhere. With special discounts and packages offered by the spa just about anyone can avail the services of the spa on a regular basis. The spa is operating across 60 centers in 17 different cities at present. The proprietors also have plans to open at least 150 outlets in 30 cities by year-end in India as well as abroad, at airports or in star hotels.
Raas Devigarh
The beautiful castle was established in the year 1760, under the watchful eyes of Rajrana Sajja Singh II but with the passing time, it fell to tatters. In the year 1999, it was restored to its former glory. The castle has since been turned into an all-purpose hotel with a world-class spa along with it. The spa is operated by the authentic British brand, ILA. The top-notch services offered is a cut above the rest and has many a recipient return after they get a taste of the luxury offered. The spa has also increased the revenue of the hotel by a good 13% that is increased every year.
Conclusion
Today, the spa market is urbanizing and expanding drastically, but is still barely coping with the demand. It is due to the awakening of the middle class to the possibility of the spa as an answer to their stress-related problems. This coupled with the new economic boom and the economic multi-use packages have aided in the growth of the spa market in India. It is also highly demanding among Bollywood celebrities from Alia Bhatt to Karan Johar as it aids one and all to wind down after a stressful event.
