According to ASSOCHAM's latest report, "India’s male grooming industry is set to grow at a compound annual growth rate (CAGR) of about 45 percent and touch Rs 35000 crore (approx $5.5 billion) from the current Rs 16,800 crore (approx $2.64 billion)."
The male grooming business is inviting a lot of entrepreneurs, who have knowledge of how male grooming business works and understanding of the market, to take advantage of the booming market opportunities that it offers.
Mahika Yadav, Director, Oxford Cut The Man's Salon, highlights the challenges in the business and how they can be overcome:
Trend Awareness: The trends of fashion and styling are constantly changing in today’s times, so Oxford Cut remains updated with what’s trending in the industry to be able to advise clients and meet their expectations, especially the younger ones.
Hiring Right Staff: The right staff is the way to any effective execution and finding the same is exceptionally troublesome. Oxford Cut has an extremely strict employment strategy. After the meeting, the hopefuls need to go through an exam, where they feature the different abilities they have to identify themselves with being a beautician. We ensure that the majority of our beauticians exceed expectations in everything Oxford Cut offers. We accomplished this simply because of their correct demeanor and their attitude to learn.
True Brand Value: Low brand awareness hampers business growth. Display prices at the front desk or near an entrance, along with promotions. This will help attract authentic business.
Talking about the clients: There are two kinds who will normally come into your salon: return and walk-ins. The dominant part of your business may depend on return business; the individuals who come in and see a similar salon like clockwork or months. Having rebates for returns is an awesome method to demonstrate how you cherish any individual who gives the salon rehash business.
Competition: Though the market is running on cut-throat competition, we tend to stand apart from our competitors in terms of our quality services, good staff and offering. We aim to provide value for money with our great services and offerings which makes all the difference.
