For an Indian brand to expand across their nation is an important step but it should also work towards making the name global since it’s a crucial part.
Spa and relaxation go hand in hand. People visit a spa to relieve themselves from stress and bask in the goodness the services offer. The spa industry has been expanding well and there are many options to choose from. The variations that are coming up in the industry are also appreciated. Customers have a plethora of spas with each one of them having a speciality of their own. For a brand that plans to enter newer markets, the success rate for them is quite big as they get connected to a wide category of customers. Spa brands have recently been keen on experimenting and moving ahead from their basic massages and therapies that have become very common. People want to try something new in the spa category and so do the brands while not compromising on the quality they have maintained. In a conversation with Ritesh Mastipuram, Owner, O2 spa, for Indian Salon and Wellness Year Book 2017, he tells us about his entrepreneurial journey and also gives advice to new entrepreneurs in the spa business.
Kindly give a brief about your brand, O2 Spa.
O2 spa is trying to expand itself by entering newer markets and finding appropriate space to foot-jam, thus reaching out to wider locations and go where the customers are. It has its presence in over 18 cities and four locations in UAE with over four lakh customers per year. The brand currently services over 30,000+ customers per month and has been able to make a huge impact in reducing the stress levels of the millennial. It serves 1500+ guests on any particular day and has over 1000 trained professionals. It is spread across many locations in India, UAE and USA and has an affiliate partnership with many hotels and corporate companies which include Google, Induslnd Bank and more.
Let us know something about your entrepreneurial journey.
I am an engineer turned entrepreneur who ventured into the wellness industry in 2008. I started the O2 spa using Rs 30 lakhs from my personal savings and today the company is Asia’s biggest and India’s first organised spa chain. Knowing our culture has been entwined with the theory of wellness from centuries, I took a risk to dive into the industry nine years back. I was careful at every step, with 13 years of experience in five non-related sectors. I knew where I was heading, I delved into the spa and salon market with an ambition of making the industry-relevant across geographies.
What would be your advice to the new entrepreneurs who are in the spa business?
Entrepreneurs who are looking to explore spa business should travel across cities or countries and try incorporating new innovations to their business, need to be persistent, patient have self-belief and should continue to achieve excellence.
What are the brand’s business model and expansion plans?
All outlets of the O2 spa are company owned and operated. The company has invested $15 million in expanding its operations in the country and abroad. It aims to grow from its current base of 90 plus outlets in 20 cities to 200 outlets across 30 cities which includes tier 1 and tier 2 cities.