The most common dilemma faced by entrepreneurs is understanding if they should expand their business or not. While there are many benefits of expanding a business, there are entrepreneurs who are sceptical of how to take the ventures forward. It is important to understand how to implement sound business strategies. Understanding the market and doing thorough research, entrepreneur Yash Tuteja had a vision to take Meenakshi Salon & Academy spread across Chhattisgarh.
However, this decision was not welcomed by the entrepreneur’s mother, Meenakshi Tuteja. She is the founder who brought Meenakshi Salon & Academy to life. The luxury salon and spa has five outlets across the state in Bhilai, Bilaspur and Raipur. Founded in 1996, the lux salon offers superlative services including beauty, makeup, hair care and spa to clients. Ever since Yash Tuteja took the management of the high-class salon, he has brought a wave of change by inculcating the latest skincare and haircare trends for the clients.
Yash follows a rational approach towards work, and the decision to expand the business was only after the success of the first salon. “Before the idea of expanding the business was carried out, we formulated a sound business plan. My mother was perplexed about the challenges of expansion like delegation of roles and responsibilities, communication barriers and the need to find highly experienced employees. But I had the confidence to flow with the change”, said Yash. Taking this legacy ahead, the rest is history, and the salon has left an impressive mark among everyone.
As of today, Meenakshi Salon has got a team of 200 employees who are highly trained professionals in this field. Interestingly, Yash’s idea of business expansion has given Meenakshi Salon & Academy many benefits. The first being the fact that it has blossomed the customer base not just in Chhattisgarh but other adjoining parts of the other states. Along with it, he has brilliantly diversified the business ventures wherein every salon has a loyal base of visitors. Lastly, and the best aspect of the expansion doing wonders for Yash Tuteja is that the brand awareness of the lux salon has increased both through traditional and digital means of marketing.
In the case of this business, Yash Tuteja opted for the marketing penetration strategy. “While we marketed our business to a specific market segment, it helped us increase the number of customers. More so, the local advertising campaigns and building the digital presence of the brand has also grabbed the attention from one and all”, Yash added. Regardless of the idea of expanding the business, the competitive spirit and the willingness to invest in new technology has worked as a masterstroke for this reputed salon.