In the 90th episode of Jam with Sam, hosted by Sampath Iyengar, we welcomed Vikram Bhatt, the visionary behind Enrich Salons. Vikram shared his intriguing transition from a corporate professional to the founder of India’s leading salon chain. His candid insights into entrepreneurship, scaling a business, and the challenges of the grooming industry offer valuable lessons for aspiring entrepreneurs.
School Days and Early Career
Vikram Bhatt’s journey began in Mumbai, where he spent his formative years at Somaiya College. Despite some academic struggles—taking six years to complete a degree that should have taken three—Vikram learned perseverance. After earning his postgraduate degree, he ventured into the corporate world. He worked with reputed companies such as Bombay Burmah and Accenture, gaining invaluable experience in scaling operations and managing transitions.
The Birth of Enrich – An Accidental Journey
Enrich Salons began in 1997 as an unplanned venture when Vikram helped a friend set up a salon. This “accidental” entrepreneurial endeavour quickly transformed into a passion project. Early milestones included:
- Introducing loyalty programs to retain customers.
- Educating technicians to elevate service standards.
- Creating transparency through printed service menus, was a novel idea in the late 1990s.
By 2004, Vikram and his partners realized the potential for growth and formally structured the business, scaling to 12 salons by 2010.
Scaling Up: Vision and Strategy
In 2011, Vikram made the bold decision to leave his corporate career and dedicate himself full-time to Enrich. Over the next four years, the brand expanded from 12 to 55 salons across six cities, including Mumbai, Pune, and Bangalore. Key growth strategies included:
- Raising equity funding from investors like JM Financial and W Bridge Capital.
- Focusing on robust internal processes, such as inventory management and salary automation.
- Leveraging technology for appointment scheduling and customer feedback.
Innovation and Challenges in the Salon Industry
Vikram highlighted Enrich’s unique edge in a competitive grooming market. Unlike many, Enrich avoids franchising to maintain quality and control. Their tech-forward approach includes biometric attendance, centralized booking systems, and data-driven performance tracking for staff.
Additionally, the brand stands out for its commitment to social causes. Enrich teams frequently organize grooming sessions for orphanages, old-age homes, and even city workers. This emphasis on giving back builds both employee morale and customer loyalty.
Staying Relevant in a Digital World
In a world dominated by social media, Vikram views platforms like Instagram and Facebook as necessary tools. However, he emphasizes balance, ensuring that content doesn’t overwhelm audiences. Enrich uses digital media effectively to engage customers, promote services, and gather real-time feedback, with an impressive 19% response rate on post-service reviews.
The Future of Enrich
Despite international aspirations, Vikram is laser-focused on untapped opportunities in India’s top cities. He remains cautious about adopting a franchise model but is open to exploring it in the future. For now, the priority is maintaining Enrich’s reputation for high-quality, customer-centric services.
Closing Thoughts
Vikram Bhatt’s journey exemplifies the power of adaptability, innovation, and resilience. From a humble start to leading an 86-salon empire, he remains grounded, emphasizing transparency and customer satisfaction. His story is an inspiration to entrepreneurs seeking to turn passion into purpose.
About Vikram Bhatt:
Vikram Bhatt is the Founder & Director of Enrich Salons, a pioneer in India’s grooming industry. A finance professional turned entrepreneur, he is known for his structured approach to business, focus on innovation and commitment to social causes. Under his leadership, Enrich has grown into one of India’s most trusted salon brands.