Verdure Wellness: rejuvenating life through wellness products and equipment
It is a natural human tendency to get attracted to leisure activities. There is an English idiom, 'all work no play makes Jack a dull boy.' And if the leisure activities possess the element of health, then it becomes icing on the cake. Historically, wellness through leisure activities traces its roots to the Roman and Greek civilizations and more precisely in the bronze age. At that time such activities were confined to certain classes only. Its shape changed with due course of time and now it is available for masses availing the fruit of Neo-liberalism in much more organized and advanced form. Verdure Wellness is such an organization established in 2017 by two young professionals Aman Jain and Prabaarja Bedi. Verdure Wellness acts as a one-stop solution for all kind of exclusive, high-end range spa and wellness products & equipment for Sauna, Steam, Jacuzzi, Swimming Pool, and Gym. Aman discovered an opportunity as there was the lack of an established agency in wellness product supply.
Our editorial team spoke to Aman Jain, Co-founder, and Director. Here are the edited excerpts.
What problem does your company solve and how are you different from others?
Unlike other firms, we are a one-stop solution company in wellness product supply. In order to update India with latest technologies, we have made international tie-ups while already introduced compact pool concepts and Auto descaling steam generators in the market.
Tell us about your first client and the revenue expectations over the next year
Our first residential client was a villa in Gurgaon Phase 2, they assigned us with a contract of setting up their steam and Sauna Rooms, and our first commercial client was Jaipur Le Meridien to set up their Steam rooms. We expect our revenue to grow by 500% due to additional sales from new products in Jacuzzi and Gym lines.
The market outreach, opportunities, and growth
We are expecting rapid growth in the next five years as a lot of people are now focusing on fitness and therapies. Considering the extensive coverage of our products, we are aiming at the wide population of the entire market. We expect to gain about 25% of the market share by September 2020.
Why do users prefer your products and services?
Users care about the health benefits achieved by using our products. Our product Lifecycle has 12 stages, the start of planning, roadmap complete, product drivers approved, product concept approved, product development kick-off complete, design & requirement freeze, Go-to-market strategy approved, Launch preparation complete, Launch, Ramp-up complete, Mid-cycle update, Ramp-down complete.
What are the challenges that your company currently faces?
As a developing economy, the regulatory and legal Environment in India throws a big challenge. Due to the minimal quality benchmarks and rules, enterprises often employ the cheapest, untrained labor, and sell uncertified products. The rate of interest for corporate loans in the formal sector is quite high averaging around 11% compared to 3% in developed countries, the heavy burden on interest payment thus restricts expansion. In India enforcing contracts also create problems and easily let down by vendors or customers. We believe in following policies of limited credit allowance and carefully evaluating vendor commitments with their capacity.
Who are your clients? How do you work on your long-term relationship with your clients?
Our client list includes some very prestigious names DLF, Marriott, Novotel, Hyatt, Taj Hotels, Wave Infratech, RG Group, JW Marriott, Radisson. We had sustained long-term relationships by ensuring reliable and prompt service, catering to the doubts, keeping touch even in the absence of new projects and guiding them whenever they seek clarifications.
How are you bursting the Myth of Sisyphus?
In order to avoid mundanity, we focus on flexibility, allow Work from home, flexible working hours. We constantly provide training for skill up-gradation and offer exciting growth opportunities to our technical staff. For the sales team, we ensure high bonuses basis performance.
We won projects from clients such as Marriott, DLF, Hyatt, and Radisson and entered into an agreement with two leading brands Aquavia and Harvia for representing them in the Indian market.
The Road Ahead
We plan to open live display showroom to engage customers through an experiential design. We also want to expand the firm across India into four geographical clusters. Hitherto we only focused on the North Indian B2C market and will soon start targeting the B2B dealer network. We are planning to establish Verdure in Tier 1 and Tier 2 cities of North India through an extensive B2B network of 50 dealers in the next six months.
How do you learn in your life?
Prior to Verdure, I worked for KPMG India and AIG while learning from the projects undertaken. I also worked in Australia and South Korea and thus availing strong diverse exposure.
Does your idea already exist in the same way you were going to create it?
We have been some company's deal in many similar products but the entire product line is not present with any such company in India that we are aware of.
Tell us about when you failed. How did you overcome?
Trying to teach English in a government school as a volunteer was a failure. I overcame it when I understood the importance of the relatable target group and plan.
What was the most difficult lesson you have learned as an entrepreneur?
Rome was not built in a day. Success also does not come overnight. There are no work hours you will most probably leave a wonderful 8-hour per day work schedule with limited responsibility and enter into a profile with no fixed hours. The leader is expected to be responsible for even a small company error.
What advice can you give entrepreneurs who want to venture into the same domain in the future?
There are tremendous opportunities in Tier 2 cities in India. The competition is limited, and a strong market demand is gradually emerging.