HJ Exclusive: How Software Brand Zenoti Plans to Disrupt the Hair Industry
HJ can reveal exclusively that software brand Zenoti has said it will use its new $160 million funding to disrupt the professional hairdressing industry’s software sector.
The cloud-based platform, which works with TONI&GUY and Rush Hair & Beauty salons within the UK has received $160 million in funding led by Advent International. This means the company is now valued at over $1 billion and has reached ‘unicorn’ status (the name given to companies worth over $1 billion).
Zenoti’s CEO Sudheer Koneru told HJ exclusively how it plans to use this extra funding: “We plan to expand to offer more solutions to the industry beyond our current platform capabilities. These include chatbot solutions, AI-based algorithms for efficient employee scheduling, inventory purchases and dynamic pricing for the industry.”
Sudheer added: “We also see a lot of older software solution companies which may present a consolidation opportunity in the industry.”
How does software brand Zenoti plan to disrupt the hair industry?
How does software brand Zenoti plan to use the funding it has received to disrupt the way software solutions are used? Sudheer said: “We plan to ensure professionals in the industry can focus on doing a fabulous job of their craft, while completely automating every aspect of their business. We play our own part in helping them feel good and discover new growth opportunities for their business. We believe that the industry is ripe for guest experiences to be transformed to become Uber-like, where drivers just drive and Uber takes care of getting them rides, ensuring money is collected and everyone gets paid the right amount. We will transform the beauty and wellness industry in a similar way.”
Who does software brand Zenoti currently work with?
Zenoti uses its technology to address the needs of multi-centre hair salon chains such as Rush Hair & Beauty and TONI&GUY. Its aim is to offer a seamless connection across numerous stores and businesses so they can analyse their performance more easily. The brand also specialises in touchless systems from booking to paying for clients and staff.
Zenoti’s tips for how hair salons can streamline operations in 2021 and beyond
- Using referral mechanisms when guests have a good experience is one of the best ways to help spread the word on how well operated businesses are delighting customers.
- Automate the administrative tasks. Automating tasks such as how many employees to schedule at each hour in a week or how much product to order each month.
- Take advantage of any AI algorithms available to remove the guess work and drive greater profitability for your business.