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Today, we have Vivek Narain, Founder of The Quorum, a Member only lifestyle club in Gurgaon with close to $1m ARR. Lifestyle clubs have always existed across the major cities in India. Think the Gymkhanas and Golf Clubs. But, these clubs are now fairly saturated and the philosophy there is to now keep people out as opposed to letting them in. These clubs have been designed for quote , unquote Old Money. And that left space for likes of Quorum to cater to the needs of new money and evolving tastes.
Quorum offers a high end luxurious space for a wide range of services, starting from Hospitality, Wellness, Cultural events and even co-working spaces. The focus is on diversity within the member community and the pricing structure has been designed to keep it more accessible for a wide range of demographic.
This is an asset heavy business, but if done right, can be extremely profitable. We talk to Vivek about the thesis behind Quorum, the economics and what it takes to make a physical private community work.
This was an interesting episode for us, as one of our primary goals with The Indian Dream Project is to build a community of knowledge seeking entrepreneurs to help each other build profitable businesses. And if you have any aspirations to build a community, even a digital one, I recommend you listen to the episode.
A couple of weeks back, we covered the Trend of Paid or Private Communities. We explored the rise of these communities amongst millenials and Gen Z and looked at the opportunities that exist in this space in our Trends Newsletter.