How much sleep do you need a day? The rule of thumb is 8 hours, but in today’s fast paced society getting a full 8 hours may seem like a luxury, not a need. And that’s what Nicholas Ronco did, he turned sleep into a luxury.
Inspired by the sight of New Yorkers napping in bathroom stalls and parking lots, Nicholas Ronco saw the need for a sleep sanctuary and opened YELO in February 2007. At YELO people can pay for a power nap, reflexology, detox treatments or any combination of the three.
Since opening its doors in New York City, 4,000 people have napped in a YeloCab (or YeloChair) and experienced the benefits of a power nap. Naps range from 20 minutes ($15) to 40 minutes ($28). Ronco’s first year of business generated $400,000 in revenue. This year, revenue is growing at an average of 23% a month and sales are projected to reach 1.3 million.
What basic need can you turn into a luxury?
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