{"id":183457,"date":"2026-08-22T14:36:54","date_gmt":"2026-08-22T09:06:54","guid":{"rendered":"https:\/\/aviaanaccounting.com\/?p=183457"},"modified":"2026-08-22T14:36:56","modified_gmt":"2026-08-22T09:06:56","slug":"business-valuation-fdd-for-salons-spas-in-india","status":"publish","type":"post","link":"https:\/\/aviaan.mindhealth.co.in\/in\/business-valuation-fdd-for-salons-spas-in-india\/","title":{"rendered":"Business Valuation &amp; FDD for Salons &amp; Spas in India"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">India\u2019s salon and spa industry is moving from fragmented, owner-led operations toward more organized, technology-enabled and experience-focused businesses. Consumer demand is increasingly influenced by premium services, wellness, digital discovery, memberships and personalized experiences. Recent industry research also points to premiumization, social commerce, beauty-wellness convergence and AI-led experiences as important developments in India\u2019s beauty market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That creates opportunities for owners of a <strong>beauty salon, hair salon, nail salon, unisex salon, ladies salon or spa<\/strong>. It also creates a harder question: <em>What is the business actually worth, and can its financial performance withstand investor scrutiny?<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is where <strong>Business Valuation &amp; FDD for Salons &amp; Spas in India<\/strong> becomes valuable. Aviaan approaches valuation and financial due diligence as decision-making exercises rather than simply producing numbers. Its <a href=\"https:\/\/aviaanaccounting.com\/\" target=\"_blank\" rel=\"noopener\">Business Valuation Services<\/a> can help owners, investors and entrepreneurs understand sustainable earnings, operating risks, normalized cash flows and transaction readiness.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"543\" src=\"https:\/\/aviaanaccounting.com\/wp-content\/uploads\/2026\/01\/image-44-1024x543.png\" alt=\"Business Valuation &amp; FDD for Salons &amp; Spas in India\" class=\"wp-image-105295\" title=\"\" srcset=\"https:\/\/aviaan.mindhealth.co.in\/in\/wp-content\/uploads\/2026\/01\/image-44-1024x543.png 1024w, https:\/\/aviaan.mindhealth.co.in\/in\/wp-content\/uploads\/2026\/01\/image-44-300x159.png 300w, https:\/\/aviaan.mindhealth.co.in\/in\/wp-content\/uploads\/2026\/01\/image-44-768x407.png 768w, https:\/\/aviaan.mindhealth.co.in\/in\/wp-content\/uploads\/2026\/01\/image-44.png 1132w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Is your salon\u2019s reported profit actually its sustainable business value?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Aviaan\u2019s valuation approach starts by separating accounting results from the economic performance of the salon or spa. Owner-managed businesses often contain personal expenses, related-party transactions, unusual costs, informal revenue practices or one-off items that can distort EBITDA and cash flow.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How do you value a salon or spa in India?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A salon or spa is generally valued by assessing normalized earnings, cash flows, assets, liabilities, customer economics, operating risks and comparable market evidence.<\/strong> The appropriate methodology depends on the business, purpose of valuation and quality of available information.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For a growing salon chain, an earnings or discounted cash flow approach may be more meaningful than simply valuing furniture and equipment. For a small owner-operated salon, maintainable earnings may receive greater attention.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Aviaan typically examines:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue by service, branch and channel<\/li>\n\n\n\n<li>EBITDA and operating margins<\/li>\n\n\n\n<li>Customer retention and repeat visits<\/li>\n\n\n\n<li>Average ticket size and service mix<\/li>\n\n\n\n<li>Staff productivity and commission structures<\/li>\n\n\n\n<li>Rent and occupancy costs<\/li>\n\n\n\n<li>Memberships, packages and prepaid revenue<\/li>\n\n\n\n<li>Product sales alongside service revenue<\/li>\n\n\n\n<li>Working capital requirements<\/li>\n\n\n\n<li>Capital expenditure and refurbishment needs<\/li>\n\n\n\n<li>Owner dependence and management depth<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The valuation should also distinguish between <strong>reported profit and normalized profit<\/strong>. For example, an owner drawing an unusually high salary, paying personal expenses through the business or receiving non-recurring income can materially affect maintainable earnings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This matters because a buyer usually pays for the future economic benefits of the business\u2014not simply its historical accounting profit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Are hidden financial and operational risks putting your salon deal at risk?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Aviaan\u2019s financial due diligence, or FDD, is designed to test whether the financial story presented by a salon or spa stands up to detailed examination. ICAI describes due diligence as investigation and evaluation of financial and non-financial matters before committing capital, including identifying potential issues and obtaining a realistic picture of current and future performance.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What does FDD check before buying a salon or spa?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>FDD checks the quality of revenue, profitability, cash flows, working capital, debt, liabilities and other financial matters that could change the economics of a transaction.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For salons and spas, this can be particularly important because the business may have multiple payment channels and service categories.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A focused review can test:<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>Revenue completeness<\/strong> \u2013 whether POS, bank, payment gateway and accounting records reconcile.<\/li>\n\n\n\n<li><strong>Revenue quality<\/strong> \u2013 whether sales are recurring, promotional, package-driven or dependent on a few customers.<\/li>\n\n\n\n<li><strong>Gross margins<\/strong> \u2013 whether product and consumable costs are properly captured.<\/li>\n\n\n\n<li><strong>Payroll<\/strong> \u2013 salaries, commissions, incentives, contractors and staff turnover.<\/li>\n\n\n\n<li><strong>Rent exposure<\/strong> \u2013 lease terms, escalation clauses, deposits and renewal risks.<\/li>\n\n\n\n<li><strong>Working capital<\/strong> \u2013 receivables, supplier balances, inventory and customer advances.<\/li>\n\n\n\n<li><strong>Debt and liabilities<\/strong> \u2013 loans, unpaid statutory dues, vendor claims and other obligations.<\/li>\n\n\n\n<li><strong>Cash conversion<\/strong> \u2013 whether accounting profits translate into actual cash.<\/li>\n\n\n\n<li><strong>Related-party transactions<\/strong> \u2013 transactions involving owners, promoters or connected entities.<\/li>\n\n\n\n<li><strong>One-off items<\/strong> \u2013 unusual income or expenditure that should not be projected forward.<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">A salon can appear highly profitable while carrying significant prepaid-package obligations, under-recorded expenses or branch-level losses. FDD helps bring those issues into the transaction discussion before they become expensive surprises.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Are you using the right valuation method for your salon, spa or beauty business?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Aviaan evaluates the commercial characteristics of the business before selecting a valuation framework. The objective is not to force every salon into one formula.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Should a salon be valued on EBITDA, revenue or assets?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>There is no universal salon valuation multiple; the appropriate approach depends on normalized earnings, growth, risk, assets, customer quality and transaction circumstances.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An EBITDA-based approach may suit an established multi-location salon with reliable financial records. A discounted cash flow model can be useful when a business has credible expansion plans and forecastable cash flows.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An asset-based approach may have relevance where tangible assets are significant, but it can understate the value of a strong brand, loyal customer base, trained team, location economics or recurring membership model.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Aviaan can combine methods where appropriate and reconcile the outputs rather than relying mechanically on a single valuation technique.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, two unisex salons with identical annual revenue could have very different values if one has:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Better repeat-customer rates<\/li>\n\n\n\n<li>Stronger branch-level margins<\/li>\n\n\n\n<li>Longer lease tenure<\/li>\n\n\n\n<li>Lower owner dependence<\/li>\n\n\n\n<li>Better staff retention<\/li>\n\n\n\n<li>Documented operating processes<\/li>\n\n\n\n<li>Stronger digital customer acquisition<\/li>\n\n\n\n<li>Cleaner tax and accounting records<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The valuation therefore needs to examine <strong>quality of earnings and quality of operations<\/strong>, not revenue alone.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What should an investor investigate before acquiring a salon chain?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Aviaan combines financial analysis with transaction-focused questions so investors can understand what they are actually acquiring.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What are the biggest red flags in salon and spa FDD?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Common red flags include unexplained revenue differences, weak cash controls, owner dependence, undocumented liabilities, aggressive earnings adjustments, poor branch economics and inadequate statutory records.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A buyer should pay particular attention to branch-level performance. A profitable consolidated business may contain individual outlets that consistently destroy cash.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Customer concentration can also matter. A premium ladies salon dependent on a small number of stylists or a spa dependent on a particular corporate or hotel relationship may carry greater operating risk than headline revenue suggests.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Other practical warning signs include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>High employee turnover without a clear retention strategy<\/li>\n\n\n\n<li>Large prepaid packages without appropriate revenue recognition<\/li>\n\n\n\n<li>Frequent cash transactions that cannot be reconciled<\/li>\n\n\n\n<li>Significant related-party expenses<\/li>\n\n\n\n<li>Heavy dependence on discounts<\/li>\n\n\n\n<li>Weak inventory controls<\/li>\n\n\n\n<li>Expiring or restrictive leases<\/li>\n\n\n\n<li>Unclear ownership of trademarks or brand assets<\/li>\n\n\n\n<li>Unresolved tax or statutory matters<\/li>\n\n\n\n<li>Forecasts based only on aggressive branch expansion<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The purpose of FDD is not to kill a transaction. It is to convert unknown risks into measurable commercial decisions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Are regulatory and compliance issues affecting the value of your salon?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Aviaan incorporates regulatory and documentation considerations into transaction analysis because compliance gaps can affect both negotiation and post-acquisition costs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Does a salon valuation require an IBBI-registered valuer?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Certain valuations required under the Companies Act, 2013 or insolvency framework must be performed by an appropriately registered valuer; a commercial valuation prepared for planning or negotiation is a different matter.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Insolvency and Bankruptcy Board of India (IBBI) states that the Companies (Registered Valuers and Valuation) Rules, 2017 provide the regulatory framework for registered valuers, including requirements around qualifications, registration, valuation standards and professional conduct.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Depending on the transaction, the review may also need to consider GST, income-tax records, payroll obligations, contracts, leases, local registrations, intellectual property and other applicable requirements.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The exact compliance scope depends on the legal structure, state, transaction type and nature of the salon or spa. Aviaan can help identify financial and documentation gaps and coordinate specialist support where a statutory opinion or regulated professional is required.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How can you prepare a salon or spa for an investor before negotiations begin?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Aviaan recommends preparing the financial story before approaching investors, rather than waiting for the buyer\u2019s diligence team to identify weaknesses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What should a salon owner prepare for valuation and FDD?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Prepare clean financial statements, branch-level performance data, reconciliations, contracts, tax records, customer and revenue information, employee data and a defensible business forecast.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A practical preparation checklist includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Three to five years of available financial information<\/li>\n\n\n\n<li>Monthly revenue and expense data<\/li>\n\n\n\n<li>Branch-wise profit and loss statements<\/li>\n\n\n\n<li>Bank and payment-gateway reconciliations<\/li>\n\n\n\n<li>GST and income-tax records<\/li>\n\n\n\n<li>Payroll and commission information<\/li>\n\n\n\n<li>Lease agreements<\/li>\n\n\n\n<li>Major supplier and franchise agreements<\/li>\n\n\n\n<li>Debt schedules<\/li>\n\n\n\n<li>Fixed-asset records<\/li>\n\n\n\n<li>Inventory reports<\/li>\n\n\n\n<li>Membership and package data<\/li>\n\n\n\n<li>Related-party transaction details<\/li>\n\n\n\n<li>Management forecasts and expansion plans<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">A <strong>financial model<\/strong> can then connect customer visits, average ticket size, service mix, staffing, rent and branch expansion to future revenue and cash flow.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is particularly useful for entrepreneurs seeking funding because investors can challenge assumptions before they become negotiation problems.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How Aviaan Can Help<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Aviaan supports salon and spa owners, entrepreneurs and investors through valuation and transaction-readiness work that connects financial analysis with commercial decision-making.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">When should you engage Aviaan for valuation and FDD?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Engage a valuation and FDD advisor before signing a binding transaction, finalizing a purchase price or presenting the business to investors.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Depending on the requirement, the engagement can cover:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Business valuation<\/li>\n\n\n\n<li>Financial due diligence<\/li>\n\n\n\n<li>Quality of earnings analysis<\/li>\n\n\n\n<li>Financial modeling<\/li>\n\n\n\n<li>Forecast review<\/li>\n\n\n\n<li>Transaction support<\/li>\n\n\n\n<li>Business advisory<\/li>\n\n\n\n<li>Feasibility analysis<\/li>\n\n\n\n<li>Investor or lender preparation<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The strongest outcome is usually achieved when valuation and FDD are considered together. Valuation asks <strong>\u201cWhat could this business reasonably be worth?\u201d<\/strong> FDD asks <strong>\u201cCan the financial evidence support that conclusion?\u201d<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why Choose Aviaan for Salon &amp; Spa Financial Advisory?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Aviaan\u2019s approach is designed around practical business decisions rather than generic financial reporting.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What makes an industry-focused valuation approach useful?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Industry-focused analysis helps connect financial performance with the operational drivers that actually create value in salons and spas.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Relevant areas of expertise include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Service-business economics:<\/strong> analyzing revenue by treatment, stylist, branch and customer segment.<\/li>\n\n\n\n<li><strong>Quality of earnings:<\/strong> identifying sustainable versus exceptional or owner-specific earnings.<\/li>\n\n\n\n<li><strong>Branch-level analysis:<\/strong> assessing mature, new and underperforming locations separately.<\/li>\n\n\n\n<li><strong>Transaction readiness:<\/strong> organizing financial information for investor or buyer review.<\/li>\n\n\n\n<li><strong>Financial modeling:<\/strong> linking operating assumptions to forecasts and cash flows.<\/li>\n\n\n\n<li><strong>Risk assessment:<\/strong> identifying financial, contractual and operational issues that can affect value.<\/li>\n\n\n\n<li><strong>India-focused advisory:<\/strong> considering Indian accounting, taxation, compliance and transaction considerations.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Where a legally mandated valuation requires an IBBI-registered valuer, the appropriate registered professional should be involved. This distinction is important for maintaining a credible and compliant transaction process.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Frequently Asked Questions About Salon &amp; Spa Valuation and FDD<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">How much does business valuation for a salon cost in India?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The cost depends on business size, number of branches, complexity, valuation purpose and quality of financial information.<\/strong> A single-location salon with organized accounts requires a different scope from a multi-city spa or salon chain.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Is FDD necessary if the salon is already profitable?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Yes, because profitability alone does not establish the quality or sustainability of earnings.<\/strong> FDD can identify unusual income, hidden liabilities, working-capital requirements and operational issues that may change the transaction value.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is the difference between business valuation and financial due diligence?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Valuation estimates economic value, while FDD tests the financial information and risks underlying that value.<\/strong> Using both provides a stronger basis for investment and acquisition decisions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Can a small beauty salon be valued for sale or investment?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Yes.<\/strong> Small salons can be valued using appropriate earnings, cash-flow and asset considerations. The challenge is often obtaining reliable financial records and separating owner-specific expenses from normal operating costs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">When should I conduct valuation and FDD\u2014before or after agreeing on price?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Ideally, before the commercial terms become difficult to change.<\/strong> Early analysis gives an owner or investor greater leverage to adjust price, structure, warranties, conditions or deal terms based on evidence.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion: Make the Numbers Work Before You Make the Deal<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Indian salon and spa sector is becoming more organized, experience-led and technology-enabled, creating attractive opportunities for expansion, investment and consolidation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But growth alone does not determine business value. Sustainable earnings, customer retention, branch economics, lease commitments, staff productivity, cash generation and financial transparency all influence what an investor or buyer should pay.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Business Valuation &amp; FDD for Salons &amp; Spas in India<\/strong> gives owners and investors a structured way to answer two critical questions: <em>What is the business worth?<\/em> And <em>what risks could change that value?<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you are preparing to sell a salon, acquire a spa, raise investment, expand into new Indian cities or assess the value of an existing beauty business, Aviaan can help you build the financial evidence behind the decision. Visit <a href=\"https:\/\/aviaanaccounting.com\/\" target=\"_blank\" rel=\"noopener\">Aviaan<\/a> to explore valuation and financial advisory support.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Learn how valuation and FDD help Indian salon and spa owners assess value, uncover risks, and negotiate better transactions.<\/p>\n","protected":false},"author":1,"featured_media":105295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[76],"tags":[],"class_list":["post-183457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"acf":[],"_links":{"self":[{"href":"https:\/\/aviaan.mindhealth.co.in\/in\/wp-json\/wp\/v2\/posts\/183457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aviaan.mindhealth.co.in\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aviaan.mindhealth.co.in\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aviaan.mindhealth.co.in\/in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/aviaan.mindhealth.co.in\/in\/wp-json\/wp\/v2\/comments?post=183457"}],"version-history":[{"count":0,"href":"https:\/\/aviaan.mindhealth.co.in\/in\/wp-json\/wp\/v2\/posts\/183457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aviaan.mindhealth.co.in\/in\/wp-json\/wp\/v2\/media\/105295"}],"wp:attachment":[{"href":"https:\/\/aviaan.mindhealth.co.in\/in\/wp-json\/wp\/v2\/media?parent=183457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aviaan.mindhealth.co.in\/in\/wp-json\/wp\/v2\/categories?post=183457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aviaan.mindhealth.co.in\/in\/wp-json\/wp\/v2\/tags?post=183457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}