Venture Concept No. 2 -- 29A

Opportunity -- Glow Facial Bar

• There is currently not a specialized business specific to the facial or skin care market, creating an opening for fast, efficient skin-care only services.
• The global skin care products market size is valued at $134.8 billion and is only projected to expand. With the high popularity of skin care, a specialized service business catering to facials and skin care services will tap into the already established market. 
• Skin in general is a huge insecurity and priority for many people, though without the right practices, products and guidance, consumers are hard pressed to establish professional level skin care from their own home. 
• With that being said, Glow Facial Bar, capitalizes on the trend set by other sole-service powerhouses, like the Dry Bar, catering to one market and doing it at an appealing price with the convenience of not having to go to a full-fledged spa.
• The market for this opportunity is defined traditionally by women ages 18-40 but I don't think it should be limited to gender or age, as it could appeal to men as well and any age really. With that being said, I think this facial bar would be most popular with women of that age demographic. 
• Customers are currently satisfying their need by getting their facials or skin care services completed at a spa when they have the extra time or money available. More likely though, I think most of my potential customers are not seeking professional services at all considering the gap in the market. To replace their lack of professional services, potential customers are most likely supplementing with at-home skincare products. There is a sort of loyalty to at home services or a professional a customer is comfortable with but overall I think they could be swayed considering there really aren't very many alternatives to be loyal to. 
• Potential customers: Mostly women ages 18-40, not limited to men. I will target services to women but through the service menu and promotional opportunities, I will capitalize on how to incorporate men with a tailored male facial service on the menu in addition to couples deals, etc. 

Innovation

• The business I came up with to meet the demand and gaping need in the skin-care service industry is Glow Facial Bar, similar to that of Dry Bar, which caters to a blow out and style for your hair market. 
• The facial bar will offer specialized services of varying types of facials. 
• It would be membership-based in addition to welcoming of walk-in or appointment clients. The memberships would offer more perks, like package deal discounts, private offers, group offers, etc. Glow Facial Bar is a true experience from the moment a client walks in the door to the moment they leave. 
• This means the atmosphere, options and deals create the perfect ambiance to ensure clients will return to and want to spread the word about through social media and their friends commending its quality and prices, uniqueness and trendiness.
• Profits will come from the services themselves, in addition to products and alcohol being sold on location. Additionally, membership packages or fees will produce profit as well.

Venture Concept

• My innovation will accommodate this open gap in the market of an already successful industry by presenting a service of the facial bar to a customer base that has limited options. 
• Again, customers will use Glow Facial Bar due to the lack of another alternative, in addition to the experience factor and convenience of the quality facial without the high price tag or hassle of a full-fledged spa.
• Customers with already established estheticians or favorite salons will switch to my service because of its access, overall experience, appeal, quality and lack of competitors for a paralleled service that Glow Facial Bar will offer. 
• Pricing is extremely crucial because my business is offering an expenditure that is more of a luxury, however, I am targeting my prices to make them affordable and accessible so that clients can create a maintenance routine of coming into the facial bar, much like a woman gets her nails done consistently, she could use the facial bar as another maintenance point.
• Customer service is also really important, considering the facial bar will be wholly client-based and cater to a unique experience, our employees will be trained to make each client and service be special and centered to a particular client's needs. A key part of establishing this high customer service and clientele will be through building our social media following, launching campaigns to show how tailored to each customer our service truly is to create that consistent clientele.
• I think starting small with the number of employees will be a main proponent of early success in the business in order to accurately match the clientele, menu of services, and amount of clientele. Starting small and growing our business along with our clientele is the most logical so that we don't overuse funds. 

Three Minor Elements

• My most important resource and my declared unfair advantage truly is that there is not really another business catering to this market. With the proven success and prevalence of skincare and maintenance for beauty in general, this is what will drive customers to try out Glow Facial Bar and hopefully return. Being able to hone my business in a market of limited alternatives will leave my customers not having much to compare it too, which in essence will allow the quality, pricing and purpose of my business idea to speak for itself and establish the clients.
• What's next for my facial bar is to find people willing to invest in Glow in efforts to get it off the ground. These investors will have to be the right fit and truly understand the vision and appeal of what the business could be not only right now or in the near future, but longterm perhaps expanding into multiple locations or even our own line of skincare.
• What's next for me personally, if I would continue on with this business idea, would probably be to refine my plan for the business and identify whether I see this going the distance as my sole career or if I would be okay growing it to a profitable point to sell and then start from scratch again on another path.

Feedback

• My feedback on my last Venture Concept was generally positive. All of the feedback really commended my idea and identified the attention it could attract due to the similar success of express hair services in addition to the lack of competition. I also had a comment that suggested this idea might take a while to get off the ground, so I adjusted to find a solution to work ahead and build a following leading up to the opening and after through social media campaigns. I definitely read through my last Venture Concept as well on my own and refined my ideas in terms of why my business idea is unique and a draw to a potential market. I additionally adjusted my market after I decided to incorporate service central and targeted to men on my service menu in order to hopeful expand my client target market and in turn drive more profit.