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The Nail and Skin Bar, Inc.
Summary
The Nail and Skin Bar, Inc. is a nail salon located at 3990 Park Avenue in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The business closed as non-essential in March. The owner and six independent contractors were unable to earn an income. Monthly liabilities have had to be paid from the applicant’s personal account.• Stabilization and Recovery Plan:
Business reopened May 24, 2020
• Creating a robust marketing plan to drive traffic to the business
• Plans to add later hours to draw a larger crowd
• Will establish a small retail component with polishes and skin care items
• Received a $5,000infusion from EIDL
NEED Grant proceeds will satisfy operating expenses and to purchase supplies.
Financing Amount:
$5,000
Projected Total Jobs:
Not applicable
Total Investment:
Not applicable