High-Growth Beauty Bar Solicits $3M to Expand Franchise

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20 Lounge Nail Bar & Boutique Seeks "Friendly Money" to Reach Goal of 45 Locations by 2013

20 Lounge Nail Bar & Boutique Logo
“After self-funding the first two stores and proving that the 20 Lounge business model works, we want to increase the speed of growth by raising funds to open more corporate stores as quickly as possible,” said Griggs.

20 Lounge, a multi-service nail bar with a “luxury meets affordability” twist, will solicit potential investors next week in an effort to raise $2.5 - $3 million in funding to speed up growth of the young brand. This is the first time the company has approached outside investors.

20 Lounge CEO Valerie Griggs says that ideal investors will see the potential explosive growth in this newly minted category – where entertainment meets essential beauty services.

With three locations already open, two of which are corporately owned and one that is franchised, 20 Lounge has seen great success and operating profitability in its nearly two years of operation.

The hip, neighborhood getaway that is unique to the brand is shaped by the lounge-style environment with trendy music picks and a wine and champagne bar. This represents an additional revenue opportunity for the chain and provides a way to shift from the standard female-focused model into a comfortable experience for both genders.

“After self-funding the first two stores and proving that the 20 Lounge business model works, we want to increase the speed of growth by raising funds to open more corporate stores as quickly as possible,” said Griggs. “The funds we raise during this first round will be used to open three or four additional corporate-owned stores, to build out the management team and to launch and support the franchise sales.”

20 Lounge offers innovative nail services, professional waxing and face treatments featuring the Dermalogica brand and its MicroZone menu. Another key offering is a fashion-forward retail boutique, modeled after the uber-successful retailer, Fred Segal. Customers can choose to become a part of Club 20, a loyalty program designed to reward heavy users with even deeper discounts and VIP treatment.

“The 20 Lounge concept is thriving because it fills the gap between the high-end resort spa experiences and prices, and the low-end, discount nail salons that usually have unpredictable service and unclean environments,” said Griggs. “We deliver affordable luxury – our customers can be pampered on a regular basis, in a trendy, clean salon with impeccable service and still live within their means.”

Currently, the brand operates three locations – one in Cardiff by the Sea, Calif., and two others in Scottsdale, Ariz. Griggs says that 20 Lounge will launch franchise sales by the end of Q4 2011 and hopes to have 35-45 locations open by late 2013 or early 2014.

About 20 Lounge Nail Bar & Boutique
20 Lounge is a multi-service nail bar with an upscale luxurious twist at an affordable price. Based on the simple premise of convenience and affordable luxury, Club 20 members and customers can experience innovative nail services, professional waxing and face treatments featuring the Dermalogica brand and its MicroZone menu. Another key offering is a fashion-forward retail boutique, modeled after the uber-successful retailer, Fred Segal. Customers can choose to become a part of Club 20, a loyalty program designed to reward heavy users with discount pricing and VIP treatment. http://www.20lounge.com or call 480-250-4315.

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Melissa DiGianfilippo
Serendipit Consulting
480-250-4315
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