Discover the Missing Link in a Niche Market
Angel Anderson is the CEO and co-founder of NailSnaps, which has changed the beauty supply industry with her one-of-a-kind custom design nail art. It is a platform that allows nail enthusiasts to transform their Instagram posts into wearable art in the form of salon-quality nail wraps. While shopping in the nail supply aisle of a drugstore, Angel had the inspiration of creating a line of nail art after spending time staring at the shelves filled with tacky nail art that didn’t represent her personal style, nor of many others she knew. With her career background including digital user experience, Angel gathered feedback from consumers about the lack of originality for nail art at an affordable price and less time-consuming application, which led to NailSnaps becoming a new solution for a gap in the beauty supply industry. The free mobile app transforms any live or stored photo on your mobile phone into a nail design, making it a creative, DIY, affordable activity for consumers in the market. The nail sets are $19, which is a much more affordable option than the salon experience. Angel’s business core impact is to change the face of beauty, as she states competitors to be prescriptive and repetitive when it comes to designs for each season.
Hire “A” Players on Your Team
NailSnaps was featured on Apple’s best new apps immediately after its launch, which proved that the market was in need of an innovative user experience such like this. With success came some challenges, including licensees who misrepresented themselves. Another obstacle was one of their printers holding the company down in a bad pricing contract that would prevent it from selling wholesale. Angel and her team were able to overcome this adversity by finding the right vendors to create more healthy working relationships for her business.
Angel decided to join the Spring 2017 Founders Business Growth Bootcamp because she was not gaining enough traction on her sales channel and wanted to implement a pipeline to attract more customers. Prior to the Founders Bootcamp, NailSnaps was selling directly to consumers, but Angel had the desire to increase revenue by selling as a unique solution through business to business channels. Angel learned that she could take advantage of certain Research and Development Tax Credits and how she could hire “A” players. Angel did not have any prior education regarding business or business management, but enjoys learning about different parts of business every day. With the guidance from top Subject Matter Experts of the Founders Bootcamp, NailSnaps was able to develop leadership with her product in a niche market and acquired an increase in revenue and major brand partnerships, including Nike, MTV, Turner Broadcasting, Corvette, Marc Jacobs, Adidas, and Metlife.
Plan For an Exit Strategy
In a couple of years, Angel envisions NailSnaps becoming a target acquisition to a large beauty brand or brick-and-mortar and is beginning to explore for the right partner. When asked to provide advice for other small business owners:
“Nature never rushes, yet everything is accomplished”
The journey for business growth is not a sprint, but rather a marathon. Be sure to connect with the right partners and team members just like Angel, and your business can achieve success similar to NailSnaps.