Vancouver’s Bombay Brow Bar small business entrepreneurs, Ravy Meroke and Amy Minhas, have capitalized on the one service business model providing one affordable luxury service, eyebrow aesthetics, with a low enough price point. This value driven micro beauty bar minimizes the most challenging aspect of starting a business: time management and financing.
Businesses offering multiple services require additional specialized employees, increased start up and variable costs. The one service model capitalizes on minimal start up and lease costs. Retail space has been limited to 250-650 square feet based on the lease model to ensure adequate return on the investment. The one service model can benefit from the rising retail rent costs and lack of space in the downtown core. Commercial leasing agents would be well-advised to consider the success and growth of one-service micro-retail, as dividing up larger hard to lease retail spaces into smaller micro spaces for single personal services will provide leasing solutions.
Bombay Brow Bar is positioning itself distinctively in the highly competitive beauty market. Providing a single service captures a unique niche target audience.This may illustrate disruptive innovation and lead to a transformation of the beauty industry. Their goal is to become “the next leading global beauty concept” and with 3 premier locations, including a high-end downtown hotel, they are on their way. This one service business innovation has taken hold and is here to stay.
Works cited:
http://smallbusinessbc.ca/around-bc/meet-ravy-minhas-mehroke-and-amy-minhas-bombay-brow-bar