Taylor’d Skin
Minneapolis/St. Paul metro area beauty schools do not provide training in ethnic beauty services. Further, most beauty products are developed for white customers. As a Black woman-owned business, Taylor’d Skin seeks to address both of these on behalf of people of all ethnicities. An established, single location esthetician day spa, Taylor’d Skin aspires to grow into a premier, nationally recognized beauty school that will educate students on serving all skin types and hair textures. In addition, Taylor’d Skin will offer its own branded ethnic beauty products. Finally, with the school being located in North Minneapolis, it will provide North Minneapolis residents access to training in skills that lead to livable wage jobs.
The primary purpose of this PRI is to promote the social welfare by bringing economic development to North Minneapolis through additional jobs, while educating residents of North Minneapolis in skills that lead to earning a livable wage. Venn’s PRI provides Taylor’d Skin with funds to support its transition to an esthetician school, laying the foundation for later transition into a beauty school providing certification programs across all beauty services.
Recipient Name: Taylor’d Skin & Co. Esthetics Bar LLC (Taylor’d Skin)
Corporate Form: Minnesota Limited Liability Company
Entrepreneurs: Nubiah Taylor, Founder and CEO
Investment Sought: $100,000-$200,000
Amount Raised to Date: $158,000
Overview of Investment Terms:
7-Year Unsecured Loan
Accrues Simple Interest at 3% Annually
Payment Terms
Year 1: Simple interest accrues, but no payment
Year 2: Annual, interest-only payment for simple interest accrued in Years 1 and 2
Year 3: Annual, interest plus 10% of the principal invested
Year 4: Annual, interest plus 15% of the principal invested
Years 5-7: Annual, interest plus 25% of the principal invested