In 2018, Alexandra Breuer and Kimberly Marsh, co-founders of Ezza Nails (Ezza), were preparing to scale their manicure-focused start-up. Operating in a highly fragmented $14 billion nail salon industry, Ezza differentiated itself through a focused service offering, a tech-enabled customer experience, and an employment model aimed at empowering technicians. As they considered raising $1.5 million in growth capital, Breuer and Marsh faced a critical decision: should they add pedicures to increase capacity and revenue, or should they stay true to their manicures-only brand?
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