Women running their own businesses. In our monthly series, Small Business Spotlight, we talk to independent fashion entrepreneurs about their journey to becoming the boss. Here are some tips from women who have actually started their own businesses, including fundraising, marketing strategies, and using social media.

When Maghan Morin started her new business, Melanate Beauty Spa, in May 2021, she felt she had nothing to lose. Ironically, it was a workspace dedicated to helping women of color fund their small business ideas. So she decided to forge ahead with a new endeavor, one that had its roots in her own past.

Morin's father was an entrepreneur, and she had been one herself since college. She recalls, "I was on the computer and found a business plan for a beauty spa I had written [in college]." I've always loved beauty. So I thought, what do I have to lose? So I figured I had nothing more to lose." She raised the initial funds from her personal account and got to work.

The result was a mid-range, upscale day spa created specifically with women of color in mind. Melanated Beauty Spa, South Florida's first 2000 square foot black-owned day spa, offers a variety of services and is already on its way to expansion. Bank of America has helped her with checks, merchant processing, and access to payroll services. Until Bank of America, I never had a banker or someone within the bank come to me and say, "This is how we can help you." What is your current problem? That's very empowering and encourages me to keep moving forward," she says.

Morin firmly believes that her community needs more from the beauty arena and wants black women and women of color to see themselves as a priority. She says, "We need more luxurious spaces created by us, for us. It's deeper than just creating a day spa, it's all about inclusivity for people who are often overlooked," she said in a May 2021 Instagram post. I am ready and willing to change the narrative that is being repeated."

From day one, the spa was paid for with her own money, and she admits that she vastly underestimated construction costs and other upfront expenditures. She had a strong vision, but finding the right people was more difficult than expected. She did not have the funds to hire a full-time staff, so she decided to keep the spa open by appointment only. She has tried different revenue streams, including shipping beauty boxes across the country. Not all were successful, she says, and the beauty boxes became a long-term goal. But she has made great progress.

From the beginning, Morin was obsessed with the name and focus of the spa. Historically, there has been a lack of diversity in the beauty field, so Morin has focused on including people of color in all aspects of the business, including the marketing image. She aims to make potential clients feel seen and included in ways they have never experienced before.

"People's reactions have been beyond what I expected. A woman came into the store recently, and the first words out of her mouth were, 'Wow, this name is ballsy. ' Honestly, it made me feel good. When people see you expressing yourself, they feel like it's for them," Morin says.

"I'm hoping that more and more minorities will see themselves as the recipients of services, not always the providers of services."

Currently, services range from facials to massages, eyelashes, and body services. All are inclusive of people with darker skin and are aware of their specific needs. The estheticians are also women of color, who create customized face masks for their clients and use only the best products for their skin (the spa caters to all skin types, but is especially familiar with Fitzpatrick skin types 4 (light brown) to 6 (dark brown and black)).

On the company's social media, the spa's experts describe treatments such as moisturizing facials and their specific effects on the skin. They recommend specific products they have tested, educate about common skin issues, and explain which ingredients are most effective and why.

Clients who sign up for Melanated Membership get access to two 30-minute power facials each month, 15% off additional charges for each facial, and deals on waxing, massage, and body contouring treatments, including 10% off additional charges and products In addition, the company offers free monthly events for members focused on one of four areas: networking, education, experience, and wellness. The first Sunday of each month is the Self Love Yoga Event, the last Wednesday of each month is Waffle Wednesday, and there will be two events in April. Wellness and inclusion are involved in all aspects of the experience, not just beauty services.

Melanated Beauty Spa has been by appointment only, but will accept walk-ins beginning April 18. The spa is looking to grow and expand its services. Primarily, they will franchise in various cities, and if Morin is willing, they may open in high-end hotels and cruise lines. In the future, the company hopes to sell branded merchandise and products. And judging from the thousands of followers this business already has on Instagram, people are excited.

Morin has been banking with another financial institution since he was 15 years old, but did not feel he had a productive relationship with that institution. She says, "You're putting a lot of money in the bank, and you want to feel like it's a beneficial relationship."

However, six months after the spa opened, Widline Nolde, vice president and relationship manager at Bank of America, found Morin on LinkedIn and contacted her to discuss Morin's business goals. She said, "When I learned that she and I share the same traditions and background, Michael Medina [a small business banker at Bank of America] and I wanted to help her as if we were neighbors. We want to see her succeed," Nolde says. [Morin adds, "They showed us everything they could do for small business owners. It was a weight off my shoulders."

Medina suggested different options to help her business. Morin now has a business checking account and plans to enroll in a merchant processing service to more efficiently process credit card transactions. Medina also helped her access payroll services and introduced her to Better Money Habits, which offers free business tips and tools. She emphasized that she is a minority business owner because she "felt like she was at a disadvantage.

Medina also introduced Morin to a local women business owners group, and Norde helped her submit an application for a partnership with Cornell University to provide assistance to women entrepreneurs to expand their businesses and acquire the financial knowledge they need. Morin meets with her banker several times a month. In the long run, the banker helps her access the capital she needs. Medina says. ''Once she steps into the franchise, (we are) ready to help with the business credit piece so that she can continue to move forward.'' "

Bank of America is celebrating Small Business Month in May with other stories of how small business owners have adapted to keep their businesses moving forward in times of change.

For more small business inspiration, client spotlights, and helpful resources, seehttps://promotions.bankofamerica.com/smallbusiness/sbmonth .