Snapchat is the 4th most used social platform, used by 27% of U.S. adults. However, when it comes to teens and younger adults age 18-29, two-thirds are on Snapchat (68%). Sixty-three percent of Snapchatters use it at least once a day and half several times a day (49%).
Snapchat has a feature called geofencing that businesses can use to promote themselves. When people are in the defined geofenced space, usually the store or facility, they can send a Snapchat photo or video that also identifies where they are. The business creates the geofilter that overlays on the photo or video. Here's an example of one from Disneyland.
You can create your own geofilter or use one from the templates Snapchat has on their On-Demand Geofilters page, which is where you start whether or not you have created your own custom geofilter image. Then part of the process is to geofence your business.
The price depends on a number of factors including what type business it is, the size of the geofenced area and how long you want it to run.