Starting your own nail salon can be a risky venture, especially if you’re not equipped to handle the business side of things. You may know how to provide excellent customer service and leave your clients pleased with their new nails, but are you doing all the “under the hood” things you need to do in order to remain competitive with other salons?
Starting own Nail Salon? Know the tips!
Owning your own business can be a lot of fun, but in order to maintain that excitement, you need to put in the work and the cash. As an owner, you need to be there to set up in the morning and probably close up at night. Previous work in someone else’s nail salon could prove to be a valuable experience in how to run the shop on a day-to-day basis. There were probably a ton of things done behind closed doors that you’ll need to learn in order to successfully run your own salon. Here are some of the top priorities you need to pay attention to when becoming an owner.
Hiring good technicians
If the foundation of the service you’re offering is nails, you have to make sure your technicians are going to give the customer exactly what they’re expecting. You should integrate employee policies, financial agreements, and contracts. There should be a training period for new employees as they learn how your salon operates. Performance reviews should be done on a timeline in order to make sure the hired technicians are still performing at their peak. It’s important to hone in on safety and health codes with your technicians. Trust is an important factor between owner and employees.
Understand the financials
There is going to be a lot more cash flow than just from the customer into your cash register. You’re going to need to set up payroll, a payment system, invoices and receipts, sales projections, and of course source funding for the initial stages of your startup nail salon. If you don’t know anything about POS systems or how to pay invoices, you might want to hire someone part-time or enlist the help of a friend or family member that’s more equipped to handle the money side of the operation. It’s also important to note that your POS software can do a lot of work for you; such as inventory management, time tracking, and much more.
Set a budget, but don’t skimp
There are going to be substantial costs to consider when first opening your nail salon:
- Liability insurance
- Payroll expenses
- Operation fees
- Supplies and equipment
You’ll find the most wiggle room in supplies and equipment and advertising and marketing. This is important because these are the spots where owners tend to cheap out, hurting their business in the long run. People come back to salons not only for the great service but also for the environment. For example, having JA USA’s pedicure chairs in your nail salon will bode well for your clients. Sleek design and added features like a built-in massage, will go a long way when it comes to client retention. You also want to set a budget for advertising and marketing… and use it! Cater to the local community by offering discounted prices or a system for referrals. These will only work if you can keep clients coming through the door with your impressive equipment.
Consider selling products in your salon
First, you need to decide how you’re going to price your services:
- Gel polish
- Gel removal
- Gel nail repairs
- Mani/Pedi combos
- Gel powder fills
Once you decide on the specific services you’re going to offer and just how much you’re going to charge for them, you should consider selling the products you use to your clients. Some hair salons sell their hair care products on a shelf when you walk in the door. It’s rarer to see that in a nail salon. If your products are good and you’re confident that your customers will like them, it can be an extra source of revenue.
Once you have a solid business plan together, you can get into the details of what’s going to make your nail salon successful. Consider all these factors before you jump into a venture that might not be suited for you.