Starting your nail salon is just like starting any other business. You need a retail location, the right amount of capital, the proper equipment, trained employees, a large inventory, permits, and customers. Building any business from the ground up is hard work, but nail salons are especially tricky because of the niche industry. The industry itself is expected to reach $58.7 billion by 2019, so there’s never been a better time to take on the venture. However, to create a successful salon, you have to do it right. Here are some tips and tricks for opening up your very own nail salon.
Have A Plan
It’s not enough to just set your goal as “make a profit.” If you’re going into business, you should create a business plan. It would include an executive summary, description of the company, a market analysis, the organization and management, its services and products, the marketing and sales strategy, how the business is going to be funded, and the future of the finances. The business plan serves as a guideline to running the company and can be presented to investors if the chance ever presents itself.
Snag A Great Location
Normally, salons aren’t free-standing, meaning a good location for them is in a strip mall where there’s a ton of traffic. Checking out the local competition is also a must. You don’t want to move in right down the street from a salon that’s been there for 20 years and is soaking up the market surrounding it.
Having the top-of-the-line equipment for a brand new opening is going to be vital to gaining new customers, while you may have to take out a loan for the niche market equipment, getting quality pedicure chairs, or cleaning equipment. Additionally, it is equally as important to have proper Insurance policies to protect your salon business. After all, you are already investing so much into the new business you want to make sure your investment is covered.
Atmosphere plays a significant role in gaining and retaining clients. Getting your nails done is a luxury experience, and people want to spend their money at a place where they feel they can relax and get their money’s worth. J&A USA also sells products like countertops, technician stools, and customer chairs. Your new salon should look new and fresh and fit in with the target market. The environment needs to resonate with the client to make them feel comfortable.
Hire The Right People
Like any other business, it’s essential to hire experienced and professional employees. You might want to hire technicians with 1-2 years of experience; that way, you can teach them techniques that you’d like them to use. Technicians that have been in the business too long might be stuck in their corporate ways, making it harder for you to train them.
It’s not enough to place a “Grand Opening” sign outside your new salon. You should advertise through mediums like the newspaper, local magazines, and coupons at local events. Depending upon the location, you’ll be advertising differently.
Keep Up With The Business Side
It’s essential not to get too carried away with the creative aspects of opening and maintaining the new nail salon. While it should be an ever-changing and fun environment, the finances areas, if not more important. Keeping up with rent, employee salary, insurance, etc., is an integral part of keeping the business afloat.
Building a nail salon from the ground up is extremely doable, as long as you have a plan. Once you get the business portion of the venture taken care of, it’s time to get to the fun part of designing the salon. J&A USA can help you create the salon of your dreams.