The industry of beauty & glamor has always got its share of popularity & relevance since ancient times especially when it is related to women. Nowadays, people want even their nails to look beautiful like face & hair.
If you are the one who wants to open a nail salon business then suit up with a Picktime Nail Salon Business Management Software.
A nail salon provides its customers with a wide range of services such as manicures, pedicures & other different types of nail-oriented treatments to make them look great.
Customers can have their nails done daily or on special occasions like attending parties. You can schedule appointments for the customers with nail salon business management software.
Now, let’s learn some nail salon management tips and create a niche for your business.
Let’s start with a market overview & trends:-
Opening any business for a first-timer is incomplete without doing proper market research. The entire marketing strategy depends on it.
So lets us figure out the trends related to the nail salon business with its overview:-
Now, there is good news for all those people who want to try their hands at the nail salon business:-
- The global nail care & services industry will grow at a rate of 4.5% from 2019 to 2024 & will reach $1.2 billion.
- The nail salon owners will make around $40-70,000 per year.
- The yearly income of a salon technician in the USA is $25,770.
So, now let’s see what market trends have to say about it:
- According to this magazine, the latest trends are nail arts and intricate design.
- People are turning towards healthy, organic products.
- Mobile nail salons are trending because the shop turns prospective customers into instant ones.
Source:- Beauty Packaging Magazine.
Now, here comes the big question:
Who are your targeted customers?
Now once you have gone through the market overview & trends. The next big thing that you have to think about is none other than pinpointing your targeted market.
You won’t be able to craft your business model, services & locations without knowing about your targeted customers.
If your target market is women then you have to make a business plan, set up a location & services that will cater to female customers only.
Now when it comes to running a nail salon business, they target women located in nearby areas. Hence depending upon the budget of your salon, you target the market of your choice.
You can target the economy, midsection, or high-end markets to attract customers in large numbers.
You have to determine the market that is right for your salon to promote your business and cater your services to the clients.
Qualities & qualifications required for running a salon
There are some other things that you will need to run your salon & it is none other than skills, experience & education.
These are some essential ingredients that will ensure success for your small business. So let’s have a look:-
In all states in the United States including other parts of the globe, nail technicians must have cosmetology licenses.
To get such a license, individuals should have a high school diploma or GED.
Experience in cosmetology
You are also required to attend classes or schools on cosmetology for gaining experience.
It is recommended to join a nail salon as an intern to get experience in this field & learn about the inner workings of the nail salon business.
You should equip yourself for facing challenges as soon as you start running your salon.
Hence equip your brain with creativity & problem-solving skills to solve the crisis & challenges that will come your way.
For example, many high-end customers are known for throwing unnecessary tantrums on salon staff members.
You have to train yourself to handle such situations with ease to stay firm in this business.
You have to work on your communication skills while dealing with your clients, customers, and your staff members.
Building a healthy & friendly relationship with your staff will ensure that your customers will get a good service.
You should also work on your ability to have small conversations during appointments making the customer show up to your salon.
Keep an eye on trends
Keeping the customers happy at all times is the real secret of doing business for a long time.
Customers always want something new & exciting all the time hence always offer the latest products, services & nail trends to attract existing & new customers.
You have to keep on spotting & implementing new trends to make your nail salon business look attractive and it is the only way how you can keep your clients & customers interested & invested in your business.
Determining costs to run a nail salon
Now once you have all the required qualifications, skills, experiences, and a good grip on trends, the last and final thing that you have to determine is the cost of running the salon.
Running a nail salon business means arranging funds & handling expenses. You have to make a list of all the expenses involved in running a nail salon such as-
- Electricity expenses.
- Rent of the salon shop in the area it’s located.
- Cost of products & supplies to cater to services.
- Cost of furniture
- Cost of lighting equipment.
- The cost of making the exteriors & interiors of the salon.
- Cost of purchasing inventory for selling it to customers.
These are some of the expenses that you have to be well aware of and understand quite fast to run your salon business.
Working on steps to start a nail salon business
Now after determining the cost of starting the nail salon, you have to start working on a step by step plan to start your salon business:-
Step 1- Workout on an effective business plan
A well-crafted business plan will help any entrepreneur to achieve all his goals & objectives on time.
A business plan requires defining goals and convincing clients & banks who are the primary investors of your business.
Now, this is how you are going to make a wonderful business plan:-
- Breaking the plan into different sections & working on each section once at a time.
- Frame your business plan in such a way that investors will get ready to pump their money into your business.
- A well-structured business plan will convince investors why your nail salon business is going to succeed.
Step 2- Register your nail business legally
To legally organize your nail salon business, you have to choose from four primary business entities such as:-
- Sole proprietorship
- A limited liability company is also known as LLC.
Step 3- Naming your nail salon business
Naming your salon business might get tricky here because you have to take care of many things such as:-
- The name of your business should resonate with your customers.
- Avoiding copyright issues.
- Promoting your salon’s name on social media to make it a brand.
- Create a logo that will match up with the name.
Step 4- Pick a suitable location for your nail salon
When starting a nail salon business, it is important to pick a suitable location. The salon should be in an area that is easily accessible and has a lot of foot traffic. It is also important to consider the competition in the area. There may be other salons in the area, so it is important to find a niche that your salon can fill.
If you are planning to open your nail salon in a prime location in a big metropolitan city then the cost of acquiring the space will be expensive.
The heavy price might let you down but opening your shop in a prime location will help you get more traffic & visibility.
Hence, it will be much better for you to lease or rent the location for a fixed affordable price.
Step 5- Use an affordable nail salon business management software
Once you start running operations of your nail salon business, you will need an affordable Nail Salon Business Management Software that will cater to all your needs.
By the way, there are many salon management software available in the market but going with Picktime nail salon booking software will be your best bet.
Let’s go through the features of Picktime nail salon scheduling software & let’s know, why they are so special & desirable:-
- Users can register on Picktime for free.
- Booking appointments, classes & resources with the online calendar are easy with Picktime.
- Flexible & responsive booking system.
- You can add unlimited employees & services.
- Integrating Picktime with your Facebook page is very easy.
- It’s easy to embed a ‘book now button on your website with Picktime by following just some simple steps.
- Integrating apps with Picktime such as personal calendars, video meeting apps and different CRM software is very easy.
- By linking Google maps with Picktime you can allow your customers to book appointments from your business profile on it.
Step 6- Arrange funds to start your business
There are a few key things you will need to arrange before starting your nail salon business. The first is finding the necessary funds. It’s important to have a realistic idea of how much money you will need to get your business off the ground and then do everything you can to make that happen. You may need to take out a small business loan or find investors.
Another key task is setting up your business entity. This includes registering your business name, creating a corporate structure, and filing for any necessary permits or licenses. Once this is done, you will need to develop a marketing and advertising strategy to let potential customers know about your new salon. Finally, make sure you have all the necessary equipment and supplies in place so you can start providing services as soon as possible.
Most of the money that you will invest in starting your nail salon business will get spent on purchasing inventory & furniture. Hence you have to arrange money from different sources to run your business.
These sources are:-
- You can pledge your assets such as land or jewelry to secure a bank loan.
- You can approach banks with special schemes to apply for loans.
- Approach your federal government to avail yourself of loans under schemes that fund small businesses.
- You can approach online crowdfunding sites for financing your business.
Step 7- Hire & train professional employees
When starting a salon business, it is important to hire professional employees. A well-trained staff can help you provide high-quality services and products to your customers. They can also help you maintain a positive reputation for your salon.
To find qualified employees, start by advertising your job openings online or in local newspapers and magazines. You can also post flyers in local businesses or schools. When interviewing potential employees, be sure to ask them about their experience in the beauty industry and their training.
It is also important to provide ongoing training for your employees. This can include training on new products, services, and techniques. It can also include safety training and customer service training. By providing ongoing training, you can help ensure that your employees are always providing high-quality services to your customers.
Try hiring some professional & well-experienced employees who can run your nail salon shop with ease. You should train & groom them in the following ways-
- Make your staff greet & chat with customers as friends while providing service.
- Boost the morale of your staff by providing a good salary & perks.
- Chat with your staff members like a colleague.
- Make sure that your staff is not facing any issues.
- Create a friendly atmosphere inside your salon for both your staff & customers.
Starting a nail salon business is not an easy thing. You have to take care of many things that involve the success of your business.
Taking care of your customers is the most important thing. They are your greatest asset and without them, there is no business.
To make your customers visit your salon on daily basis, you should have strong Nail Salon Business Management Software.
Purchasing software such as Picktime is vital for your nail salon’s growth because you can save all your customer details & addresses with the help of a customer database embedded in the booking system.