NAIL SALON BUSINESS PLAN GUIDE
Are you presently a nail stylist working at a nail salon and you are thinking of starting a nail salon of your own?
Do you have skills in manicure and pedicure or you have a hand full of experience working as a nail artist?
Starting your nail salon won’t be a bad idea for you if you know more about the business in general!
Running a nail salon of your own is not just a financially rewarding business, but making people’s nails look beautiful is incredibly fun as well. One good thing about starting a nail salon is that the capital needed is not huge and you can start small.
You can even start from your home and save towards getting an office for expansion. In this post, I will be sharing everything you need to start a nail salon business.
Here is a sample business plan for starting a nail salon.
- GET A NAIL SALON BUSINESS PLAN
Before setting up a nail salon, you ought to have an eligible plan at hand and heart. This is very crucial for your success. It is the business plan that will help you in your business approach. This will enable the chances of your business being successful.
- BE PREPARED FINANCIALLY
You should know that it takes money to run a business successfully. Consider both startup costs like incorporation fees, rent, equipment, and ongoing costs like salaries, marketing expenses, and loan payments.
If you don’t have enough cash to start your nail salon, you can go take a loan from any microfinance bank or kindly borrow from family members and friends who are willing to help and spend the money wisely so nobody gets to trouble you about their money.
- CHOOSE A LOCATION & NAME YOUR BUSINESS
Another step to take and know is where you intend to site your nail salon business and what name you want to give to your business. When choosing a location for your business, accessibility to people should be your priority.
You should also consider a suitable name that will be attractive and appealing to people, use a name that is not in existence i.e. a name that has not been used by any other business enterprise.
- ADVERTISE YOUR NAIL SALON BUSINESS
With your experience working at your boss’s nail salon, you must have learned the way and manner your boss market his or her salon.
The nail salon business is certainly filled with competition but it is how you promote your brand that will make customers flood your salon. You can take leverage of the internet and promote your business using different social media platforms like Facebook, Instagram, and Pinterest.
Tell friends and family members about your work, the printing of fliers if u can afford it.
- EMPLOY GOOD STAFF
As your business grows, you will need more competent hands to help you attend to customers. To some extent, your employees will determine how well your business will run, that’s why you should hire reliable and experienced staff with lots of skills to run your shop properly and reward them very well because they are the people that deal with the customers.
- MAKE YOUR SHOP ATTRACTIVE AND COMFORTABLE FOR CUSTOMERS
Nobody wants to associate themselves with dirtiness. The environment of a salon is the very first thing consumers notice when they come in. It must be attractive, comfortable, and inviting.
From your experience, you must have known that nail salons work with strong scented chemicals, so you must make sure your salon smells good. You should have a good ventilation system so that the air circulation is intact.
- BE FRIENDLY WITH YOUR CUSTOMERS AND STAFF
The way you package and run your business different from your competitors, will to a large extent determine your success. Have an approachable receptionist that checks-in your visitors and walks them through your services and menus.
It is extremely unethical if your nail artist working on a customer’s nail has to get up whenever a new customer comes in or answers the phone every time it rings.
Also, ask your workers to be friendly and professional when with clients. Note that talking to your staff in the presence of your customers in a different language is not friendly or professional. It is impolite to your customers.
- KEEP TO YOUR WORDS WITH YOUR CUSTOMERS
Lastly on how to start a nail salon and become successful is to always keep to your words with customers. Never promise what you cannot deliver. Your reputation is important.
Work on creating long-lasting contacts and regularly build trust with your clients. Treat everyone nicely. Always fulfill the promotions and specials you have promised to your clients
In conclusion, don’t forget to always stay updated with your products. People love trying new products and trendy nail styles.
NAIL SALON BUSINESS PLAN EXAMPLE
With a growing business potential in the nail salon sector of the beauty care industry and with growing interests shown by entrepreneurs for investment in this business, it is only logical that a good business plan sample should be made available to those without knowledge on how to write one.
This article will be following a series of guidelines and requirements. All the entrepreneurs need do is to simply follow these guidelines while brainstorming on the unique requirements of his/her business.
It is believed that in the end, the entrepreneur will have produced a sound and effective spa business plan unique to him/her.
– Executive Summary
– Products and Services
– Our Vision
– Our Mission
– Target Market
– Payment Channels
– Publicity and Advert Strategy
– Competitive Advantage
– Market Analysis/Trends
– Source of Revenue/Projection
– Startup Funding
With the increasing demand for quality and innovative nail salon services, Nadine’s Nail Salon is set to meet these demands and even surpass them through the provision of innovative and highly professional nail services in the gel wrap, manicures, pedicures, and also providing additional spa services to our clients.
With our first outlet located in Jacksonville, Florida, we have ambitions of expanding our services to cover the whole of Florida within our first 5 years of operations. As a means of attracting patronage, we will be providing monthly discounts to our clients.
Products and Services
The products and services to be offered at Nadine’s Nail Salon include pedicures, manicures, and other assorted and very attractive nail care. Among these are a rich collection of colors and designs to fit with our client’s skin types and their dressing.
Also, there will be spa treatments and also the sale of waxes which are in high demand around the United States.
The services rendered are all tailored to meet customer needs and satisfaction.
Our vision at Nadine’s Nail Salon is the provision of world-class pedicure and manicure services using a well-motivated and highly professional workforce to realize this. The client is at the center of our vision, as all our services are tailored around client satisfaction.
We will be building our services around the client because we realize that a satisfied client is a loyal client that will bring in others.
At Nadine’s, we will ensure that every client leaving our outlets is fully satisfied and our doors will be open to receive complaints and treat them with utmost dispatch to win client patronage and trust.
Our target market will cover adolescents, teenagers, and adults. Although a mainly female-dominated industry, we will be providing manicure and pedicure services to males. Among the profile of our target clients will be special packages for tourists, provision of our services to school seniors for all upcoming special events within their calendar such as dance competitions, etc.
Also, our target clients will include professional women, housewives, and celebrities.
We will have an array of payment options provided solely for ease of payment of services by our clients. These options are to lift the burdens off the shoulders of our esteemed clients who might have difficulties having to pay for services due to the possession of a single payment option.
Among these payment options is the acceptance of cheques, mobile money transfers, POS payment options, cash payments among other assorted payment channels.
Publicity and Advert Strategy
Because we realize the importance of publicity to business growth, we will be taking full advantage of this through the use of local TV and radio stations to disseminate our services to the population.
Also, we will be taking advantage of the internet through the building of a website that will contain all the services being rendered at Nadine’s with ease of navigation. Paid adverts will be placed on social media platforms such as Facebook, Twitter, and Instagram with very attractive samples of our services on display.
Word of mouth marketing will be strongly utilized through the encouragement of our satisfied clients to spread the word to their friends, families, and acquaintances.
Due to the stiff competition in the nail salon business world, we will be providing innovative services to set us apart from our competition. These nail care services and designs will come at very pocket-friendly charges to our clients.
Also, we will be hiring the services of a marketing strategist that will be coordinating our business innovations. To add to that, all our workforce at Nadine’s Nail Salon will be highly motivated through attractive remuneration packages to win their total commitment.
The nail salon industry has constantly witnessed changing innovations, with customer appetite on the rise and the need to meet the desires of the clients and even surpass them also being pursued.
With this increasing potential in the industry, the nail salon business has had to either innovate and follow the competition or run out of business due to unsatisfactory services leading to clients being lost to rival nail salons.
One important aspect of the nail salon business has been word of mouth marketing. Clients are more likely to patronize a nail salon because their friends told them such salons were ok.
Sources of Revenue/Projection
Our main source of revenue will be through the nail salon services we render. Also, revenues will be generated from the spa body treatment services on offer by Nadine’s. Within our first 3 years of operations, we will be having a projected income shown below;
– First Year $150,000
– Second Year $250,000
– Third Year $550,000
Funding for this nail salon business will come solely from two sources; these include savings made solely for this purpose, and the use of debt financing. The savings will cover 30% of total funding, while a loan facility will be sourced from a reputable bank.
This is a sample nail salon business plan, with key areas highlighting the different aspects of the business and procedures involved. Apart from acting as a guide, this plan would also ensure that the business can get critical funding through loan applications for which this is a prerequisite.