HOW TO START A NAIL SALON BUSINESS

Starting a nail salon is not all about knowing how to fix and polish nails. Though quite a lot of people can care for their hands and feet, even do an excellent job polishing nails, only a few are skilled in the art of nail care at a professional level. More so, it takes quite a lot to run a nail salon business.

This article is an essential read for anyone thinking of opening a Nail Salon.

Starting and successfully running a nail salon requires both nail care skills at a professional level and the skills needed to run a successful nail salon.

A typical medium-sized nail care salon would cost about N500,000 to N2,500,000 in startup costs. Such costs usually go into – Rent, Manicure stations, Pedicure chairs, Supply costs, Salaries, Maintenance on equipment, Licenses, and Registrations, and Utilities.

Typically, you would also want to start with some supply inventory. Such inventory costs are usually between 2 and 8 per cent of projected sales.

One of the most significant discoveries any aspiring entrepreneur can make is understanding what he/she is passionate about and how to generate income from such passion. And if pedicuring and manicuring people’s hands and feet drive you, then you should consider starting a nail salon.

If you are thinking about opening a nail salon as a business, you’ll need to outfit your salon with the right equipment.

Trust me; asides the right skills you want to get the best equipment and supplies possible because even with the right skills, if your supplies fall short in quality, so will your outcomes.

Starting a nail salon is not all about knowing how to fix and polish nails. Quite a lot of people can care for their hands and feet. Still, only a few can adequately care for someone else’s nails, apply the right nail polish, pick the right nail designs, give the best manicure and pedicure experience and successfully manage a nail salon. 

If you’ve resolved on taking the little manicure and pedicure you do for friends, family, and colleagues to the next level, then this article is for you.

Here’s How To Start a Nail Salon

1. Have a plan

Starting any business without a well-thought-out plan is like going to battle without a plan; the outcome of such a move is inevitable defeat. 

A good business plan is mostly the difference between a successful entrepreneur and a failing entrepreneur. The magic is not always in your expertise, but it’s in the time you spend on planning and strategizing. 

Planning entails asking the right questions, which unfolds many underlining factors you didn’t even know existed. 

When planning, consider the following questions:

• Cost of starting and running the business
• The number of stations
• Your menu of services
• Your business name 
• Your target customers
• How your salon will intend to make money 
• How your salon can breakthrough and stand out from every other salon
• What to charge for your services
• Your brand and value proposition

Suggested Read: Forecasting Revenue and Positioning a Company for Growth

The cost of starting and running a nail salon

The cost of renting and running a salon depends on the location, the size, your taste, and your pocket. In a commercial city like Lagos, for example, the average cost of renting a shop is around 300,000 Naira a year. You have to furnish and equip the salon with about 200,000 Naira. 

The running cost of the nail salon covers: 

• Electricity bill
• Staff salaries or commission 
• Repairs and maintenance 
• Tax and levies 
• Other operating costs 

Who Are Your Customers? 

Knowing your customers help you strategize better. Everyone with hands and feet can’t possibly be your customers, that’s why you have to know whom you’re targeting. Your customers are people that are fashion conscious and fancy taking care of their hands and feet. Although your primary clients are women, it doesn’t mean you won’t have male customers from time to time. 

How does a nail salon make money?

The reason we go into business is to generate income. Whether you operate from your garage or a rented shop, the result of not generating an adequate return on your investment is a failed business.

Though your salon can make you money from manicuring and pedicuring, a large proportion of your income will come from selling related products to customers. On average, pedicure costs N1,500 to N5,000, while manicure is from N2,000 to N8,000, And the return on investments on other ancillary products can go as high as 45 percent. Prices depend on the choices of the customers; with Home service, it’s more expensive than in-salon treatments. Still, it also depends on the client’s location.

How profitable is a nail salon? 

The profitability of any business is dependent on the plan and structure, skills, brand management, marketing strategy, and the location of the business outlet. 

All things being equal, a properly managed salon should make more than N150,000 a month. 

When Will Your Nail Salon Breakthrough? 

Your nail salon will breakthrough when you take conscious efforts towards its growth. When you invest in branding and social media marketing and when you treat your friends, family, and former colleagues like clients by not undercharging them. Your breakthrough will also be speedy when you inculcate the right spending and savings culture and learn to account for every income and expenditure done by the business. 

2. Pick A Business Name 

Picking a business name is more than how the name will appear on your billboard, fliers, and other print materials. A business name also depends on how it will look on the internet. In Nigeria, you should check the availability of your chosen name with the CAC and make sure that it has not taken by someone else. 

After checking with the CAC, you should also check that the URL is available online; such a check is possible using any of the many domain registrars available. 

Since your business is targeted at Nigerians, you should try and register a .ng, or .com.ng TLD name; just ensure that your chosen name appeals to customers online and offline. 

Suggested: How To Choose The Best Name For Your Business

3. Register Your Business 

After you have answered some crucial questions relating to the company, the next thing to consider is the legalization of your business. Your business needs to become a legal entity for people to take it seriously. To achieve this, you need to register your salon with the CAC, local government, and other authorities. 

Registering your business separates you from that business in case of any liability. A registered and licensed company is a business entity that customers are more likely to trust. Hire the help of an excellent lawyer to help you with the processes. 

4. Connect With The Industry 

Connecting with the industry is in two forms: Physical and virtual connection. You’re about to step into the real world of nail salon business, so you’ll be needing all the handouts(tips and lectures) you can get from experienced nail technicians. 

You can’t sail too far all on your own—no man is an island. Join trade associations to keep yourself updated with the latest trends in your industry. 

A practical way is to learn virtually from experts that share their experience through YouTube, Instagram, and the likes. Sometimes, people learn more from the groups on the internet than physically present groups. Learn to ask important questions and be open to learning. 

Don’t isolate yourself. 

5. Analyze Your Finances 

How financially successful your business will become depends on how your funds are analyzed. You need to be sure of what’s coming in and what is going into every sector of the business. 

You need to be financially alert if you want that business to scale economically. There are some fantastic and easy to use accounting and business productivity apps that can help you to be more accountable, financially, as a salon owner. 

6. Source Supplies 

When you’ve got the perfect space for your business, you certainly need to acquire some nail salon specific furniture like chairs, tables, shelves, and nail salon supplies like towelettes, sable brushes, reusable nail forms, cuticle oil, nail cleaner, toe separators, pedicure foot file, etc. 

You mustn’t necessarily get everything before starting, but you can get the rest with time. 

It’s a plus to choose and establish a relationship with suppliers that can deliver to the salon whenever you need them. 

7. Set up Administrative Processes 

You should not leave the day-to-day running of your business to chance. This is the time to look back at your initial business plans and organize your business to sync with your plans. Resolve on your payment processes, how appointments will be booked, operational procedures, duties, and responsibilities of your staff, and customer relations. 

Take advantage of technology by using business productivity apps to make running the business smoother. 

8. Hire Nail Technicians 

Hiring nail technicians depends on your customer base. You might take a little time to settle in before hiring nail technicians to assist you in the salon. But people, especially women, love going to nail salons with multiple technicians. Getting their nails done is always a special time to catch up with their friends whose nails are also being done. 

9. Promote Your Business 

You’ll be robbing your business if you give more attention to online marketing than you give to marketing your product locally. You have to know how to use both to your advantage. Since your business is situated in a central location, a beautifully designed billboard placed within the vicinity will be a good idea. 

You can advertise with your local radio station if you have the money, share fliers and give discounts to new customers. You can even partner with a popular hair salon close to you and build a customer base through their customers. 

Your social media accounts should be handled by someone who’s readily available to answer questions from visitors. Also, hire the services of .a good graphic designer to pop out those attention-grabbing designs for your social media campaigns. 

In whatever way you are promoting your business, do it right!

How will your salon stand out? 

Naturally, people are attracted to new things like salons, bars, relaxation centers, cinemas, etc., but what keeps them coming back is your expertise and customer relations. No matter your skill, if your customer isn’t comfortable in your salon, then your branding and marketing efforts have been defeated. Your brand isn’t what you say it is; it is what your customers tell people it is. 

You can visit other nail salons to note what they’re not doing right and improve on that aspect. 

Lastly, your team also has a lot to do with the success of your business. Make sure you employ nail technicians that are trendy, talented, and believe in your vision with you.