Many people want their nails to look beautiful and better than they can make them look at home. A nail salon provides manicures, pedicures and other nail treatments to make customers’ nails look great. Customers may come to have their nails done on a regular basis or for a special occasion.
Learn how to start your own Nail Salon and whether it is the right fit for you.
Plan your Business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
What are the startup and ongoing costs?
Who is your target market?
How long it will take you to break even?
What will you name your business?
What are the costs involved in opening a nail salon?
Most nail salons are at least 1,000 square feet, and building out a salon typically costs between $75 and $125 per square foot. This comes to a total build-out cost of $75,000 to $125,000 for a 1,000-square-foot salon.
Business owners who are looking to reduce the startup costs for a nail salon may be able to purchase used equipment from a previous salon owner, or even lease space that has previously housed a salon. Finding a location where a salon closed will greatly reduce buildout costs.
Alternatively, business owners might be able to find a location where a property owner will build to suit. In build-to-suit agreements, property owners usually build a facility to the tenant’s specifications, and the tenants agree to a lease.
What are the ongoing expenses for a nail salon?
The ongoing expenses for a nail salon business include supply costs, employee’s wages (whether salaries or commissions), taxes, rent, maintenance on equipment and insurance. Supply costs are usually between 2 and 8 percent of sales.
Who is the target market?
A nail salon business’ ideal customer is someone who cares about their appearance, appreciates fashion and has some discretionary income. Such a person is likely able and willing to spend money to make their nails look good. Most salons’ customers are primarily women, but salons also serve men.
How does a nail salon make money?
A nail salon makes money by charging customers for manicures, pedicures and similar treatments. Some also sell premium nail care products.
How much can you charge customers?
Nail salon businesses offer a number of different nail services. Manicures typically range between $15 and $25, and pedicures are usually between $25 and $45. Other major treatments include:
Full gel sets ($45 to $75)
Full acrylic sets ($30 to $60)
Silk nails ($10 to $15)
Fillers, polishes and repairs are needed between full sets. These kinds of services range from $3 (for some repairs) to $30 (for gel polishes).
How much profit can a nail salon make?
A single nail salon business might bring the owner between $40,000 and $75,000 each year. The business model is easily scalable, though. Some nail salon owners have lots of locations and are millionaires.
How can you make your business more profitable?
A nail salon business can increase its revenue by upselling customers with additional services and selling premium nail care products. Since salons already use high-end products, it’s easy to sell these to customers who want to take better care of their nails at home.