Starting your nail salon: what you need to know
The Chamber of Commerce has already indicated: the number of starting freelancers with their nail studio is increasing rapidly. That is not illogical because such nail salons are also simply unusually popular. The big advantage is that those who start such a nail studio know where they stand. Usually, they have undergone thorough training or have been practicing for several years. Promoting as a nail technician proves to be difficult, at least for those who do not have the right network. Many then seek refuge in their nail salon, often resulting from their entrepreneurial instinct, which was already ingrained in kind.
Do you also want to start your nail salon? In the discussion below, we'll ask you some pressing questions and help you think about your future brainchild.
Are you starting a nail salon: a good idea?
Whether or not starting your nail salon is a good idea, we can, of course, not just tell you. Some signs may or may not indicate success.
In the first place, your personal qualities will play a role. No one may have been born as an entrepreneur, but we do have those qualities. You must have such an instinct if you want to start your nail salon. Feel free to take a personality test or talk about it with others. That way, you can learn a lot about yourself. And don't worry too much: you will know the majority along the way.
A diploma is not a requirement: you can start a nail salon without a certificate. Basic knowledge of business management is, of course, still required. Ask yourself whether starting a nail salon without a diploma is such a good idea. Perhaps you wouldn't take a practical course to master all the skills? If you already have years of experience in a nail salon, starting a nail salon without a diploma will not be a big problem.
You also have to ask yourself whether your environment is also suitable for entrepreneurship. Can you miss that financial insecurity like cold porridge? Starting a nail salon will probably cause more stress than pleasure.
Is the moment not yet ripe? Procrastination is not a cancellation: perhaps consider taking the step within a few years. Or see it the other way around and interpret your situation as a challenge to work out your capacities, which may be extra motivating.' Every disadvantage has its advantage ', to put it.
Part-time or full-time?
Starting your nail salon is one thing, finding an ideal balance between work and private life is often a lot more difficult. Starting a nail salon is, in practice, a handy method to find that balance very easily. We often hear it from young women who start their nail salon: "I finally have time for my family again".
Of course, that will not have to be a guarantee for a long time. You will, therefore, be faced with the choice of whether or not to work full-time. Do you opt for part-time entrepreneurship? Then you must, of course, achieve sufficient income. Fortunately, some tax aids can assist you in that case, namely the KOR and the tax benefit in accordance with the hour's criterion. In the first case, you may have to pay less or no VAT. In the second case, you may be able to apply the self-employed deduction pro-rata.
On the other hand, we see that many start a nail salon to work full-time with it. What is full time? There is no official limit for this, so these stylists usually work according to the number of bookings and their working week. Is it getting too busy? Then you can consider using on staff or certain outsourcing tasks. That way, you can still maintain a healthy balance with your private life.
Which company form do I go for?
When it comes to starting your nail salon, that is often not self-evident. Initially, we see that many self-employed people start a nail salon. Yet that does not have to be the only option. Starting your nail salon under a franchising agreement, for example, can be a lot easier.
Starting your nail salon under a franchising agreement has the main advantage of running an independent shop under a larger umbrella. You can then use that brand name, their products, their logistics chain, and live on their marketing efforts. In return, you do of course pay a fee, but it has a huge advantage: it is much easier to gain the trust of a wide target audience and build on the larger chain's brand awareness. With such a franchising service, you can usually just start a nail salon without a diploma, but basic business management knowledge will still be necessary.
Working on location or your building?
Starting a nail salon at home is a cheap alternative for starters with a small budget. The big advantage is that you don't have to invest in a treatment room. But starting a nail salon at home also brings a great advantage for the customer: the customer does not have to move and, of course, appreciates such services very much.
Starting a nail salon at home also has to contend with disadvantages: you have to constantly redesign your workspace, and you still have to meet all kinds of requirements in terms of safety and hygiene. We also note, for example, that starting a nail salon at home is sometimes financially underestimated: usually, materials are chosen that are easy to move and can also be easily set up and taken down. Such materials are generally a lot more expensive. Your entire administration will have to be mobile, and that will also require additional investments. So starting a nail salon at home is certainly not just a good news show.
Would you rather not start a nail salon at home? Then, of course, you have to conquer a building yourself. Beginning a physical nail salon requires its design and compliance with all kinds of permit requirements. The difficulty with this arrangement is very often the wide choice of equipment and materials. In general, the CE mark can provide the necessary distinction, but it will still depend to a large extent on your own experiences. You will know best which products are best suited for your activities. You will be able to judge price and quality like no other. Another advantage for those who start a physical nail salon is selling a brand and expanding. This makes it easier for those who start a physical nail salon to recruit staff and grow further. The biggest disadvantage is the cost: usually, a good business plan and an investment credit will have to offer relief.
Those who start their nail salon at home sometimes switch to a physical studio in the long run. Of course, one need not rule out the other. For example, a few visiting hours can be scheduled every week for older or less mobile customers. Either way: the choice is entirely yours. Think about it carefully, because every way of working has its own advantages and disadvantages.
Clarity? Then start on your business plan
As said before, you can indeed start your nail salon without a diploma. Basic knowledge of business management is imperative, however. A solid nail salon business plan will also be indispensable in practice, such as obtaining a loan from your credit institution. You start your nail salon with knowledge of the facts.
Budget income
You will have to estimate your income before you even start. The advantage of nail stylists is that they often have it much easier in this area. Many that create their nail salon typically have several years of history. They know the costs and the average profit margins. In addition, they can also better estimate their target audience, as well as the average price someone spends for, for example, gel nails or nail enhancement.
Of course, it remains to estimate the market share that you will achieve in your region. For this, you will have to look at various factors, where, for example, the presence or absence of local competitors will play an important role. Also, look further than that: you can buy a lot of products almost everywhere and more and more young people are getting started with them themselves. You are convincing that a group of your added value will require the necessary portion of perseverance.
Take costs into account
Income is not everything: you will also have to estimate the costs in function of the break-even analysis. The size thereof: based on the preferences you declared earlier. Also, don't forget that you have to take other, more general costs into account. We are thinking, for example, of the costs for the accountant, energy, telephone, and postage costs, ...
In short: translate your biggest plans and choices into rock-solid figures and investigate whether your project has a chance of success? Doesn't it seem feasible? Then you will have to adjust your plan anyway. Good luck!