Starting a business can be challenging – but it doesn’t have to be! While there are many ways to run and operate a business, some methods are more efficient and will save you frustration and time in the long-term.
If you’ve been thinking about starting your own nail salon, you may be unsure of what strategies to keep in mind as business picks up and customer volume increases.
But don’t worry – here are 10 tips we think will help. Follow these closely, and your nail salon will run as smoothly as your finest coat of nail polish.
Have A Distinctive Vision
Although the nail salon industry can be exceptionally profitable – to the tune of 8.51 billion dollars in 2015 – competition can be fierce. In order to stand out and cement your nail salon as a long-time competitor, you should have a clear idea of what particular value or experience you’ll be offering to your customers – value that they won’t be able to receive elsewhere.
If you’re still stumped, think about putting emphasis on a particular area of the service. This could include offering expedited (but thorough) service, an upscale environment, or an alternative business model, such as membership plans.
Keep Aesthetics In Mind
Another way to ensure your nail salon captures the attention of a unique, loyal audience is by being inventive with how your business looks – inside and out.
By narrowing down a specific look or atmosphere you’d like to capture – and perhaps hiring some insightful interior designers – your nail salon can shine as brightly as your customer’s nails do.
Aesthetics go a long way towards making the customer experience in your salon meaningful and memorable. Most nail salons make the mistake of being plain-looking and sparsely decorated.
But, with a clear vision and some design work, you can step up the value of your salon immensely, potentially drawing in more customers than ever before.
Choose An Ideal Location
Accessibility and convenience play a huge role in determining where people take their business. Even if you offer the best service and price, if your business is located in an awkward and out-of-the-way fashion, you can bet potential customers will frequently opt to go elsewhere.
Invest in your businesses’ future and take your time with the location-hunting process. It’s a major decision that will invariably affect how well your business performs.
If you’re not sure what location will work best, keep your target demographic in mind, or consult an expert.
Don’t Skimp On Equipment And Furniture
One of the best initial investments you can make with your nail salon is the quality and selection of furniture and equipment.
Striving to provide the best experience for both your customers and employees starts here. It may be tempting to go with cheaper alternatives, especially as you’re just getting things up-and-running.
But, fail to invest in high-quality products, and you’ll quickly see your business suffer. Keep your customers and employees happy by purchasing comfortable furniture and long-lasting, high-quality equipment.
Hire Your Way To The Top
As a service-based business, your customer’s experience with you and your employees is everything.
Hire employees that will understand and work to uphold the values of you and your business. You can accomplish this by creating a clear, powerful mission statement to share with your interviewees.
If you feel that they resonate with the statement, or that their values are congruent with yours – you may have an excellent new employee on your hands!
It doesn’t just stop there, though – your relationship with your employees is a two-way street. Which brings us to our next point:
Show Your Employees That You Care
Unfortunately, this is a mistake made too often by most nail salons. While providing an excellent customer experience is paramount – you can’t expect to have a successful business on your hands if you don’t treat your employees well!
Do some research and ensure that your employees are being compensated fairly for their hard work. Establish an environment and rapport where they’re able to be honest with you and express their concerns or criticisms.
Miniluxe, a nail salon chain in Boston, recently made the news for their generous and commendable treatment of their employees, offering paid vacation time and health insurance.
Go above and beyond for your employees, and you can ensure that they will do the same for you and your customers!
Power Up Your Business With Nail Salon Software
As a business owner, you’ll soon realize that time is money – and one of the best ways to save time is by utilizing software to organize and manage some of your salon’s responsibilities for you.
Using an online scheduling solution, for example, will open up a whole new world of convenience for you, your employees, and your customers.
Once your software is set up and running, you can expect to see a noticeable reduction in no-shows with automatic appointment reminders. You’ll also be able to store customer information easily, for reference later – such as preferred nail styles, colours used, birthdays, planned vacations, and more.
With software on your side, you’ll also be able to offer customers an intuitive way to book their appointments online, too – something you can be sure they’ll love.
Advertise & Market Through Social Media
We’ve said it nearly a hundred times by now, but social media really is a highly effective way to promote your business.
With your demographic once again in mind, pay attention to influential social media channels such as Instagram, Twitter, and Facebook. Create a profile for your business on these sites and get to work on building an online presence for yourself.
Aside from paid advertising on these sites, you may be surprised at just how effective influencer marketing can be – which involves collaborating with “influencers” (or those with a large social media presence) in order to promote your services.
For some ideas, check out this post about how one nail salon has mastered marketing themselves online via Instagram.
Budget Yourself & Stay Accountable
As any new business owner likely knows, the first few years of running any business can be a financial struggle. It may take a while before your business can even be profitable.
This is why establishing a budget and keeping your finances in-check is absolutely crucial. Make sure you track every expense in order to reduce the likelihood of frustration later down the line.
Of course, if you’re apprehensive about managing your own business finances – or just want an extra opinion – you can always enlist the help of a professional accountant or business advisor.
Work Out Funding & Financing Details
Unfortunately, starting a nail salon business isn’t typically a cheap affair!
You’ll definitely want to ensure that your initial financing is in-check as you work to get your business established.
Whether you’re opting for a traditional bank loan, working with investors, or partnering-up with trusted friends or business partners, it’s wise to ensure everything is in-line and on-time before going all-in on your new and exciting venture.
We hope this post has been informative! We wish you the best of luck as you enter into the world of business ownership.
For more business strategy – online and off – keep up with us here at the Yocale blog, five days a week.