New Nail Business

jennie221

Hi, just looking for some advise.

Im about to start my 3rd ( unrelated) business within the beauty industry

The location Im an planning to trade has just lost its only nail bar and has offered me the chance to start one.

Its something I really want to go ahead with but the problem is I have no idea on the trade.

I can do the business part of it, market research, competition ect but do not know where to start to research things like supply costs, profit margins on the manicures ect.

Or even where to find suitable technicians!

Anyone have any idea on where to start? im based in Scotland

Thanks for reading


Jennie

Opinion

1. There may be a reason that there are no other nail bars and why this one has closed it's doors.

2. Why would you want to go ahead with starting a business if you have no idea what your costs are, what your margins are, staff costs, where to find staff etc.?

You need to put together a thorough business plan and really think about it, not just do it because the opportunity has arisen.

shegirl

I agree with the above.


I would also suggest that many people these days tend to use mobile nail technicians, because there are so many around and they are stupidly cheap.


To add to that, if you do decide to go ahead I would urge you to be very cautious in who you employ as a technician. A lot of the technicians around now, especially those who work from home/mobile are absolutely dreadful and the nails, while cheap and loved by those who want a good price, look bloomin awful! So be very very careful.


I would suggest you look into how much call there is for the moment. Facebook is awash with stay at home mums who are mobile/home based nail technicians who have done a short course and just do it for a little extra cash/ working tax credit purposes and are dire but loved for their cheapness

jennie221

Thanks for replies

""Why would you want to go ahead with starting a business if you have no idea what your costs are, what your margins are, staff costs, where to find staff etc.?

You need to put together a thorough business plan and really think about it, not just do it because the opportunity has arisen.""

That exactly what im doing now.

I have no intention of going ahead until I find out the costs and if there is a demand, and what the margins would be ect. I do understand how a business works but im just finding it difficult to find the information on equipment ect. Sorry, I may not be explaining it too well lol

I am in the process of putting together a business plan, just, as the poster suggests. I want to hire the best available technicians. Just looking for ideas on where I could begin

Just wanted to see if there were any forums/websites that could be useful for my research

Savvy_Sue

One thing which I have heard is that some of the 'mass market' nail bars on the high street are staffed in fairly unscrupulous ways, including illegal immigrants working in virtual slavery. If you are competing against anything like that, then your staffing costs are obviously going to be a lot higher.

Also do you have experience in your other beauty businesses? I ask because generally I'd say it was a good idea to know what's involved, both so that in the event of illness or staff shortage you can step in, but also so that you can directly assess whether or not someone is doing a good job. I may have misunderstood you but if you haven't trained as a nail technician yourself then it may be more difficult to do that.

jumbojuice

there are lots of these on every high street - and they are constantly changing hands -

I think the key thing is to get in, and build a reputation for great service, so people keep on coming back!

good luck..