How to Finance a New Nail Salon

[@cmarie2458]

I was working at a salon for 4 years making commission and I always knew I wanted to leave and do something bigger. I had a huge clientele from working there so I found out about a room for rent inside a hair salon. I made the move and its the BEST thing I ever did. The owner of the hair salon gave me free reign to do whatever I want with decor/my prices, etc. All of my clients followed me there and my boyfriend helped out with some of the costs because at the time he was making more money than me as a social worker but now Im making just as much as him. I love going to work now!

[@youngnailsinc]

Awesome!

[@MyrtoPngpl]

Never clicked faster in my life !! 😂My biggest dream is to open a salon and I believe in a year from now I finally will!

[@nailswhope]

No One can take your Dreams way! Keep up the goals!!

[@youngnailsinc]

haha nice

[@gimygaming8655]

Good job. Keep at it

[@stefanysanchez2874]

Lovely video content! Forgive me for butting in, I am interested in your opinion. Have you ever tried - Chireetler Become Athletes Rule (do a search on google)? It is a great exclusive guide for understanding how to get bank funding for your business minus the hard work. Ive heard some interesting things about it and my close friend Aubrey finally got astronomical results with it.

[@afiyaalexis4180]

@@youngnailsinc 9 99⁹ is

[@wendyjohnson8218]

Brilliant advice for those starting out! I have just turned 49 and after 28 years in the care industry, suffering a major tragedy last year, I’ve now got a beautiful,small salon in my conservatory. Ty for all the advice given x

[@youngnailsinc]

Congrats to you

[@LevenLyfe]

I started with a desk in my living room, took up half of my living area, and worked from there, this is my second year, and half of it was spoiled due to corona, but I still have nothing to worry about, because I work from home

[@andi6986]

Thank you for this! Last September my supposedly business partner and "friend" decided that we will franchise a café/nail salon/lashes/brows/spa (i wanted a spa business and she wanted coffee shop that's when i discovered a brand that offered both). Initial agreement was to start with just coffee shop but then i discovered this nail spa/café which i think is a good concept, we ended up getting a space for 1600 sq ft. Then the capital balooned to 120k usd. My "friend" is in the US btw and im from the Philippines and we were supposed to open the business here. After me helping her process everything and issuing all the checks to close the deal with the lessor and franchisor when she came back to the US she decided that she wants to do it by herself and offered me to be an investor instead which made me pull out my shares. I ended up getting most of my money, only 400usd left unpaid which she claims as my business loss because I pulled out. I'm glad I did because the investment was soo big and scary! I am now starting my OWN brand and found the connections for all the trainings. Taking it slow and small, secured a 540 sq ft space with my own design. Glad I did it and learning in the process. 🥰

[@gimygaming8655]

Is it only me that likes to listen to them as background noise and just nods along while taking it in? I can't wait until I can open a salon

[@nailcamino]

I lost my job at a nail salon back in 2015. I started building my tiny nail shop then. I worked part time in other nail salons for 2 years while building my salon. Got fired again. On my own now for 3 years. Its been the best decision. Dont take loans. Start small, buy things for your salon a little at a time. Stay home if you can.

[@youngnailsinc]

Good for you!

[@woolgirl21]

Very good advice. Ive been a Nail tech for 18 years, working for myself and also in a nail salon, but stopped to have my 4 kids, and now we are building a little nail room for me in our garage, looking to open in a few months, costing us maybe 2 grand to build, which we are paying for as we go, no loans or credit cards, and then I needed to buy a few more products etc, but I have been doing it out of my lounge for the last 2 years, to get my confidence up again and gain a clientele etc

[@youngnailsinc]

Great way to adjust to reach the goal! ❤️💖

[@jasminejenae]

I love this series so much! Y'all are keeping it real & still encouraging those with the dream to still achieve their goals realistically.

[@tycolab9143]

This is timely because I'm studying that chapter now in nail school! Doing homework on it and a business plan right now. How cool!!

[@youngnailsinc]

Nice

[@kelleywood4498]

Young Nails team has definitely given me a clearer and better idea of what I’m getting myself into. I’m happy that I can share these videos with my classmates and open their eyes as well. Glad y’all are there,looking out for us! You rock!!!

[@kerrymcintosh2930]

Excellent video. I own a boutique business and everything you said is so true. Double the expenses for repairs/remodels, start small, make sure you love constantly troubleshooting on the fly and have financial wiggle room or it can wait. Don't learn those lessons the hard way. Also, have a lawyer review any leases because it's amazing the conditions they'll slip in there that could have a major financial impact on you. Like always, thanks for your awesome content!

[@youngnailsinc]

Well said!

[@kathytarman2302]

You are helping so many people who are just getting started. Thank you for sharing this information. Love you all.

[@youngnailsinc]

Happy to help!

[@gimygaming8655]

I love them

[@Rozzie...Brisbane...Australia]

Hey Guy's, in 2010, I started with massage (lomi lomi), a bottle of oil & a portable massage bed. Lots of clients wanted beauty as well, I went thru a private college @$12,500 and paid for it out of my own pocket (so no overheads). Whilst in the 3rd month of college I applied for a job in a salon to get firmiliar with how the business for beauty & massage worked. I also took on many outside of class massage course and waxing and nails, all paid for by myself after completing each unit. It took me 3.5 yrs to complete, thanks to a great CEO of the college that worked with me on course structure and payments as I nearly left the course in the 1st month. I have and still do any trainning I can to keep skills up and new procedure's for business and beauty. Fortunately, I had a business background but in a different field of work (Secreterial/Bookeeping/Business Administration & IT). I learnt what not to do at the salon I worked for and I actually had to have 2 days permanent hours as more clients asked for my services (I am very good at what ever I get passionate about). I was once on the other side of beauty and a customer & I know the salon I worked for had very poor customer care and was only interested in selling up products to make the rent, their services lack good trainning and on going traning (why the only training I ever got there was a DVD to go home and watch , and that happened once). After drilling the manager about her qualifications, I was horrified to find out she had done a weekend course for massage and another weekekend for waxing. She had never done any beauty or got qualified in machinery, yet everyday in the salon she was doing massage and machinery work on clients. It was me that pointed out that the Fat Cavitation Machine was faulty & not working, she said how do you know that, I said because the skin is not pinkish after treatment which it should be when using laser, clients had paid $850 for 10 treatments and everyone that came in that week had not had a treatment done on them as the machine was faulty and they had no idea they had been ripped off. I moved into a house that had seperate rooms in the front and set up my massage as I said in 2010, by 2013 I could now do 5 different massage modalities, by 2016 I was fully qualified with beauty and moving into light therapy treatments and lots of nail work. I completed my clinical training at a public TAFE Bundamba (where you came out to and did a class with nails). I wanted to see if public training was any better than my private. I now know I will expand one day and need other assistants and I know how to find whom would work for me, student's that where actually passionate and very knowledgeable. Two girls in private stood out to me in my classes and two girls in Tafe stood out to me, I have learnt, it the person themselves's not just where they get the trainning from and their passion and dedication to thrive. I have 45 on my database and can always pull in more from my letterbox drops of my Newsletter, I keep to a set amount of appointments daily and one day for office work weekly. I've just opened my 4th treatment room, have very little overheads and earn a minimum of $65 per hour. Hope this helps, and look forward to you doing an updated KZbin on opening your own salon PART II...Thanks for doing this video....Rozz Dummett...Forest Lake

[@youngnailsinc]

Wow, so much information, thank youfor sharing

[@lisaw2138]

Was just asking a friend today who is a bank manager about small business loans! So weird this popped up. I want to do a mobile salon. Use a small RV type vehicle because it is small and with all the regulations now I thought ... hey I would ONLY be able to do one client at a time and appointments only. Set up major advertisements on where I'd be and when. Or come right to your house with my truck all ready for you to enjoy spa services right in your IDK ..driveway. AND noone else offers a mobile services in my area. Still putting my business plan together but I am curious about the success of services like these.??? AZny thoughts, or ideas would be extremely helpful.. Thank you so much for these videos. You guys have helped me tremendously!

[@youngnailsinc]

This is possible, just need to check regulations for your area to find out requirements

[@kaIIie]

I think this is really good advice for anyone that wants to open up any business. You're really giving them a barebones analysis what's happening. I am totally here for this!

[@youngnailsinc]

Thank you

[@LaSultrySoul]

I am in the process of opening a home based business once it expands move to a brick and mortar I am going to start off small. I am glad this video came on time.

[@youngnailsinc]

Nice

[@TenishaOverstreet]

Im currently at the starting small stage. The salon I have now was already a salon and I used some of my savings. Things are definitely not perfect but I’m still pushing! Ready to go bigger but that’s just my dreams/goals

[@youngnailsinc]

That's awesome

[@ms.marynailz748]

I love this brand. Y'all actually give GREAT tips and advice ❤️ and one day I will see y'all at the top 🙂

[@yvonneshae4108]

Love all of the great advice and tips!! You guys are awesome

[@youngnailsinc]

Thanks so much!!

[@cassiebeardmore3665]

I was really lucky and hubby financed everything in the salon while I’ve been studying, and looking after our son. it’s taken 10 months to get almost everything but we managed to do it without getting in debt.. although it is a home salon which helps A lot with overheads. I’ve only got a few things to get.. once I’m qualified which will be in the next couple months I’ll be able to open.. even if I get one client a week to begin with I’ll be happy as it’s a start, something is better then nothing 💅

[@youngnailsinc]

nice

[@froggieiis]

This couldn't come at a better time! Im currently renovating my own nail studio and its so expensive!!

[@youngnailsinc]

Hope this helps

[@catherenejoseph3576]

Coming back to the buisness I had a hard time finding work so I opened my own business I started small working with my own money my husband and I did the work need I bought pre own desks and pedicure chairs were still working on a few things but with the covid-19 everything was delayed I'm in a very good location lots of traffic once we are open I think sky's is the limit

[@youngnailsinc]

nice

[@tatianamckoy3552]

man...i dont want to do anything for thr rest of my life but nails and i dont want to work for anyone else ever again..im going to have to work 2 fulltime security jobs and save...this is going to be tough but im by myself doing this..it will pay off in the long run.

[@samdagostino8730]

I appreciate this so much! I feel super encouraged to keep building from small.

[@youngnailsinc]

Awesome

[@annettemooney3031]

I'm reopening my home based salon, I had one in early 2000's, Got divorced and stuff, now 15yrs later reopening in new area, I got hurt last yr at work as a carer, and cant do that anymore and I have always loved nails its my passion i'm so glad I have such a supportive husband, who loves that i'm starting again. But its hard to build clientele in the beginning

[@youngnailsinc]

For sure, best of luck to you

[@robynpainter1676]

I want to open up my nail bar. I am starting a press on nail line through instagram and shopify. My dream is to have a nail bar and lounge in a year!! Thanks for the video!

[@youngnailsinc]

Good luck!!

[@ditteelvekjr4991]

I am in nail school and have a small home salon.... small steps. Dreaming of opening a salon.

[@youngnailsinc]

Nice

[@GoddessCreated]

This was extremely helpful and inspiring. Thanks as always you guys rock

[@youngnailsinc]

Glad you enjoyed it!

[@lilmomdom]

THANK you SO FREAKIN MUCH for doing this and sharing this info - so helpful ! ♥️♥️♥️

[@samsam3046]

I decided to open a nail studio my husband and I bought stuff easy easy and he did a lot of the work himself ceiling electrical tiles furniture

[@youngnailsinc]

Awesome

[@adaywithmeathome]

Thank you both for this video..I'm looking to open a small place of my own.. your video was so informative 👌👌👌

[@youngnailsinc]

Glad it was helpful!

[@nailswhope]

Thanks for your Honesty Always, Means alot 💖 What about Renting a store front to start, maybe while building up credit clients & supplies?? Is there a reason not to? Is this a stupid question/Idea... Or is it a considerable " start small"? I still have a long way to go but I'm planning, learning& studying as much as I can to be better educated about it Alll. Ok ok yes I take pictures of empty properties also 😁 I'm in Asheville NC and the store rent is under half price to apartment rent, even the one's right above the stores not just complexes. When i first got displaced from Florida i wanted to just move into a store front 😂 Cost of living vs Pay here is mind blowing compared to Fl. Even On Cocoa Beach where I was or Orlando where i was raised. Thanks for everything 💖 Everyone🤗

[@youngnailsinc]

Store front? As in like a salon? If that is an option for you then yea give it a shot

[@nailswhope]

@@youngnailsinc Yes,like in already established in high traffic areas( don't know what to call it) and sadly I see more Not Opening back up and we've been open for 3wks now. Hopefully they are just getting everything to new standards but All the Business owners in Our Country have been in my prayers. Thanks 💖 YN for answering ALWAYS 😘😘😘😘

[@purisuu]

i started a nail salon business without knowing how to do nails! @olanails_sg It was pretty easy setting up the salon. Decided to learn how to do nail so I get a bit of respect from my employees and so I know what they're doing and empathise with them if something were to happen btwn customers and themselves. Now I know doing nail ain't easy and I love playing with nails. It's my hobby! I still don't work in the salon though I pop by!

[@QUEENBE289]

A lot to think about

[@youngnailsinc]

For sure

[@lidiasharp-garcia3189]

My new home we have two basements and one has a bathroom, separate exit, kitchen. It needs to be remodeled, but my husband and I have decided to remodel it and have it as my nail salon place. That way the house increases because we are upgrading and I don’t have to literally pay for a spot or anything like that. Do you think this is a good idea???

[@youngnailsinc]

If that works for you that's great, want to double check your state board regulations

[@flatbrokeatfifty]

Very sage advice

[@youngnailsinc]

thanks

[@MakeupDivaMesha]

Oh this was helpful!

[@youngnailsinc]

Glad it was helpful!

[@CristinaMartinez-gk8lu]

I have been wanting to open my own salon but do to me moving around a lot. I have had a hard time building and keeping clientele. So i had the idea of taking over someone else's salon. of course doing the research on the salon first and see how there business is going. but what do you guys think about that, is it easier or harder, would you ever take over someone else's salon?

[@youngnailsinc]

You certainly can, just with the understanding it won't be any less work. You don't know what the circumstances may be with the building , landlord, etc. As well as it isn't guaranteed clients will stay with the building

[@maviswilson6781]

Hey everyone, I have a question...a dilemma really. I have carved out a space in my basement for my nail salon. I have about six dedicated clients that come regularly. I had a small nail studio with about 1200 customers/clients in my data base. I love working from home, but I can’t advertise because of my HOA. I have always been by appointment only, but now I have to decide should I stay with my six clients (I ask them for referrals and I did get a few), but not nearly enough to make a profit. I want to know your opinion...should I lease a nail studio (one person suite) or stay in my basement studio. Help, I’m torn! In the industry for almost 8 yrs.

[@monikabarragan5041]

Hey I was wondering if young nails might have a sale soon🤗

[@youngnailsinc]

Hope so! Stay tuned to social to find out

[@litothevanishingamericanba1646]

How do you go base on commission? In what percentage?

[@youngnailsinc]

This is something you would have to discuss/negotiate with the salon owner. Every salon is going to be different and the commission may change depending on your experience, if you already have a clientele, what products you or the salon are supplying, etc.

[@formersupermodel848]

I'm thinking about the list of things dealt with by owners, its the same list as a booth renter. I guess it comes down to overhead and control? I can not control my fellow booth renters behavoirs. I am making my checklist like Tracy. I intend to start as small as possible. This is off topic, I love working downtown. The homeless people do not offend me, I am curious how other urban salons handle this. I want to outreach.

[@audreyzoesch]

Do you guys have any videos on how to get hired on hourly or commission at a salon after graduating from a nail tech program and getting licensed? I can’t find advice or direction on this anywhere

[@youngnailsinc]

We have some comparing booth rent vs commission

[@allythearts5439]

What if you don't have good enough credit Should you take out loans ???

[@youngnailsinc]

You would need to make these decisions for yourself based on your ability to re-pay loans if you do take them out.

[@karlasostarko1176]

I have a huge question, how to cancel an appointment as a nail tech, e.g. I got sick, I unfortunately suffer from migraines from time to time and if I get one, no amount of pain killers will fix it so I really can't work, so what is the best approach in that situation? In my case, some clients are really nice and understanding but others....

[@youngnailsinc]

Just being upfront honest and accommodating. We all get sick, nothing new there. However we don't have the luxury of someone covering so when you come back you need to hustle work a few extra hrs to accommodate all those people you canceled.

[@karlasostarko1176]

@@youngnailsinc thank you so much for answering 🥰

[@Linda-cb1ri]

Step 1 ✍️ get a ✍️ handy ✍️ husband

[@Dailyfitrition]

This is all horrible advice they’re talking bout buying stuff on a credit card not business credit

[@youngnailsinc]

Thank you for the feedback.