THE BIZ TALK - NAIL SERVICE COSTS - DO YOU KNOW YOURS ?

[@Tweetiemcgee]

I think one of the hardest thing for especially newer techs is this mindset that if I don't undercut myself then I will lose clients to non standard salons. I've now been doing nails for 4 years now and am finally getting my backbone to charge for my time and experience which I think is another important part of in calculating your costs. If you're doing crazy nail art, have a basic service and have an additional add on service for those things that take more time and build your portfolio!! I love the fact that you addressed the importance of being business minded first because I think people with great talent miss that aspect and spend their whole career scraping by instead of doing right by themselves. Thank you 💅🏼💓

[@michelefelix5395]

I had a 15 year career in accounting & helping small business owners start up. It was a different industry, different animal, but that knowledge has proved to be so helpful in starting my own biz straight out of school. My nail services average approximately $10 cost per service. Super awesome biz talk. Thanks guys!

[@sweetlybuffed2730]

This is such a helpful video. Im a new booth renter so this is very important to me. Maybe you guys could do a small segment and write down the math. Like a breakdown on a white board or something like that? Im a very visual person! Haha thanks again for all your amazing knowledge 💜

[@youngnailsinc]

Great idea, we will pass that along ❤

[@EllaHayaTV]

Sweetly Buffed yes that be great. A formula how to do the math x

[@PN-sk3ve]

Good point because not everyone understand the "business" side …. let's hope that YoungNails will give us a video on this suggestion. Again thank you to YoungNailsInc for always leading the way on how to make a living as a Nail Tech.

[@yamileth-perez-nails]

@@youngnailsinc Please! I'm visual too and I need to understand how to do it.

[@geordiegirlltd9282]

Great discussion. This is the point where you realise exactly HOW serious you are about making your passion a BUSINESS.

[@taishaking4201]

You guys!!! Omg Thank You sooo much for this Biz Talk! I was telling my client the other day that in nail school they didn’t go into detail about business management and how clueless I am to the business side of being a nail technician. This just put everything into perspective for me. THANK YOU!!!

[@itslinziwalker]

I am a massive advocate of making sure you know what to charge. I've seen so many new techs come through and charge £10-15 per service - this is utterly MENTAL! I always advise to work out their CPS for product, and for all other business expenses (website, insurance, professional subscriptions, etc; even the things you don't even think about - the magazines that you have in your reception area every month, etc) and then add in how much you want to take home and what profit you want to make. That's the minimum you should be charging. Half the time these girls are working their backsides off for less than half minimum wage! Great video guys, thanks!

[@youngnailsinc]

❤️❤️❤️

[@divm8559]

ok, so last week, i was up all night coz i was working on costs, and got too engrossed. i am a starter, working from home, switched from being a full time economics professor( on a sabbatical as my lo is too small to join back fixed hours), and naturally business is totally hit by corona. so this slump gave me opportunity to figure out that i need to analyse costs with different perspective. now first aim will be to cover all standing costs, like training/ hardgels/polishes/ furniture/lights/equipment/ nail art stuff etc, total cost that has gone in. then i tried to work on three different pricing structures (A,B and C), and how many manicures i will have to do to cover my costs. if i opted or lowest pricing structure (C), i will have to do so much larger number of clients! as number of manis to be done is so much more compared to medium pricing B. it will be a challenge to find so many new clients also. medium pricing will require relatively fewer manis, while again, high pricing (A) drastically reduces your clientele required. so you need so few clients and do so few manis and still cover costs! major takeaway was, do not opt for low pricing. I am also planning to start going mobile. i will appreciate some guidance as to how safe is it to go to random unknown clients' homes, what if they don't pay full amount after service? how to sit on dining table for manicure? I plan to charge extra for fuel but if they arrange another client (their friend), the extra charge will be divided in half. May be after two years i'll go back to my previous job, as being an entrepreneur is no less demanding. please reply with your suggestions for this situation. looking forward to your expert opinion and suggestions. thanks!

[@angelabates8407]

That's what I'm trying to do the rerirement centers, hospi , home bond folks, disabled folks, high scools for a mascot on the cheerleaders nail.

[@kristineambeau4633]

I just cancelled out regular pedicures and went to a gelpolish pedicure only a few months ago. It just wasn't worth it to do a regular pedicure anymore. I just told my clients and none of them had a problem with the slight increase.

[@youngnailsinc]

Most clients are very understanding

[@artistrybyericadawn4122]

Yes i do not do basic pedi i do deluxe n gel only !

[@melindastowers7772]

This is an excellent discussion! I am starting school soon to be a nail tech. I have already decided there are services I will not provide due to cost like manicures and pedicures. I will focus on acrylic and gel sculpting which will be unique in my area. Cost of sales is so important so is a profit and loss spread sheet. Looking at where you are spending money every month by category and vendor can help you make adjustment in where and how you buy or charging for specific services like glitters or gems.Great discussion!

[@youngnailsinc]

Good luck in school!!

[@laurentorres6110]

Thank you for breaking it down. Its something I've been putting off for a while now and I know I've been making mistakes. I think it's also important to factor in how much time it takes you to do a service as well. I think that's the biggest factor I've been most concerned with.

[@EllaHayaTV]

I'm from London and this is something I am working on NOW. I would just buy anything. But now I AM keeping a diary and writing how much I use and exactly what I use comparing it to what is popular not just what I like! Nail art is very popular now. But I will surely start measuring how many sets I can get out of my powders and liquids. This is the best video by far online. I am starting to log and keep track of my items now. It is a business something I totally underestimated at school I was not taught this. I would surely like to see more this is so important to learn as this is how business may fail due to ignorance! Thanks so much Habib, Tracy and YN for your amazing contribution and help to us techs and the industry xx

[@dalenedanster3174]

This is really interesting. i recently just became a qualified nail technician and this is something i am really struggling with is bringing in more clients in that are willing to pay for a quality nail service, and the products i buy just doesn't match up with how much my nail service costs. i know its been only a few months but its really difficult.

[@Ezster69]

I know my salon charges $22 for gel nails with removal it is $25. Art for two nails $5 so it goes up $30...chrome nails another $10, gel nails with chrome and art and removal $40.

[@YveRich]

I thank you for your time and consideration in all of this. I would love to own my own business I work in a nail shop and it's killing my clientele of the shops reputation I do say so myself I rather good at what I do but it's the numbers that freak me out I strive to be better than me every day I become stressed out that I have so many clients and I rather setup my own crew so that we can have our own freedom of the right things to do I watch your biztalk consistently to learn new things to better myself so I can better other people girls who come in who wants to get their nails done actually want to learn how to become nail technicians this is building a great wall for me but I can't seem to knock this other wall down to build a better please once again I thank you and please if you can help me with this situation I'll forever be grateful anyways thank you guys so much

[@patriciagallacher6741]

Maybe do nails from home and if you want to teach Liz acrylic nails did a course about a month ago so she could teach,her videos are great too. Isabella may nails does blogs too about doing nails from home

[@tinasnailsandbeauty]

Thank you so much for sharing with us another vital topic on business. I did the very thing - always checking & calculating my costs overall when I first started about 10 yrs ago but at the time hadn't separated it. Years later, due to an ongoing network issue with my eftpos terminal, I changed banks etc & finally separated the two accounts. Goodness!!! Life & the business is much clearer now & easier to keep track of. I hope people heed your advice too ☺️👍 - Tina, Gold Coast Australia

[@youngnailsinc]

teenzie65 that is awesome! It’s essential to separate... as you said it keeps things clean.

[@duzzie1817]

I think my issue is I'm so slow at doing nails. I've tried everything to fix it but it's starting to cost me money. If I could get my time down to an hour I would be fine.

[@youngnailsinc]

Check out our nail school section of videos. We have a few videos on how to save time on your services

[@nailtechsara]

Thank you guys so much! I've been a nail technician for about 10 years now but a stay-at-home mom for the past 4 and I am looking to get back into doing nails again and I really never looked at it this way I always wanted to but I just never knew where to start, and I can't say thank you enough

[@youngnailsinc]

❤️❤️

[@nickyjennings4066]

Do you guys have a break down of what you think you should get out of your products? Like a bottle of mani q how many gel polish services should I get out of that? That’s the hardest thing for me to figure out

[@youngnailsinc]

For 2 coats, Our gel polish will give 20-30 services per bottle. For base and top you’re going to get more because it’s only 1 coat.

[@leopardfreak07]

This is something I’ve been trying to figure out lately so I’m so glad you made it a biz talk! I just decided I’m going to go full booth rent starting this week. I’m having trouble figuring out my costs for smaller things like protein bond. I haven’t used an entire bottle yet so I’m like how to I calculate this? Do you also add in your monthly costs if you traveled to trade shows, education, etc? Or is that a separate category? Did you look for an accountant that specialized in the beauty industry? I think we could totally use a second video that talks more about separating business and personal expenses and list more items of what you can count as a business expense 💕

[@lilianaortiz5898]

I would like to see a video on how much to charge for nail art and crystals, length, shape...

[@Ezster69]

Nail art make is simple two fingers $5, crystals see how much they cost is usually I charge for a few fingers any more than what I deem as simple art I start charging double what it cost me. Length is usually $2 more. Shape same thing $2 more.

[@EnvisionTransformationCoaching]

Indeed, this is an important topic. Local SBDC's can help nail techs and cosmetologists figure these things out or at least point them in the right direction. Calculating inventory/product used per service is not easy, but necessary to set prices and have a profitable business. Thanks for talking about this. :-)

[@unidasxlabelleza4454]

I thank you guys for this video ! Ive been struggling separating personal and business money even after I opened my business account but now I truly understand the importance

[@jacquelinedimattia774]

Love this week's Biz talk guys 😍 Great info But I think you should include in business costs the expensives of trasportation... Very few people live close to their Jobs/ Businesses.

[@divm8559]

Also, similar cost breakdown for builder gel and gel polish combined will be highly appreciated.

[@mygeorge1951]

Thanks for talking about this subject. I'm guilty of not entering my receipts on a spreadsheet!

[@youngnailsinc]

Lucky Lucy Ricardo All good... no time like the present! 😁😁😁 let us know how we can help.

[@consuellayates4323]

Awesome. And so helpful to me. I rent a suite. And buy in bulk twice a year. My polishes and gel polish last quite a while. But if you could do another cost per client again it would really help me. My per hourly rate is $40. But I would love more on breaking down cost per service. Thank you

[@mvelenagarcia]

It's so true... I failled at my first bussinnes because of that... Don't knowing the real costs for every procediure I did. Now i buy stuff and figure out how much I spend in a set of Nails and how much every set costs

[@youngnailsinc]

mvelenagarcia so happy to hear you do it now! ❤️

[@mvelenagarcia]

It's the only way. Now i have to create a separeted acount

[@nailcreationsamanda]

Thank you for the "butt kick." I've started to mingle my accounts again and know I should separate them, again. In my defense I've made a spreadsheet to log all my expenses and it works great. I tend to stay on top of my costs that way.

[@nailsbytashad]

Love this video, how would you suggest figuring out all of the extra stuff that we purchase such as glitter and things like that? Do we just figure out how much we spend each month on that and divided in between the services? Like for brushes and things like that that we don't have to replace as often. Thanks for the video it came at a perfect time.

[@raya74]

Congrats on 400k you deserve it ! Best nail channel on KZbin this translates into any business not just the nail business

[@danitajhumbert]

I loved this video. I recently raised my prices, for the express reason that I was working a ton and yet felt like I had nothing, money, to show for it. The majority of my clients were fine with it, the ones that weren't we figured out a lesser service for them. I don't specifically know how much per service my cost is. But I do know what my overall expense vs income is. About half of my income goes back into my business. Does this sound like a good amount or should I try to cut back some on what I spend? I also try to buy product when there's a good deal. For instance, when you have your bogo on protein bond, I'll try to buy enough for the whole year. Yeah it's a lot going out at that moment, but in the long run I get a great price on it. I've also found that buying in the bigger sizes usually saves you money. I've also had separate accounts for the last 8 years. Anything that is at all business related comes out of that account. Thank you for your great videos. I have been buying your products for the last 16 years. Keep up the good work. 😍

[@youngnailsinc]

Sounds like you are doing amazing!!!! ❤️❤️❤️

[@kimmajlak6882]

I would love to hear your takes on a travel business. As someone who is just going to start my business in a few months, what is a good average price for a beginner for basic services. Like what do you charge for nails with tip. And acrylic, while you practice gel and nail art. What would be good starting points for profitable services?

[@charliewelsh2106]

So I have taken your guys's advice and really crunched numbers. I also am in the middle of creating my 2019 book for booking clients and beside every service where it has the price I have another column four- cost which equals profit and then a column for notes to let me know how long that client did so I can figure out exactly for the year of 2019 who takes more of my time than others and so that I can adjust my prices as need be. I am also going to be increasing my prices and charging for art. I can't thank you enough for all the information that you also freely have given throughout the years I'm a huge fan and always have been hopefully someday I can make it to California and introduce myself. Thanks again from Edson Alberta where it's snowing LOL I'm so going to move to the states one of these days

[@youngnailsinc]

That’s wonderful!!

[@x0_Sakura]

How do you calculate nail art? Especially items like Chrystal’s or pigments/chromes that not everyone will use. What is a good starting point for hand painted? I’ve heard tech will mark up their crystals by 250% cause of adhesives and time or charge a dollar a min for nail art. I’m super slow, it’s a fine balance between charging my worth and me being too meticulous.

[@Celti_]

You guys are really universe sent. I feel so blessed that you’re willing to share this wealth (important knowledge). Thank you!

[@youngnailsinc]

❤️❤️❤️

[@kariz2cute]

I'm 29 years old and I'm strongly considering a career change. My dream is to become successful nail tech and entrepreneur. Thanks for the time and dedication it takes to produce these educational videos which cover topics that other nail channels don't. you've allowed me to really think things through and further develop ideas that I've already come up with. thank you so much!

[@youngnailsinc]

Best of luck! So happy you are enjoying the content

[@lconley03]

What about polishes and glitters? Do you add that cost in as well? Or is it just what you use for a basic set?

[@glorielsamejia1746]

Thank you!!! Awesome! Very important information. 💚🙏🏼

[@gabzylishus]

Best biz video! I been wondering how to break it down!! Thank you!

[@rachelduckett3408]

Yep. “You gotta keep ‘’em separated”🎶#realtalk though!

[@naildbyj7527]

Okay is it better to buy in bulk or not? How exactly do you know when you’re breaking even? This is the issue I’m having when doing sets because I don’t wanna spend a bunch a money on products and not make it back. I offer regular manicures, gel/acrylics & pedicures and I want to be sure that when I price each service after a certain amount of clients I’ll know what I’m actually pocketing.

[@youngnailsinc]

Bulk is usually the better way to buy because it’s usually a better deal and saves you more money in the long run on products.

[@GonePostal129]

I love these videos, they are so helpful. You’re experiences n advice at the palm of my hands is beyond amazing I can only imagine how much harder this was for u guys without the easy access of social media. So THANK YOU THANK YOU THANK YOU 🙏🏼

[@youngnailsinc]

You're welcome!! So happy you're enjoying it

[@annabflores1984]

thank for all this info, I want to start my business with gel, I'm practicing from home, and hard gel is more expensive, how many estimated services for a jar of 30g, or how about protein bond how many services per bottle, I'm getting ready to start making kits for every service, that will include every item needed and hopefully I can figure out how much each service will cost me to make, still trying to figure it out🤔. How about you do a spreadsheet of all young nails products and estimated services per item, that will rock my world, in the meantime I'll be working on my kits lol

[@amandaa9925]

How does everyone charge for nail art. By finger, technique used, ease, difficulty, by product?

[@ASMRbyKittyy]

This is what I would like to figure out

[@artistrybyericadawn4122]

thank god!!!!! i been trying out how to figure my product per service this helped so much .

[@youngnailsinc]

so happy to hear!

[@sarah13sj]

Love you guys! In an earlier episode you talked about every time you take out a glitter to charge an extra $5. How about nail art? Do you charge by time spent plus products? The base costs are easier to calculate than the extra foo foo expensive stuff. What is your advice on the extras?

[@youngnailsinc]

We have a great biz talk where we discuss how to up charge..check it out ❤️

[@renieravandersandt8105]

Is there a list as to how many services you get with one bottle monimer, 1 45g powder, Protein bond, how many service with a file (when using it for hand filing). So that no matter where your based I'm in South Africa) you can divide that with the price your paid for product?

[@xGL0SSY]

I have a few questions 1. When should you raise your prices? How often? 2. By how much should you raise your price? 3. How to break it down to clients?

[@youngnailsinc]

At least once a year, this is why it is important to keep track of your cost per service. As your costs for products go up so will the cost for your services. Most clients are very understanding when you have to raise your prices.

[@xGL0SSY]

YoungNailsInc thank you! Could you let me know how much is reasonable to increase? Say a manicure priced at $33.

[@darlaguajardo7942]

This is the problem i have now. I open my own shop at 22 years old, I’m now 26 and still struggle with this. Raising my price scares me. I know it’s something i have to do indoor to start making really good money.

[@youngnailsinc]

We have another awesome biz talk where we discuss that subject...check it out ❤️ kzbin.info/www/bejne/eajdd5lri7mKd8U

[@sarasimpkins8678]

Hey guys! How would I start to figure out how many services I can get out of a gel polish?

[@youngnailsinc]

For 2 coats, Our gel polish will give 20-30 services per bottle. For base and top you’re going to get more because it’s only 1 coat.

[@colleenjarman6115]

YoungNailsInc is the 20 - 30 estimate due to the various lengths?, or based on say a medium length set?

[@traceyreierson5166]

Colleen Jarman it’s based on various lengths.

[@michaelscottpapercompany09]

so if we want to open an account for our business, exactly what type of account would it be? and when first starting up, obviously it costs a lot due to mass product purchase, but how long after starting up should it take you to start profiting?

[@youngnailsinc]

A separate business checking account is all you need. The amount of time before you start seeing a profit is going to vary for every tech. It will depend on things like how quickly you build a clientele.

[@vickipage1597]

Brilliant topic. I did work out my Acrylic full set cost, but I struggled with the cost of a gel polish service. Would you be able to help with how many services that you would you expect to get from a bottle of ManiQ/Go Time based on 2 coats per service (I'd double the product usage of ManiQ so it include base & top coat = 4 coats)? Thanks from The Cute-ickle Nail Room x

[@youngnailsinc]

For 2 coats, Our gel polish will give 20-30 services per bottle. For base and top you’re going to get more because it’s only 1 coat.

[@marlenecordero8572]

What is the formula to calculating the cost that would be awesome to see on paper...i just wing it right now but i know i need to do this as my buisness is growing...and i do have personal and buisness together because its only me and i dont make that much money but i know i need to separate it...good advice...love you guys...biz talk...

[@geniferx]

I work as an employee commission based in Detroit, where we have alot of competition with cheap prices. Most of the clients want specialty services (glitter acrylic/flower designs) but doesn’t want to pay and will always try to bargain or complain about the prices. How do i deal with customers like that?

[@youngnailsinc]

Check out this Biz Talk where we discuss that topic 😍 kzbin.info/www/bejne/eajdd5lri7mKd8U&index=17

[@amandaa9925]

Thank you guys so much for all the great info always. I love education.

[@omeucrochett]

Difference between hands and shovels ... difficult for me. How much do I charge on toenails?

[@wezyb9079]

I cannot express how informative this was . I am headed for some really big improvements for my business.

[@youngnailsinc]

So happy you enjoyed the video

[@Claudia-cp8wv]

All this information is priceless guys thank you so much.

[@MakeupDivaMesha]

I am like visual a bit but like i would like more video on this topic. Like nail techs trying to stay competitive in their area.

[@Brendaschnase]

So I change a flat rate of $30 on gel palish hard gel and acrylic and I have started doing silk Poor should I be charging more for silk poor like $35 or $40? Cause it’s something new?

[@vanessasigurdson2061]

Should we also calculate e-files and lights into that cost per service?

[@youngnailsinc]

You are welcome to include that in your cost per service, but most people don't since it is equipment that is part of your station. However, do make sure you include things that are disposable that you would use or use up. For example your files, arbor bands, efile bits, etc.

[@stacyorick8764]

Mind blown! I wish this was taught in school. Thanks guys!

[@Ezster69]

I want to add retail items to the shop. Cuticle oil is always on demand. I know young nails rose oil is $10 from my suppiler, but I need to make a profit. How much can I charge in order to make some profit without overcharging? I have only sold two bottles to break even do far. I do want to push them, I just don't know how much?

[@ma_gicquel2118]

Nice talk! I have a feeling clients always want more and more but never want to pay more than 30 euros.. when I see some artists in Beverly hills can charge 150 I'm amazed but we don't all have wealth people around that actually want to pay an expensive price just for the sake if it.. I want to charge what's good for me and what sounds like quality nails for the client. I notice the cheaper you are the less they have a respect in the work made.. hard to find the good compromise!

[@youngnailsinc]

The key is finding a balance, don't charge less then you feel you are worth.

[@mikita7450]

This is so helpful! I'm so glad that I'm going to school and have your videos to expand my knowledge!

[@youngnailsinc]

😍😍

[@violagirlkmj]

Would a credit card from your bank that you only use for nail supplies be ok? I already have a personal saving and checking with 2 separate banks. Should I just open a business account with one of the banks I already use?

[@colleenjarman6115]

violagirlkmj Some banks will switch your account to a business account if you bring in your business license. I have 2 accounts at the same bank

[@youngnailsinc]

the good thing about having a separate business account is that you can track income and expenses.

[@violagirlkmj]

Colleen Jarman Thank you!!! I plan on trying to go to a booth rent salon but I still need to buy some of my own supplies.

[@violagirlkmj]

YoungNailsInc Thank you

[@hannah-caitlynsmith3314]

Just wanted to clarify, you can get +- 20 sets out of the monomer, but can you also only get +-20 sets of nails out of 90g of acrylic? Please clarify approximately how many active length sets you can get out of a 45g powder? Or do you possibly have a costing sheet showing how many sets you can get out of each of the different products.

[@youngnailsinc]

We do not supply that because again this is a very personal business even if we side by side did the same set of nails same length the amount of product used could still vary based on the way you work. These are general average #s we have came up with based on our own work, however we recommend you getting a scale and trying to work out your #s best you can to find out your costs.

[@hannah-caitlynsmith3314]

YoungNailsInc Thanks

[@addison171987]

I would love to see a C.P.S work sheet!

[@kimberlyrene2452]

Well ok so I'm doing nails in a small town of fort Gibson oklahoma. There are TONS of people doing nails in the town over (10 min away from me) I'm the only nail artist in fort Gibson. Ok with all that said I can literally do everything except builder gels. I suck at them. Ok now, a full set of dip (most of my clientele loves dip powder) I charge $35 if they come back to me I'll charge only $30 to do a new color. So on average I'm doing about $30 a set let's say. I've got on average (I'm still building clientele) maybe 4 people I do a day that comes to $120. I would say my product comes to around $4 a service as well (if I'm understanding correctly) so about $26 a person is what I'm really making. So far am I on the right track lol. I've NEVER been good at math like never ever lol I literally have watched the video 6x and this is as far as I have come in my math hahaha

[@nailtechtaylor3015]

Well you can’t forget about rent for your space, unless it’s free for you. But otherwise, yes that is correct. I also calculate in my continuing education for the year (trade shows/classes/travel, etc.)

[@kimberlyrene2452]

Nail Tech Taylor that's smart. I felt like I was on the right track but wasn't for sure lol thank you love

[@negarahmadi7304]

Amazing tips Habib , I’m on the top of it and you made me even more confident! Thanks a lot 🙌🏻♥️♥️♥️

[@ASMRbyKittyy]

I have a question.. how exactly can I keep track of the amount of services? let’s say I just opened a new bottle of liquid, powder, and protein bond. How do I keep track per client? Would I just put a date on each product and then count every client I used those products on until each one finishes or is there an easier way to do this? My brain always makes everything much more complicated than what it should be.

[@youngnailsinc]

You could do so by date or by weight if you really wanted to get it exact. (Date would be easiest)

[@Healinghearts-sa]

I am trying really hard as a young nails technician in South Africa to stick to my prices but when the winter is slow it's so hard not to feel like I need to discount. What specials could I maybe run to keep clients coming in without losing profit by discounting? I've offered hot chocolate or chai latte. I've started KZbin and Facebook videos so they can see what sets me apart. Would just like to be more visible in My specials without lowering my prices. If that makes sense... any ideas?

[@youngnailsinc]

Have you thought about adding Instagram? It would be another great platform for you to show your work off and where new and existing customers can see your work.

[@rachelduckett3408]

❤❤❤ You two are incredible humans! I love you

[@tasha5933]

This is definitely an awesome video! Thank you for sharing and bringing this up. Is there an app for figuring out how to break down these items or even more? If not an app, other than speaking to an accountant. Is there any other way of figuring out these items?

[@youngnailsinc]

tasha5933 Since everyone’s application is different, have to see what you go through. It will be an estimate, but still be able to get close to your cost. I don’t know if an app.

[@tasha5933]

Oh ok. I'm definitely gonna have to start writing everything down. And making notations. Thank you again for the advice.

[@leighannemetcalfe8320]

You can work it out on a spreadsheet (either excel, google docs or the Apple version) let me know if you want a hand setting it up

[@tasha5933]

Leighanne Metcalfe oh thank you very much. I'll definitely keep this in mind. 🤗

[@divm8559]

how to incorporate one time fixed cost like desk, equipment etc

[@youngnailsinc]

Those would just be added individual misc items. Maybe have a $50 per month additional like insurance budget kinda thing

[@DayzBiz]

This is GREAT! My question is, what do you do when you work in a salon that has many techs. And they all charge the same prices? I am rebuilding my business after 14 yrs. In a small town in Texas.

[@youngnailsinc]

base pricing can be the same if instructed by the salon, however you can be charging additional for art and other details

[@tlomax2768]

I got to watch this again😍💓💓

[@jewelzbrown8805]

Thank you for so much information, I'm preparing to start a business plan and this was right on time. I love all your videos as they encourage me to continue. How do you charge for extra services such as encapsulations glitter, crystals, designs etc .

[@ASMRbyKittyy]

The numbers part got me so confused! I had to go back and listen to it so many times but I still didn’t get it. Please write it down on a board for us! ♥️

[@youngnailsinc]

Haha not a bad idea, like a break down vid

[@MsSxyTexan]

I did too. But basically you total your overall costs for running your business. Then you take the amount of clients you do a day for 5 days and multiply it by for 4 to get your monthly total of clients you serve within a 30 day period (the time it takes for your bills to recur). In his example 5 clients or serviced a day for 5 days each week (100 clients serviced in a month). Divide the number of clients by the amount of your monthly expenses to get your charge for your expenses. If your total expense cost to run your business is 1000, you divide it by 100. You’d then figure charging each client about 10 towards your business expenses. Add that number into how much you would charge each person for product. Then consider any other expense to add in to get your final price

[@nailfixchill2193]

1st : it can be difficult to know you costs when you just started because you don't have so much DATA....BUT it's really not impossible. 2 : we have to do it at the beginning and make adjustments. later 3 : I did a board on excel and it's now so easy to know exactly what I make and lose.

[@nailfixchill2193]

What can help maybe is to have a virgin board that everyone just have to complete

[@youngnailsinc]

That is awesome, the chart will always evolve and change as we add new customers and services.

[@hennys5549]

Great topic!! :) Thx so much!

[@abconversations5469]

I would to see a full break down about how calculate my cost!!! :)

[@dorisgood6732]

You asked how can you help? In your product descriptions tell us approximately how many services we can get out of each container. This would help new techs start out on the right foot immediately and ultimately transform the industry.

[@anitabenade4603]

What do you do if everyone is jumping on the waggon. In South Africa every on is working from their home. Like you said ..fingers in the till. They charge a third of my price...I am using professional products they buy cheep cheep stuff. You won't beleave! !! But I am not prepare to work for that per hour. They charge R 120 to 150 rand per service. FOR 2 TO 3 OURS??? SORRY I charge R350 ( so divide that by 14 to 16 to get it in dollar) and then the people don't understand why you charge 3x more. I have a hair and beauty and permanent Makeup and laser treatments ect. Salon. So I am professional. What do I do???? I am on a point to just call nails a day. But I love doing nails. 😢😢

[@Agnelum1]

Anita Benade I am not a nail/beauty expert, but I can comment from the perspective of purely business. As Habib said on another comment "Charge what you feel you're worth". As you already said, you're not using low-quality products on your clients, so don't feel compelled to compete on price with someone who is using inferior stuff. It's like if you're selling high quality artisanal perfume which has a longevity of 10+ hours, and your neighbor has the stuff which evaporates totally and becomes undetectable after 30 minutes, you're not going to bring your price down to match that. Let your work show why your prices are what they are - quality work using quality products so that they last. Also target the appropriate clientele. The Four Seasons hotel isn't worrying about winning the Holiday Inn's customers.

[@mariaherrera877]

Very useful!!! Thank you 😻😻

[@judidios]

Awesome my son, told me this like 6 months ago and he is 14 and i was like😲. And indeed i was like i just wanna do nails. Thank you i'm in love with Young nails i love your products. Just because all those youtube, instagram, facebook. I changed my products step by step into your products every month i spend on Young nails products till i have everything. And tis are high quality👌.

[@youngnailsinc]

Judi DIOS ty so much, we very much appreciate it. ❤️

[@rhondaguerra1236]

If your ever audited by IRS, its a red flag if you dont have a business account seperate from personal. You should be writting yourself a paycheck. Keeping in mind the cost of restocking supplies to support your business. Also, my advice is to separate the needs and wants when purchasing products. A portion of your income should be going back into your business, with rational thought going into the necessities.

[@PN-sk3ve]

Thank you for this video, I am sure that it has help a lot of nail techs.

[@4457kenyatta]

Omg this was a big help i have to save and which it over and over

[@youngnailsinc]

SO glad this helped!!

[@drewholt4573]

thank you guys i alway find you videos very interesting and helpful i used to own my own child care buisness when i had children of my own i loved it but now i want to change my career and train to become an nail technision as i love it x

[@youngnailsinc]

It is a great industry to be a part of!

[@lenniral.6582]

What about working from home, starting from cero, no clients at all

[@youngnailsinc]

It can be done, don't know that it would be a top recommendation just because it is hard to get exposure that way and when you are building exposure is such a huge factor

[@kristinebaker5477]

Thank you for sharing this information. 😍💜

[@youngnailsinc]

❤️❤️❤️

[@llhill7270]

Hello, can we do an OWC incorporating the business side as a majority? I loved your OWC I just attended 8/6-8/10.

[@yl6616]

If in the good nail salon,near me, they charge £65 for set, how much I have to charge as a very new in the business? And thank you guys! I already create a folder "Biz Talk" 😁❤️💅👑

[@youngnailsinc]

haha nice! A lot of things play a factor in setting your prices. Pricing in the area , quality of work. Set your base price maybe at like 50 or 60 starting out (always charging for additional services like art etc) then maybe increase by 5 once you start booking up.

[@yl6616]

YoungNailsInc Thank you! 👑

[@anareyes2977]

Love you're video's I all ways learn a lot from all of them. My question is do you think it is a good idea to just charge around 5.00 to 10.00 dollars why I get more skills. I am a cosmetologist student but love nails and learning to do them by watching KZbin videos. Thank you for you're time.

[@youngnailsinc]

for additional art? yes

[@anareyes2977]

No, it was ment for a full set or just the in fills sort of like a base and then add like 2 to 5 dollars as you add art and stones?

[@pamhutchinson6531]

I only use your products here in Australia I've been requesting a service cost sheet to compare with the one I'm trying to work out. other Australian suppliers have them. would you consider make one?

[@youngnailsinc]

like a price list? we have a how much series that goes into in depth pricing detail

[@pamhutchinson6531]

no like a service cost sheet. so roughly how much it costs per service using just your products. Planet nails and others do it here. It's something that made me consider changing products. But then I just did it. So exactly what this video talks about but offering it with your products. Also offering the msds with them would be great.

[@Killakitty81]

It would be awesome if young nails came out with a yearly biz talk book that went in depths with each video that was uploaded for that year. 😊

[@none38995]

Do you pay your self a hourly wage in top of the other cost you a counted for?

[@Aerogyrl2006]

I think ultimately what it comes down to is how much you want to make so that you can live the life that you want to live. I want to be able to put aside money for retirement. Hypothetically, if I want to take 4 vacations to Cancun in a year, how much do I need to charge in order to do so? The cost per service is really not a lot but we all do have living expenses and it kills me when I hear professionals who have been in the business for 20 years say they have never raised their prices. They are now scrambling trying to figure out how to make more money when they have kids that are going to be college students soon. WHAT?!?!?!?!?! Fear is what causes people to not raise their prices because their clients will go elsewhere. That is so far from the truth. Some will leave but they will be disappointed elsewhere and come back. Ever thought of that? I think it's a perfectly normal feeling to have because I have been there too but the thought of working for low pay for a long period of time is not my cup of tea. I guarantee you those clients will tell you, "It's about time." I'm not only charging for my years of experience but also the continuing education that I receive throughout the year. It's hard to look at what you love to do as a business but this is the only way that clients will take your business seriously if you do. Hobbies don't earn serious money. I believe that I can make 6 figures. I hope everybody else believes that, too!

[@youngnailsinc]

❤️❤️❤️

[@loveenalways]

I've missed y'all great videos 💋❤#imback

[@youngnailsinc]

❤❤

[@staciekaefer4893]

Does anyone factor in how much you'd pay in taxes per cost of service?