You’ve come to the right place to create your business plan.
We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their nail salons.
The links below provide an example of each essential component of a business plan for a nail salon:
Next Section: Executive Summary >
A business plan is a plan to start and/or grow your salon. Among other things, it outlines your business concept, provides market research about the nail salon industry trends, identifies your target customers, presents your marketing plan and details your financial plan.
There are many types of salons depending on the beauty and nail services offered. Traditional nail salons are the most common, focusing on manicures, pedicures, and treating and painting nails. There are also other salons that offer more comprehensive services including waxing and massages.
The primary source of revenue for nail salon businesses are its service fees. Some salons also gain revenue from sale of nail care products.
The key expenses for salons are rent, salaries for salon owners and nail technicians, and supplies expenses.
Salons are typically funded through small business loans, personal savings, credit card financing and/or angel investors. In order to secure funding you will need a solid business plan for a nail salon.
A great business plan gets the reader excited about your business and encourages them to take the actions you want them to take. In many cases, that action is for them to write you a check to fund your nail salon.
In order to achieve this, start with a compelling executive summary. In the summary, clearly explain why your nail salon is or will be successful. Do members of your team have lots of experience in nail salons? Do you have clients from other nail salons that you will bring to your business? Do you have a large social media presence you can leverage to get new clients?
Think about why your nail salon is going to be successful and clearly document this in your summary. Also, be sure to include the other key business plan elements like your customer analysis (describing the demographics of your target market), your competitive analysis (detailing your competitors and how you’re unique) and your marketing plan (the marketing strategies for how you will attract new clients). Do this and you’ll have a great plan that reflects your salon and attracts readers to help you succeed.
Starting your own nail salon business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Nail Salon Business Plan - The first step in starting a business is to create a detailed business plan for your nail salon that outlines all aspects of the venture. Your nail salon business plan should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your nail salon business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your nail salon business is in compliance with local laws.
3. Register Your Nail Salon Business - Once you have chosen a legal structure, the next step is to register your nail salon business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your nail salon business, so a detailed nail salon financial plan is key. After completing this, take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Nail Salon Equipment & Supplies - In order to start your nail salon business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your nail salon business. Your nail salon marketing plan includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful nail salon business:
You can download our sample nail salon business plan PDF template here. This is a business plan template you can use in PDF format.