Starting new businesses from home is becoming a more popular way to generate income. If you have interest or experience in the nail industry, starting a nail business from home could be a viable option for you. As long as you have the right equipment, skills, and do enough planning, you don’t need a physical nail salon to offer your nail tech services.
Of course, starting a business from scratch is easier said than done. There are a lot of decisions to make before you start doing manicures. It’s important to consider the following if you’re thinking of running a nail business from home:
Analyze the Local Market
First you’ll need to do some research into the nail market in your area. Check out some popular local salons, see how their services are priced and the kind of equipment they use. What are their strengths, and what can you bring to the table that they can’t?
When starting a nail business from home, you’ll also need to determine what services you will offer. It’s important to offer what’s popular, but also have something unique to draw customers in. This also depends on your skill level and what you are comfortable with; there are a variety of nail services you can offer:
- Manicure / pedicure
- Standard nail polish
- Acrylics
- Gel
- Dip powder
- Fiberglass nail extensions
- Nail art
- Silk wraps
Stay in the Know
Of course, as an at-home nail tech, one of the best things you can do is stay educated and up-to-date on the nail industry. The nail industry in particular is saturated with techs who have been working at their practice for 8-10 years. This means that you need to offer a specialized skill, or a reason customers come to you instead of a local salon. In order to rise above the competition and be able to offer something other salons can’t, you’ll need to be aware of the latest technology and trends in the nail world. Attend workshops, seminars, and industry events to learn the best and newest techniques.
Business Permits and Licenses
When starting any business, you need to have the proper licensing. At-home businesses will have different regulations than a standard business, so be sure to do adequate research into the restrictions and requirements for at-home businesses in your state. Some states require specific parking permits or separate entrances for clients. You can call your state board of cosmetology for this kind of information.
Additionally, all nail technicians must have an up-to-date license when starting a nail business from home. This usually requires completing a nail technology course that covers topics like sanitation, personal hygiene, and nail care products. Your license can specialize in a certain service such as hand massage techniques or extensions.
Make a Financial Plan
Before investing any money into your business it’s important to make a financial outline to ensure you have the necessary capital to get your business up and running. This plan should include things like:
- Source of funding: How will you fund this business? Do you have any investors or sources of funding, or is the startup capital coming from your bank account?
- Permits and insurance: How much will it cost to license and insure your home-based business? You’ll need business insurance to cover equipment damage and personal injury. Liability insurance is also essential as it protects you from claims that your business caused bodily harm or property damage to third parties.
- Equipment: Create a list of all the equipment you need to run the business. This means everything from tables and chairs to sanitation products to the actual nail products themselves. Where will you get all of the required equipment? Find sources for the nail products you’ll need to buy on a recurring basis. It’s always a good idea to buy professional nail products in bulk to save money. Some nail brands like SNS Nails will sell directly to licensed technicians, saving you the additional markup of going through a distributor.
- Marketing: How are you going to market your business? Do you have a website and social media presence? Leave some financial headroom for marketing because your customer volume may not be what you expected.
- Service prices: What will you charge for each service? How many customers do you need per month in order to turn a profit? What services do you expect to be the most popular?
Calculate your total initial and recurring costs and your expected profits to make sure your business plan is viable. You’ll always need a little extra funding for unexpected expenses or slow months, so you can keep your business running even when things don’t go exactly as planned.
