Business > Money Matters

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The Professional Beauty Association Secures Major Victory with Small Business Administration

October 1, 2007  | News

In a major victory for the Professional Beauty Administration (PBA) and the salon industry, the Small Business Administration (SBA) recently issued a ruling that preserves the small business designation for hundreds of salon/spa businesses nationwide.

Keywords: business   Professional Beauty Association   taxes  

10 Ideas For Handling Rapid Expansion

October 1, 2007  | Article

This is what you’ve been waiting for. You have a full book and clients waiting. So, what’s the problem? The problem is you need more space for nail tables, a way to manage a heavier workload, and capital to fund the expansion. Fortunately, solutions are near at hand.

Keywords: business   business building   consultants   keeping your business competitive   staff management  

When the Economy Slows, Smart Salons Adapt

June 1, 2007  | Article

While the thought of an economic slowdown — or other financial challenge — can be scary, it can also be the catalyst for change. Take heart and learn from the struggles and strategies of two business owners who came out on top.

Keywords: customer service   economy   money   natural disasters   taxes  

DSA, IMSA Offer New Insurance Plan to Members

December 12, 2006  | News

The Day Spa Association (DCA) and the International Medical Spa Association (IMSA) announced that members of both organizations can now be covered by a single group policy.

Keywords: insurance  

Yes, You Can Retire!

December 1, 2006  | Article

Sixty-five: It’s the age you’ll be when you can finally take advantage of those senior-citizen discounts at the movies. (Woohoo!) And if you plan right, the discount matinee won’t be the only great thing about your golden years — you can also get the relaxing retirement you deserve.

Keywords: finance   retirement  

When Bad Things Happen to Good People

August 1, 2006  | Article

No one wants to believe they will fall victim to an accident or illness that prevents them from earning an income for a long period of time, but statistics show it will happen to three in 10 of us. Disability insurance protects your most valuable asset — your ability to earn an income and provide for yourself and your family.

Keywords: employee issues   insurance   owner issues  

Re-Energize Your Schedule

July 1, 2006  | Article

By analyzing her workload and employing smarter scheduling, nail tech Heather Goodwin managed to work fewer hours and still increase her income by $25,000 a year. Learn her strategies to maximize your schedule and create the career you want.

Keywords: business building   service pricing  

Insuring Your Salon's Future

June 1, 2006  | Article

Nobody likes to think of worst-case scenarios — like coming face to face with a lawsuit. But in the real world, things do go wrong, and nail salons are at risk of being named in a customer’s lawsuit. Unless you can afford to lose your salon and all that you’ve worked hard for, you can’t afford to be without professional liability insurance.

Keywords: business tools   insurance   salon furnishings  

Keep the Momentum Flowing

April 1, 2006  | Article

You love being a nail tech and are happy with your career choice, but how do you keep the momentum building and avoid the proverbial rut? Knowing what motivates you, creating a positive work environment, and communicating with team member are just a few ways to ensure you don’t hit too many bumps along the way.

Keywords: business   finding a job   work life balance  

Where Have All the Profits Gone?

March 1, 2006  | Article

As a salon owner or manager you may struggle with one question daily: Where does all the money go? You generate plenty of income in services and retail sales, yet there is little left to show for it at the end of the month. To regain control of your profitability, learn about the six profit points that make or break a salon.

Keywords: business   marketing/promotions   service pricing  

Breaking Through the Gas Ceiling

February 1, 2006  | Article

Gas prices exploded last year. Everyone — salon owners, booth renters, manufacturers, and distributors — has been affected differently by the surge. Some of the effects, like customers cutting corners, are expected; others, like taking more time for services, are not.

Keywords: economy  

Lower Your Commissions or Go Out of Business

February 1, 2006  | Article

If you are paying your salon employees a commission of more than 50%, chances are you are losing money. Learn how to modify your commission structure to motivate employees and ensure a profitable business.

Keywords: commissions   employee issues   independent contractors   salon finances  

Top Dollar Techs

March 1, 2005  | Article

They charge almost double the average price for a set of nails and their appointment books are so full they turn away clients. What is it that allows these techs to command such a high fee, and how can their advice impact your bottom line?

Keywords: service pricing  

Contract Labor, Booth Renter, or Employee — What Are They Really?

March 1, 2005  | Article

If they were audited, a large percentage of the salon owners in the beauty industry today could not pass the tests determining their workers’ tax status imposed by the IRS or by their individual state, says our expert. As tax time approaches, know the facts. The financial fall-out from misclassifying your staff can be devastating.

Keywords: booth rental   employee issues   independent contractors   IRS   taxes  

Time to Up the Ante

March 1, 2004  | Article

Is your salon ready to raise prices? Getting clients to accept a price increase gracefully depends largely on how it is presented to them.

Keywords: service pricing  

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VietSALON

The U.S. Vietnamese salon industry represents more than half of all salons. VietSALON serves this market with a bi-monthly Vietnamese language print magazine and a community-oriented website.

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