Business > Money Matters

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OPI Computes With Kids

November 1, 2004  | Article

What do you do when you’ve got 70 essays to read, all written by children in need of a computer? If you’re OPI president and CEO George Schaeffer, you’ll make sure every child gets one.

Keywords: children's services   computer systems  

Buying the Goods

October 1, 2004  | Article

Where do you buy your products and supplies and why? We posed this question to salon owners, employees, and booth renters to get a feel for the buying habits of nail professionals.

Keywords: product buying   salon management  

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  

As the Pendulum Swings

February 1, 2004  | Article

Booth renters gained a foothold more than two decades ago as salon owners sought to lower their overheads in the face of stiff competition. But today salon owners are finding that booth rental doesn’t allow adequate profitability and more are considering employee setups in their establishments. Is the pendulum swinging from self-employment to salon employment?

Keywords: booth rental  

Open Your Books For Retail Results

January 1, 2004  | Article

In a commission-based salon or spa, technicians sometimes assume the owner is banking the other half of their commission. Opening the salon’s books will open employees’ eyes to the vital need to retail for the salon’s survival.

Keywords: finding/retaining staff   organization   retailing  

Compensate Employees for Extra Holiday Hours

December 1, 2003  | Article

How can salon owners take the sting out of all those extra hours employees are asked to work in the weeks preceding Christmas?

Keywords: compensation systems   holidays   seasonal services  

Compensate Employees for Extra Holiday Hours

December 1, 2003  | Article

Shari Finger, veteran salon owner, details different types of incentive programs to keep employees' spirits up during the holidays.

Keywords: compensation systems   employee issues   holidays   incentive structures   Shari Finger  

Is Your Pay Structure The Problem?

November 1, 2003  | Article

How a salon chooses to pay its staff can make all the difference in employee retention, quality of service, profitability, and your ability to compete. After payroll, salon owners are often left only with their own tip money and revenue from services they've performed. Should you abandon the traditional commission structure for a pay system that rewards behaviors that are key to the salon's overall success?

Keywords: business   keeping your business competitive   money   service pricing   staff management  

Putting a Price Tag on No-Shows

September 1, 2003  | Article

Have you ever taken the time to figure out exactly how much your non-show are costing you in lost revenue?

Keywords: preventing no shows  

Sick of This? So Am I!

August 1, 2003  | Article

Our headline: “Sick of This? Fight Back With NAILS. Raise Your Education, Raise Your Prices” has riled some people. I’m delighted to hear that.

Keywords: As I See It   discount salons  

Profit at What Price?

April 1, 2003  | Article

Forget what your competitors are doing and what you think your clients will pay –the most important factor in pricing services is to ensure your salon is making, not losing, money.

Keywords: budgeting   money-savings ideas   raising prices  

It's Getting Hot In Here

November 1, 2002  | Article

A rash of salon fires reminds salon owners just how much they stand to lose. Knowing the potential fire dangers that exist in your salon and taking steps to curb them, as well as determining what your business is worth and getting good insurance coverage will help prevent a fire in your salon and minimize its effects should the worst come to pass.

Keywords: business tools   chemical safety   insurance   owner issues   salon safety  

Cut Your Cost to Boost Your Profits

October 1, 2002  | Article

As competition and tough economic times keep service prices flat, salon owners and booth renters need to look elsewhere to increase profits. Learn ways to cut your overhead costs — without sacrificing customer service.

Keywords: keeping your business competitive   salon finances   taxes  

Web Poll Results: We’re Givers

September 1, 2002  | Article

 80% of people in the nail industry donate items or services to charities at least once a year.

Keywords: charity  

Keeping A Watchful Eye

August 1, 2002  | Article

Investing in a security system for your salon can deter theft, provide protection for staff members and lower your insurance premiums.

Keywords: employee issues   insurance   owner issues   shoplifting  

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Market Research How big is the U.S. nail business? $7.3 billion. What's the average service price for a manicure? Dig into our decades' deep research archives.

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