Business > Money Matters

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How to Determine the Value of Your Business

January 1, 2005  | Article

Keywords: selling a business   valuing your business  

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: charity   George Schaeffer   OPI Products  

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  

Fill Price Depends on Frequency

September 1, 2004  | Article

Nail tech Holly Schippers came up with a pricing plan that helps clients take better care of their nails and allows her to charge the right price for the right service time. 

Keywords: Holly Schippers   nail salon service pricing   service pricing   tiered pricing  

Limit One Carry-On

July 1, 2004  | Article

Some techs have horror stories about taking product onto airplanes. Others have great luck. But if you do your homework, you don't have to leave the safety of your tool kit to chance.

Keywords: INM   OPI Products   traveling with nail products  

You Do the Math

March 1, 2004  | Article

Depending on whom you ask, there are either somewhere around 350,000 nail techs in the United States or 31,000 or 160,450. Which is correct? It depends on who you ask.

Keywords: Bureau of Labor Statistics   nail licensing   size of the nail industry  

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: no-shows   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  

Keep Your Delusions Alive

May 1, 2003  | Article

Although there are nail technicians who tell us business has been hurt by the sluggish economy and fears of war, most tell us that things are good.

Keywords: keeping your business competitive   recession  

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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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