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The Small Business Administration (SBA) has launched a first-of-its-kind tool on the federal agency’s website that allows entrepreneurs looking for a small business loan to get matched with an SBA lender.
Square — makers of the popular mobile credit card reader — recently launched a program called Square Capital that can help small businesses using Square get financing.
Milady’s Booth Renting 101: A Guide for the Independent Stylist is a must-have guide for booth renters looking to start and successfully run a booth rental business.
Before the ribbon cutting, before the first appointment is booked, and before the lights get turned on, you’ve got to find the financial muscle to make this dream come true.
Want to open a salon with a family member or bestie? Great! But first make sure you are fully prepared, from both legal and emotional standpoints.
“I wasn’t happy in the salon I worked in so every day I put $20 away and my step-sister Andrea Conde — a cosmetologist — also started to put $20 a day away,” says Christina Litster. “
We often hear stories from techs who credit their spouse for carrying the financial burden while they built their nail business. But what if that’s not an option?
With banks more reluctant than ever to lend to small businesses, salons must often look elsewhere for financing. There are several options available should your business fall outside the scope of traditional bank financing.
For some nail techs, the dedication in their nail services is fueled by the dream of one day opening a salon of their own. But it can take more than just perseverance and savings to get started. Procuring financing in today’s economy can test the wits of even the most business- savvy techs.
A financial advisor teaches you how to make the most of your hard-earned dollars. Her three-step plan requires you to commit to saving, make it a habit, and allocate wisely.
“Why give away your time for free when you can be charging for it?” asks Elaine Watson, Star Nails’ global education director and vice president of marketing and sales.
We know we should be saving for retirement — or taxes, or that vacation — but often we can’t seem to find a way. A free service called Auto-Save from Integrity Payment Systems automatically deducts a pre-determined amount each time a client pays with a credit card and deposits the amounts into an interest-bearing, no-minimum savings account.
Are you looking to make improvements to your salon, catch up on bills, or bring in inventory, but can’t get access to cash? Merchant Capital Source (MCS) provides working capital to salons that are either unable to obtain a traditional bank loan or have “maxed out” their available credit.
Shari Finger, owner of Finger’s Nail Studio, suggests cutting payroll hours, inventory, supplies, and insurance costs to make a dollar go farther.
Jennifer Perdue, owner of Details Nail Salon, offers tips on saving including having a "favorite recipe" party instead of taking the staff to a big, noisy restaurant.
Earlier this year, The American Recovery and Reinvestment Act of 2009 (Recovery Act) was signed into law by President Obama. It has the potential to have a significant impact on small businesses (like salons) by providing tax incentives and financing opportunities that will help small business owners create jobs. The idea is to make it easier for small businesses to get loans.
In tough times, little things count, and small efforts to save a bit of money here and there can add up over time. Every day there are opportunities to save, and it’s really easy to do once you identify where the waste is happening. From buying bulk sizes to shopping for furniture at a swap meet, these little things can make a difference in your budget.
