Salon Finance
A crash course on the important things to consider, and common mistakes to avoid, when it comes to money flowing in and out of your business
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Holly recommends buying one tool at a time until you have enough for a full day of services. CJ's Centre for Beauty is offering a file buy back offer until October 31.
While you may hopefully be bringing in some extra income from holiday clients or thoughtful tipping, it’s a good time to stash a bit away to invest in yourself.
Personal finance app Level Money has introduced a flexible money management system to help users with almost any income or expense pattern.
You’re probably used to performing a number of nail repairs in a day, but there are other simple fixes you can take care of in the salon as well. A good way to save money and learn more about the products you’re using is to see if there are resources available to help you make quick repairs on your own.
At Royal Beauty Careers in South Houston, Texas, pupils take a hard 3-D look at what goes into opening a nail salon.
Sell one more bottle of polish each day. If you sell one $10 bottle of polish you should make $5 net profit on it, adding up to an extra $1,800 a year.
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.
Salon owners can reduce costs by limiting the number of product lines and distributors they use. Smart inventory controls also boost your bottom line.
While promotion may sound costly, Derek Crowe says that budget is the last aspect of a campaign salon owners should address.
Don’t leave your future to fate! To see what financial planning can mean to you, look at our real-life examples. In just one year, these salon professionals have reduced their debts, increased their income, and gained control over their financial future.
Start by raising prices, then follow by reducing expenses, continuing your education, and managing your time. Then watch your income grow.
At their midyear checkup, our salon professionals have gained control of their finances and focused on reducing their debts and putting their money to work for them.
In this first of a year-long series, NAILS, with the help of a certified financial planner, helps salon professionals over-haul their finances to meet their short-and long-term goals.
A grand opening doesn't mean starting out with a deficit. Here,we go over how to make your opening successful and budget-friendly.