Nail Salon Market Research and Industry Outlook

nail polish bottles in a nail salon
Whether you're opening a nail salon business and need to write a nail salon business plan, or are interested in the industry's financial performance, you've come to the right place. We've compiled and analyzed all the key facts, data, and statistics you need: market size, market forecast, state level market distribution, useful financial metrics, key ratios, and a list of the major beauty salons in the US.

How to Open a Financially Successful Nail Salon

In order to be successful, all businesses in any industry will need to keep on top of current industry trends and market conditions. This is especially true for companies in any field dealing with beauty or fashion. For nail salons, business trends can change so quickly that anyone who falls behind may never get the chance to catch back up. To learn about the economic conditions for the nail salon industry, just order our market research report. It has all the important figures and forecasts you need to know before you open your new salon. As for what colors customers will want their nails to be painted, well, that's harder to predict.

Current Trends: What Customers Want

The newest must-have item for any nail artist is GELISH hard gel. It's the most advanced form of artificial nails on the market, and consumers love them. As for polish, summer colors are trending right now. Bright shades that stand out will be in demand. The Splatter is a new painting technique. Using two corresponding colors, it's easy to create a look like melted ice cream.

nail sign

Opening A Salon: The Essentials

There are a few important things to know before opening a new nail salon. There are regulatory codes and standards one must abide by. This is due to the fact that toxic chemicals are found in the products used at any nail salon. The rules vary from state to state, so it's a good idea to get familiar with the legislation regarding the salon business in your area. It's also important to ask yourself a few simple questions first. Many people look at the big picture so long that they fail to see the most important small details. For example, do you consider yourself to be a people person? Are you self-disciplined enough to fulfill the commitment you will be making? A salon is a big investment, so it's important to be committed to it.

Advertising Basics: Get Your Name Out There

With the current technological advances, it's easier than ever to advertise your business. But creating an ad that garners new leads can be a bit more challenging. Successful promotion requires serious thought about what the goals are for the business, and many salons are finding their advertising efforts are more successful when a business plan is considered. Reactionary advertising can be the result of failing to have a solid plan of action. Reactionary advertising is never a good idea and the best way to avoid it is by including advertising in your budget plan.

There are a few avenues a salon owner could take in his or her advertising. Online advertising costs less than any other form and can be an effective tool. However, advertising online typically won't show any increase in sales right away, as it is an evolutionary advertising platform. Another option is to purchase space in a publication. A good place to start would be a local newspaper or mailer. Print advertising is effective, but it is also the most costly form of marketing.

Staying in Business: What Can You Do?

There is no fool-proof formula that will ensure the financial success of a nail salon. Not being able to maintain a large enough customer base is the main reason salons fail. So, as in any industry catering to the public, customer service is key. A warm, friendly atmosphere throughout the shop will attract more people. Fun conversation that is polite and mature will keep people coming back. Some salons, unfortunately, just can't compete in an industry with so many players.

© 2015 Salon Business