Here's some helpful information that is written for those of you who plan on opening a nail salon equipment and supplies wholesale business. Read these tips before you start!
The nail salon industry is a growing segment of the health and beauty marketplace. According to some estimates, the industry grew by as much 4% during the economic downturn -- an impressive figure for a business many people would consider to be a non-essential service.
Nail salon wholesalers are reaping the benefits of two important growth trends. Not only is the industry growing in terms of the number of service providers in the marketplace, but the scope of the services offered by nail salons is also expanding. Today's salons offer luxurious manicures and pedicures as well as acrylic, gel and fiberglass nails. Airbrushing, soaks and other treatments are also gaining popularity with salon and spa providers.
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Aspiring nail salon equipment and supply wholesalers have to nurture relationships with salons and manufacturers. Before you invest in an initial inventory of supplies, visit industry tradeshows to scope out product lines and emerging trends in nail care. From there, you can begin to contact manufacturers about becoming an authorized distributor of foot tables, heaters, lotions, files, polishes, acrylics and other supplies.
The other side of the business involves developing relationships with nail salon owners and technicians. Nail technicians tend to be loyal to specific product lines, so initially you'll need to focus on salons that already use your product line.
It's unlikely that your startup will be able to compete on price, especially against larger wholesalers. However, startup wholesalers can often use superior service to steal salon clients from established supply and equipment providers. At the same time, it's important to create mechanisms to quickly engage new salon owners as they enter the market.
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You know that a business plan is important. The only problem is that you don't have any idea how to write one.
Fortunately, you don't have to tackle your nail salon equipment and supplies wholesale company's business plan by yourself. These days, there are tons of great resources and solutions available to support the business plan writing process.
Well in advance of opening a nail salon equipment and supplies wholesale business in your town, it's worthwhile to see what the competition looks like. Try our link below to generate a list of competitors in your city. After clicking on the link, type in your city, state and zip code to get a list of nail salon equipment and supplies wholesale businesses near you.
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Before you open up shop, make sure you know what you will offer to your customers that provides a significant advantage over your competition's offering.
After you've evaluated your local competitors, it's a wise move to learn as much as you can from somebody who is already in the business. It's very unlikely that the local competition will talk to you. It'd be crazy for them to teach you the business.
On the other hand, an individual who has a nail salon equipment and supplies wholesale business in a location that is not competitive to you may be willing to share their entrepreneurial wisdom with you, once they realize that you are not going to directly compete with them in their community. Many business owners are happy to give advice to new entrepreneurs In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
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How do you go about finding an entrepreneur who is running a nail salon equipment and supplies wholesale business in another city who you can speak with?
Although there are significant benefits to buying a nail salon equipment and supplies wholesale business (rather than launching a startup), it's important to weigh the pros and cons before you commit to a purchase scenario.
PROs: Acquired nail salon equipment and supplies wholesale businesses should be profitable right out of the gate; they should also be capable of demonstrating a loyal customer base, brand identity and operational efficiencies.
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DRAWBACKS: On the downside, nail salon equipment and supplies wholesale business acquisitions can be difficult to adapt to your unique business philosophy so it's important to make sure the business is capable of achieving your ownership goals before you initiate the buying process.
Your chances of achieving the entrepreneurial goal of growing your business are much better when you join the ranks of franchisees in lieu of doing everything yourself.
Prior to starting a nail salon equipment and supplies wholesale business, you ought to assess whether purchasing a franchise might simplify your entering the business.
Helpful Tips For When Buying Nail Salon Equipment & Supplies
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
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