Insider Secrets: Starting and Succeeding in the Nail Salon Industry

In this interview, we delve into the journey of Ra’eesha Brown, the driven and passionate individual behind Klawz Salon Studio located in Media, Pennsylvania. With a determination to create a thriving nail salon business, Ra’eesha shares invaluable insights and experiences that can serve as a guiding light for aspiring salon owners.

Key Takeaways:

Bookkeeping and Expense Tracking: Ra’eesha Brown emphasizes the importance of meticulous bookkeeping and expense tracking, especially for a budding business like Klawz Salon Studio. She highlights the significance of researching and educating oneself on effective methods before investing in software. As she wisely points out, “it’s not necessary to pay $300 a month for QuickBooks if you’re just starting out.” By following her advice and utilizing available resources like YouTube tutorials and templates, new salon owners can streamline their financial management from the outset.

Quote: “Start the bookkeeping sooner than later so that you don’t miss anything or mess anything up.”

Operating Agreement and Legal Considerations: Ra’eesha acknowledges the significance of having an operating agreement and highlights the availability of templates tailored to specific states. She encourages entrepreneurs to search for these templates online and customize them according to their business needs. This attention to legal and operational details sets a strong foundation for Klawz Salon Studio’s long-term success.

Quote: “You can get a template offline for your state and look at the one that works best for you.”

While there is a free template for just about every situation a business may face, I do want to caution that there are many situations where free may cost you a lot of money down the road. Paying an attorney to help worth considering in many situations.

Tracking Expenses and Deductions: With reference to the Schedule C tax form from the IRS, Ra’eesha sheds light on the categories of expenses that can be deducted. She stresses the significance of maintaining accurate expense records and suggests using Excel spreadsheets to track and calculate monthly expenses. By applying these principles, entrepreneurs can optimize tax deductions and save money.

Quote: “When you do your bookkeeping… it’ll tell you all the things you are allowed to deduct… make sure you have an Excel spreadsheet and track all these categories.”

Employee Hiring and Onboarding Process: Ra’eesha shares her well-structured approach to employee hiring, beginning with a phone interview and a subsequent demo day instead of traditional in-person interviews. She emphasizes streamlining the process to save time and provides clear instructions to potential candidates. The goal is to have an employee handbook, application process, and onboarding procedures in place before hiring employees, fostering a positive work environment.

Quote: “Let’s save on guests, let’s save our time… have the interview over the phone… then email them after the phone interview with instructions on the demo day.”

Applying the Insights

Aspiring salon owners can draw inspiration and practical guidance from Ra’eesha Brown’s journey. The following actionable steps can help individuals starting their own nail salon:

Research and Learn: Dedicate time to research bookkeeping, expense tracking, and legal requirements specific to your state. Leverage available resources, including YouTube tutorials and templates, to gain a comprehensive understanding of essential processes.

Create an Operating Agreement: Look for templates online that suit your state’s requirements and customize them to fit your business needs. Establishing a solid operating agreement ensures clarity and sets a strong foundation for your salon.

Prioritize Employee Handbooks: Develop an employee handbook that outlines roles, responsibilities, and expectations. This helps foster a positive work environment and ensures a smooth transition for new hires.

Track Expenses Efficiently: Implement a system, such as Excel spreadsheets, to track and categorize your expenses. Stay organized to optimize deductions during tax season. Another low-cost option is to use low-cost accounting software like Wave.

Streamline Hiring Process: Consider conducting initial phone interviews followed by a demo day to save time and resources. Clearly communicate instructions to potential candidates to ensure a smooth and efficient hiring process.

By leveraging Ra’eesha Brown’s experiences and insights, aspiring salon owners can navigate the nail salon industry with confidence, setting a solid foundation for their own business endeavors.

Learn more about Klawz Salon Studio at their website.