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and Cons of Self-Employment in the Nail Industry — Origins of Beauty, Spa & Salon
Let’s take a second to discuss drawbacks:
As a self-employed individual you will be responsible for all areas of finance including your monthly rent, utilities, taxes, products, supplies, furniture and all costs of running the day-to-day operations of your business. Therefore these expenses can get extremely high. Alongside that, you can’t forget about the inevitable start-up costs of renovations, large equipment costs and other variables that will directly impact the early stages of your business.
But where is this money coming from?
If you’ve been planning for self-employment, such as I did, then you will likely have a bank of savings, however, this will quickly be depleted in the start-up stages of your business. For example, $500 of my savings were spent on updating my salon floor, an additional $400 was spent on paint and an additional $1000 was spent on large equipment (such as my pedicure set-up, desks, chairs, etc).
But for those of you who don’t have this backing, you will likely need to seek a loan from a financial institution and will need to keep in mind the additional interest and time it will require to pay this back. Thus, factoring into a higher monthly expense.
In order to accomplish success in any industry you need to be willing to put in the work. The nail industry – and entire beauty industry – is no different. But first you need to determine your success! Is your definition of success earning $40,000 per year? Or how about servicing 1,000 clients annually? Or maybe your definition of success is buying a $1-million dollar home within your first 10-years of business.
At the end of the day, no matter your definition, you are going to need to work hard to accomplish it.
You are going to need to put in 10+ hour days of client services and then additional hours in the office finalizing paperwork, planning for the near future, actively creating social media content and so many more tasks that keep our business running behind-the-scenes.
Alongside that, self-employed individuals need to dedicated, driven and passionate about their industry and their business to ensure they maintain a healthy work life balance and remain consistent to achieve their ultimate success.
Self-employed individuals can make large amounts of money – something we’ll be discussing later in this post – but this money is never consistent nor are we provided income stability from month to month. Our income levels depend on how hard we are wanting to work, how many long hours we are wanting to pull, and the overall quality of what we offer.
And then we can’t forget about the seasonal changes, Holidays and special events that will increase or decrease our schedules and thus, flex our income.
For example, December is one of the busiest months in any salon and within my business it tends to double my monthly income from previous months. But then January comes, where everyone is wanting to be a little bit more budget continuous and my income takes a dip.
You need to be prepared.
What if all of a sudden the end of January comes and you realize you can’t pay your February rent?
That’s why I immediately recommend that all those individuals engaged in self-employment set-up a savings system. For example, a percentage of my income remains in my bank account allowing me to utilize this for bill payments, product purchases and a portion to my own personal expenses. The additional percentage immediately gets saved for those unexpected emergencies.
Expect the Unexpected
Speaking of emergencies, self-employment comes with the fear of one-day being unable to work due to illness, injury, family emergencies or a variety of external factors. In 2018, this was a major medical illness I suffered in September that unfortunately kept me unable to work for approximately 4-weeks and with a long ease back period.
Of course, this made a huge dent in my income but also caused all aspects of my business that I had worked so hard to build to crumble. My social media become completely barren, as I was unable to provide the high-quality content I did prior to my illness and sadly, some of my clients decided to go have their services done elsewhere.
This is reality when all of a sudden you aren’t available!
But while all of that might seem scary, there are some huge advantages to being self-employed:
You’re in Charge
Every aspect of your business is solely in your hands.
That means you get to set the pricing for your services, set your own schedule, purchase your own products, create your own procedures and establish your own policies. And most importantly you have complete control over the growth of your business and the reputation behind your brand – your brand helps identify and differentiate you from others in your market.
While this might sound like best part of your job.
It can actually be the most stressful. You are forever questioning if you are getting things right or if you should try something else. But you have the complete control to do all of this within your own business.
With the ability to control all aspects of your business, means that you will also have the ability to be flexible. But you can’t just think of this in terms of your schedule. While, yes, it might be nice to book a two-week vacation or take a few long weekends throughout the year, you need to utilize the flexibility you have within your schedule carefully.
But its not just your schedule that will provide you with this flexibility.
You will also have the flexibility to incorporate new products, techniques, and application methods into your various services only enhancing your quality and allowing you to successful grow your business and meet the needs of your clientele.
Each self-employed individual dreams of growing their business either through their monthly income, the number of clients they service or by accomplishing goals they’ve set out for themselves. And thankfully we have the opportunity to invest in countless expansion opportunities to grow our business.
For those self-employed individuals looking to grow their overall business, the most common growth opportunity is by providing additional space for other self-employed individuals in the beauty industry to rent – often referred to as booth rental.
However, for those looking to expand their own business, the easiest method is by introducing new services related to their current career path – for example, if you are a Nail Technician who performs manicures and pedicures then enhancement based services might be an excellent addition. Or if you already have a full list of like services you can consider adding additional complimentary services such as hair removal or lash extensions to your menu offering.
Its an extremely eye-opening experience to be self-employed. It provides you with the opportunity to connect with small businesses, community members and of course, your clients. And furthermore, it gives you the opportunity to continuously develop these relationship.
It has been very rewarding to experience women of all walks of life within my salon and know that I am providing them with a high-quality service that helps in elevating their relaxation or self-esteem. And while I always recommend establishing a boundary between your personal and professional life, it sometimes happens when a client slips in and quickly becomes your friend. I’ve been thankful to meet some of my best friends through my business and these women have had such huge impacts on not only my business but my life.
Self-employment certainly isn’t for everyone but if any of these points excite you, then it might be worth considering. Of course, self-employment includes much more than what is written in this post including late nights, early mornings, business meetings, compromise, sacrifice, and so much more.
It’s my hope that this post provides you a base line of what the extremes of self-employment can entail. And that those already self-employed are already sitting with a piece of paper reflecting on their pros and cons to help determine how they can only enhance their businesses.
Let me know in the comments below if you are self-employed or if you’re consider self-employment.
Extra Information About self-employed nail technician salary That You May Find Interested
If the information we provide above is not enough, you may find more below here.
The Pros and Cons of Self-Employment in the Nail Industry
Nail Technician Salary – Cosmetology License
Salary: Nail Technician (November, 2022) – Glassdoor
6 Ways to Make More Money as a Nail Tech – StyleSeat
Nail Technician Career: Salary, Outlook (& 80+ Things More)
Nail Technician Salary in Wichita, KS
How Much Can I Earn As A Nail Technician? | NimbleFins
Frequently Asked Questions About self-employed nail technician salary
If you have questions that need to be answered about the topic self-employed nail technician salary, then this section may help you solve it.
Where are nail technicians paid the most?
Detailed State-by-State Salary List for Nail Technicians
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What drawbacks are there to working as a nail technician?
Cons of Working as a Nail Technician
- You May Get Tired of the Constant Fumes. …
- You Will Occasionally Deal With Difficult Clients. …
- You Might Need to Do Your Own Marketing. …
- You Could Have to Work Nights or Weekends. …
- You Can Get Frustrated With Having Limited Skills. …
- You Are at Higher Risk for Arm and Shoulder Pain.
Are nail technicians worth it?
It’s important to keep in mind that b>nail specialists have unlimited income potential, depending on how much they’re willing to work,/b> and that there are plenty of other reasons why being a manicurist and pedicurist is such a great career choice.
What do independent nail technicians in the UK make?
Salary of a Self-Employed Nail Technician On average, a self-employed nail technician can earn between b>£100 and £400 a day, or b>26,000 and £104,000 a year, before taxes.
What is the lowest nail technician salary?
The majority of NAIL Technician salaries currently range between 6,000 (25th percentile) and 1,500 (75th percentile), with top earners (90th percentile) making 4,500 annually across the United States, despite the fact that ZipRecruiter is seeing annual salaries as high as 5,000 and as low as 5,500.
How can I start my own business as a nail technician?
A recognized certification, such as the VTCT Level 3 Diploma in Nail Technology, is required to become a fully qualified nail technician and will ensure you employment, whether it be in a salon or as a freelance nail technician since it is fully insurable and acknowledged by the UK government.
Can you support yourself as a nail technician?
Professional nail care services can be a lucrative business, and a good, licensed nail technician knows exactly what to do to provide personalized services for their clients. Between cleaning, filing, trimming, polishing, and repairing, there’s a lot that goes into perfecting the art of those perfect nails and toenails.
Without a license, can you do nails in the UK?
While you could theoretically be a self-taught nail technician, it is not advised because you will need insurance and many providers do require proof of qualifications in order to cover you. In the UK, there is no specific qualification you need to take in order to start a nail business.
What is the monthly wage of a nail technician?
Monthly average: R 22 707.
Is opening a nail salon a smart business move?
Highly Profitablebr> br> For example, the average profits which the nail business would make in a year are 0,00, which is a great investment, the nail salon business can be a very profitable business if they rent out space to the nail technicians and can make some good profits each month.