A nail spa business is a good venture that does not require much capital to start. it is, however, important to learn how to start and operate such a business.
How to Start and operate a Mobile Nail Spa
Nowadays people are so busy that they prefer having services done at the comfort of their homes. Amongst such services are manicures and pedicures. Having a mobile spa is one perfect idea. All you need are the equipment as I will breakdown for you below, the right team, and of course the right attitude towards your business. Below is a financial breakdown comprising of the operational costs, the products and services, and basically everything that you will require to run the mobile nail spa- Nail Ambulance.
Nail Ambulance Financial Statement Plan
(The currency is in Qatar Currency but you can convert it to your home country currency)
Introduction
Nail Ambulance is a full-service mobile nail spa that will be dedicated to providing high-end nail services to customers in the comfort of their homes. The business will aim at making sure that the customers are satisfied by offering them products of high quality and creating a conducive environment where they will enjoy the services. We will also uphold a friendly, rational, and inventive work setting, which respects an assortment of ideas, and hard work. Nail Ambulance will, upon initiation of work, offer a range of nail products and services. What will set Nail Ambulance ahead of the competition is our obligation to provide all of these services in the convenience of their homes. The mission of the company will be to offer the best nail services, with the aim of bringing out the natural beauty of the Qatar women as well as enhancing their physical relaxation through massages.
Product and Services
Our business will be known for offering serious certified nail services and products at any time of the week, from 8 am to 9 pm. This will also cover the working lady who is employed but has to rush home to tend to her family before nightfall. Below are some of the services that we shall offer:
• Pedicure
• Manicure
• Fixing artificial nails
• The selling of nail decorations and accessories.
• Hand and feet massages
The objectives of the business are:
• To offer grooming services to our clients in the comfort of their homes
• Provide the customers with a range of services and products that will keep them coming back
• To offer professional information on how they should take care of their nails.
• Be available at whatever time and place that the client wishes to have our services.
Income Statement
The income statement is based on some assumptions and approximations of values. Some of the assumptions taken in the development of the income statement are:
• Most women prefer the services done on them. Therefore the number of nail accessories sold are less than the services offered and therefore the variation in the figures.
• The charges for doing the nails as well as massages were based on the cost of acquiring them and the cost of fuel used to come to the clients. For instance, when calculation the amount of money to charge for a massage, the cost of products like the massage oil and massage bowls would be put into consideration when calculating the charges. The cost of the accessories will also be based on their buying price. For instance, a nail polish retailing at QAR 800 would be sold at QAR 1000
• The cost of nail accessories sold is approximated to account for 45% of the total sales and services. Nail Ambulance is set to spend a lot in the first three months, which will result in losses instead of profits. This because the idea of having a mobile nail spa is not common in the area, and getting people to trust our services might take a while. We will give the company some time to for the business to acquire a steady flow of clients therefor being in a position to cover up the initial starting expenses.
During the month of January, we estimated that we would attend to twenty clients on a daily basis, each paying a minimum of QAR 299 for the services. For a whole month, the amount would total to QAR 179,500. The sales of nail products were estimated to be QAR 80,775 which was 45% of the total sales.
The Gross Profit for the month of January is QAR 98,725. In every month of the year, a constant amount of expenses was expected which would be used for the smooth running of the business, and which would be expected to be QAR 49,200. Since we wish to experience a constant growth of the business across the year, we will invest a fixed amount that will see the business advertised across the whole year, irrespective of the time of the month. For a business to grow smoothly, a constant reminder of its existence would be a strong pillar, which explains the constant advertising all year long. Additionally, we aim to dedicate the first year to winning clients as well as retaining the existing ones.
Since we are planning on starting small and expanding later after the business picks up, the initial employees would be six. One that will oversee the selling of the products, three nail artists, and two for doing the massages. All the six employees will be paid on a monthly basis, and each will pocket QAR 5000. A total salary expense of QAR 30000 will be maintained constantly across the year. In order to uphold timely and effective delivery of services anytime during working hours, we will set apart QAR 15000 each month, across the year that will be for the purposes of fueling as well as maintaining the truck. The maintenance will comprise a gas, checking to ensure the engine works well, and graffiti (once in a while).
Some other miscellaneous costs like telephone, website maintenance, bank charges and utilities would also be incurred. Sometimes we would be required to call the clients for follow ups, and possibly book appointments. Since it will be a mobile spa, some clients will be required to visit our website and make appoints through the e-mail link. Constant maintenance of the website will, therefore, be an important element of the business. We do expect the charges to change across the year, depending on various seasons, so we will adjust them to makes sure they balance, and that the business will not deviate from the plan.
Nail Ambulance | |
| Start Up Costs | |
| (in QARs) | |
| Sources of Funds | |
| Personal savings | 20,000 |
| Bank Loan | 50,000 |
| Investor 1 | 45,000 |
| Total | 115,000 |
| Start Up Costs | |
| Capital Costs | |
| Land/Building Purchase | 0 |
| Computer Hardware | 10,000 |
| Computer Software | 2,000 |
| Leasehold Improvements | 0 |
| Office Furniture | 0 |
| Vehicle Purchases | 35,000 |
| Total Start-Up Capital Purchases | 47,000 |
| Start-Up Inventory | |
| Inventory | 40,000 |
| Total Start-Up Inventory | 40,000 |
| Operating Costs | |
| The business will start up by purchasing a second-hand car that would have a spacious boot that will be able to accommodate the most of the equipment. Since the car will purposely be for beautification purposes, it will be decorated with some colorful colors and paintings that will be appealing to the customers. The cost of acquiring a great second-hand car have been estimated at QAR 35000 inclusive of the paintings. Next, we will purchase two computers that will enable the company track all the bookings, maintain the business files and track the inventory. After the first purchase, the subsequent purchases would be made online which will be aided by the computers. These are estimated to be QAR 12000 (both the hardware’s and software). A good computer will be efficient in holding voluminous files, and also is not susceptible to breakage and thus the costs of maintaining it will be minimized. The overall sum of the startup cost accumulated to QAR 47000. How to Start and operate a Mobile Nail Spa Nowadays people are so busy that they prefer having services done at the comfort of their homes. Amongst such services are manicures and pedicures. Having a mobile spa is one perfect idea. All you need are the equipment as I will breakdown for you below, the right team, and of course the right attitude towards your business. Below is a financial breakdown comprising of the operational costs, the products and services, and basically everything that you will require to run the mobile nail spa- Nail Ambulance.Nail Ambulance Financial Statement Plan(The currency is in Qatar Currency but you can convert it to your home country currency)IntroductionNail Ambulance is a full-service mobile nail spa that will be dedicated to providing high-end nail services to customers in the comfort of their homes. The business will aim at making sure that the customers are satisfied by offering them products of high quality and creating a conducive environment where they will enjoy the services. We will also uphold a friendly, rational, and inventive work setting, which respects an assortment of ideas, and hard work. Nail Ambulance will, upon initiation of work, offer a range of nail products and services. What will set Nail Ambulance ahead of the competition is our obligation to provide all of these services in the convenience of their homes. The mission of the company will be to offer the best nail services, with the aim of bringing out the natural beauty of the Qatar women as well as enhancing their physical relaxation through massages. Product and ServicesOur business will be known for offering serious certified nail services and products at any time of the week, from 8 am to 9 pm. This will also cover the working lady who is employed but has to rush home to tend to her family before nightfall. Below are some of the services that we shall offer:• Pedicure• Manicure• Fixing artificial nails• The selling of nail decorations and accessories.• Hand and feet massagesThe objectives of the business are:• To offer grooming services to our clients in the comfort of their homes• Provide the customers with a range of services and products that will keep them coming back• To offer professional information on how they should take care of their nails.• Be available at whatever time and place that the client wishes to have our services. Income StatementThe income statement is based on some assumptions and approximations of values. Some of the assumptions taken in the development of the income statement are: • Most women prefer the services done on them. Therefore the number of nail accessories sold are less than the services offered and therefore the variation in the figures. • The charges for doing the nails as well as massages were based on the cost of acquiring them and the cost of fuel used to come to the clients. For instance, when calculation the amount of money to charge for a massage, the cost of products like the massage oil and massage bowls would be put into consideration when calculating the charges. The cost of the accessories will also be based on their buying price. For instance, a nail polish retailing at QAR 800 would be sold at QAR 1000 • The cost of nail accessories sold is approximated to account for 45% of the total sales and services. Nail Ambulance is set to spend a lot in the first three months, which will result in losses instead of profits. This because the idea of having a mobile nail spa is not common in the area, and getting people to trust our services might take a while. We will give the company some time to for the business to acquire a steady flow of clients therefor being in a position to cover up the initial starting expenses.During the month of January, we estimated that we would attend to twenty clients on a daily basis, each paying a minimum of QAR 299 for the services. For a whole month, the amount would total to QAR 179,500. The sales of nail products were estimated to be QAR 80,775 which was 45% of the total sales. The Gross Profit for the month of January is QAR 98,725. In every month of the year, a constant amount of expenses was expected which would be used for the smooth running of the business, and which would be expected to be QAR 49,200. Since we wish to experience a constant growth of the business across the year, we will invest a fixed amount that will see the business advertised across the whole year, irrespective of the time of the month. For a business to grow smoothly, a constant reminder of its existence would be a strong pillar, which explains the constant advertising all year long. Additionally, we aim to dedicate the first year to winning clients as well as retaining the existing ones. Since we are planning on starting small and expanding later after the business picks up, the initial employees would be six. One that will oversee the selling of the products, three nail artists, and two for doing the massages. All the six employees will be paid on a monthly basis, and each will pocket QAR 5000. A total salary expense of QAR 30000 will be maintained constantly across the year. In order to uphold timely and effective delivery of services anytime during working hours, we will set apart QAR 15000 each month, across the year that will be for the purposes of fueling as well as maintaining the truck. The maintenance will comprise a gas, checking to ensure the engine works well, and graffiti (once in a while). Some other miscellaneous costs like telephone, website maintenance, bank charges and utilities would also be incurred. Sometimes we would be required to call the clients for follow ups, and possibly book appointments. Since it will be a mobile spa, some clients will be required to visit our website and make appoints through the e-mail link. Constant maintenance of the website will, therefore, be an important element of the business. We do expect the charges to change across the year, depending on various seasons, so we will adjust them to makes sure they balance, and that the business will not deviate from the plan. Startup CostNail AmbulanceStart Up Costs(in QARs) Sources of FundsPersonal savings 20,000Bank Loan 50,000Investor 1 45,000Total 115,000 Start Up CostsCapital CostsLand/Building Purchase 0Computer Hardware 10,000Computer Software 2,000Leasehold Improvements 0Office Furniture 0Vehicle Purchases 35,000 Total Start-Up Capital Purchases 47,000Start-Up InventoryInventory 40,000 Total Start-Up Inventory 40,000Operating CostsAdvertising 1,500Company Registration Cost 9,000Insurance 5,000Marketing or Sales Tools 0Business Supplies 700Professional Fees 2,000Training 0 Web Site Development 4,000Total Start-Up Operating Costs 22,200 Total Start-Up Costs 109,200 | |