Nail Salon Owner's Salary
Growth Trends for Related Jobs
The U.S. total salon business is a $56 billion industry with 300,000 plus locations. Additionally there are thousands of locations that are strictly nail salons. The 2010 Statistics from the U.S. Bureau of Labor Statistics (BLS) list 51,990 employees claiming income as manicurists and pedicurists, not including self-employed workers. Even in a challenging economy, there is strong demand. Salon owners are beginning to benefit.
The 2010 BLS cites the average income for an owner of a nail salon as $40,580. Being self-employed, there are typically no benefits provided unless through a trade association. This income is usually made up of either space rental for self-employed nail technicians or standard store revenue through the use of employees.
The job outlook is above the national average of occupations. Expected growth in the industry is between 14 and 19 percent between 2008 and 2018.. As a luxury item, growth may increase even more as the global economic slowdown begins to improve. Government regulation of chemicals, increased taxes and healthcare costs are a concern in this industry.
A nail salon owner's work environment is similar to that of most retail store owners. Such tasks as maintenance, bookkeeping, training, loss prevention and customer service are performed by the salon owner. Potential salary improvements for a salon owner will come as the salon expands and adds product lines to the store offering. Adding more tasks to the owner's work environment necessitates more employees to accomplish goals.
Experience and Education
Experience and education for nail salon employees comes mainly through manicure and pedicure training. Beauty schools offer classes and certifications in this field. Store owners benefit from a highly trained staff; as more variety of nail services are available, the store can generate more revenue.
A nail salon owner can often increase her income by diversifying the variety of beauty-related serves she offers. Some shops will increase their retail product mix to include a more diverse beauty product mix. Many salons offer spa services, tanning and hair styling to increase revenue. Some cross-market their products with wedding planners, tuxedo shops and other salons not offering a similar service.