Some questions to ask current nail franchise owners:

1. Ask how their profits are?

2. Are they happy with the franchise they chose?

3. What is the most difficult part of their job?

4. What was their first step in opening their shop?

The next step would be to request information from the nail franchise you are interested in to discover what their particular start up costs are and initial investment requirements (total investment can be $50,000 – $150,000 depending on the franchise and type of store).

All nail franchises require various capital investment amounts and have varying degrees of support. Analyzing all the information you can will give you a better idea of which nail franchise is best suited to fit your needs.

Can I own more than one nail franchise store?
Yes, generally you can own as many stores as you’d like in your territory providing you can meet the financial requirements.

How much does it cost to open an nail franchise?
Depending on the type of store (stand alone, storefront, etc.) you open and which franchise you choose, you’ll need somewhere between $75,000 to $200,000.

How quickly will it take to make a profit?
Your profits will depend on how well you run the business, how good your location is, and how well you manage your employees. There is no real way to average out how fast you will see a profit because it depends on the individual franchisee. Also due to franchising laws, nail franchises are unable to tell you how much you will make.

Do nail franchises offer financing?
Yes, they typically do offer some financing for the initial franchise fee. For the other costs, most nail franchises will connect you with a 3rd party lender.

Do most nail franchises offer training?
Yes. Most franchises offer in-depth training on running an nail business including marketing, budgeting, products, and other aspects of the nail business.

Can I sell my nail franchise?
Yes – typically you can sell your franchise to a person who is pre-approved by your franchisor. Be careful of fees assessed during this process.

Franchising is so popular because it allows entrepreneur to own and operate their own business, profit from the use of an established brand name, and benefit from a proven system of operations.

Important Franchise Facts:

• Franchise operations in the United States account for 42% of all retails sales.

• Retail sales for franchises are expected to reach $1 Trillion in Year 2000.

• According to the US Department of Commerce from 1971 to 1987, less than 5% of the franchise businesses were closed each year.

• Arthur Anderson & Company found in 1991, almost 86% of all franchises opened in the previous five years was still under the same ownership and 97% were still in business.

• According to statistics from the US Small Business Administration from 1978 to 1988, 62% of all non-franchised businesses closed within the first six years due to failure, bankruptcy, retirement, or other reasons.

• More than 8.5 million Americans are employed by franchised businesses.

Owning a nail franchise does provide guidance and support for the successful operation of your nail business. However, ultimately success is in the hands of the nail franchise owner him or herself. A nail franchise owner needs to have a solid business background or at least a good business sense.

Most franchises have refined their concept over many years and will insist on the new nail franchise owner’s strict adherence to their corporate policies. The nail franchises will provide you with in depth training to show you how they expect your nail shop to be run.

Financial Requirements
Some other requirements to owning a nail franchise cover the financial aspect. Some nail franchises require a net worth of $210,000 and a franchising fee of $25,000.

If you decide to open your own business, then you will need to determine what site selection criteria works best for your goals.However, if you decide to open a nail franchise, the franchise company will use their proven site selection system to ensure you get the best location.

The nail franchise will supply some key site selection factors your location should have such as:

• Area Demographics

• Population Density

• Traffic Statistics

• Parking Available

• Visibility of Site

• Desired Tenant Mix in Shopping Center

After you choose your location based on the franchise criteria, you will then have to gain final approval from your franchise team to ensure the location is up to par.

The costs for a franchise include:

• initial franchise fee
• lease hold improvements
• equipment
• furniture
• fixtures
• signage
• point of sale systems (computers and software)
• training
• insurance
• initial advertising and promotional expenses
• royalties

** Please note the figures above are only estimates and can range from franchise to franchise.