Financial help?

[Ncragg]

Hi

I am wanting to set up my own nail bar in my sister in laws sunbed shop but ideally need a spare £1500 to get me up and started can anyone recommend a good company that offers business start up loans or something like this ? My credit isn't brilliant so this isn't helping and I've already tried to ask my parents for a loan but they can't help.

Thanks
Nat

 

[Beansy]

https://www.startuploans.co.uk/

Start Up Loans UK- government funded and you'll get a business mentor to support you

 

[Ncragg]

Thank you will have a look now x

 

[surf girl]

Why do you need so much? I started my nail station with a table from ikea for £25 borrowed 2 office chairs and had about 10 colours, each time a client had their nails done I bought another colour or 2 and grew my collection, I'd tell the clients the greater range of colours were on the way in the post point is if your credits not great do you really want to take out a loan?

 

[Ncragg]

I don't want to buy cheap as I believe if you buy cheap you buy twice and it's wasting money I haven't really got. I'd rather borrow the money and get myself set up properly. I use nsi polish pro which is £15 a bottle and to start with to build my client base I am only charging £10 for a basic gel polish kind of like an opening offer so would have to do 2 clients before I could buy just one new colour. I know if I went to a nail tech and she didn't have a lot of choice it would put me off and I don't want that to happen.

Ive sent an application of to start up loans and waiting for someone to contact me so fingers crossed

 

[Paige@TheClinik]

I don't want to buy cheap as I believe if you buy cheap you buy twice and it's wasting money I haven't really got. I'd rather borrow the money and get myself set up properly. I use nsi polish pro which is £15 a bottle and to start with to build my client base I am only charging £10 for a basic gel polish kind of like an opening offer so would have to do 2 clients before I could buy just one new colour. I know if I went to a nail tech and she didn't have a lot of choice it would put me off and I don't want that to happen.

Ive sent an application of to start up loans and waiting for someone to contact me so fingers crossed

Starting at £10 won't build your client base, it will attract one off clients that more than likely won't return when your prices go up.
I would only do an introductory offer of maybe £2-£3 off the treatment.
You will never pay your loan off at that rate you'll barely make any profit.
Xx

 

[FlawlessBeauty]

I agree that £10 is too low, you're selling yourself short. It might be better to charge £15 and implement a loyalty system, such as have 8 treatments and get the 9th half price.

Good luck x

 

[Ncragg]

Thank you I'm still struggling with the start up loan I'm really worried now but also been writing up a business plan and £10 does seem to low