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Need some help & advice for a new business please

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MrsO

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Hello ladies, I'm a newby on here. I'm thinking of training in either Bio Sculpture or Calgel. First question is what are your experiences with either/both? I have always had bio on my own nails, and I love it but from what I've been told the products are expensive so the profit margins are smaller, also there are 4 Bio Tech's in my area but all are very busy?
Next thing is the name of my new business, what are your thoughts on 'Nail Envy'? There isn't one anywhere near myself so I'm safe there.
And lastly what do I need to do to set up with regards to insurance(I will be mobile and at home in a room), planning permission(do I need this as I wont be changing anything) and the dreaded tax man?

Any help would be greatly appreciated. Thanks for reading.x
 

PamieD

learnelectrolysis.co.uk
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I would personally recommend doing a full nail tech course, then you're not tied down to any one system and can pick and choose once you're qualified. You also will have a better choice of insurance, which you can get from any insurer or from salon insurance specialists (just tell them where you'll be working, or get a generic package). It's best to read through HMRC's website for newly self employed people, but honestly it so straightforward to do the books for one person. I'm guessing you'll be a sole trader so just open a bank account, let HMRC know when you set up, record everything going in and out and then follow their instructions for filling in a self assessment declaration.

But if you do want to train just with BioS or Calgel, well really it'll depend on which you think will be more successful in your locality. And profit margins depend on what you charge minus your overheads, so perhaps the people you spoke to are undercharging?
 

squidgernetball

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Just to add. Just because no one in your area is called Nail Envy doesn't mean you're safe. You would probably be fine but if someone has registered the name at the IPO, they can actually stop you trading. Don't think that because it's just you, or that your a small business, it'll be fine, because it might not.

Many therapists use the word "Beautique" which is actually trademarked. The owner of the tm decided to flex his muscles and many therapists - some home salons - were sent cease and desist letters stopping them from using this word. That meant new printing, new name, new everything!

You could use it and you could be fine but it's nothing to do with what's happening locally.

Vic x
 

ProBeautyDir

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Hi
We offer a great policy at a very competitive price that would be perfect for working from home. You can give us a call on 0345 605 8670 or go online for a quote and choose the policy for the self employed individual.
Kind regards,
The Professional Beauty Team
 

MrsO

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Thank you all for your help so far.
I have checked the name under the 'Companies House Register' and there are no concerns there. I just wanted to know what people thought of the name? x
 

BannerPenguin

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Thank you all for your help so far.
I have checked the name under the 'Companies House Register' and there are no concerns there. I just wanted to know what people thought of the name? x
Companies House and IPO are 2 different things. Companies house is for Limited Companies where as IPO (Intellectual Property Office) is for Trademarks.
 

squidgernetball

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If you want to become a Ltd company you can actually use a different name to the name you trade under to become Ltd.

If you look at the IPO you need to check that the name you want isn't registered under the classification you want to work under - so for example if you want to do beauty the classification is 45 (I think) so if your name is registered but under another classification you're safe - or you can wing it. It's entirely up to you x
 

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