New to this, need business advice

[DeSoto]

Hello to everyone, I have a number of questions as I begin a new venture in my life.

I recently purchased a small nail spa. The previous owner was a friend and has relocated to another state because of active duty. His wife had just began the nail spa and was doing very well for the past 8 months. I know business but I am by no means an expert in the Nail Industry. It seems like a great opportunity. I am very interested to learn how to run this spa and make a profit in the process.

They asked me to take over the spa because my wife and I have run several successful businesses for over 20yrs. We recently closed our automotive shop about 1 month ago after being in business for 10yrs. We had been enjoying the rest and relaxation but we have now found ourselves back in business.

The spa is fully stocked with equipment and supplies. Also, we have set up an account with the local trade warehouse. We did not change the business name but we did set up a new LLC and new tax id. My wife and I have would truly appreciate any advice about ...

My first question is how to pay the nail technicians? The spa is mid upscale. I want to keep one technician but start fresh with a new crew.



My main

 

[Easydry]

Best of luck with this new venture.

I would suggest you keep a lot of things as they are now - if it was working well before for the previous owner.

You can then take time to learn this new industry / business before you make any radical changes.

Also, ask the current staff for suggestions & ideas - they should have a good idea of what works well & doesn't.

Good luck.


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