After reading the last post, you will see that a nail blog does not require a lot of money to start. You should keep in mind that in this post, I use a nail salon as an example but the concept could be applied to any business that you are interested in.
The cost of creating a nail blog includes purchasing a domain name, annual host site registration, some reserved money and a must-have online blogging class. In total it costs as low as $700 comparing to tens of thousand of dollars for a average-sized, brick-and-mortar nail salon.
To determine how inexpensive a nail blog is, let us find out how much it costs to open a brick-and-mortar nail salon.
The followings are an estimate of capital that you have to put up even before you open the door for business. I take the liberty to round the numbers up so we can understand the concept better.
Note: I have been a nail salon owner since 1999 with several different salons. With this experience, I believe the numbers below are good estimates to open a small nail salon.
Initial cost of a typical nail salon are tabulated below.
|Cost of research and driving around town|
to find your perfect spot
|Security deposit (two months of rent)||2,000|
|Construction cost (remodeling)||20,000|
|Furniture (waiting chairs, receptionist counters, etc.)||1,500|
|Fixtures (lighting, pictures…)||1,000|
(nail stations, pedicure chairs, carts, washer/dryer)
(nail polish, polish remover, disinfecting liquids, towels)
(you have to stop work to start the salon 2 months: – $2,500 x 2)
|Miscellaneous expenses (office supplies)||1,000|
|Utilities (internet, gas, water, electricity)||300|
|Cash on hand to pay for the first 3 months|
(rent x 3 x 3 months)
|TOTAL INITIAL INVESTMENT:||$46,600|
These add up to $46,600 of initial investing capital The money that you have to have even before your first customer walks through your doors.
Notice that one thing that is missing from the table above is your salary. You will be lucky if your brand new nail salon will bring in enough revenue to pay for all the expenses.
Statistically, most business will break even after the second or third year. This means in the first two or three years, you might not have the money to pay yourself a salary!
Think about it, putting up a $46,000 to start a business that you might not be able to pay yourself for a year or two? You have to live and work through these challenging years.
What happens to the $46,600? Well, if you were to sell it right after you finish setting up the salon, you will be lucky to have someone comes in and buy it from you for $30,000. Why?
The salon you spent money to build up the way you want and like, not necessarily the way a new buyer wants. That is why your $46,000 is worth only two-thirds right after you finish your brand new salon. Ouch!
Why is it so? Similar to many other service industries, a price of a business an estimate of how many customers and how much it makes previous month or year. Your brand new salon has neither.
During the first two or three years, as a salon owner, you have to work at least ten hours a day, six or seven days a week, trying to get your money back.
You already committed time and money. There is no other way but to get up and work every day.
However, there is a better way.
Initial cost of a nail blog
Start an online nail business. The best choice is a nail blog.
To start a nail blog, you only need to pay for a few things:
- A computer with internet. Hopefully, you are reading on your laptop, check this off.
- A domain name. Many hosting companies like Bluehost will give it to you free the first year. If you already chose a name for your online business, you can check whether it is taken or used already. Bluehost has both domain name checker and generator features in case yours is registered by someone else before you.
- A hosting company. Unlike paying the landlord for the first month’s rent and security deposit that can be as much as $5,000, you only have to pay for hosting fee that can be about $4.00 per month with a basic package for one start-up blog site.
- Think about this for a second. $5,000 versus $4.00.
Bluehost has a low price of hosting for one website as low as $3.95 per month for the first year if you sign up for three year option. It will be $5.95 per month if you go for one year package.
If you skip one cup of premium coffee a month, you can afford hosting for your nail blog.
An online course to learn how to run your nail blog. You must set money aside for an online course because it is an essential blueprint for your successful nail blog.
A typical course costs less than $500. My favorite online blogging course that helped me achieved my blogging goal is only $449. If you divide this number by twelve months, it comes down to a manageable $37.42 per month.
Reserved money (mainly for computer app purchases): $100. Monthly, this expense is only $8.33.
Adding these up, you only need between $550 to $700 to set up an online nail business. Compare it to $46,600 price tag for a physical one, it is about 1.2 percent.
Dollar wise, you only need as little as $3.95 a month to own a nail blog. What a bargain!
It is even way less than the monthly electric bill of a nail salon which could start in the hundreds.
Now, if you are a nail tech and want to open a nail salon, which one would you choose to start first?
By the time your start going around to raise $46,6000 for your nail salon which could take months or years, you can have your nail blog up and running in a week.
The table below is a summary of a nail blog’s initial cost.
|Laptop or desk top computer (more likely you already have one||0|
|TOTAL INVESTMENT FOR A NAIL BLOG:||$670|
As a side note, similar to a brick-and-mortar nail salon, you have to work as hard as you could on your nail blog to make it a success.
There is no substitute for that as an online business owner.
As far as the required initial financial investment goes, the nail blog is a clear winner.
Now you know a nail blog offers the cheapest way to have a nail business.
Now you know the cheapest way to start a nail business, a nail blog.
Next, I will show you a nail blog has many advantages over a traditional nail salon.
Click on the link above to find out how you can find the name for your blog.
Nail Blog 7 Page Set-Up Guide:
PAGE ONE: NAIL BLOGS – WHY YOU SHOULD OWN ONE. This is an introduction to a nail blog.
PAGE TWO: WHAT IS A NAIL BLOG – AN ONLINE NAIL SALON. A nail blog is essentially a nail salon but it requires much less money to set up.
PAGE THREE: WHAT IS A NAIL BLOG – THE CHEAPEST ONLINE NAIL SALON. If you are thinking about opening a nail salon, you should start a nail blog first.
PAGE FOUR: HOW TO START A NAIL BLOG – GIVE IT A NAME. Start your nail blog by choosing a name for it.
PAGE FIVE: HOW TO START A NAIL BLOG: REGISTER A NAME. Make it official: register it in your own name.
PAGE SIX: WHAT TO DO AFTER YOU REGISTER YOUR DOMAIN NAME? Give yourself sometime to get familiarized with the blogging world by checking out other nail bloggers.
PAGE SEVEN: OTHER ADVANTAGES OF A NAIL BLOG. To get better understanding other benefits of a nail blog.