Today we are talking about things that can hinder you from making six figures this year, and no, it’s not just the economy. In times of stress, beauty services are not just pampering but also a bit of “cheap therapy.”
The state of the economy is outside of your control, so instead, let’s focus on things you ACTUALLY have control over. Here are five factors that, in my opinion, will hinder you from hitting your 6 figure goal.
Let’s start with
#1 Doing the same thing you did last year
If last year was not as profitable as you wanted it to be. You need to shake some things up.
This could mean you upgrade your products and services by taking an extra class or two.
It could also mean improving your speed and letting go of services that mess up your income predictability because you don’t do them enough or they’re not where your specialty lies.
For example, say you already have your nail business and are offering regular nail polish manicures but are also doing enhancement services like acrylic or structured overlays. Your enhancement services take you consistently around 2 hrs, and they are what you love doing. However, you continue to book regular manis “just to make the extra money.” Still, they may take the same or close to the same focus and energy of your enhancements. This is a big mistake.
You, as an independent nail stylist, need to hone in on what you want to be known for this year and start cultivating those client relationships in all your marketing efforts, even if it’s just on social media.
You don’t have extra resources to waste, i.e., time, money, products, and energy. So get very selective this year.
#2 Doing nails only
Yep, you’re probably like, Paola… what do you mean I am only a nail tech? I can only do nails. If you only want to do nails, hitting six figures in your business can be stressful.
But if you incorporate education and even a few retail or merch items to sell, those products can make income for yourself that does not require recruiting more clients or booking more services.
But with education, even if you’re a little shy about educating others, content creating, or creating educational content around your niche, is a great way to start inching toward your goal of becoming an educator. And I mean by selling your own programs, not necessarily other brands. Do not get hung up on trying to be a brand educator. That is one way to become an educator, but it is certainly not the only way.
To have some real achievements in this area, you need coaching, and I would not have gotten to the level I am today with my education and content creation without investing in programs. Staying at the rim and simply skimming through free education or what your peers are doing will not move the needle significantly in your education business. Even if you make money, you may struggle to find a sustainable schedule for work-life balance for content creation. But if you make a mental and financial commitment to dive in and give something your all, you won’t be going down a new path alone.
The Nail Affiliate Course is a wonderful course included in the admission of MGN PRO if you’re looking into monetizing as a content creator. If you’re not familiar with it, I’ll drop a link below for you to learn more about it.
#3 Not pre-booking and starting a waitlist
So many times, especially as new nail techs, we get caught up in the emotion of getting a new client and then having the same client return, and that is fine. But keep your thoughts and even your conversation in the future, and when that client returns a third time, that’s an excellent time to encourage them to start pre-booking their next appointment if a particular time and date works.
Prebooking your clients is not an inconvenience; quite the opposite. If you prioritize pre-booking them, they will not go through often disappointments of not being able to get in with you.
After about six months, or at the start of the new year, you’ll want to have your clients pre-book ahead for the next six months to a year. This creates tremendous income predictability and stability in your business, knowing that you just have a few spots to fill in your book each week, each month and each year.
Once you’ve pre-booked most of your clientele, it becomes very easy to start a waitlist.
#4 Not raising your prices
There cannot be any stutter-stepping here because the groceries, your taxes, and the cost of supplies do not hesitate to increase. Therefore neither should your prices, as this is how you make a living to pay those evergrowing expenses.
Every year your prices should go up at least $5. But if you’re playing catch up and have not given yourself a raise, do $10. And if you’re really behind on what you should be charging, you may have to do two increases in one year.
What should a nail tech be making an hour?
That number will vary on what you do and your overhead. Our specialized stylists inside the Master Gel Nails Course are coached not to charge anything lower than $60 for 90 mins of their time, even as new nail grads.
But a sure answer is… definitely not minimum wage.
Why? Because of the number of hats you wear to be your own boss, you deserve to earn way above that. Otherwise, just go get a job you love, and be happy.
#5 Not doing the math
Yep, sometimes we dive into things without considering the costs.
So if you want your business to make 100,000 this year. That means if you work five days a week for the remainder of the year. So 260 days,
Every work day, you should gross at least $384, which is achievable. But keep in mind that in my experience as self-employed, my accountant suggests saving 25% of my income for taxes.
So really, if you want to take 100,000 only on nail services, after taxes, your real goal is more around making $125,000, which is about $480 a day, and you are definitely worth every dollar of that.
So factor all that into knowing how many days you want to work in the salon and how many clients you want to see each day. And if you’re interested in putting these topics together, I’ll be hosting a short boot camp on this topic, and if you’re on the MGN PRO Waitlist, you’ll be the first to know, so you’re set if you’ve already signed up.
And those are my five things that can hinder you from making six figures this year.
Again
#1 Doing the same thing you did last year
#2 Doing nails only
#3 Not pre-booking and starting a waitlist
#4 Not raising your prices
#5 Not doing the math
In your hands, literally, lies the power to make someone feel pampered and beautiful. Do a fantastic job and genuinely care for your clients; this will take your business far.
If you want to get ahead this year and nail your gel nail applications once and for all, if you want to learn how to book yourself out even as a new nail tech and learn how to structure and price your services, this is the last call to enroll in the MGN PRO waitlist for this January enrollment. MGN PRO is my program that includes all of my signature courses, and I also host small group coaching intensives to ensure you get on a straight and narrow path to meet your goals in the business of nails.
The doors open twice a year, and the next time this program will open is in September.
If you are or want to become an independent stylist specializing in the use of soft gel, and you can benefit from group coaching,
Do sign up for the waitlist to learn more.
Content written by Paola Ponce.
Loved this blog? Then I think you’ll love learning more about my journey as a specialized gel nail solopreneur in the nail industry. Click here to get instant access to my free masterclass.These blogs are copyrighted material, and any use of this blog is not permitted without written concern first. Some of these blogs contain affiliate links that give us a small commission when qualifying purchases are made. Thank you for being so supportive, which helps us to continue creating valuable resources and content like this.
