Have you ever considered starting a nail parlor business? How much would it take to start? How much capital would you need and most importantly what would be your return on the capital you would invest in this business?
This is the question that David Kiprono Kalya tackled through his Flipsyde platform that focuses on small and medium enterprises. According to Mr. Kiprono, this is how you should go about starting a nail parlor business and eventually stand a chance of making Sh. 60,000 net profit per month:
Executive Summary:
ABCD is a start-up nail parlor located in a town in Kenya. The parlor is dedicated to providing excellent nail care services to its clients while maintaining a relaxing and friendly environment.
ABCD is the perfect destination for women looking to pamper themselves, relax, and improve the health of their nails. With a focus on quality service and customer satisfaction, ABCD aims to become the premier nail parlor in the town.
Services:
ABCD will offer a wide range of nail services, including:
– Manicures
– Pedicures
– Acrylic nails
– Gel nails
– Nail art
– French manicures
Market Analysis:
The target market for ABCD will be women of all ages who are interested in keeping their nails looking healthy and beautiful.
9 Most Profitable Businesses to Start With Sh. 20,000
The town has a population of approximately 80,000 people, with a significant number of women. There are currently no other nail parlors in the town, providing an opportunity for ABCD to capture a large market share.
Marketing Plan:
ABCD will use a combination of online and offline marketing strategies to attract customers. The following marketing strategies will be used:
– Social media: ABCD will have a presence on social media platforms such as Facebook and Instagram to promote its services and engage with customers.
– Flyers: Flyers will be distributed in the town to create awareness about ABCD.
– Referral program: ABCD will offer a referral program to encourage customers to refer their friends and family.
Financial Plan:
ABCD will require an initial investment of Ksh 700,000 to cover the cost of equipment, supplies, rent, and staff salaries for the first three months. The following is a breakdown of the estimated expenses:
– Equipment and supplies: Ksh 300,000
– Rent: Ksh 150,000
– Staff salaries: Ksh 150,000
– Marketing: Ksh 100,000
ABCD will generate revenue through the sale of its services. The following is a breakdown of the estimated revenue:
– Manicures: Ksh 1,500 per service
– Pedicures: Ksh 2,000 per service
– Acrylic nails: Ksh 3,500 per service
– Gel nails: Ksh 3,000 per service
– Nail art: Ksh 2,500 per service
– French manicures: Ksh 2,000 per service
Assuming an average of 20 customers per day, ABCD is expected to generate revenue of Ksh 210,000 per month. This will result in a net profit of Ksh 60,000 per month after deducting all expenses.
Conclusion:
ABCD is committed to providing excellent nail care services to its clients while maintaining a relaxing and friendly environment.
With a focus on quality service and customer satisfaction, ABCD aims to become the premier nail parlor in the town. The financial plan shows that ABCD is expected to generate a net profit of Ksh 60,000 per month, making it a profitable venture.
