Omg!!! I feel like you guys are in my head!!! Every time I have a big question I try to figure out in this industry, you guys popup on my screen with a biz talk about it!!! You guys are amazing!! Thank you so much for this!!!!
@youngnailsinc4 жыл бұрын
lol welcome
@regisligh62734 жыл бұрын
Once again, another needed conversation. I just love how they take the “fantasy” out of nails and get real. So many things discussed here I had not considered. I’m learning if you’re not focused and educated, you’ll burn yourself out and be mad at others!
@youngnailsinc4 жыл бұрын
For sure
@ElisePink4 жыл бұрын
I always appreciate the business related topics that apply specifically to the Nail Technician Industry. You discuss important and relevant topics, beyond the nail tech textbook. Thanks Much
@youngnailsinc4 жыл бұрын
❤️❤️
@jenninstitches4 жыл бұрын
Simpler than I do it.... But I do come from restaurants so my over-detailed self does it per "ingredient". But this does get the job done. The restaurant industry is a great comparison to the nail industry: lots of fixed costs for consumable good that go at different rates, customer traffic, busy seasons etc. Most restaurants fail because people don't know their full operating costs vs revenue. They see money coming in and think all is well... It isn't until you can minus your costs and take home the right amount you know you are succeeding. Even the most jam-packed salon can fail if your bills outweigh your revenues.
@youngnailsinc4 жыл бұрын
Exactly, a perfect comparison
@nailcreationsamanda4 жыл бұрын
I'm such a numbers nerd! I was even thinking about trying to help other Nail Tech's get organized so they could know their costs. So important to know because we can see a new color come out but we need to go through a thought process to make sure we're not just always spending. Good talk!!
@youngnailsinc4 жыл бұрын
Absolutely
@rosemariaprovencher69404 жыл бұрын
Great topic! Not taught in schools. Teach us more 👍
@youngnailsinc4 жыл бұрын
For sure
@sungal420033 жыл бұрын
Thank you for this content. I’m an accountant whose daughter is a new nail tech. It was disappointing these topics weren’t included in her nail school. It’s vital to know your variable and fixed costs are. I really enjoy watching all your content!
@empogirl4 жыл бұрын
Oh gosh this is such a great topic guys! Love it #teamYN still having this issue especially when some clients want to pay 55$ for 100$ sets well sorry I’m not going to loose my money for broke ass clients
@youngnailsinc4 жыл бұрын
For sure
@debbieforseth2544 жыл бұрын
Vanny L some people always want something for nothing. If I can’t afford your $100.00 service I’ll decide with you what I can afford and have that service.
@empogirl4 жыл бұрын
Debbie Forseth that’s what I do girl, like instead of color acrylic try gel polish, or instead of a full nail crystal try partial or instead of chrome we can do foil omg sometimes they want those high end nails for cheap then I always try working with them
@empogirl4 жыл бұрын
K C I do like I tell them what they can get for certain prices
@AwesomeKatch2 жыл бұрын
I’m just starting as nail tech, nail school didn’t talk to us about this subject but i did figure it out by myself and I’m happy i came across this video telling me I was right about the way I wanted to calculate my price...
@latoyahenry14854 жыл бұрын
These biz talk episodes are super great and the reason is being is that every possible question a tech would have you guys cover it with answers on a business platform and a brand level 😎🥰 Thank you guys for being so open and transparent ❤️❤️ #YoungNailsLove
@youngnailsinc4 жыл бұрын
Latoya Henry ty so much!
@kahylimayy2 жыл бұрын
We need more of these cause nobody ever talks about it and it can get confusing when you’re a solo business owner.
@maritzagonzalez53984 жыл бұрын
OH MY GOODNESS! Y'all hit the nail on the head every single time you guys post content topics like this. It's so relatable and needed. Please keep posting. I love you guys!
@youngnailsinc4 жыл бұрын
❤️❤️ More videos coming daily
@gemmalouise44732 жыл бұрын
Thanks so much for making these videos!! they are so helpful to running my business. It's great to hear you talk around the subject too. I feel people think nails should be a lot cheaper than they are especially with lower end salon charging cheaper rates but using crappy products. It annoys me that some people don't see we have to charge for the quality product we buy. Keep up the good work guys, love all the nail tutorials too I have been on nail art watching overload!! so so helpful!!
@loveauxnailwaxstudio4 жыл бұрын
Great segment!! Thank you Tracey....because why have I not been including the laundry detergent, fabric softener sheets and bleach?!? 🤦🏽♀️ I have a pro tax preparer so I am including that this year! I took a class on this topic years ago with Liz Morris. She taught us how to use a scale to measure our products to determine costs per service. Never knew how to calculate it, and realized it is so important to know. This session was super helpful because it simplified the process. Many techs don’t learn this stuff and don’t bother with it because it seems complicated. Thank you so much Habib for breaking this down. Love love love this info and hope you include it in OWC....which I’m super stoked about! 🤩
@youngnailsinc4 жыл бұрын
Yes it is all so very important to know and not widely discussed. During OWC you can ask any questions you'd like
@NailsofNorway4 жыл бұрын
This will help a LOT of naitechs out there!👏 Even though I am not making money from doing nails, I always watch your biz talks for some odd reason😃 I guess that deep down it will always be my dream😔 I just spend money on nail supply.. AND I have just got my hands on a core product package from YN. Can not wait to dig into it all😍. A really sad thing is that as from last summer no one is shipping YN products to Norway anymore because of some new EU rules! 😭😭 You NEED a supplier here!!!🙇♀️
@youngnailsinc4 жыл бұрын
You can contact @youngnailsUK
@NailsofNorway4 жыл бұрын
@@youngnailsinc Great! Thank you SO much for answering my cry for help😃 it is deeply appreciated! 😘💕
@michelleoss-payne96414 жыл бұрын
SWORE-OFF-SKI. 😉 Thanks, guys. So informative, especially on the art stuff. I think back to when Stephanie talked about feeling good charging for art.
@youngnailsinc4 жыл бұрын
haha for sure
@lelarobinson28544 жыл бұрын
I shoulda "SWORE" those damn things off! I just dropped almost $1200 on them! The initial cost is a bee-yo-tch! Lol!
@michelleoss-payne96414 жыл бұрын
@@lelarobinson2854 oh my goodness! You are so funny! But man, it's hard to resist sparkles!
@francesheithaus3382 жыл бұрын
I know this is 2 years old but this information is priceless. I'm very thankful I've been a bookkeeper as well it helps with the business side of things. As always love all that yn nails soes for our community
@savanalewis22672 жыл бұрын
I am doing a report on opening my own nail salon and it asks a lot of questions, like geography, and demographics, pricing and what I would put on the market. So your videos has helped me out a lot. I hope I get an A+ on this report. Thank you for your help. Nice show you have going on.. KY
@youngnailsinc2 жыл бұрын
Sorry for the late response, but that is awesome! So glad we could help!!
@BB-ie2nh4 жыл бұрын
I commented on last video about going independent/booth rental. I’m in the process of buying my supplies and that where I’m stuck at. I knew this wasn’t gonna be easy because for the last 10yrs I been working commission. This is all new to me as to what I should charge for each service. Nail art, crystals, chromes etc.. I also need to include paying rent. So supplies and rent like to Tracy said what’s fair. I already told myself that I’m starting off a lil right now and then as I profit I’ll be able to invest more into my business, because I’m being cautious like you guys said about not wanting to get in a bad situation. I wish you guys had a book about the business end of things. I love Tracy and she has done everything almost and a mentor like her is what I’m looking for to break things down. I’m am gonna get a tax person I already planned that. Just the services part is what they can’t give me a number where as someone that has I’m the business with nails knows through experience of what works and what doesn’t. Do you have any recommendations? Thanks guys! As always you guys are amazing and I admire you all so much 😊
@youngnailsinc4 жыл бұрын
Recommendations as to what you should be charging? Yes we have videos on pricing and raising your prices starting out and otherwise. Even better than a business book we have hundreds of videos here on the channel to view and go back and re watch, plus more coming daily
@jamie-leedonnelly10564 жыл бұрын
Couldn’t love you guys any more, working it out what I wanted to earn yearly was a game changer for me so thank you guys 🙏🏼 very grateful for the biz talk 🥰 #teamyn 💪🏻
@youngnailsinc4 жыл бұрын
❤️❤️
@kleesnailtreasures54944 жыл бұрын
As much as I love and believe that having an accountant is what’s needed to help the business to run and understand the money side of it. What is you say for any techs that are just starting out, don’t have that full clientele; don’t have that money coming in to cover the cost of hiring an accountant. As much as I would love to have an accountant help me with my business spendings and earnings I just don’t have the clientele to cover the cost of an accountant. And, I couldn’t take it out from my day job as it will effect my life to life bills. Hope my question makes sense? Thanks guys love this episode. I have definitely tried to take control of my spending and earnings at the beginning of my career and have hopefully set my prices to cover my spendings to start this career. Xx 💋
@youngnailsinc4 жыл бұрын
There are 2 great options to try to curve some of the full cost accountant fees. #1 of course everyone's goal find an accountant maybe willing to trade nails for some advice or maybe even permanent help. #2 go toy our local college and find the accounting students, they are usually eager to help ether to build their portfolios or at a discounted rate. Also you can always pick the brains of fellow nail techs that may have some advice to get you started
@kleesnailtreasures54944 жыл бұрын
Wow, thanks guys. I didn’t even know you could even do some of those things? Will have a try. Xx 💋
@pookierose64 жыл бұрын
That's really great advice. Wow.
@nailcreationsamanda4 жыл бұрын
I do a spreadsheet. Some accountants don't understand this business. I got rid of mine when he didn't think I needed to do 1099 for my landlord. Now I use Turbotax and its easy. Just keep the spreadsheet up to date.
@ASMRbyKittyy4 жыл бұрын
Nail Creations Amanda how do you do your spreadsheet?
@giaenergia4 жыл бұрын
This IS the conversation I've been waiting for!!! THANK YOU!!! Here's a set of questions I still have. I've got a salon of my own, I'm 3 months in, this past january I've written down my numbers. I had 64 services with 0.85 cost each. I'm at 4,46€/hour which is not bad for a self-thought, 3 months fast learning. The customers are over the moon, I'm recommended endlessly by them and I get an average of 4 new regulars a week. When is it time to raise the prices? I thought it's when I'm fully booked and due to high demand I can have more preselection by pricing. Should I get a partner involved although I don't like marrying anyone as I put my skin into the business and I expect the same. Hiring techs, here in Mallorca, Spain they work on 70-30% ratio. 30 for the salon, 70 for the autonomous tech. Do you expand your registered name and thus increase government fees or do you register on lower rates for beginner-time? How do you multiply the formula? Once you have a salon that's working, how do you set for 7 more salons within the next year? Here, full set acrylic is 25€, full set gel is 35€ which is way lower than the US. Can there be such thing as monopole onto the market, something like the supermarket of beauty, centralized service with monthly subscription rates from the customer's side? The list of questions goes on and on. Thank you for cracking this up together guys!! Your work has definitely influenced me. I appreciate that!!
@youngnailsinc4 жыл бұрын
I think a short answer to basically all of these questions is one thing at a time. As for raising prices if you are booked and your clients are happy with your work I would increase. As for seeking other techs, I would give it time to find the right fit don't force it. As for expanding salons, same answer when the time is right go for it but don't jump in too soon. As for the formula it is something you will need to be constantly re-calculating
@valerieh.16244 жыл бұрын
Very informative. You guys & dolls definitely bring The Biz Talk. This video, I'm sure. Will help over 50% of your viewers. Thanks, for sharing your knowledge. 💖💜💖💜💖
@youngnailsinc4 жыл бұрын
❤️❤️
@natunga1004 жыл бұрын
Very important info. Thank you guys!
@youngnailsinc4 жыл бұрын
❤️❤️
@christinepouliot63204 жыл бұрын
Great way to break it down. Much easier to figure out. Thank you
@youngnailsinc4 жыл бұрын
❤️❤️
@Thislifewecreated4 жыл бұрын
I do believe in putting out a notice that prices will be raised, however, I have been with the same dentist for 9 years and they have been raising their prices every year without notices. For example I was quoted for a crown, I waited 18 months to get it and when I went to schedule it they had quoted me a price $200 higher. I told them the price I was originally quoted and the receptionist said “we raise our prices” (in a snotty tone might I add). I know pretty much every company raises prices each year but why is it that some fields get away with no notices to clients🧐
@youngnailsinc4 жыл бұрын
Yea notice is definitely necessary. It's respect for the clients, because then it becomes their decision if that's a purchase they would like to make.
@samanthapasztor66743 жыл бұрын
Wow! i needed this. i just calculated my cost per service. I am definitely not charging enough
@heather74094 жыл бұрын
Hey guys! Here’s a question I would LOVE for you guys to answer! 💖 I manage a small salon, with about 4 girls working with me. I have completely stopped doing regular polish manicures, but some clients still request regular nail polish manicures from time to time. I looked at the forecast of appointments booked from now until 2 months, and it’s literally 1 in 150 clients that want regular polish compared to a gel manicure. The girls who I manage, take the same amount of time to do a regular polish manicure compared to a gel manicure per appointment. Do you suggest we charge the same amount for either service because it’s the same amount of time of “butt in chair”? Or, should we take regular polish off the menu to focus on our other services since that’s where our salon seems to be trending, and focus on our other services? Thanks always guys 🙏💕
@youngnailsinc4 жыл бұрын
Personally I would take polish off the menu if the cost and time is the same but profit is not. You're losing money. I would just politely explain to clients you have other options for them instead of the polish, even if you lose the client it will open up the space for someone else to get a service you are going to make more of a profit on.
@karenbrown79754 жыл бұрын
Thank you for sharing this biz talk has given me s lot to think about x
@youngnailsinc4 жыл бұрын
❤️❤️
@CherryBlossomNailArt4 жыл бұрын
Love these biz talks. Please discuss how to be passionate about nail industry for the longest time. There are times when you feel discouraged or self doubt your abilities :(
@youngnailsinc4 жыл бұрын
We just posted a vlog on that "nail tech burnout" check it out
@CherryBlossomNailArt4 жыл бұрын
@@youngnailsinc Oh yes how can I forgot, loved that vlog.
@FriorSoap4 жыл бұрын
You guys are awesome. I’ve learned so much from you about all aspects of this business! I can’t get this info anywhere else! Thank you!
@youngnailsinc4 жыл бұрын
Happy you're enjoying the content
@erin8000uk4 жыл бұрын
This gives ideas to new nail tech people out there
@youngnailsinc4 жыл бұрын
❤️❤️
@korynthomas91174 жыл бұрын
Tuning in !!
@youngnailsinc4 жыл бұрын
❤️❤️
@TheonlyKirindaMarie2 жыл бұрын
I like the starting point of how much do I want to make.
@MzPinkee054 жыл бұрын
Great video!! Much appreciated!
@youngnailsinc4 жыл бұрын
❤️❤️
@angelagohman56724 жыл бұрын
My question is how much should a beginner, right after graduating? I am starting in a few weeks and this has been on my mind. Once I graduate and say I'm paying a booth rental, what would a beginner charge? After time goes by and I get better, when should I decide to raise the price and how much? Should I wait for a year and give the clients some notice? Raise it a few dollars? $5? $10?🤔
@aspillane59024 жыл бұрын
I don't know how much an average cost in the US is but I'll give you an guideline in euro. So an average full set in my town is €50. When I started I was charging €35 for a full set and €30 for a refill. But the important thing is how is your skill? I rented a space and the previous tech watched me do a set and gave me that price as a starting point as my skill was good but it was taking me nearly 2 hours to complete a set. After 8 weeks I went up to full price. You will be surprised how quickly you improve when you are doing sets day in day out.
@youngnailsinc4 жыл бұрын
We actually have a full biz talk episode on raising prices here on the channel. Check that one out and if you have any specific questions feel free to shoot us a DM
@angelagohman56724 жыл бұрын
@@aspillane5902 thank you!
@aspillane59024 жыл бұрын
@@angelagohman5672 no problem! Hope it helped! Best of luck with the new career!
@kiannacastillo48184 жыл бұрын
very very helpful!! thank you!!
@youngnailsinc4 жыл бұрын
❤️❤️
@nailedbyed4 жыл бұрын
I uploaded an Example of my service cost worksheet to the YN FB Groups
@youngnailsinc4 жыл бұрын
Nice
@ASofterSide4 жыл бұрын
I am not able to find that example, is there a link?
@nailedbyed4 жыл бұрын
@@ASofterSide it is in the FILE SECTION
@junebugjay4 ай бұрын
What should I charge for gems/ bows/ foils etc
@youngnailsinc4 ай бұрын
We pretty standardly charge $5 extra across the board for add-ons like each glitter, each additional color, etc. If that seems like too much with your pricing structure, you could even charge $1 or $2 per bow, foil, etc. As long as you are charging for your art.
@korynthomas91174 жыл бұрын
I do have a question. How long should a full set actually take you to do if you want to work in a salon doing walk-ins ?
@youngnailsinc4 жыл бұрын
Good goal is about an hr, but give yourself time to get there. You never want to compromise the quality of your work for speed
@Lisalovesliberty19 ай бұрын
Can you do an updated cost per service… inflation is crazy! Plus, I’d love to see new/current “How Much” episodes… again to show what services should be $$$ these days 🎉
@youngnailsinc9 ай бұрын
The annual inflation rate tends to be between 3-4%, so we recommend increasing your prices by approximately that much annually. Usually a $5 increase per service is a good number to use as this isn't so much that it will deter customers from getting services, but it will give you a raise as well as cover increases in expenses.
@nailcraze11214 жыл бұрын
Super topic 👍Luv u guyz❤🤗
@youngnailsinc4 жыл бұрын
❤️❤️
@erin8000uk4 жыл бұрын
Depends on what your doing what type of art to your client
@youngnailsinc4 жыл бұрын
For sure
@blak_momba30564 жыл бұрын
This was great!!!!! I wish you guys could go into a bit more detail though lol lol 😂 maybe start a class lol running a nail biz 101
@youngnailsinc4 жыл бұрын
More videos coming daily
@blak_momba30564 жыл бұрын
YoungNailsInc great
@saywhat23 Жыл бұрын
Very informative, but I still couldn't break it down, on how much to charge for my time, and how much to charge on materials
I would like you to talk about tendencias for 2020 if posible, Greetings from México, ☺️
@youngnailsinc4 жыл бұрын
❤️❤️
@KayFox084 жыл бұрын
Hi, I’m now starting out as a nail tech and I’m working out my pricing. Could you give an estimate of how many sets of nails I should be able to get out of your 32oz bottle of monomer and your 45 gram cover powder? Thanks so much, and keep videos like this coming😊
@youngnailsinc4 жыл бұрын
Unfortunately it is hard to put a number on it as there are so many variations in peoples work. Full sets vs fills, different shapes, lengths, and product used.
@KayFox084 жыл бұрын
YoungNailsInc okay, that makes sense. Thanks for responding 😊
@soniaboehm91184 жыл бұрын
Great info thanks. I love this formula! #teamyn
@youngnailsinc4 жыл бұрын
❤️❤️
@kayla_slays_21644 жыл бұрын
12 clients a day on the LOW END ?? Gosh i thought i was busting my ass with 8 on a busy day 😱😱
@youngnailsinc4 жыл бұрын
Haha everyone has their own pace
@ASMRbyKittyy4 жыл бұрын
I can only do 3-4 😩
@MsFashionqueen13 жыл бұрын
Should I charge by the diamond?
@youngnailsinc3 жыл бұрын
You can, really depends on the quality of the product and cost. Some embellishments can be costly (like Swarovski)
@amyantunez50074 жыл бұрын
I see how people get in a bind. But then you have people always say your services are too much and go somewhere else where the cost is cheaper. You try to explain why you are uping your cost and they still want a cheaper service vs quality service.
@youngnailsinc4 жыл бұрын
Totally
@ASMRbyKittyy4 жыл бұрын
Exactly! It’s so discouraging
@Ezster694 жыл бұрын
I do it by setting month by month goal. Starting out I want to make $3,000 a month. $250 a day I have to earn. However, I am on the path to getting a booth rent, I'm moving on from commission.
@youngnailsinc4 жыл бұрын
Nice, good for you
@stelabellstelabell35144 жыл бұрын
i love your videos.i watch you from greece.i am starting school for nails soon.my dream is to have my nail saloon i own a small stone store and thinking to fix this in my saloon. i live in a famous place for tourists.we have a lot of fish spa that do nails.but i am not afraid. i am going for quality and not for a lot of clients that come on time.and ask for discounts! your videos help me a lot.they way you think and work! 😍
@youngnailsinc4 жыл бұрын
Awesome
@PawsInTheGarden4 жыл бұрын
Can someone turn up her mic
@youngnailsinc4 жыл бұрын
Will double check audio
@maggielopes33694 жыл бұрын
It was hard hearing her!
@TheLoveChild20114 жыл бұрын
#TEAMYN 💅🏻
@youngnailsinc4 жыл бұрын
❤️❤️
@nelidasotelo30674 жыл бұрын
So true! 💖💅💖yn
@youngnailsinc4 жыл бұрын
❤️❤️
@acbxoxo4 жыл бұрын
OMG how in the world did you do 12-16 a day? How many hours did you work? I know why you're not doing that anymore. God bless you!
@youngnailsinc4 жыл бұрын
about 10-12 hrs a day
@lesleystorey39174 жыл бұрын
Dont go there confusious say how did this system get started
@youngnailsinc4 жыл бұрын
Not sure what you mean
@marytube18674 жыл бұрын
#teamyn
@youngnailsinc4 жыл бұрын
❤️❤️
@debbieforseth2544 жыл бұрын
#TEAMYN
@youngnailsinc4 жыл бұрын
❤️❤️
@lesleystorey39174 жыл бұрын
Can't knit pick with this you can and have gone insane but am not
@youngnailsinc4 жыл бұрын
haha
@erin8000uk4 жыл бұрын
How many clients this also counts
@youngnailsinc4 жыл бұрын
Yep
@createinspain4 жыл бұрын
And don't forget to calculate cost of the accountant and your tax liabilities!
@youngnailsinc4 жыл бұрын
For sure
@lesleystorey39174 жыл бұрын
Two sets of books
@youngnailsinc4 жыл бұрын
k
@lesleystorey39174 жыл бұрын
And do a give away
@youngnailsinc4 жыл бұрын
Giveaways daily
@lesleystorey39174 жыл бұрын
And the rest
@youngnailsinc4 жыл бұрын
Not sure what you mean
@lesleystorey39174 жыл бұрын
*or÷
@mandicoleman74334 жыл бұрын
Raw n dirty 😅😅😅
@youngnailsinc4 жыл бұрын
lol
@lesleystorey39174 жыл бұрын
What's a liverble wage what's a comfortable wage and how do millionaires make millions without the tax man doing to them what they do to there staff
@youngnailsinc4 жыл бұрын
Depends on where you live and the style of life you consider "liveable"