Verified Document

Hair/Nail Salon Nail/Hair Salon Business: Nail / Essay

¶ … Hair/Nail Salon Nail/Hair Salon Business:

Nail / Hair Salon business is a venture that can be a booming business because people always seek beauty as they look to improve their physical appearance or provide themselves with a complete new look. Therefore, these individuals pass by the nearest beauty salon to receive services like coloring their nails, shaping their eyebrows, and styling their hair. Due to the demands for new and improved appearance, nail and hair salon business continues to be one of the rapidly growing industries in the modern society. My Nail/Hair Salon will seek to provide services towards styling hair and nails in order to capitalize on this rapidly growing industry.

As part of developing an effective business, one of the most fundamental questions is the form of business ownership. In order to start a business, an individual must careful consider the available forms of ownership such as partnership and choose the most appropriate one. For My Nail/Hair Salon, partnership can be a suitable form of business ownership because it has several advantages since it's easy to establish and maintain the business. This form of business ownership has several advantages including flexibility it provides as the partners have the liberty to determine their responsibilities and benefits based on the effectiveness of the business. Secondly, filing income...

Third, through partnership, business owners don't have to register with the state and pay fees like a corporation. On the contrary, there are several disadvantages of partnership including the ability of one partner to legally bind other partners, partners are individually liable for all business debts and lawsuits, and limited ability to raise funds for the business.
The other notable consideration for My Nail/Hair Salon is funding since there are various funding options for small businesses. The funding options for this business incorporate the maintenance of a positive cash flow against inconsistent income and high overhead costs. The three most common funding options for small businesses are debt financing, equity, and venture capital. Debt financing basically entails starting the business with loans whereas equity is attracting investors and selling a share of the business. Venture capital helps in expanding on a larger scale as it involves selling interest in the company with a financing group or firm that promotes the growth of small businesses to larger operations (Feigenbaum, n.d.).

Similar to other businesses, managerial accounting is an important aspect of My Nail/Hair Salon because it helps managers…

Sources used in this document:
References:

"Chapter 2 -- Management Accounting and Decision-Making." (n.d.). Micro Business

Publications. Retrieved June 3, 2012, from http://www.microbuspub.com/pdfs/chapter2.pdf

Feigenbaum, E. (n.d.). Funding Options for a Small Business. Retrieved June 3, 2012, from http://smallbusiness.chron.com/funding-options-small-business-3174.html

"Social Responsibility in Marketing." (n.d.). Know This.com -- Knowledge Source for Marketing
Since 1998. Retrieved June 3, 2012, from http://www.knowthis.com/principles-of-marketing-tutorials/what-is-marketing/social-responsibility-in-marketing/
Retrieved June 3, 2012, from http://www.allbusiness.com/business-planning-structures/business/372-1.html#axzz1wdMBHpLR
Cite this Document:
Copy Bibliography Citation

Related Documents

Small Local Business Marketing Plan
Words: 1663 Length: 5 Document Type: Essay

Toshi Dream Spa and Salon is a full-featured spa and salon business located on Main Street and open seven days per week from 10AM until 7PM. They have been in business for fifteen years. Five years ago, they expanded and modernized, going from a hair salon with five chairs to a full-service spa that offers facials, body treatments, waxing, manicures, and pedicures. Their shop is modern, clean, and slick looking.

Marketing Plan for Salon Destined
Words: 3283 Length: 12 Document Type: Business Plan

2.5 Keys to Success Major factors comprise: * Expertise. * Suitability. * Consideration of customer (Marketing Plans, 2011). 2.6 Critical Issues Being a growing and initial starter, Cherie's Hair Salon is in the exploratory period. Main issues regarding this are constant loom for financial reticent, possible extension at a rational charge as long as we can create a finance caring sagacity too (Marketing Plans, 2011). Second Draft 3.0 Marketing Strategy Budget of marketing for Cherie's Hair Salon is based

Mobile Pedicure, Manicure, and Massage
Words: 1581 Length: 6 Document Type: Research Proposal

Also, it is worth mentioning that the salon can rely on a good balance between quality of services and prices. Operations The new salon's website must provide full information on the company's products, services, and prices. The working schedule and contact options must be very easy to find. The company must employ e website operator that handles orders. Also, the salon's promotions must be clearly stated on the web site. Financial statements Sales Expenses Net

Marketing Plan Over the Years
Words: 4993 Length: 12 Document Type: Term Paper

Grooming not only helps in zeroing in on external parasites and skin wounds, and does not allow fur to fall on furnishings, it also helps in spending a good quality time establishing a quality time with the feline friend. In case of shorthaired cats, one can use a metal comb which is fine-toothed on a weekly basis and a rubber brush or natural bristle to eliminate the traces of

Career Analysis: Walmart and Target
Words: 2641 Length: 8 Document Type: Essay

Career Research Report Researching companies is very important when anyone is considering a future career. The two companies researched here will be Wal-Mart and Target, in order to determine which one (if any) would be the best choice for me to work at based on all the factors that are important. The purpose of the report is to discuss both Wal-Mart and Target, in order to show that the companies have many

Project Management Scope
Words: 902 Length: 2 Document Type: Business Plan

Island Spa Project Manager Chuck Russell Prioritization Owner(s) Claudia, Yolanda, Hopeson and Jason Statement of Work -- Project Description and Project Product This section is typically a detailed amplification of the project SOW and mission from the Project Charter. This also includes how you intent to accomplish the project. "We intend to do this. . . And here are the steps we intend to use to accomplish the project." This section is typically a detailed amplification of the

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now