Econ 545 Business Economics
Nail’s Emporium
Rory Catalan
Professor Issam Abu-Ghallous
April 9, 2017
Introduction The startup of a new business might be hard and tiresome at times, but for those whom have the drive to continue and the ability to keep going in pursuing their dreams a new business can be rewarding, but in the beauty field the choices can be overwhelming. Since there are all sorts and kinds types of beauty salons to choose from and Mr. Luong has his sights on the nail salon industry, our report will help him with information about this type specialty nail services that provide care for both males and females alike. This types of services will range from manicures to pedicures, nail enhancements, polishes, and extensions to name the least. Since owning a business might not…show more content… The SBA is able to structure those loans with the understanding that this will only be offered by those who doesn’t have other reasonable means available. “SBA’s Small Business Investment Company (SBIC) Program is a public-private investment partnership created to help fill the gap between the availability of growth capital and the needs of small businesses”. (sba.gov)
Demographics
According to the labor force statistics web site, in 2016. the nail industry has a total employed an average of 404,154 licensed nail salons per house hold in the U.S. Out of those 75.4 % are women while 7.3 % percent are black or African American while 43.2 % are Asian and a 7.2 % are Latino.
According to nail center website 3% of the customers are male and 97% are female, while 48% are married with kids and 17% are not married with kids, while 19% are unmarried with kids and 16% are unmarried with no
