Economics

San Francisco: Luxurious Nails Opens on Third Street

Published

9 years ago

April 17, 2017

Oakland Post

Photo credit: Meaghan M. Mitchell/Hoodline

Sitting on the couch one night watching television, Richard Washington had an idea that would change his life.

He was watching “Boss Nails,” a nail salon founded by Dana Cody, which talks about the nail business in Miami, Florida. Washington thought this would be a good idea for a business in San Francisco and in particular – Bay View Hunters Point.

“I was like wow,” said Washington. “Here was a salon in Miami that was busy, making money and employing people from a community, like Bay View.”

The show got Washington to thinking and he began to look at the various nail shops in Bay View and the 94124 zip code.

“There were like three to four salons in the area and on Third Street, but there was nothing that was high end, in my opinion,” continued Washington. “So I saw a need. I wanted to create a nail shop that was high end and also affordable.”

To see a Black-owned nail shop in today’s times is a rarity in an industry that is dominated mostly by Vietnamese-owned nail salons. This has been the case over the past 20 years, especially in urban and most inner city areas.

Washington did his research over a year and half, going to different salons and then within the Bay View area. At the time, he was working for ATT as a technician, so in between work, he looked at the nail business in depth.

He was able to get a $50,000 loan from Main Street Launch in Oakland, which is focused on Black business creation.

He found new building at 4138 3^rd St., which has a 1,700 foot structure.

Washington signed a lease in September, begin working on the place and held a grand opening in January. The Luxurious Nail Salon has five spa chairs and pedicure stations, and a waxing area station.

It is a luxurious setting, in which customers are served wine and beer while they are getting pampered.

“You know in this business, you get what you pay for,” continued Washington. “You go to different parts of the country like in Los Angeles and or New York, and you go to salons that look like this, you are paying $60 for a pedicure. Here, I am way cheaper than that.”

He said that business at the start was slow, but it is picking up, as he has had to hire new people.

“I am in the process of promoting this business and working on getting more people in the salon,” said Washington.

Oakland Post

Posts by Oakland Post

Up Next

OUSD Latino Honor Roll Recognizes High Achieving Students

Don't Miss

Andre Ward in Bay Area to Promote Kovalev Rematch

Oakland Post

Click to comment

Activism

Oakland Post: Week of March 18 – 24, 2026

The printed Weekly Edition of the Oakland Post: Week of March 18 – 24, 2026

Published

2 weeks ago

March 22, 2026

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Oakland Post

Posts by Oakland Post

Activism

Oakland Post: Week of March 11 -17, 2026

The printed Weekly Edition of the Oakland Post: Week of March 11 – 17, 2026

Published

3 weeks ago

March 17, 2026

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Oakland Post

Posts by Oakland Post

Advice

Women & Wealth: Tips for Navigating Your Lifelong Financial Journey

Published

3 weeks ago

March 15, 2026

Oakland Post

Sponsored by J.P. Morgan Wealth Management

We are in the midst of a seismic shift in wealth. This phenomenon, often referred to as the “Great Wealth Transfer,” describes the unprecedented movement of assets from the Baby Boomer generation to their heirs – an estimated $105 trillion by 2048. And women are poised to inherit most of this.

J.P. Morgan Wealth Management’s 2025 Investor Study found that women are not only set to receive significant wealth – they’re actively working to build it on their own. Ninety-three percent of women surveyed who are expecting an inheritance aren’t relying on it to reach their goals.

Here are a few tips for women to consider in their wealth-building journey:

Create a financial roadmap

A detailed, well thought out plan is important. J.P. Morgan’s study found that 90% of those surveyed with a plan feel confident about reaching their financial goals, compared to 49% without one.

Your plan should reflect your unique goals, priorities and circumstances. Consider your investment horizon and risk tolerance, and remember to revisit your plan regularly as life evolves.

Are you saving up for goals like buying a house, sending your kids off to college or retiring early? Where do you want to be in the next five, ten or twenty years? Everyone’s financial situation is unique, so it’s important to think about these questions and build a plan that is unique to your life.

Women tend to live longer than men on average. Many take career breaks or care for family members, which can influence long-term planning. It’s important to adjust your strategy with these factors in mind.

Where to start with investing

Don’t let misconceptions hold you back. Starting to invest doesn’t require a large sum, and beginning early can be beneficial. The earlier you start, the more time your money has to potentially grow over the years. Understand your overall financial situation, set clear goals and develop a long-term plan.

It’s important to also make sure you’re covered for unexpected expenses that come up before you start to invest. Build up a cash emergency fund, typically enough to cover three to six months of expenses, and pay down any high-interest debt.

Taking charge of your finances

The good news is that women are taking charge of their finances. J.P. Morgan’s research found that 75% of women respondents make financial decisions with their partner or take the lead themselves. For those who have a spouse or partner, it’s important for each person in the relationship to play an active role in the process.

Building wealth can be empowering for many women. The same survey found that 73% of women respondents said money gives them “security,” while 64% of Gen Z and Millennial women associated it with “freedom.”

The power of having a team

Some people find it helpful to work with a financial advisor, so you don’t have to tackle things alone. An advisor can help you craft a plan tailored to your needs and keep you on track throughout your lifelong financial journey. If you expect to receive an inheritance, you should also consult with estate planning and tax professionals.

No matter where you are on your wealth-building path, education is key. It’s so important to be an informed investor, and there are plenty of resources out there to help. You can find a library of free educational resources at chase.com/theknow.

As the landscape of wealth continues to evolve, women have a unique opportunity to shape their financial futures and those of generations to come. By staying informed and planning ahead, women have the tools to help them confidently navigate the Great Wealth Transfer and set themselves up for financial freedom.

The views, opinions, estimates and strategies expressed herein constitutes the author’s judgment based on current market conditions and are subject to change without notice, and may differ from those expressed by other areas of J.P. Morgan. This information in no way constitutes J.P. Morgan Research and should not be treated as such. You should carefully consider your needs and objectives before making any decisions. For additional guidance on how this information should be applied to your situation, you should consult your advisor.  

JPMorgan Chase & Co., its affiliates, and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction.  