It happened at the Fiji Nail Salon on the 100 block of West Eagle Road in Havertown at 10:30 p.m. on New Year's Eve.
On Thursday, police released surveillance video of the incident.
Investigators said the three masked robbers attacked the business owner as he was entering the salon.
"As he arrived home fumbling with his keys, he was rushed by 3 males all carrying handguns," said Chief John Viola, of the Haverford Township Police Department.
They then tied up the victim and his family and proceeded to ransack the business, getting away with cash and jewelry.
The victim and family members were able to free themselves and call 911.
The business owner suffered injuries to his head and face. He was taken to a local hospital where he was later released.
"They punched him in the mouth, pistol-whipped him and threw him into the wall. You could see a big indentation in the wall," said Viola.
Now, local business owners are re-evaluating their security.
"Every day I'm armed. I stopped carrying for six months. I have my permit, so now I'll carry every day. I have to pay attention to everything," says Dennis Pernaci, who owns a water ice stand and auto body shop down the street.
Anyone with information on the robbery is asked to call the Haverford Township Police Department at 610-853-1298 ext. 1234.