Starting your own spa business can be a rewarding venture if you proceed with an effective plan. Spas appeal primarily to middle- and upper-class working people and stay-at-home spouses who see them as a way of relieving stress and escaping from the pressures of life at work and at home. The business model for a spa is very specific -- quite different from that of a typical restaurant or retail location.
Instructions
1. Create a business plan. Identify the specific services that you want to offer to your target clients and name them in your business plan. Understanding competition is a crucial step that could help you develop a strong and compelling business plan. Your business plan must also contain the theme you want to reflect in your business.
2. Attend a business management skills training course specific to the operations of a spa. Acquiring the technical knowledge specific to the business you want to start helps you to know the best way of offering your services since it helps you to know your target client. Many businesses fail due to a lack of industry-specific knowledge on the part of the owner and operator.
3. Get all necessary business documents in order. Depending on the type of spa you are going to open, you may need to obtain a special license. For example, if you plan on opening a medical spa, you must get a medical license. Most spas do not require a federal license, but your state may require you to obtain one. To know whether you need a license for your spa in your state, you can go to the sba.gov website. You also need to obtain a business permit and request an Employer Identification Number at the Internal Revenue Service office.
4. Choose an effective location for your business, as location is often key to success. Consider places in which a spa would be most successful, such as close to or inside malls, close to other salons and spas or close to shopping centers. Make sure that the location you choose helps you to gain exposure to your target clients. Detail the specific advantages of this location in your business plan.
5. Decide on a source of capital. For a spa business, you may have to apply for a loan because of the substantial monetary requirements. Various financial institutions offer business start-up loans for such ventures. The amount you plan to borrow should be based on your business plan.
6. Visit a specialty store that offers spa equipment. However, do not buy the first items you see, since you still have the chance to compare the prices offered by different stores you intend to check. Some of these stores also maintain online stocks, which may be more convenient for some people.
7. Hire the staff needed for the spa and provide them with the necessary training for the spa services to be rendered.
8. Decide on when to open the spa according to your budget and best season for a spa business. In many places, the months before summer start and the actual summer season are the best season to open an spa, since many people go on vacations. Advertise your spa through practical and effective tools, such as newspaper advertisement, online ad placements and banners.
Tags: business plan, your business, your business plan, your target, best season, helps know