A business plan is the first step in setting up a business successfully in any sector.
It details the steps to follow to ensure the massage center is profitable.
Here we tell you how to create a business plan for a massage center or spa and the steps it must include. Download the free PDF.
Steps to implement a business plan
Step 1. A business plan is a written description of how the business will function and the strategies that will be taken to ensure its success. It sets out the plan and how to make it happen. Although each company has its own history, there are some generally accepted conventions about what a complete business plan should include and how it should be presented. Firstly, the famous questions: what, when, who, where, why and how. By answering these questions in the right way, the business will include all aspects necessary for success.
"Going into a business without a business plan is like hiking in the mountains without a map or GPS - eventually you will get lost and starve!"
A business plan for a spa should begin with a list of the services to be offered. For example, head, neck, back, foot massages, aromatherapy and if relaxing oils or any other product will be sold.
It should also be specified whether or not to apply for a bank loan or venture capital. A spa business plan will give clarity on where the business is heading and is a useful tool to stay organized and on track.
Business plan for a massage center or plan
The relaxation and massage business has grown exponentially in recent years. According to Jeff's market research, the growth projection of the sector from 2017 to 2022 is 36%, with a turnover of $110 billion US dollars.
We live in a constantly moving and stressful world, which is the main cause of many illnesses. More and more people have become aware of the importance of taking care of their health and, in addition to doing sports, they have started to include massages as part of their daily lives. As a result, demand and customer recurrence has also increased.
All this has made the massage market grow fast and it has become a great business opportunity to invest in because it offers a solution to people's stress problems.
Although the massage center business has great potential, understanding the importance of a business plan is critical to making it work and succeed.
➡️ If you don't want to make a whole plan, a good option is to buy a massage franchise, since these include everything you need to start a business. In addition to giving you the brand, which is very important because people often turn to well-known businesses, signing a franchise contract can carry less risk than starting a business completely from scratch because they give you all the know-how to avoid making mistakes that can harm the business, train you and provide ongoing advice.
Keys to a successful business plan
It’s important that each business plan answers all 5 questions. As stated above, the main goal of a business plan is to understand your products and/or services.
The following topics should be explained in the document:
- Basic business concept
- Implementation strategy and actions
- Competitive advantages
- Target audience
- Financial needs
1. Basic business concept
You need to explain whether the business is attractive or not as well as explain and document the following:
- The industry
- The business structure
- Introduction of the product or service.
- The plan to do business
2. Implementation strategy and actions
After introducing the product or service, this is where the following questions should be answered:
- What are the specific goals of this business?
- When and how will these goals be met?
This is the body of the plan and one of the most important parts, the heart of the spa business plan.
3. Competitive advantages
At this point in the business plan for a massage center, we should ask ourselves what makes us different from the competition and what additional services we offer. Why would customers want to buy these products and/or services from us and not from the competition?
This is where we can impact future customers
4. Target market -> Marketing plan
Here is all about the current and potential customers:
- What profile are you looking for?
- Who are you going to target, what gender, age group, socioeconomic status, city, country, etc.
- What methods will be used to get the specific audience.
- How will it impact customers and what strategies will be used to make them buy again and get more profit?
5. Financial needs
Starting a massage or spa business can be more expensive than people think. When writing a business plan, it’s important to write down all the equipment and required elements that will be needed, such as: the premises, special massage chairs, tables, etc.
These elements will need to be factored into the budget to ensure that the business is financially viable. These statements provide a financial projection of what will be paid month-to-month, between fixed and variable costs, and how ideas, their markets, and their strategies will develop.
It’s important to remember that a business plan is based on facts and not feelings. Entrepreneurs must stick to projections and numbers rather than hopes and think about realistic earnings expectations instead of focusing on dreams of wealth.
This section is about provable facts because this is where the most important component of all comes in: CREDIBILITY
A massage center business plan is a great tool that allows founders to present their vision and plans for a project. When using any business plan format, there are standard questions that force everyone to think, analyze, create a long-term vision and strategy for the idea. It’s been proven that writing things down on paper helps to track progress and have better control of the business.
“Business planning is incredibly helpful in describing what you're doing, understanding who your competitors are and coming up with a realistic 3-5 year plan. Each of these activities is crucial if you want to launch or expand a business, no matter what stage you are in." - Garrett Neiman, College Spring
➡️ Santiago Vernetta, Head of Relax Jeff, tells us all about the franchise.
➡️ Mario Cruz, owner of the first Relax Jeff in Mexico, tells us his experience.