Drafting a business plan certainly isn’t the most thrilling part of setting up a spa business, but a proper plan is a non-negotiable for any type of business. Here’s the short and sweet of your spa business plan.
Step 1: Company description. This is pretty straightforward. Your company description covers your mission statement and the philosophies behind your spa.
Step 2: Finances. If you and math were never besties, maybe you should hand the reins of this off to someone else. Planning your finances can either be what leads your spa to success or runs it into the ground, so don’t underestimate the importance of this step.
Step 3: Target market. Now you can get a little creative and decide exactly who you want your spa to be for.
Step 4: Location. The location of your spa is one of the key pieces to success.
Step 5: Marketing. You can create the most beautiful spa in the world but nobody will know about it unless you do some marketing. Thus, you need to plan out your marketing tactics as well as your budget.
Step 6: Offerings. Many spa owners find that this is their favorite part of the process. This is where you get to sit down and decide what your spa menu looks like – what different services you want to offer your clients.
Step 7: Team. A spa is not a one-person show. It requires a whole team of people to run smoothly. If you don’t already have a team, sketch out the steps you’ll take for finding one, including salaries, bonuses, and benefits.
Step 8: Supporting materials. Though not as exciting, this part of the process includes key things such as business licenses, permits, and more that are required for you to legally run your spa business.
Step 9: Executive summary. This summary gives a quick overview of your plan’s highlights so investors or lenders can see your vision at a glance.
For a more in-depth look at how to create a business plan, read our post Making a Spa Business Plan - 9 Steps for Financial Bliss that gives you all the deets. Once you’ve got your business plan rocking and rolling, the next thing to work on is finding the right spa management system.