This guide is designed to help you write a comprehensive business plan for your massage or spa business. You can use this as a template for your own massage company or one already in operation.
All of the information typed here has been gathered from past research and will give you an accurate depiction of making your business successful. However, please remember these are only suggestions. There may be some pieces of advice not mentioned here to help any particular company succeed.
Suppose you do not agree or like some of these tips, feel free to select what works best for you or leave the rest out. This is just a detailed reference; we encourage each reader to take their spin on this and make it their own.
So, how to write a massage business plan?
Executive Summary
The executive summary should be the first thing any reader sees when they pick up your business plan. This is where you introduce your company’s mission, vision, and goals to them in a short, concise paragraph or two.
It should be written so that an individual who does not know anything about your business can understand what you do and why you do it unique compared to other companies in this same industry.
Make sure not to skimp on the executive summary, as this section is often used by many investors looking for new opportunities so they can quickly weed out those proposals that are of no interest to them, and only read those with potential.
Be clear and straightforward but also add a touch of personality to show your business is more than just another massage or spa service out there.
Company Description
The company description should include everything that encompasses your entire business, from the owners and their involvement, what products and services you offer, where you plan on operating, and any other detail relevant to your specific massage or spa company.
Feel free to add pictures or diagrams if you think it will help readers fully understand what makes your company unlike others operating in this same industry when writing this guide.
In here, try not to get too specific with dates, times, or dollar figures as that is all information that will be given in later sections of this guide, and for this section, stick to the basics.
Product or Service
In this section, you will need to explain in detail what type of massage or spa services you offer your consumers and any other services relevant to your business, such as hair salons, tanning salons, nail salons, and so on. If appropriate, you can add more than one type of service, but make sure that each service is clearly defined here.
If you have multiple locations, include a brief description of each location’s unique features and how they benefit consumers visiting them. Also, consider an online massage scheduling system to make it easier for customers to book a session in any of your salons. Do not go into any specific details about prices of products/services offered either at this time or in the future because it will be covered later on when discussing the marketing and sales plan.
Target Market
The target market is significant for any company to identify because it will allow you to get a clear understanding of who your main consumer base is at any given time. If you target everyone, potential consumers could feel overwhelmed by this and decide not to pursue your services or purchase anything from your business website.
It would be best to narrow your target audience into specific groups that can be more easily reached through existing advertisements, social media platforms, etc.
This section should include info on why they buy things, like what drives them to visit spas/massage businesses in general? What do they look for in a spa/massage experience when deciding which company to choose? Who are they as individuals, and what age group do they belong to?
Once you answer those questions, the next step is finding ways to reach them, which we will discuss in detail throughout this guide.
Competitive Analysis
If your massage business is only targeting one type of client, such as women over 45 with incomes under $80K, then you can skip this section because it would not be relevant for that target market since there aren’t many similar businesses out there targeting this specific demographic at the time of writing this article.
If your company offers multiple products or services and competes with other businesses providing similar services, you should precisely define who those competitors are by location, what services they offer, and how they are different from you.
If your business is the first of its kind to market, then briefly explain how you plan on creating a competitive advantage over current and future competitors in this industry.
This section will also need to include an analysis of your company’s weaknesses and strengths, such as what existing services may not be up to par with what clients expect when receiving spa/massage services? Do you have enough employees working to handle high traffic times, or do you need more employees?
Marketing and Sales Plan
This section will detail how you plan on marketing your spa/massage business online and offline through traditional advertising, social media outlets, and so forth. Here, we get into specific details about marketing your business and specific strategies to attract potential consumers.
This section may include how large of a budget to allocate for advertising, where you plan to purchase ad space, the times to run ads during the day/week/month at different locations, and what types of messages are conveyed through those advertisements.
If you have any preparation done already, such as mock advertisements or market research completed, please include it here.
Operations Plan
This is one of the most critical sections of your business plan. Many companies fail due to a lack of attention paid to their internal operations after successfully receiving funding from investors.
The operations plan should be written with detailed explanations on who you intend to hire, their skills/qualifications when you plan to hire them, where they will be located, and what roles they play in your business.
You should also include an estimated timetable of how quickly you hope to hire new employees after receiving investments. This is crucial because if you cannot find the right people to hire, then your company’s productivity levels could suffer, putting its long-term sustainability at risk.
Management Team
This section should not be mistaken for a resume or biography about who each person individually is in terms of education, work experience, and personal interests.
- We are interested in learning more about the team by understanding how everyone works together to achieve common goals through collective efforts
- What unique skills/talents does each individual bring to the table that benefits the team as a whole?
- How have past experiences in this business or industry helped prepare them for their roles within your company?
Development Plan and Milestones
This section should include a timeline of planned services development, including how many employees will be working on what task(s) at different time intervals over one year.
If you plan to buy new equipment, for example, we find out who will be handling that transaction between you and any potential third-party vendors you may purchase equipment from. It is always best to buy used equipment on online marketplaces because these items are often cheaper while still being in good working condition.
Additionally, there should also be a section dedicated to the milestones your company plans on achieving over one year or even five years.
Based upon these milestones, you can determine how much money will need to be invested in annual maintenance/upgrades, which helps investors understand how much stable funding your company will require at different time intervals.
Financials
The financials are arguably the most critical part of your business plan because we find out precisely what sort of funding you plan on needing from outside sources like friends and family, angel investors, or venture capitalists, for example.
This section may also include information about profits/losses that occurred during previous years if this is available; otherwise, just focus on future potential growth. Furthermore, if you have already conducted market research or a SWOT analysis in preparation for this plan, then include a summary of what you have found out so far.
Conclusion
These tips will assist you in preparing a more comprehensive and detailed business plan that highlights the value of your massage spa to any potential investors or financial partners. If you are just getting started, do not worry about including all sections above because these can be added later on as your company grows stronger.
Furthermore, it is also essential to understand many different business plans, so please modify this template as needed based on your unique circumstances.
