Here is how to write a massage business plan.
Investing in successful massage businesses depends on how well your strategies are. Of utmost importance is your plan.
Thus, we have written this massage therapy business plan for your use. This is an area where lots of entrepreneurs have encountered difficulties.
Massage Therapy Business Plan Sample
By simplifying our approach, we are making it much easier for you to understand and follow. There are several aspects of a plan. And each needs to be properly addressed. You will find some of the most relevant sections you shouldn’t ignore.
GUIDE: Choosing A Catchy Massage Name
Here is a sample business plan for starting a massage therapy parlor.
– Executive Summary
Ojay’s Massage Parlour ™ is a massage business concept conceived by the duo of Carlos Menendez and Julio Pablo. These friends have over a decade and a half of experience each.
To be located in the bustling city of Santa Monica, this business targets both young male and female clients. Over the years, we’ve gained a deeper understanding of client needs. This is in addition to how the industry works.
Thus this isn’t a strange turf for us as we seek to set up our own business. At Ojay’s Massage Parlour ™, we offer several massage services. These will be discussed shortly.
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Products and Services
We are a business that values our clients. Hence, we have included several services. These are deep tissue massage, sports massage, prenatal massage, lymphatic drainage, and myofascial release.
Others are Swedish massage Ashiatsu Oriental Bar Therapy, energy balancing therapy, duet side-by-side massage and trigger point massage, etc. All these services are very affordable and of the best quality.
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Mission Statement
We have a mission to not only serve a growing industry but also to make our mark. This will be achieved through deliberate efforts targeted at promoting our business.
Therefore we have a clear goal; to break into the major league. This is achievable through concerted efforts at running a highly efficient business.
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Vision Statement
We are committed to building a strong brand. Hence our attention to hiring is only the best. These are professionals having all it takes to drive a business towards success. Therefore we have been careful to choose those who understand our message.
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Financing
About $150,000.00 (representing 50%) of our financial requirements has been realized. This was sourced from savings contributed by the founders. The rest will be sourced from loans that will be applied soon.
Subsequently, after getting the required funds, expenses will be incurred. So, about 65% of this amount will go into the purchase of equipment, rent, and utilities. 35% will be reserved for running costs. This includes the payment of staff wages for 6 months.
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SWOT Analysis
There needs to be a broad understanding of your strengths and weaknesses. That is to say your strengths, weaknesses, opportunities, and threats. These are encapsulated in the SWOT acronym. Therefore we have taken steps to measure our competitiveness. The feedback has been encouraging and reveal the following;
i. Strength
Our efficiency as a business is fuelled by a deep passion. Such passion encompasses our jobs as well as satisfying our client’s needs.
For the owners, this has been a tradition they want to bring alive in new business. However difficult things may seem at the beginning, we are confident of overcoming them. There is also the case of staff welfare. We are particular about the motivation of our staff.
As a result, we’ve committed significant resources to ensure our staff is well taken care of. The work environment has also been made work-friendly. This maximizes productivity.
ii. Weaknesses
Some weaknesses have been identified. These are in the areas of our current capacity to compete favorably with major massage therapy services. This problem is short-lived as we seek to expand in the nearest future.
By so doing, our capacity will be enhanced and we’ll be able to compete for a sizeable share of the market.
iii. Opportunities
Massage therapy is a field that always churns out opportunities. Hence it is left to entrepreneurs to either take advantage or not. We are strategically positioned to reap the benefits.
However, this depends on how well we organize our activities. We streamlined our operations to take advantage of this. A clear opportunity is the increasing number of people as well as the frequency of visits to massage therapists.
iv. Threats
Threats can sometimes be unforeseen as well as imminent. At Ojay’s Massage Parlour ™, threats are in the form of natural disasters such as earthquakes and hurricanes, etc.
This causes significant disruption and can affect our business adversely.
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Competitive Advantage
This is one area we have put in a lot of effort. But why should we?
Because we’ve realized that a massage therapy business thrives to the extent it can offer clients a better deal. Clients are interested in the minutest detail. We are equal to the task as we strive to exceed their expectations.
Above all, it boils down to the quality of our workforce. This is a clear advantage we have more than several competitors.
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Industry Trends
This is an important part of doing business we’ve paid close attention to.
Thus, we’ve noticed that massage therapy is patronized mostly by people within the middle and upper classes (economic) of society. However, as the middle class grows, there is an increase in demand for massage services.
All these facts would be built into our massage therapy advertising model.
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Sales Projection
An important way to measure your sales projection is by comparing the average earnings within the industry.
That’s what we’ve done and have come up with projected earnings covering a three-year timeframe. This gives us an estimate of what to expect.
The figures below are what we arrived at;
- First Fiscal Year. $200,000.00
- Second Fiscal Year. $350,000.00
- Third Fiscal Year. $600,000.00
Our massage therapy business plan sample has discussed some of the most vital sections everyone should include. It allows for greater focus, detail as well as better implementation.
As always, simplicity is key. By avoiding all forms of complications, you will stand a better chance to establish a thriving massage therapy business.