If you’ve ever desired to operate your own luxury day spa, now would be the ideal moment to begin, so you should at least start looking into various spa equipment that your potential spa should have.
While operating a profitable spa might be hard, the spa business benefits from recession resistance. The explanation is straightforward: when things are difficult, the desire for stress relief grows.
This implies that millions of individuals will attend a spa to de-stress and replenish their batteries. Indeed, at the depths of the 2008 crisis, the spa business in the United States reported over 160 million visits, a rise of over 16% over the prior year, with total sales of $12.8 billion. By 2013, yearly spa visits had grown to 164 million, generating $14.7 billion in revenue.
What makes these statistics even more astounding is the fact that the spa business is mostly comprised of thousands of independently operated spas. While there are several chain spas, neither of them has a monopoly on the market.
Start By Creating A Feasible Business Plan For Your Spa
Operating a spa entails more than being an accomplished practitioner. Additionally, you’ll need a strong business strategy to assist you in identifying possible expenses and developing a workable path. The following are among the critical decisions that a business plan may assist you in operating a successful spa business enterprise.
See to it that you have a visualization of the services that you want to offer as well as the revenue that you need to generate
Although you can provide a variety of services, the International Spa Association defines a business as a spa if it provides at least two of the foregoing: massage, skincare, or body treatments.
By spending the time to properly choose your service offerings, you can make your firm stand out from the competition. For instance, you may opt to concentrate on a few services rather than offering a broad range. Alternatively, you may opt to offer therapies that are not typically seen at those other local spas.
Determine the appropriate spa equipment that you should invest on
You’ll want to weigh the expense of the equipment necessary to provide a certain service against the profit possibilities.
Certain services, such as hydrotherapy, may demand a considerable expenditure, especially if you need to improve your facilities (such as plumbing pipes and electrical wiring) in addition to the equipment’s cost.
You may discover that you need to restrict the first treatments you provide until your spa reaches a certain level of clients, cash flow, plus savings to justify the additional expenditure.
Determine the client-base that you want to attract
Although luxury day spas have historically been viewed as a service largely geared at women, a growing amount of renowned spas are now tailoring their offerings to men and couples.
Considering the area of your spa, you also might want to explore giving corporate clients interesting ways to host business functions.
Consider your operating hours
According to Spafinder Wellness, there have been a lot of spas that have expanded their hours of operation in recent years.
Spas are starting earlier around 7 AM and remaining later at approximately 10 PM to suit everyone’s hectic schedules. The increased popularity of express treatments is a result of the necessity to deliver services to a time-pressed client base. It was even reported that 77% of spas now provide treatments lasting less than 30 minutes.
Determine the type of products that you want to sell
A satisfied, relaxed consumer is more inclined to purchase goods that reminded them of their spa experience. That is why it is critical to offer high-quality goods that complement the image your luxury day spa is establishing.
Determine the metrics of the employees that you want to hire as well as the training that you will need to provide
Once you’ve settled on the services you’ll offer, you’ll have a clearer idea of the personnel you’ll need to fill those jobs.
To maintain a competitive edge, you’ll also want to guarantee that your team consistently offers a superior standard of service and is knowledgeable about current practices. This is where providing a consistent training regimen may assist.
See to it that you know the type of marketing strategies that you will want to employ
As with any retail business, you’ll need to utilize a number of strategies to maintain a continuous supply of new and repeat consumers. This may include developing an SEO-friendly webpage to attract new clients and expedite the booking process, giving monthly or weekly promotions, and establishing a preferred customer email list to communicate with your top customers on a regular basis.
Get the Best Location for Your Luxury Day Spa
Choosing a location for your spa might become one of the most critical decisions you make. If you’re considering buying in an area you’re unfamiliar with, try employing a real estate agent to assist you. They will also have insight into the community and may be aware of new trends that you are not.
Choose a location that is conveniently accessible by vehicle or public transportation, has ample parking, and draws a high volume of foot traffic. The immediate vicinity should be appealing, well-lit, and secure. You’ll want to have retail companies as neighbors, rather than a commercial area such as an industrial park since retail businesses will bring people to your business as well. Additionally, they may remain open late into the night and on weekends, while office buildings are unlikely to do so.
Retain and Train The Right Staff For Your Spa
Regardless of how little the initial investment is, a luxury spa is not a business that can be managed exclusively by one person. It’s a company that, by definition, entails training and supervising people with a variety of talents, experiences, and temperaments. This highlights the critical nature of continuing staff training in ensuring a consistent client experience.
A robust training course becomes even more critical when considering the spa industry’s high turnover rate. Along with the technicians and therapists who will give hands-on services to your visitors, you will likely want assistance with a range of administrative chores, ranging from appointment scheduling to resolving issues with staff members or guests.
Interesting related article: “What is a Marketing Strategy?“