Massage Therapy Business Plan

Cite this

Executive summary

In the establishment of this massage therapy business, a budget of about $ 30,000 will be utilized. This figure is not rigid in that it can be adjusted upwards or downwards. The priorities that are core to this undertaking touch on me as the owner of the massage therapy business as well as the business itself. They include the establishment and the maintenance of good relations with clients through such processes as conducting a client appreciation day and making thank you calls, promoting physical fitness through workouts and sufficient sleep, and enhancing mental health through attending mental health seminars and visiting a mental health professional at least twice a year. There is also earning enough cash to support the business and establishing a good social and professional network.

On-Time Delivery!
Get your customized and 100% plagiarism-free paper done in as little as 3 hours
Let’s start
322 specialists online

Apart from the above, the business will require that I identify possible markets. At this point, members of the armed forces and athletes are the key markets. To access these markets, promotional strategies will be employed. Free massages at some selected times of the month for a selected number of customers will be one of the promotional activities. As the business progresses, any part of the plan that fails to work will be adjusted. Success will be monitored through measuring all the measurable indicators such as profits and if the business fails to pick up, it will shut for a while as the plan is rethought over.

Purpose Statement

In line with the American business spirit, community service is closely tied with the desire to meet personal financial targets. In this massage therapy endeavor, I intend to put my massage to use so as to make financial gain for myself and avail the therapeutic power of massage to the people who need it. Massage therapy can help deal with a number of health problems. It will be therefore fair that I give some of the people with some of these health concerns a chance of trying to find out whether massage can actually assist solve their problems I intend to handle the business with unwavering professionalism and proper work ethics as this is the only way to survive in any genuine market. The first obligation is to the customer, who happens to come before anything else. Industry advancement will be monitored and the most advanced practices incorporated as they arise (Aaker 1995, pp.18-19). Refresher training will be undertaken from time to time so as to ensure that any forgotten detail is picked up and applied so as to sustain ensure that service delivery is excellent.

In addition to the above, good financial management will be core to the business. This is the only way to ensure that the required materials are in constant supply and the business is able to sustain itself (Pinson & Jinnet 1999, pp.121-122). Is there any need to run a business that cannot sustain itself? If personal have to be pumped from time to time so as to ensure that the business is up and running, then it is not worth operating. Besides outstanding service to the clients, the deeper purpose of this business includes generating finances for personal support.

Priorities and Goals for the Business

This is not a business that will try to accomplish everything at the same time. There are elements that have been identified as important and these are the ones that will be given the utmost attention. They are the priorities that this business will try to handle.

First Priority and Goals to Accomplish

Priority: Establish and Maintain a Healthy Rapport with Clients

Goal1.Conduct a client appreciation day

Yes, we can!
Our experts can deliver a custom Massage Therapy Business Plan paper for only $13.00 $11/page
Learn More
322 specialists online

Goal II. Provide follow up thank you calls to clients every time a client gets served.

Like any other business, massage therapy as a business will heavily rely on the support of the clients. These are the people who will employ me and their money will help support not only the business but also the other people whose lives will be pegged on the business. In the absence of good relations with these important people, they will not support the business in the required manner and this may drive me out of the market and force me to close shop. It will therefore be my responsibility to ensure that my relationship as a representative of the business with the customers is at its best. Good business relations will make customer feel as comfortable as possible while being massaged at the premises or while getting the massage services at their homes or any other convenient location as agreed between the parties (Stacks 2002, pp.98-99).

All the people working in the business will be given adequate information on how to handle customers so as to ensure that the relationship between the business and the clients is healthy. I will also ensure that service is blameless as this is a sure way of making the customers come back.

The following are some of the goals I will strive to meet as a way of dealing with this first priority

Goal1.Conduct a client appreciation day

In a bid to make customers realize that I understand that I value the part they play in my business, I will conduct a client recognition and appreciation day whereby I will reach out to the customers who have given support to the business. I will do it in a stratified way so as to give more attention to the customers who have shown constituency in seeking massage services from my business. This will be accomplished through proper records for all the customers who show up for services. The ways to do this includes keeping a guestbook for all customers to sign before service and having special cards for each customer to write their full name any time they get served. This goal will increase customer loyalty which will assure me of a continued supply of clients to the business. Presence or availability of customers is equal to business survival (Stacks 2002, pp.23-24). An assessment of the above goal reveals that it meets a crucial aim of the business and is therefore worth pursuing.

Goal II.Provide follow-up thank you calls to clients every time a client gets served.

Cut 15% OFF your first order
We’ll deliver a custom Management paper tailored to your requirements with a good discount
Use discount
322 specialists online

What will this goal achieve? Like the first goal under this priority, the aim is to ensure that customers or clients are made to know that the business takes their patronage seriously and can do all it takes to keep them. Calling a customer each time she or he gets a massage to thank her or him for their useful patronage will show the customers that they are of value to the business. Plans for this will be made in advance to ensure that the contacts of all the customers who are served are within the reach of the business.

It is important to note that this is not a rigid choice in terms of means of saying thank you. Phone calls will be given first priority but in the event that some clients are not accessible through phone calls, emails will be utilized. Therefore extra attention will be paid to ensure that each client who is served is added to the business’s mailing list.

Priority II. Promoting Physical Fitness

Goal I. Working out 3 or 4 times per week

Goal II. Getting sufficient sleep

The promotion of physical fitness simply means that I am able to keep a trim figure not just for aesthetic reasons but also on health grounds. There are high chances that if I do not keep fit, I will fall victim to too much weight which will be a fertile ground for weight related health problems; something I will try to avoid as it will affect the business negatively. In assessing this priority, it is quite appropriate and highly crucial as far as making the business successful is concerned. In order to achieve what is contained in this priority, I intend to meet the following goals:

Goal I. Working out 3 or 4 times per week

Get a custom-written paper
For only $13.00 $11/page you can get a custom-written academic paper according to your instructions
Let us help you
322 specialists online

A careful assessment of this goal reveals that three or four times a week can be ideal for the body. The aim is to ensure that the accumulation of fats throughout the week is shed of and therefore the body is kept in check. Will it be appropriate to share this information with the rest?

As a way of showing clients that the concern for them is not just on their money, information on healthy lifestyles through workouts and other ways will be shared freely as soon as it is available. The means chosen for this task will depend on availability of resources. This means that if there are sufficient resources to make free leaflets on how to keep fit, the business will produce the leaflets and then share them freely with the clients.

Goal II. Getting sufficient sleep

Sleeping for between 6 and 8 hours will mean that the body has sufficient time to rest and regain the lost strength. The brain will also be able to rest in preparation for the next engagement.

Under careful assessment, this goal seems to be one of the best not just for business functionality but for ordinary life too. This means that I should be able to implement the sufficient sleep policy whether I am in business or not. Also, it is good for everybody regardless of the profession.

Priority : Enhance mental health

Goal I. Attending self health seminars at least once a year

Goal II. Visit a mental health professional at least twice a year

The proper functioning of any individual is dependent on their mental health. In a bid to ensure that I am on top of my game at all times, I will ensure that I have the best state of my mind. This will be achieved through meeting the following goals:

Goal I. Attending self health seminars at least once a year

In this seminar, I will be able to learn how to maintain a healthy mind. I will be keen so as to understand all the details so as to be able to apply them ideas at all times.

Goal II. Visit a mental health professional at least twice a year

Mental health experts can be helpful in examining and telling whether one is sick or disturbed mentally. With the workplace getting increasingly stressful, it is possible to get mental problems. I will try to ensure that I have an assessment of my mental health by visiting a mental health expert at least twice a year.

Priority: Earn Enough Income to Improve Lifestyle

Goal I.I will try and make a net minimum $ 30,000 annually.

Goal II. I will try and travel outside USA on vacation twice a year.

As noted elsewhere in this plan, business is not just about satisfying clients’ needs and making enough money to keep the business running. A small amount of money as a profit for the business owner to spend elsewhere is not a bad idea. Therefore I will run the business in such a way that I am able to make sufficient money to support a slightly improved lifestyle.

Goal I. Net minimum $ 30,000 annually: This is not a very huge amount of money. It is low enough to avoid asking for too much compensation for my services and it is high enough to enable me lead a fairly good life. It is however not fixed and can therefore be adjusted either upwards or downwards depending on market conditions.

Goal II.Travel outside USA on vacation twice a year: This is a manifestation of the improved lifestyle that will be as a result of the business venture. It is also not fixed in that if I do not manage to raise sufficient cash to support these abroad vacation travels, I will reduce to one or even travel within the US for vacation.

Priority: Establish a professional and social network.

Goal I. Attend bodywork conventions once a year

Goal II. Maintain online advertisements of massage services and related issues

The best way to ensure that I have a steady supply of clients to my business is by establishing a wide reliable social network. I will work along this lines and enhance my professional outreach too. This will be met through fulfilling the following goals.

Goal I. Attend bodywork conventions once a year

At bodywork conventions, I will not only be able to learn the latest developments in body massage but also meet other professionals in the field of massage. This will assist me expand my professional connections. The friends I will make in the process will become part of my social network as well.

Goal II. Maintain online advertisements of massage services and related issues

With internet technology now being utilized heavily for advertising, people searching for various services have been able to learn that the best way to find out where those services are being offered is online (Wilson 2001, pp.11-13).I will therefore ensure that I have a fully functional website where prospective customers can access all the information they need about my business. I will also buy time on other websites so as to advertise on their sites. In the case of websites that belong to other companies, I will focus on the popular ones so as to increase chances of getting customers.

Priority: Maintain and Advance Massage Skills.

Goal I.Take body related courses

Goal II.Maintain subscription to the New England Journal of Medicine.

The best way to remain relevant and competitive in any business is through continued training. I will do this by:

Goal I.Take body related courses

These courses will expand my massage knowledge thus giving me the ability to serve my clients better. I will mainly be concerned with the latest developments in the field.

Goal II.Maintain subscription to the New England Journal of Medicine

As a way of accessing information on new ideas on therapeutic massage, I will continue being a subscriber of the above mentioned journal. This is because it carries helpful information on massage therapy that will be highly instrumental in my massage business. I am also likely to subscribe to any other journal or magazine that will prove useful to my business.

Target Markets

  1. Military Personnel
  2. Athletes
  3. Other stressed members of the public

Target Market 1. Military Personnel-Both Active and Retired

Massage therapy is very helpful to members of the armed forces given the nature of their profession. I will therefore focus on the military as my primary market. All the members of the armed forces who are active can be able to get these services at the convenience of both parties. I will try my best to reach out to the injured veterans through advertisements and being willing to offer massage services at places of their convenience given the fact that they are injured.

Since 70% of the military subscribe to military periodicals, securing a spot in these periodicals so as to advertise massage services will be beneficial. Attending military installation town hall meetings will also assist me meet possible clients since 60% percent members of the military personnel attend these meetings (Stacks 2002,pp.56-57).This is also a good market given that they utilize massage therapy more than five tem times a yrear.Specifically,80% of them take between 10 and 12 annually. This is an indication that I will get business from this market.

Target market 2. Athletes

Athletes also make use of massage therapy. I will try to secure advertising spots in sports magazines as a way of trying to reach out to this market. I will also approach coaches of school and college teams so as to inform them of the availability of my massage therapy services.

Target market 3. Others

Any other client either referred by a friend or another client will be attended to accordingly. The people who fall in the age bracket of 35-65 experience stress due to numerous issues and are therefore likely to use massage therapy.

Promotional Strategies and Tactics

Nature Of Competition And How I Will Deal With It

The competition in massage therapy is not stiff given that it is a relatively new field. With professional ethics and proper management, this is a field that I can manage and be a leader. The fact that current services are mostly offered in salons and massage parlors gives me an advantage since I will be operating as an individual with a relatively flexible business.

First Promotional Strategy and Its Tactics: Free massage services from time to time:

The tactic here is to offer free second massage for the first ten clients in each month: The aim is to make clients hurry for services at my center.

Second Promotional Strategy and Its Tactic Strategy for Promotion: Mobile Services

Tactic: Adopting a highly flexible schedule so as to attend customers whose busy schedules may require that I go to their residences so as to massage them. This will make busy clients select me as their choice.

Third Promotional Strategy: Giving discount for frequent clients.

Fourth Promotional Strategy: Allowing online booking as a way of easing the scheduling process for clients.

Budget Issues

The beginning budget for the business will be around $ 5,000.This is however a tentative figure that is likely to go down or up depending on what takes which amount of money. However chances of operating above the available resources are not high. There is a high possibility that the available cash is what will go to the business or if possible, slightly less than that.

Much of the cash will go to equipment for the work. This is the most important part of the job.

Change: How to Deal with What Does Not Work

As the business progresses, every element will be under close scrutiny to see whether each area works as it is supposed to. It is possible that some elements will not work out well and therefore will need some action. This action will be in form of adjustments and even removal. This will range from the way clients are dealt with or handle to the way I handle my schedule. Therefore before the commencement of this massage therapy business, an open mind is necessary due to the fact that what will turn out to be inappropriate will have to be dropped regardless of how attached I may be to it (O’Neill 1998,pp.67-68).

Cash flow forecast

Sept. Oct. Nov.

Initial Investment $ 5000 $ 5000 $ 5000

Add monthly income from

fees-20 people per week

at $ 40 per hour $ 5000 $ 5000 $ 5000

Sales

Loans – – –

Other

Total cash + Income $100000 $100000 $100000

Expenses

Rent $100 $100 $100

Utilities $100 $100 $100

Telephone $50 $50 $50

Bank fees $10 $10 $10

Stationery $10 $10 $10

Supplies $10 $10 $10

Insurance $10 $10 $10

Auto $10 $10 $10

Entertainment $ 100 $100 $100

Travel $500 $500 $500

Taxes $100 $100 $100

Other Expenses $10 $10 $10

Total Expenses $1010 $1010 $1010

Ending Cash (-/+) $8990 $8990 $8990

Measuring the Success of the Plan

There is no way that a business can run without an honest assessment of its successfulness. This is done through the measurement of all measurable indicators. Some of the ways to determine the success o the plan will be through the measurement of the amount of money that the business will have generated as profits after a given operational period. Also, the number of clients served, the number of positive reviews the business will be getting, and the level of satisfaction of anyone assisting in the business as staff will be helpful in determining the level of success of the plan.

Plan B: Exit Plan If the Business Plan Fails To Unfold Successfully

In the event that the business does not pick up, I will be able to know this within the first half a year. I will look for a successful group or individual in the field and try to work with him or her. If this fails, I will try to sell off the equipment and take a break as I rethink my strategy.

Conclusion

Establishing a business is a demanding process. But with the best plan, it is not that demanding. With due assessment, the above layout seems credible. With clear budget targets, advertisements choices, market targets and promotional activities, the business will definitely pick up. This is however not express and rethinking the strategy will be an option in the event that the unfortunate phenomenon of failure befalls this massage therapy business.

References

  1. Aaker, D. (1995).Building Strong Brands. New York: Free Press.
  2. O’Neill, J. (1998). The Market: Ethics, Knowledge And Politics. London: Routledge.
  3. Pinson, L & Jinnet, J.(1999).Anatomy Of A Business Plan: A Step-By-Step Guide To Starting Smart, Building The Business, And Securing Your Company’s Future (4th ed.).New York: Dearborn Financial Publishing.
  4. Stacks, D. (2002).Primer Of Public Relations Research (1st Ed.).New York: The Guilford Press.
  5. Wilson, R. (2001).Planning Your Internet Marketing Strategy: A Doctor Ebiz Guide (1st Ed.).New York: Wiley.

Cite this paper

Select style

Reference

BusinessEssay. (2021, December 2). Massage Therapy Business Plan. Retrieved from https://business-essay.com/massage-therapy-business-plan/

Reference

BusinessEssay. (2021, December 2). Massage Therapy Business Plan. https://business-essay.com/massage-therapy-business-plan/

Work Cited

"Massage Therapy Business Plan." BusinessEssay, 2 Dec. 2021, business-essay.com/massage-therapy-business-plan/.

References

BusinessEssay. (2021) 'Massage Therapy Business Plan'. 2 December.

References

BusinessEssay. 2021. "Massage Therapy Business Plan." December 2, 2021. https://business-essay.com/massage-therapy-business-plan/.

1. BusinessEssay. "Massage Therapy Business Plan." December 2, 2021. https://business-essay.com/massage-therapy-business-plan/.


Bibliography


BusinessEssay. "Massage Therapy Business Plan." December 2, 2021. https://business-essay.com/massage-therapy-business-plan/.