How to Write a Business Plan for a Spa

If you’re thinking about opening your own spa, you’ll need determination, amazing services and a business plan. As a budding spa entrepreneur you will need a road map to help start your spa business and make it profitable. Rather than hiring a business writer to help you construct your business ideas, follow these basics steps and write a winning business plan for your spa.

Things You'll Need

• Sample day spa business plan
• Data and market research
• Resumes of key management team
• Mentoring from SCORE retired executives

Instructions

1. Find a successfully funded business plan to use as an example before you begin writing. Visit your local library for examples of business plans. The Small Business Associations' website also has sample business plans for you to download free of charge. Follow the structure of the plans to create your own business plan for your spa. Determine at this step whether you will need a plan with three year or five year financial projections. If you are presenting your plan to investors ensure that your plan sample is detailed and specific to the spa industry.

2. Gather data, pricing plans and market research. A spa business plan will require background information on your target market, community demographics and revenue model for proper funding. Your information gathering skills are necessary in this step to ensure that your spa business plan is accurate and appropriate. Don’t ignore operations planning in this step. How you plan to run your business is as equally important as pricing and marketing.

3. Meet with representatives at the Small Business Associations’ SCORE office to gain practical knowledge from former entrepreneurs. These small business gurus can answer questions and guide your business with their valuable advice free of charge. Mentoring and support from seasoned entrepreneurs is critical. Without the guidance of former entrepreneurs writing a spa business plan will be difficult and challenging.

4. Determine your staffing plan. How you make money is central to the success of your spa business. Determine how many massage therapists and estheticians you’ll need to generate a profit. If you can’t afford salaries, consider hiring the spa professionals as independent contractors until your business generates substantial revenue.

5. Identify your revenue model. If you’re business will be open seven days a week, determine the number of spa services each technician can provide. Add sales from products into your profit model. Subtract the cost of providing services from your expected gross profit to determine potential revenue numbers.

6. Use the resumes of your management team to write the Executive Summary. Your executive summary is the first few pages of your business plan. It is a summary of your marketing, competition, revenue model, operations and management team. Most venture capitalists and angel investors look to the strength of the management team to determine whether the idea that is written on paper is viable and profitable.

Resources

• Read this Article in Spanish
• How to write a business plan
• Sample table of contents for a day spa business Plan
• Day spa business plan
• Small Business Administration: write a business plan