Are you interested in starting a physical / massage therapy business? If YES, here is a complete guide to starting a physical / massage therapy business from scratch with little money and no experience.
Okay, so we have provided you an in-depth sample physical / massage therapy business plan template. We also took it further by analyzing and drafting a sample physical / massage therapy service marketing plan backed up by actionable guerrilla marketing ideas for physical / massage therapy businesses. In this article, we will be considering all the requirements for starting a physical / massage therapy business. So put on your entrepreneurial hat and let’s proceed.
It is very needful for people to have a good relaxation time after a long day’s work. This is exactly what the physical and massage therapy business is all about. Those who have started this trade have done so well by helping people to solve the problems associated with stress and relation. As such, starting this business in the United States of America is one of the nicest things to consider as there is sure a great return on investment.
What Does It Take to Start a Physical Therapy Service Business?
So, of course you know that you cannot just start this trade without first being equipped with the right information that will help you sail through the hurdles of the teething stage that affects every business. This type of knowledge can be acquired by engaging in research or having an expert pull the strings for you.
After all that has been done, then it becomes needful to have your business plan in place son that you can have a good roadmap to launch out with. There are loads of information that would be required to be contained in your business plan. Stuff like your sales projection, your marketing plan, your means of sourcing for startup funds, and a host of many other things that is really imperative.
To start with, drawing up this plan might not come across as easy, but there is a short cut that makes it really simple. One of these short cuts is using an existing business plan template to write yours. This is one very easy and smart way to cut out some difficulty that might cause for a poorly written business plan.
Here is a sample physical / massage therapy business plan;
A Sample Physical / Massage Therapy Business Plan Template
- Physical / Massage Therapy Industry Overview
Beyond every reasonable doubt, people are becoming more conscious of their health and well-being more than ever before. People are now willing to create budget that will help them stay fit and health which is why they subscribe to gyms and physical / massage therapy centers or spa. This is because of the high volume of information that keeps circulating daily on the media about the need to be healthy and fit always.
Generally, physical / massage therapists provide health and wellness services, such as therapeutic massage, sports massage, and other similar services. As a matter of fact, close to 50 percent of physical / massage therapies performed are considered to assist with specific health conditions and injury rehabilitation compared to one third of those who received massage for relaxation and stress management.
When we talk about physical or massage therapy business, we are talking of a profitable business that involves offering healthcare related services that helps people get fully healed from an ailment or to help people soothe their muscle soreness, improve their sleep, boost their immune system function, increasing their mental alertness, ease the effects of cancer treatment, aid headache sufferers, alleviate depression, and ultimately reduce stress
Over the last half a decade, there has been a significant increase in stress level amongst the world population. As a matter of fact, more people are becoming unhealthy and this perhaps is due to their lifestyle hence the increase in the demand for the services of physical or massage therapist.
Going by the recent statistics released by the American Massage Therapy Association (AMTA), it reveals that in the 12-months to July 2013, 16% of adults in the United States received at least one professional massage services and with over 35 million American adults finding health benefits in massage treatment. This statistics goes to show a remarkable growth in demand over the last 5 years. The physical / massage therapy industry in the United States of America is rakes in about $8 and $10 billion in 2013 alone.
If you keep tabs with the industry, you will realize that the industry is indeed growing which is why massage franchises are now selling faster than before. It is now easier to find massage centers in places that ordinarily you would not find one; places such as airports, business districts, and farmers ’ market and even in shopping malls et al.
Over and above, with over 360 accredited places of study in the US and an estimated 300,000-350,000 massage therapy students in the United States, there is indeed a bright future for entrepreneurs who are considering launching their own physical / massage therapy centers.
Physical / Massage Therapy Business Plan – Executive Summary
Kate ‘n’ Ken™ Massage & Wellness Center is a licensed massage and wellness center that will be located in San Diego California which happens to be the 8th largest city in the United States of America with a population of an estimate of 1.4 million people. Aside from the fact that we will start our business in San Diego, we intend to have a very strong presence in the whole of California.
Kate ‘n’ Ken™ Massage & Wellness Center is in business to offer health care services as it relates to massage and wellness. Our center will offer services such as therapeutic massage, sports massage, and other similar services; we will offer our physical / massage therapies in a variety of styles like hot stone massage, traditional Swedish massage, sports massage, deep tissue work, and reflexology et al. We are well trained, equipped and positioned to offer physical / massage therapies in a systematic way to individuals, families or communities in a caring, and professional environment.
We are in the massage and wellness business to deliver excellent healthcare services to all those who will patronize our services. We will also ensure that in the line of carrying out our duty, we comply with the laws and health regulations in The United States of America. One thing is certain; our clients will definitely get fully healed from their ailment. We will work hard to help people soothe their muscle soreness, improve their sleep, boost their immune system function, increasing their mental alertness, ease the effects of cancer treatment, aid headache sufferers, alleviate depression, and ultimately reduce or eliminate their stress level.
Kate ‘n’ Ken™ Massage & Wellness Center will operate a 24 hours 7 days a week physical / massage therapeutics service; our office facility will be open round the clock to attend to clients and we will also offer home services. Our work force is going to be well trained to operate within the framework of our organization’s corporate culture and also to meet the needs of all our customers. We have put structure in place that will enable us accept insurance payments as well as private-party payments from our clients.
Kate ‘n’ Ken™ Massage & Wellness Center will ensure that all our clients are given first class treatment whenever they visit our massage and wellness center. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base grows.
Kate ‘n’ Ken™ Massage & Wellness Center is a family business that is owned and managed by Dr. Kate Stephenson and family. Dr. Kate Stephenson is an international licensed Massage Therapist with a robust experience and education in the industry that cuts across the United States, Canada, United Kingdom and Japan. She will be bringing in her experience and expertise to help the organization grow to become one of the leading massage therapy and wellness center in the United States of America.
- Our Services
Kate ‘n’ Ken™ Massage & Wellness Center is in the business of massage therapy and wellness with the goal of becoming a leader in the industry. We will ensure that our services are geared towards soothing muscle soreness, improving sleep, boosting immune system function, increasing mental alertness, easing the effects of cancer treatment, aiding headache sufferers, alleviating depression, reducing stress and helping our clients fully recover from their ailments.
These are the massage therapy and wellness health care services that Kate ‘n’ Ken™ Massage & Wellness Center will be offering;
- Traditional Swedish Massage
- Deep Tissue work, Sports Massage
- Hot Stone Massage
- Occupational, Physical, and Speech Therapy
- Massage Therapy
- Physical Therapy
- Mobility Therapy
- Water Therapy
- Gym Therapy
- Mobility Therapy
- Physiological Therapy
- Driving Therapy
- PDSD Therapy
- Aroma Therapy
- Riekie Therapy
Our Vision Statement
Our vision is to become the number one choice when it comes to physical / massage therapy and wellness service delivery in the whole of San Diego – California and also to be amongst the top 10 physical / massage therapy and wellness service provider in the United States of America within the next 15 years.
- Our Mission Statement
Kate ‘n’ Ken™ Massage & Wellness Center is in business to establish a first class massage therapy and Wellness Company that will take care of both highly placed clients and lowly placed clients as long as they can afford our services. We want to become one of the leaders in the industry in The United States of America.
- Our Business Structure
Kate ‘n’ Ken™ Massage & Wellness Center is a business that will be built on a solid foundation. From the outset, we have decided to recruit only qualified professionals to man various job positions in our organization. We are quite aware of the rules and regulations governing the massage therapy and wellness industry which is why we decided to recruit only well experienced and qualified employees as foundational staff of the organization. We hope to leverage on their expertise to build our business brand to be well accepted in San Diego and the whole of the United States.
When hiring, we will look out for applicants that are not just qualified and experienced, but honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers). As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more.
These are the positions that will be available at Kate ‘n’ Ken™ Massage & Wellness Center;
- Chief Executive Officer (Owner)
- Massage Therapist
- Exercise Physiologist
- Training / Gym Instructor
- Marketing Executive
- Cashier (Counter Agent).
Roles and Responsibilities
Chief Executive Officer:
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Attends to high profile clients and severe medical cases
- Responsible for fixing prices and signing business deals
- Responsible for recruitment
- Responsible for payment of salaries
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for providing professional massaging services to our patients
- Responsible for offering occupational, physical, and speech therapy
- Ensures that clients / patients follow through recovery or healing plans as agreed
- Responsible for evaluating, researching, and provide advice on coaching.
- Responsible for training
- Engage in recovery practices in all areas of exercise and rehabilitation
- Provides timely information and supports on injury prevention, technique analysis, and nutrition.
- Handles any other duty as assigned by the manager
Training / Gym Instructors
- Creates training rosters for members
- Assists members during exercise session
- Guides members on how to make use of gym and fitness equipment
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information as it relates to those who need our services
- Sources for clients for the company
- Responsible for promoting the company’s image
- Responsible for creating marketing and sales strategies, etc.
- Represents the organization in some strategic business meetings
- Handles any other duty as assigned by the floor manager (Pharmacist)
Accountant / Cashier (Counter Agent):
- Receives payments on behalf of the organization
- Issues receipt to customers
- Prepares financial report at the end of every working week
- Handles financial transaction on behalf of the company
- Interfaces with our bankers
- Responsible for payment of tax, levies and utility bills
- Handles any other duty as assigned by the office
- Responsible for cleaning the spa facility at all times
- Ensures that toiletries and supplies don’t run out of stock
- Cleans both the interior and exterior of the spa facility
- Handles any other duty as assigned by the spa manager
Physical / Massage Therapy Business Plan – SWOT Analysis
Kate ‘n’ Ken™ Massage & Wellness Center is set to become one of the leading massage therapy and wellness service providers in San Diego which is why we will ensure that we are well trained and equipped to carry out or duties. We want our massage therapy and wellness center to be the number one choice of all residence of San Diego and other cities in California. We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process in setting up the business.
We ensure that we hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business to indeed become a leader in the massage therapy and wellness industry.
This is the summary of the SWOT analysis that was conducted for Kate ‘n’ Ken™ Massage & Wellness Center;
Our strength lies in the fact that we have a team of well qualified professionals manning various job positions in our organization. As a matter of fact, they are some of the best hands in the whole of San Diego. Our location, the business model we will be operating on, opening 24 hours daily and 7 days in a week, home services, multiple payment options, well equipped gym and our excellent customer service culture will definitely count as a strong strength for us.
Our perceived weakness lies in the fact that we are just starting out and we may not have the required finance to sustain the kind of publicity that we intend giving the business.
The opportunities that is available to massage therapy and wellness service providers are unlimited considering the fact that we have a growing population that are prone to stress in the United States and we are going to position our business to make the best out of the opportunities that will be available to us in California.
Just like any other business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies (healthcare reform). It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new and bigger / well established massage therapy and wellness brand in same location where our outlet is located.
Physical / Massage Therapy Business Plan – MARKET ANALYSIS
- Market Trends
If you keep tabs with the trends in the massage therapy and wellness industry, you will agree that the industry is indeed growing which is why massage franchises are now selling faster than before. It is now easier to find massage centers in places that ordinarily you would not find one; places such as airports, business districts, and farmers ’ market and even in shopping malls et al.
No doubt it has been a booming era for the massage therapy and wellness profession of late, with client acceptance at an all-time high and endorsement within the medical and healthcare industry continuing to gain support with more to come. This is so because more and more people are becoming more aware of what they need to do to eliminate stress and to stay well and healthy.
Going by the reports made available by the International Spa Association (ISPA), those who patronize massage therapy and wellness centers expect more from their spa visits than just feeling pampered and relieved of stress; they want to engage in gym activities and also healthy eating habits. It is a fact that more than one out of 10 spa-goers treat the experience as part of a larger health and wellness lifestyle. In view of that, it is now easier to find massage therapy and wellness centers incorporating other related services such as fitness and diet into the traditional spa menu, alongside services like wraps and facials. These are some of the creativity that is invented into the business that was not there before.
It is a common trend that as spas grow, it becomes necessary for them to develop new service offerings or install new facilities that will help them attract more people. Little wonder some massage and wellness centers now have juice bar within their facility to encourage people towards healthy drinking. In order words, it is very important for spas to continue to improvise if they want to grow their business and generate their target revenues.
Over and above the health industry of which massage therapy and wellness services falls under is indeed a thriving and dynamic industry; with the aid of technology, it is becoming easier to treat, manage and cure some ailments that before now are not easy to handle.
The massage therapy and wellness industry will continue to grow and become more profitable because the aging baby-boomer generation in Unites States and the increase in stress level amongst the average adults are expected to drive increasing demand for these specialized services.
- Our Target Market
The target market for massage therapy and wellness services cuts across people of different walks of life. The fact that people register in spas or gyms and fitness clubs for various reasons makes marketing the business interesting. The target market for massage therapy and wellness services can be categorized into three various groups.
The first group are the people who are looking towards eliminating stress (to become relaxed), those who are looking towards recovering from an ailment and lastly those who are looking towards staying healthy, and shedding weights through proper exercising and under the guidance of a qualified instructor.
Kate ‘n’ Ken™ Massage & Wellness Center will work towards providing services, facilities and environment that will help us reach out to our target market. These are the category of people that we intend marketing our massage therapy and wellness services to;
- Corporate Executives
- Business People
- Sportsmen and Sportswomen
- Young Couples
- Elderly people
- Expectant Mothers
- Injured Sports Men and Women
- The aged who might suffer from severe joint pains and every other age categories who falls under the conditions listed by the physician.
Our Competitive Advantage
Before setting up Kate ‘n’ Ken™ Massage & Wellness Center, we are quite aware that the competition in the industry on the increase which is why we decided to conduct a thorough market research and feasibility studies so that we will be well trained and equipped to favorably compete in San Diego – CA. As a matter of fact, we will offer massage therapy and wellness services that are effective and efficient with uttermost professionalism and respectful with the boundaries of our clients.
We will ensure that every experience that our clients get when they visit us are pleasurable experiences that will make them want to come back over and over again. We will also ensure that we only make use of quality supplies (massage oil and lotions) and create the environment and ambiance that will be relaxing and welcoming.
We are quite aware that to be highly competitive in the massage therapy and wellness industry means that you should be able to deliver consistent quality service, your clients should be able to experience remarkable difference cum improvement and you should be able to meet the expectations of the physicians that referred patients to you.
Kate ‘n’ Ken™ Massage & Wellness Center is coming into the market well prepared to favorably compete in the industry. Our spa facility is well positioned (centrally positioned) and visible, we have enough parking space with good security.
Our staff is well groomed in all aspect of massage therapy and wellness service delivery and all our employees are trained to provide customized customer service to all our clients. our services will be carried out by highly trained professional massage therapists, wellness coach, gym instructor, physiologists, chiropractors, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors et al who know what it takes to give our highly esteemed customers value for their money.
We are going to be one of the few massage therapy and wellness service providers in the whole of California that will offer home services and also open for business 24 hours a day and 7 days a week. We have enough trained therapist and wellness professionals that are ready to run a shift system.
Physical / Massage Therapy Business Plan – SALES AND MARKETING STRATEGY
- Sources of Income
Kate ‘n’ Ken™ Massage & Wellness Center will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry. Below are the services we intend offering in order to generate income for Kate ‘n’ Ken™ Massage & Wellness Center;
- Traditional Swedish Massage
- Deep Tissue work, Sports Massage
- Hot Stone Massage
- Occupational, Physical, and Speech Therapy
- Massage Therapy
- Physical Therapy
- Mobility Therapy
- Water Therapy
- Gym Therapy
- Mobility Therapy
- Physiological Therapy
- Driving Therapy
- PDSD Therapy
- Aroma Therapy
- Riekie Therapy
Every business that have grown big and become successful at one point of the other made sales forecasting. One of the importance of this is o that you can meet and surpass your goals. It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field.
Below are the sales projections that we were able to come up with for the first three years of operations;
- First Year-: $120,000 (From Self – Pay Clients): $250,000 (From Health Insurance Companies)
- Second Year-: $270,000 (From Self – Pay Clients): $500,000 (From Health Insurance Companies)
- Third Year-: $550,000 (From Self – Pay Clients): $1,500,000 (From Health Insurance Companies)
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within 4.5 miles radius from our massage and wellness center facility. Please note that the above projection might be lower and at the same time it might be higher.
Physical / Massage Therapy Business Plan – Marketing Strategy and Sales Strategy
The marketing and sales strategy of Kate ‘n’ Ken™ Massage & Wellness Center will be based on generating long-term personalized relationships with customers. In order to achieve that, we will ensure that we offer top notch all – round message therapy and wellness services at affordable prices compare to what is obtainable in California.
Aside from the strategic location of our business, all our employees will be well trained and equipped to provide excellent and knowledgeable massage therapy and wellness services at all times. We know that if we are consistent with offering high quality massage therapy and wellness service delivery and excellent customer service, we will increase the number of our customers by more than 25 percent for the first year and then more than 40 percent subsequently.
Before choosing a location for our massage therapy and wellness center, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of San Diego, CA and other cities in California where our services will be available. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.
We hired experts who have good understanding of the massage therapy and wellness services industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in California.
In summary, Kate ‘n’ Ken™ Massage & Wellness Center will adopt the following sales and marketing approach to win customers over;
- Introduce our business by sending introductory letters to residence, business owners and corporate organizations
- Open our massage therapy and wellness center with a big party
- Advertise our massage therapy and wellness center on national dailies, local TV stations and local radio station
- Promote our massage therapy and wellness center online via our official website and all available social media platforms
- Continuously Improving the performance of our brands
- Hire the services of experts to make our brands the first choice for people in Irving, Texas
- Delivering consistent customer experiences to all our members; making our first impression count positively to those making use of our spa and gym facility for the first time
- Make use of attractive hand bills to create awareness and also to give direction to our massage therapy and wellness center
- Adopt direct mailing coupon marketing approach
- Position our signage / flexi banners at strategic places
- Create a loyalty plan that will enable us reward our consistent members especially those that registered as a family
- Engage on road shows within our neighborhood to create awareness for our massage therapy and wellness center.
Physical / Massage Therapy Business Plan – Publicity and Advertising Strategy
We are not just in the massage therapy and wellness services business to make profits but also to become one of the market leaders hence we are going to explore all available conventional and non – conventional means to promote our business. This is one of the reasons why we shall put in a lot of money to see that we create the right and best awareness for our business.
Kate ‘n’ Ken™ Massage & Wellness Center has a long term plan of offering massage therapy and wellness services not just in our spa but also in various locations (homes) all around California which is why we will deliberately build our brand to be well accepted in San Diego before venturing out. As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the general public.
Here are the platforms we intend leveraging on to promote and advertise Kate ‘n’ Ken™ Massage & Wellness Center;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community health and fitness programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
- Install our Bill Boards on strategic locations all around San Diego, CA.
- Engage in road show from time to time
- Distribute our fliers and handbills in target areas
- Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.
Our Pricing Strategy
Kate ‘n’ Ken™ Massage & Wellness Center will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in The United States of America. Part of the strategy that we plan to adopt is to lower our pricing so that we are able to make an entrant into the industry that will cause people to want to switch over to our services.
On the average, massage therapy and wellness service providers usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment. In view of that, it is easier for home them to bill their clients based in their discretions.
It is important to clearly state that, in some cases massage therapy and wellness service providers also adopt the hourly billing cum per visit billing method.
- Payment Options
There are several payment options that is available to different businesses. For Kate ‘n’ Ken™ Massage & Wellness Center, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them.
Here are the payment options that will be available in every of our outlets;
- Payment by cash
- Payment via Point of Sale (POS) Machine
- Payment via online bank transfer (online payment portal)
- Payment via Mobile money
- Check (only from loyal customers)
In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.
Start – Up Expenditure (Budget)
This segment of the expenditure budget is vital as this equipment must be gotten to make business more efficient. These are the types of exercise equipment that we will make available in our spa cum gym and wellness center;
- Resistance bands
- Flexion machines
- Pull-up bars
- Weight training
- Elliptical trainer
- Four stationary bikes
- Three flatbed weight machines
- One hamstring exercise machine
- Four treadmills
- Complete set of weights
- One traction bed
- Ten various sized balls for lumbar work
- Two heart rate testing machines
- Two tables for treatment of various therapies
- Water cooler
- Rowing machine
- Hot tub for water therapy
- Two low level bikes
- Various mats for doing floor exercise
- Fitness (biology)
- Hojo undō
- Pull-up bar
- Medicine balls
This is the key areas where we will spend our start – up capital on;
Detailed Cost Analysis for Starting a Physical Therapy Business
- The Total Fee for Registering the Business in San Diego, CA: $750.
- Legal expenses for obtaining licenses and permits: $1,500.
- Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of $10,000.
- Cost for hiring Consultant – $5,000.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
- Cost of accounting software, CRM software and Payroll Software – $3,000
- Cost for leasing facility for the spa: $80,000.
- Cost for facility remodeling – $50,000.
- Other start-up expenses including stationery – $1000
- Phone and utility deposits – $3,500
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
- The cost for Start-up inventory and supply (massage oil and lotions et al) – $15,000
- Storage hardware (bins, utensil rack, shelves, glasses et al) – $1,720
- The cost for counter area equipment (counter top, sink, ice machine, etc.) – $7,500
- Cost for acquiring gym and spa equipment – $200,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, snooker board, clippers, tables and chairs et al): $4,000.
- The cost of Launching a Website: $600
- The cost for our grand opening party: $1,500
- Miscellaneous: $5,000
We would need an estimate of $ 750,000 to successfully launch our massage therapy and wellness business in San Diego, CA.
It is important to state that the testing and evaluating expenses would be high because of the large amount of equipment needed to start up a spa cum gym and also the sophistication of the technology used in gyms. Also, the supplies would cost a bit more because of the regular demand for it.
Generating Funding / Startup Capital for Kate ‘n’ Ken™ Massage & Wellness Center
Kate ‘n’ Ken™ Massage & Wellness Center is a family business that is solely owned and financed by Dr. Kate Stephenson and family. They do not intend to welcome any external business partner; which is why we decided to restrict the sourcing of the start – up capital to 3 major sources.
These are the areas Kate ‘n’ Ken™ Massage & Wellness Center intends to generate its start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $550,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
Physical / Massage Therapy Business Plan – Sustainability and Expansion Strategy
It is a known fact that the future of any business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Kate ‘n’ Ken™ Massage & Wellness Center is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our massage therapy and wellness services a little bit cheaper than what is obtainable in the industry and we are well prepared to survive on lower profit margin for a while before increasing our service charges.
Kate ‘n’ Ken™ Massage & Wellness Center will make sure that the right foundation, business structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of facility and remodeling the facility: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of Spa and Gym equipment and gadgets et al: In Progress
- Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Compilation of our list of potential clients in San Diego – California: Completed
- Establishing business relationship with vendors: In Progress