Do you want to start a reiki practice? If YES, here is a 20-step guide on how to start a profitable reiki practice business with no money and no experience. If you intend starting this type of business, it is advisable to first look at the existing laws in the country or state you reside in to know what is expected of you. The bottom line is that you would need to pay a visit to the regulatory body in your country to get all the information on what you need to do before you can legally start your own reiki clinic – business in your city.
You can start your reiki practice business from a small town in the United States and if you are good at what you do, it won’t be too long before your brand becomes nationally recognized.
20 Steps to Starting a Reiki Practice Business
Table of Content
- 2. Conduct Market Research and Feasibility Studies
- 3. Decide What Niche to Concentrate On
- 9. Discuss With an Agent to Know the Best Insurance Policies for You
- 10. Protect your Intellectual Property With Trademark, Copyrights, Patents
- 11. Get the Necessary Professional Certification
- 12. Get the Necessary Legal Documents You Need to Operate
- 13. Raise the Needed Startup Capital
- 14. Choose a Suitable Location for your Business
- 15. Hire Employees for your Technical and Manpower Needs
- 16. Write a Marketing Plan Packed With ideas & Strategies
- 17. Work Out a Reasonable Pricing for your Services & Products
- 18. Develop an Iron-clad Competitive Strategies to Help You Win
- 19. Brainstorm Possible Ways to Retain Clients & Customers
- 20. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
1. Understand The Industry
Reiki is a form of alternative medicine called energy healing. Reiki practitioners use a technique called palm healing or hands-on healing through which a “universal energy” is said to be transferred through the palms of the practitioner to the patient in order to encourage emotional or physical healing.
The alternative medicine practice industry has been in existence as far back as modern civilization and it is common to find reiki clinics in the india, China, Japan and most countries in Asia. Reiki practice was developed in Japan in 1922 by Mikao Usui, it has been adapted into varying cultural traditions around the world.
The Alternative Medicine Industry is a well – established industry in the United States and the industry works hand in hand with other manual – therapy related professions such as acupuncture, chiropractic, reiki practice, massage therapy, osteopathy, and physical therapy et al. Most of the people who source for the services of reiki care do so for aliments such as low back pain, neck pain, cancer, diabetic neuropathy, anxiety and depression amongst others.
Interesting Statistics About the Industry
The Alternative Medicine industry is projected to grow slowly due to reservation about the field’s validity. On the other hand, the number of people who are over the age of 50 is rising, supporting alternative medicine industry demand, and healthcare reform is expanding the number of individuals with health insurance policy cover, boosting revenue growth.
The Alternative Medicine industry is indeed a very large industry and pretty much active in all parts of the world. Bardwell Chiropractic Acupuncture Center, North County Integrative Acupuncture Center, Samra Clinic and The Children’s Hospital in Minneapolis are the leaders in this industry and they have the dominant market share in the industry.
Statistics has it that in the united states of America alone, there are about 68,848 registered and licensed alternative medical clinics cum reiki practice clinics responsible for employing about 166,370 and the industry rakes in a whooping sum of $14bn annually. The industry is projected to enjoy 1.3 percent annual growth.
In order to earn an acupuncturist license, aspiring entrepreneur must prove that they have received adequate education and that they uphold basic ethical standards. Just like any other regulatory entry barrier, licensure has the effect of controlling supply in the industry and generating security for incumbent practitioners.
2. Conduct Market Research and Feasibility Studies
- Demographics and Psychographics
The demographic and psychographic composition of those that need the services of a reiki clinic is not restricted to just a group of people. The truth is that everyone that resides in and around your location is among. Interestingly, most of the people who source for the services of reiki care do so for aliments such as low back pain, neck pain, cancer, diabetic neuropathy, anxiety and depression amongst others.
In essence, the demographic composition cum target market for a reiki practice business is not restricted to any gender, race, tribe or group of people. So, if you are looking towards defining the demographics of your reiki practice business, then you should make it far reaching.
3. Decide What Niche to Concentrate On
It is important to state that there are no niche ideas when it comes to reiki practice because the practice is a niche idea in the alternative medicine industry but players in this business may decide to work hand in hand with other manual – therapy related professions such as acupuncture, chiropractic, reiki practice, massage therapy, osteopathy, and physical therapy et al.
The Level of Competition in the Industry
The level of competition in the reiki practice line of business to some extent depends largely on the location of the business, your niche area of operation and of course the capacity of your business. The truth is that as a reiki clinic business owner, you are likely going to experience little or no competition because most players in this line of business are not concentrated in same city; they are well spread and pretty few.
But that does not mean that you are not going to be competing against other manual – therapy related professions such as acupuncture clinics, chiropractic clinics, reiki practice clinics, massage therapy clinics, osteopathy clinics, and physical therapy clinics et al. in and around your coverage area.
It is important to also state that you would compete with standard reiki clinics in India, Japan and China because a patient can fly in a licensed Reiki practitioner from any part of the world as long as they have the financial means.
4. Know Your Major Competitors in the Industry
Here are some of the most popular Reiki practitioners in the United States of America;
- Karen Harrison
- Robin H Fuerst
- Vidya Singh
- Michael Arthur Baird
- Dianne G Thomas
- Colleen Benelli
- Ana I. Gonzalez
- Lisa StarAhna
- Julie Russell
- Patricia Naffky.
When it comes to starting a reiki practice clinic, you just have to get your costing cum economic analysis right if your intention of building the business is to generate profits, grow and perhaps expand the business.
When conducting costing and economic analysis for your reiki practice business, you just have to critically examine these key factors; place, pricing, and promotion. As a matter of fact, you would have to continue to review them at regular intervals while running your business.
It is important to note that publicity, running cost and utility bills are some of the most important factors contributing to the overall cost of running a reiki practice business and should be considered as a major factor when carrying out your costing and economic analysis.
5. Decide Whether to Buy a Franchise or Start from Scratch
If you are looking towards starting a reiki practice clinic, you would have to start from the scratch because available research shows that there is no franchise in the industry.
Besides starting a reiki practice business from the scratch is less stressful when compared to other similar small – scale businesses. You only need to acquire your reiki practitioner license, register your business, purchase your equipment and then leverage on every marketing tool within your disposal especially the internet to market your business.
6. Know the Possible Threats and Challenges You Will Face
If you decide to open your own reiki practice clinic today, one of the major challenges you are likely going to face is the presence of notable reiki practitioners/clinics and other manual – therapy related professions such as acupuncture, chiropractic, reiki practice, massage therapy, osteopathy, and physical therapy et al. The only way to avoid this challenge is to create your own market.
So also, just like any other alternative medicine business, one of the major threats that you 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. Other threats that may likely confront you are sustained public uncertainty of the industry.
7. Choose the Most Suitable Legal Entity (LLC, C Corp, S Corp)
The fact that a reiki practice business is one of those businesses that can be built around an individual means that if you are looking to choose a legal entity for the business, you should settle for sole proprietorship.
But if you offer other services and you want to hire some employees, then you can consider choosing a general partnership or limited liability company. Good enough, there is no restriction on the legal entity you can choose for your reiki practice clinic.
8. Choose a Catchy Business Name
When it comes to choosing a name for your business, you should be creative because whatever name you choose for your business will go a long way to create a perception of what the business represents. If you are considering starting your own reiki practice business, you can choose to name the business by your official name or nickname.
9. Discuss With an Agent to Know the Best Insurance Policies for You
In the United States and in most countries of the world, you can’t operate a business without having some of the basic insurance policies that are required by the industry you want to operate from. Thus, it is imperative to create a budget for insurance and perhaps consult an insurance broker to guide you in choosing the best and most appropriate insurance policies for your business.
Here is some of the basic insurance policies that you should consider purchasing if you want to start your own reiki practice clinic in the United States of America;
- General insurance
- Health insurance
- Liability insurance
- Risk Insurance
- Workers Compensation
- Building/Property insurance
- Overhead expense disability insurance
- Business owner’s policy group insurance
- Payment protection insurance
10. Protect your Intellectual Property With Trademark, Copyrights, Patents
When starting your reiki practice clinic, you may not have any need to file for intellectual property protection because the nature of the business makes it possible for you to run it without having any cause to challenge anybody in court for illegally making use of your intellectual properties.
On the other hand, if you just want to protect your company’s logo and other documents or software that are unique to you or even operation concepts, then you can go ahead to file for intellectual property protection. If you want to register your trademark, you are expected to begin the process by filing an application with the USPTO.
11. Get the Necessary Professional Certification
If you intend starting a reiki practice business in the United States of America, you are encouraged to pursue professional certifications; it will go a long way to show your commitment towards the business. Certification validates your competency and shows that you are highly skilled, committed to your career, and up-to-date in this competitive market.
These are some of the certifications you can work towards achieving if you want to run your own reiki practice business;
- LRMT – Licensed Reiki Master Teacher (the certificates are issued by the ICRT Reiki Membership Association)
- Affiliate member of the RMA or Affiliate member of the Reiki Membership Association
Please note that you can successfully run your reiki practice clinic without any professional certification especially if you are gifted in that regard.
12. Get the Necessary Legal Documents You Need to Operate
It is a fact that you cannot successfully run any business in the United States without the proper documentations. If you do, it won’t be too long before the long hands of the law catch up with you. These are some of the basic legal documents that you are expected to have in place if you want to legally run your own business in the United States of America;
- Business and liability insurance
- Federal Tax Payer’s ID
- State Permit
- Certificate of Incorporation
- Business License
- Business Plan
- Employment Agreement (offer letters)
- Operating Agreement for LLCs
- Insurance Policy
- Company Bylaws
- Memorandum of Understanding (MoU)
13. Raise the Needed Startup Capital
Starting a standard reiki practice business is not capital intensive especially even if you choose to launch the business on a small scale. Leasing of a standard facility that can accommodate your staff and of course the purchase of equipment are part of what will consume a large chunk of your capital, in essence, if you choose to start the business on a large scale, you will need to source for fund to finance the business.
When it comes to financing a business, one of the first things you should consider is to write a good business plan. If you have a good and workable business plan document in place, you may not have to labor yourself before convincing people to invest in your business.
Here are some of the options you can explore when sourcing for startup capital for your reiki practice clinic;
- Raising money from personal savings
- Applying for loan from your bank
- Source for soft loans from your family members and your friends.
14. Choose a Suitable Location for your Business
A reiki practice business can be started in any location as long as there are people there that can pay for your services. As a matter of fact, you can start your reiki practice clinic in your house and still grow the business to profitability.
But it cannot be overemphasized that the location you chose to start your business is key to the success of the business, hence entrepreneurs are willing to rent or lease a facility in a visible location; a location where the demography consists of appreciable growing population and of course people with the require purchasing power, and lifestyle.
If you make the mistake of renting or leasing a facility for your reiki practice business in a not too visible or hidden location simply because it is cheap, then you must be prepared to spend more in promoting the business. It is important to note that a business facility in good location does not come cheap hence you should be able to allocate enough fund for leasing/renting in your budget.
Most importantly, before choosing a location for your reiki practice business, ensure that you first conduct a thorough feasibility studies and market survey. The possibility of you coming across similar business that just closed shop in the location you want to open yours can’t be ruled out.
These are some of the key factors that you should consider before choosing a location for your reiki practice business;
- The demography of the location
- The demand for reiki practice clinics in the location
- The purchasing power of the residents of the location
- Accessibility of the location
- The number of reiki practice clinics other manual – therapy related professions such as acupuncture, chiropractic, reiki practice, massage therapy, osteopathy, and physical therapy et al in the location
- The local laws and regulations in the community
- The road network, traffic, parking and security et al
15. Hire Employees for your Technical and Manpower Needs
When starting a reiki practice clinic, you will need a good bodywork table, a yoga mat, pillows and other supplies that will aid you in carrying out your job. This equipment can be purchased as fairly used if you are operating on a low budget. In setting up a small office for your reiki practice clinic, you will also need computer, printer, software apps, telephones, pager, photocopier, scanner, and fax machine.
When it comes to choosing between renting and leasing a facility for your reiki practice, the size of the business you want to own, and your entire budget for the business should influence your choice. Besides, you can operate this business from your home or from a small office space that can accommodate staff working for you.
Good enough, reiki practice business can be run as a one – man show, but if you want to build a business with corporate outlook, then you would need to hire some key employees. Averagely, you would need the services of the following professionals; Chief Reiki Practitioner, Manager, Assistant, Customer Services Executive/Front Desk Officer, Security Guard and Cleaners.
You would need a minimum of 3 to 5 key staff members to effectively run a standard reiki practice business.
The Service Delivery Process of the Business
The service delivery as it relates to reiki practice business is simple and straightforward. Most of the people who source for the services of reiki care do so for aliments such as low back pain, neck pain, cancer, diabetic neuropathy, and anxiety and depression amongst others.
Reiki practitioners are not expected to give rushed Reiki sessions or deliver Reiki to just the symptom. This doesn’t work. Reiki practitioners are expected to always ask the client permission before beginning the Reiki session. They are expected to follow proper hygienic procedures, and maintain confidentiality. Conduct each Reiki session thoroughly and they always follow up with your clients.
16. Write a Marketing Plan Packed With ideas & Strategies
The fact that the entry barrier for starting a small – scale reiki practice clinic is achievable means that there is bound to be more players in the industry no matter the location you choose to start yours. In essence, you must come up with innovations if you must carve out a market for yourself within your community, city, state or country.
So, when you are drafting your marketing plans, make sure that you create a compelling personal profile. Aside from your qualifications and experience, it is important to clearly state what you have been able to achieve in time past. This will help boost your chances in the market place when marketing your services.
Here are some of the platforms you can utilize to market your reiki practice clinics;
- Introduce your reiki practice by sending introductory letters alongside your brochure to corporate organizations, hospitals, car owners, households, sports organizations, gyms, schools, socialites, celebrities, bikers associations and other key stake holders throughout the city where your tanning salon is located.
- Advertise on the internet on blogs and forums, and also on social media like Twitter, Facebook, LinkedIn to get your message across
- Print out fliers and business cards and strategically drop them in offices, sport facilities, libraries, public facilities and train stations et al.
- Making your first impression count positively to those that patronize your services for the first time
- Make use of attractive hand bills to create awareness and also to give direction to your reiki practice clinic – facility
- Create a basic website for your business, so as to give your business an online presence
- Directly market your products.
- Engage in road show in targeted communities from time to time to promote your reiki practice clinic business
- Join local reiki practice clinic business associations for industry trends and tips
- Provide discount days for your customers
- Advertise our business in community based newspapers, local TV and radio stations
- List your business on yellow pages ads (local directories)
- Encourage the use of word of mouth marketing (referrals)
17. Work Out a Reasonable Pricing for your Services & Products
One key factor that will help you offer your services at the right price is to ensure that you cut operational cost to the barest minimum and channel your efforts towards marketing and promoting your brand name.
You can also try as much as possible to work with independent contractors and marketers; it will help you save cost for paying sales and marketing executives.
So also, if you are able to secure business partnership as it relates to getting referrals, then you will be able to get the right pricing and of course maximize profits from your business.
18. Develop an Iron-clad Competitive Strategies to Help You Win
The reiki practice clinics line of business is not a competitive industry, but you must come up with unique and highly creative strategies to be able to outsmart your competitors in the industry. Part of what you need to do in order to stay competitive in the industry is to continue to create easier and cheaper ways of providing the right solutions and healing for your clients.
In other to stay competitive in this industry, you must ensure that your clients are always comfortable and always ensure that you pay attention to details when carrying out your job. The truth is that if there are fluctuations in the services you provide, customers can choose to shift allegiance and settle for other options available.
19. Brainstorm Possible Ways to Retain Clients & Customers
When it comes to business, no matter the industry that you choose to pitch your tent in, one of the easiest ways to increase customer retention and perhaps attract new customers is to produce results and satisfy your customers always. If your customers are satisfied with your service delivery, they can hardly source for alternative service providers.
One of the strategies that you would need to employ in order to generate repeated sales from your customers and also to retain them is to ensure that you always pay attention to details when attending to your clients, and your customer services does not fluctuate.
If your services and customer service fluctuate, you are likely going to struggle to get your customers retaining your services. Ensure that you offer your customers incentives if you want to retain them and of course continue to generate repeated sales from them, and also to attract new customers.
Part of what you need to do to achieve this is to track progress, results or outputs with the aim of improving on them quickly as the case demands. When it comes to managing your customers and building a loyal clientele base, you should purchase a customized CRM software.
With a customized CRM system, you can easily stay in touch with your clients (you can carry out quick surveys, you can introduce new products and prices to them without any hitch, you can felicitate with them on their birthdays and other anniversaries, you can keep track of their progress, you can send bulk sms and customized e – mails and above all, you can easily receive compliant and feedback from them).
20. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
If your intention of starting a reiki practice business is to grow the business beyond the city where you are going to be operating from to become a national and international brand by working for clients across the United States of America, then you must be ready to spend money on promotion and advertisement of your brand.
No matter the industry you belong to, the truth is that the market is dynamic and it requires consistent brand awareness and brand boosting cum promotion to continue to appeal to your target market. Here are the platforms you can leverage on to boost your brand and create a corporate identity for your reiki practice business;
- Place adverts on both print (newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events
- Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote your reiki practice business
- Install your billboards in strategic locations all around your city or state
- Engage in roadshows from time to time in targeted neighborhoods to create awareness of your reiki practice clinic
- Distribute your fliers and handbills in target areas
- List your reiki practice business in local directories / yellow pages
- Advertise your reiki practice clinic in your official website and employ strategies that will help you pull traffic to the site
- Position our Flexi Banners at strategic positions in the location where your reiki practice business is located.
- Ensure that all your staff members wear your branded shirts and all your vehicles are branded with your company logo.