Do you want to start a tarot reading business? If YES, here is a 19-step guide on how to start a tarot reading 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 bodies in your country to get all the information you need before you can legally open your tarot card reading business. You can start your tarot card reading 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 a nationally recognized brand.
19 Steps to Starting a tarot reading Business
Table of Content
- 2. Conduct Market Research and Feasibility Studies
- 3. Decide Which Niche to Concentrate On
- 4. Decide Whether to Buy a Franchise or Start from Scratch
- 8. Discuss with an Agent to Know the Best Insurance Policies for You
- 9. Protect your Intellectual Property With Trademark, Copyrights, Patents
- 10. Get the Necessary Professional Certification
- 11. Get the Necessary Legal Documents You Need to Operate
- 12. Raise the Needed Startup Capital
- 13. Choose a Suitable Location for your Business
- 14. Hire Employees for your Technical and Manpower Needs
- 15. Write a Marketing Plan Packed With ideas & Strategies
- 16. Work Out a Reasonable Pricing for your Services & Products
- 17. Develop an Iron-clad Competitive Strategies to Help You Win
- 18. Brainstorm Possible Ways to Retain Clients & Customers
- 19. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
1. Understand the Industry
Tarot card reading is the practice of using tarot cards to gain insight into the past, present or future by formulating a question, then drawing and interpreting cards. Reading tarot cards is a type of cartomancy. The Psychic Services industry is made up of establishments that offer psychic and fortune-telling services. Players in this industry usually provide services in the areas of astrology, aura reading, mediumship, tarot card reading and palmistry, among other metaphysical services.
Psychics are people whom some believe are able to perceive information hidden from the normal senses through extrasensory perception (ESP) or clairvoyance. Apart from ESP, psychics are trained to give clients information, often about their personal lives and future, using various tools ranging from physical cards to crystal balls.
Many psychics use tarot cards for guidance; tarot cards feature images that are meant to have specific meanings, and psychics attempt to interpret these images and connect them to clients and their lives. Psychic readings attempt to provide clients insight and advice. This advice often pertains to subjects that clients are anxious and curious about, such as love and death.
A report published by IBISWorld shows that the Psychic Services industry has grown steadily over the last five years thanks to the recovering economy and growing acceptance of industry services among consumers. The report shows that following a dip during the recession, rising disposable income levels have spurred demand for discretionary services like psychic readings.
In the coming years, improving economic conditions will continue to boost industry performance, as rising disposable income bolsters average customer spending on psychic services. Increased citywide regulations will likely accelerate during the next five years, which will result in slight industry consolidation and slow industry growth.
Interesting Statistics About the Industry
Statistics has it that in the United States of America alone, there are about 83,380 registered tarot card reading services, employing about 86,334 people and the industry rakes in a whooping sum of $2 billion annually. The industry is projected to continue to grow at a 2.4 percent rate. It is important to state that there are no companies with a dominant market share in the industry.
There are loads of players in this industry because the entry barriers for the tarot reading business is low. As a matter of fact, the required startup cost for a new organization can be as low as the cost of acquiring tarot cards. Some of the factors that encourage entrepreneurs to start their own tarot card reading business is the fact that the business has minimal regulation, it is profitable and can be started with minimal startup capital and employees.
The Psychic Services industry is very open to any aspiring entrepreneur who has the required skills to start up and of course make good money from the industry. As a matter of fact, it was projected that over the next five years, new technology will continue to emerge that will make it easier for more players to come into the industry hence increasing the competition.
2. Conduct Market Research and Feasibility Studies
- Demographics and Psychographics
The demographic and psychographic composition of those who patronize tarot card readers cut across all genders and age groups. They include male and female, adults and children hence the demographic composition of a tarot reading business is all encompassing.
If you are thinking of starting your own tarot card reading office, then you should look beyond marketing your services to just people in your city, but also to people all across the world via the internet.
3. Decide Which Niche to Concentrate On
It is important to state that there are no niche ideas when it comes to tarot card reading business. Some tarot readers work exclusively online, while others have their own shop front. Some set up booths at festivals, fairs, and private parties, while more are beginning to do readings live using Skype or on the phone. Unlike many other products and even service based businesses, a tarot reading business relies heavily upon the charisma of the reader.
The Level of Competition in the Industry
Irrespective of the line of business you decide to invest in, you are still going to compete with others who are into same area of business and tarot reading business is not an exemption.
The truth is that no matter the level of competition in an industry, if you have done your due diligence and you brand and promote your products or business properly, you will always make headway in the industry. Just ensure you offer a wide range of divination and fortune telling services and you know how to attract and reach out to your target market.
It is important to also state that the competition in the tarot card reading business is not restricted to competition amongst tarot readers but also you will be competing against other players in the divination and fortune telling Industry who are also offering same services you are offering.
When starting a tarot card reading business, you just have to get your costing cum economic analysis right if your intention of building the business is to generate profits, grow the business and start competing at the national level. When conducting costing and economic analysis for your tarot card reading business, you just have to critically examine these key factors; place, pricing, and promotion.
As a matter of fact, you need to continue to review these key factors while running your tarot reading business. As a tarot card reading business owner, you just have to have a proper grasp of your competitive landscape if indeed you want to maximize profits and be in the frontline of the industry.
It is important to note that publicity and, running cost and utility bills are some of the most important factors contributing to the overall cost of running a tarot card reading business and should be considered a major factor when carrying out your costing and economic analysis.
4. Decide Whether to Buy a Franchise or Start from Scratch
There is no hard and fast rule when it comes to choosing how you intend starting a business. Basically, you should be guided by your overall business vision and mission statement. If you are looking towards starting a tarot card reading business, you have the option of either starting from the scratch or buying the franchise of an existing tarot card reading brand.
Starting a tarot card reading business from the scratch is less stressful when compared to other divination and fortune telling services related businesses. With tarot card reading, you should just try as much as possible to secure a shop that is close to where your target market dwells, get your tarot cards and then leverage on every marketing tools within your disposal especially the internet when it comes to marketing your services.
Please note that most of the successful tarot card readers around started from the scratch and they were able to build a solid business brand. It takes dedication, hard work and determination to achieve business success.
5. Know the Possible Threats and Challenges You Will Face
If you decide to open your own tarot card reading business today, one of the major challenges you are likely going to face is the presence of notable psychics, witch doctors, prophets, fortune tellers and of course other people that can carry out same services that you are carrying out in your target market location.
The only way to avoid this challenge is to create your own market. Some other threats and challenges that you are likely going to face when you start your tarot card reading business are mature markets, bad economy (economy downturn), stiff competition, volatile costs, and issues of trust.
6. Choose the Most Suitable Legal Entity (LLC, C Corp, S Corp)
Generally, you can either choose a general partnership, limited liability company, or a sole proprietorship for your tarot card reading business. Ordinarily, sole proprietorship should have been the ideal business structure for a small – scale tarot card reading business especially if you are just starting out.
But if your intention is to grow the business and have chains of tarot card reading offices across the United States of America via franchising and opening an online store, then choosing sole proprietor is not an option for you. Limited Liability Company, LLC or even general partnership will cut it for you.
7. 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. Typically, it is the norm for people to follow the trend in the industry they intend operating from when naming their business.
8. 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 are some of the basic insurance policies that you should consider purchasing if you want to start your own tarot card reading business 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
9. Protect your Intellectual Property With Trademark, Copyrights, Patents
If you are considering starting your own tarot card reading office, you need to file for intellectual property protection/trademark. This is because the nature of the business makes it possible for you to challenge people in court for illegally making use of your formula cum company’s intellectual properties.
On the other hand, if you want to protect your company’s logo and other documents or software that are unique to you or even operation concepts, 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. The final approval of your trademark is subjected to the review of attorneys as required by USPTO.
10. Get the Necessary Professional Certification
If you intend starting a psychic services business in the United States of America, you are encouraged to pursue professional certification; 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 tarot card reading services business;
- The IAPLT Certified Psychic Counselor
- Psychic & Intuitive Certification – JVP School of Mystical Arts
- American Federation of Certified Psychics and Mediums
- Certified Tarot Card Reader
Note that most people choose Tarot licensing or certification because they want people to know that they have the skills required to deliver a Tarot reading, and they actually know what they’re doing.
They also want the increased credibility and visibility that comes with licensing and certification; especially if they go on to become professional Tarot readers. However, no law or rule enforces licenses and certifications on tarot readers in the United States, but acquiring them breed’s confidence and can count as an achievement in the industry.
11. 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)
12. Raise the Needed Startup Capital
Starting a tarot card reading business can be cost effective especially if you choose to start on a small scale by running a tarot card reading office in a street corner or from your home. Securing a standard and well – positioned store facility are part of what will consume a large chunk of your startup capital, but if you choose to start the business on a large scale, you need to source for fund to finance the business.
No doubt 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 your bank, investors and your friends to invest in your business.
Here are some of the options you can explore when sourcing for startup capital for your tarot card reading office business;
- Raising money from personal savings and sale of personal stocks and properties
- Sell shares to interested investors
- Source for soft loans from your family members and your friends.
13. Choose a Suitable Location for your Business
Starting a tarot card reading business comes with its own challenges; it is a business that cannot be started in any location. As a matter of fact, you will need approval from the local council and other regulating authorities in the city.
Generally, in business, 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 consist of people who appreciate divination and fortune telling, a location filled with people with the require purchasing power, and lifestyle.
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. If you are new to the dynamics of choosing a location you should feel free to talk to a business consultant or a realtor who has a full grasp of the city and perhaps country you intend starting your tarot card reading business.
These are some of the key factors that you should consider before choosing a location for your tarot card reading office business;
- The demography of the location especially as it relates to people who make use of herbs and medica mixtures
- The demand for tarot card reading and physic services in the location
- The purchasing power of the residents of the location
- Accessibility of the location
- The number of tarot card reading offices and related mystic services providers in the location
- The local laws and regulations in the community
- Traffic, parking and security et al
14. Hire Employees for your Technical and Manpower Needs
When it comes to starting a standard tarot card reading business, you will need tarot cards and other related equipment that will aid you in carrying out your job. It is important to state that these equipment can be purchased as fairly used if you are operating on a low budget.
In setting up a small office for your tarot card reading business, you will also need computer, printer, software apps, telephones, and fax machine et al. When it comes to choosing between renting and leasing a facility for your tarot card reading business, 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. Good enough, psychic services business is a business that 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, when it comes to starting a standard tarot card reading services business on a large scale, you would need the services of the following professionals; Chief Tarot Card Reader (Owner), Manager, Customer Services Executive / Front Desk Officer, Security Guards and Cleaners.
You would need a minimum of 3 to 5 key staff members to effectively run a medium scale but standard tarot card reading business.
The Service Delivery Process of the Business
Tarot cards have become extremely popular in Japan, where hundreds of new decks have been designed in recent years. Next to the usage of tarot cards to divine for others by professional cartomancers, tarot is also used widely as a device for seeking personal advice and spiritual growth. Practitioners believe the tarot cards can help the individual explore the depths and nodes of one’s spiritual path and discover a new realm of possibility for enrichment with regards to the inner self.
People who use the tarot for personal divination seek insight on topics ranging widely from health or economic issues to what they believe would be best for them spiritually. Thus, the way practitioners use the cards in regard to such personal inquiries is subject to a variety of personal beliefs.
For example, some tarot users may believe the cards themselves are magically providing answers, while others may believe a supernatural force or a mystical energy is guiding the cards into a layout. Alternatively, some practitioners believe tarot cards may be a utilized as a psychology tool based on their archetypal imagery, an idea often attributed to Carl Jung.
15. Write a Marketing Plan Packed With ideas & Strategies
The fact that the entry barrier for starting a small – scale tarot card reading business is not too high 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 unique marketing strategies if you must carve out a market for yourself.
So, when you are drafting your marketing plans, make sure that you create a compelling company 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 tarot card reading office;
- Introduce your tarot card reading office by sending introductory letters alongside your catalog to households and key stake holders in and around your location.
- Open your tarot card reading office with a party so as to capture the attention of residents who are your first targets
- Print out fliers and business cards and strategically drop them in offices, 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 tarot card reading office
- Advertise your services in community – based newspapers, local TV and radio stations
- List your business and products on yellow pages ads (local directories)
- Leverage on the internet to promote your tarot card reading office
- Engage in direct marketing and sales
- Encourage the use of word of mouth marketing (referrals)
- Leverage on the internet to promote your tarot card reading business
- Join local chambers of commerce and industries around you with the aim of networking and marketing your tarot card reading business; you are likely going to get referrals from such networks.
Engage the services of marketing executives and business developers to carry out direct marketing for you
16. Work Out a Reasonable Pricing for your Services & Products
One key factor that will help you offer your services at rock bottom prices is to purchase your tarot card and other divination tools directly from the manufacturers. Another strategy that will help you offer your tarot card reading 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.
Aside from the fact that this strategy will help you save cost, it will also help you get the right pricing for your services. You can also try as much as possible to work with independent contractors and marketers; with that, it will help you save cost for paying sales and marketing executives.
17. Develop an Iron-clad Competitive Strategies to Help You Win
The availability of a wide range of result driven divination and fortune telling services, your business process and of course your pricing model are part of what you need to stay competitive in the industry.
Another possible competitive strategy for winning your competitors in this particular industry is to build a robust clientele base. Over and above, ensure that your organization is well positioned, key members of your team are highly qualified and your services can favorably compete with the some of the best in the industry.
18. 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 products and service delivery, they can hardly source for alternative service providers.
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 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).
19. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
If you are in business and you are not conscious about boosting your brand awareness and communicating your corporate identity, then you should be ready to take on whatever the society portray your business to be. One of the secrets of larger corporations is that they are willing to spend good money to boost their brand awareness and to continue to communicate their corporate identity the way they want people to perceive them.
Here are the platforms you can leverage on to boost your brand and create a corporate identity for your tarot card reading office;
- 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 tarot card reading office
- 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 tarot card reading office
- Distribute your fliers and handbills in target areas
- List your tarot card reading business in local directories / yellow pages
- Advertise your tarot card reading business in your official website and employ strategies that will help you pull traffic to the site
- Position your Flexi Banners at strategic positions in the location where your tarot card reading office is located.
- Ensure that all your staff members wear your branded shirts and all your vehicles are branded with your company logo.