Professional Documents
Culture Documents
z Corporate Dropout?
{ The spa world must be so relaxing . . .
z Where do they live, work? z What services will they be interested in?
z New construction or existing building z 2000 sq ft spa = approx $475K z Bank will want you to contribute 20-30% z Profits , when achieved, will typically range from 0-15%
Financial Projections
z Revenue-producing areas
{ Treatment rooms { Salon Departments { Cosmetics, Waxing, Medical services { Retail Area
Size matters!
z z z z How big does it need to be? How big can you afford it to be? Start small and grow later Bigger is not necessarily better
Project Logistics
z Site Selection z Development Team
{ General Contractor, Architect, Consultants, Designers
Service Analysis
z Most Popular z Most Profitable
{ Facials and Makeup = retail sales { Massage = low cost of service delivery
Service Menu
z Basic Services z Service Packages or Groups z Services for Men & Women z Signature Services z Seasonal and Special Offerings z Upselling Opportunities z Tie-ins to theme or branding
Building a Brand Identity z Private Label Products z Signature Services z Web Site z Spoken cues & scripting z Training, training, training
contd
Assembling a Team
z Management Team
{ Someone in management should have spa or salon experience { But not necessarily everyone!
Continuous Evolution
z Make continual facility updates z Change artwork z Remerchandising/Floor moves z Seasonal menu additions z Examine what works, eliminate what doesnt
Current Trends
z z z z z z z Indigenous ingredients & treatments New target markets men, teens, Fusion treatments Social Spa-ing Green Spas Medical Dont forget the stress relief
Barriers to Success
z Initial Undercapitalization z Not understanding your niche, or not having a niche at all z Thinking it will run itself z Not investing in education & training z The wrong compensation plan z Lack of qualified management