While some people are content to work for other, many prefer to start their own business. This is true for the massage therapist. While some plan to work in spas, small shops and in offices and hospitals, others want to set up their own practice. This is feasible. You should not attempt this, however, without having a game plan. If you wish to be successful, you really do need to prepare everything carefully.
You should start the process before you enter school. At this time, you will need to know the direction you wish to take. What kind of massage therapy do you want to take? Where do you plan to practice? How many massage therapists currently operate there? How many plan to locate there or expand in the future? Is there a future for another massage therapist business in this place? Help yourself out by checking online and in the literature for massage therapy business tips.
Next, you need to plan your courses in accordance with your future. Take the right type of massage therapy courses. Include a few other ones that deviate from the field to round out your knowledge of the types of massage therapy. This will allow you to alter some aspects if need be. Furthermore, be sure you take courses and workshops on setting up a small business. This is essential if you want to succeed. It will also help provide you with ideas, information and sources.
While you are in school, check out things like real estate prices. Cruise around looking at possible properties. Compare and contrast locations, their prices and the opportunities. Talk to real estate agents. Also, speak to current shop owners. Include businesses in and not in massage therapy. This will provide you with data on general and specific types of businesses. You can also learn about the headaches and pleasures people find in owning and running their own business.
Another are to look into is supplies and equipment. You will require many items to furnish your shop. There are also amenities and necessities. Sit down and write up what you think you need. Compare it to the stock of an actual massage therapist practice. See if you can differentiate between the necessary and the “when-I-can-afford-them” items. Look at prices, volume, suppliers, distributors and other facets of providing the basics for a business venture.
Once you have looked at these various aspects of setting-up a business, you will need to engage in the next step – drawing up a business plan. This is essential step for a number of reasons. If you wish to make the shop a reality, you need to be aware of all aspects. A business plan is also an integral part of removing one of the main obstacles to opening the shop – obtaining finances.
A bank or other financial institute needs more than your hopes and dreams before lending money. They need, at the very basis, a business plan. This business plan must concisely and clearly reflect your goals, your costs and other aspects of your business. It will show who you are, what your goals are and the purpose of this business.
A precise professional business plan will clearly illustrate and demonstrate a number of factors. It will show your market. It will break down your market portion. It will analyze the increase over a period of years. You can show why this place, why now and the potential for growth.
A business plan will include the cost of setting-up your practice. It will show outlay and income. You will show a breakdown of the costs into precise sections. Do not forget such things as maintenance as well as the more obvious rent, equipment, products, wages and utilities.
You can compare the outlay to the potential income. In expanding on your growing profit margin, consider both short-term and long-term growth. Be sure to include how you plan to market your business. Discuss websites, printed advertisements and other forms of media exposure.
Working on a business plan helps you to clarify your goals. It also shows you precisely the costs and work of setting up your own professional practice. You will need to look at so many different aspects of massage therapy. How will you market your shop? Do you know how much to pay your employees? Will you have any employees? How much do you pay the government? What laws do you need to consider?
Planning ahead will save you from many worries. Thinking in advance and planning carefully your coursework to include business solutions is just the beginning. It is challenging to start from scratch. Even if you decide to take over another’s business, there is still much to learn. You can do it if you address all aspects of the business from course work to employees to equipment to rent to supplies.
on Oct 27 2010. Filed under Massage.
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