When Is the Right Time to Launch Your Wellness Business?

However, just because it’s a good time to start a spa business, doesn’t mean that you’ll automatically achieve success as soon as you’ve opened your spa. You’ll still need careful planning and execution in all the different areas, from venue design to marketing to delivering service excellence. But these operations are still complex to operate and depend on clients spending discretionary income on an experience, the result of which is often not even visible. The following steps represent only a fraction of the needs to launch a business but provide a glimpse of how to move forward on turning your dream into an achievable goal.

Conception Phase

Step 1: Evolve your business concept, thoughts, and conversations into actionable plans. During this phase, you’ll organize and craft your concept into a crystal-clear vision statement and identify your unique service and product offerings.

Step 2: Cultivate a service menu prototype that’s relevant and aligns with your vision. Create treatments that are in demand with your targeted clientele while ensuring that it showcases the vision and skillsets of yourself and your future team. During the treatment development, it’s important that you establish consistent protocols and strong brand alignment. This is the creative step and should be quite enjoyable.

Step 3: Develop a high-level financial forecast to project future revenue and expenses to evaluate financial feasibility. At this point, you’re determining the viability of the business based on your assumptions. The conception stage allows you to determine whether should you launch at this time with a go, no-go, or rework. Additionally, it provides you with the next steps in your journey of owning your own business.

If it makes sense on paper, then it’s time to move into the launch phase.

Launch Phase

Step 1: Determine opening orders for products and equipment to support the vision and service menu.
The need to research manufacturers, quality, and the appropriate mix is an important step to ensure
that there’s brand continuity. Don’t select products based on best pricing–choose distributors that will
become your partner in business, not just a merchant. Create a retail boutique with a proper product
mix to support and integrate with the service offerings.

Step 2: Build a talented client-centric team even if the team consists of only you. Ensure that all team
members are well-trained and create a collaborative and team-oriented culture. Establish a structure
that supports training with defined protocols, scripts, and homecare retail care plans. Identify what will
be the best compensation plan to attract and retain competent staff while maintaining strong
profitability. Be sensible and create win-win career paths for your team that are fair to the business.

Step 3: Establish a balanced marketing campaign that’ll appeal to your targeted demographic to ensure
the service menu supports their demand. Learn how to target market your potential clients with
effective methods. Having a purpose is especially important if your target market includes millennials
and Gen Zers. Be sure to connect your business to some socially minded initiatives. Convert the
prospects and get the clients through the door and ensure you provide a client-centric experience to
ensure you build a loyal following.

It can be exhilarating to think about opening your own business, one that reflects your values and vision.
As you explore the possibility, begin the planning process and take your time to truly vet out the
opportunity to ensure it’s the best path for you and your skills.

Need assistance getting to opening day?

Join Lori Vargas with The Business Start-up Simplified Workshop Live Webinar Series. The 2-day Business
Start-up Simplified Workshops are an essential resource that streamlines the process for individuals
starting a new business. The workshops provide valuable insight, advice, and templates to create a
roadmap for a successful business launch.

• Save time and money by avoiding common start-up business mistakes.
• Gain independence and enjoy the freedom of being your own boss!
• Build confidence and become decisive about the ideal way to proceed with your business.

About the Author

Lori Vargas, founder of 360 Wellness Education, has over 20 years in the spa industry as a founder of
multiple spas, a massage school, and as a spa consultant. She also has 14 years of experience guiding
Fortune 500 Companies with corporate strategies and business development. Lori holds a CPA and MBA
from the University of Chicago.

To complement her online 360 Wellness Education courses, Lori has created an educational community
focused on connections and growth through 360 Wellness Education CORE Membership. This
membership provides easy access to affordable on-demand advanced education, live webinars (sip &
learn style), Facebook private group, newsletters, and live events. Follow on Instagram at
@360WellnessEducation.

In addition to CORE Membership and her other online courses, Lori offers 360 Business Workshops. This
live webinar series focuses on business start-up and development, sharing valuable insight, advice, and
templates to jumpstart business growth and maximize success.