Envisioning your business is key to any startup. Consider all your WANTS for your practice, the branding, color scheme, furniture, linens, product, any retail, marketing and promotional materials, equipment, etc. Don’t skimp on your wild-minding dream for your practice. This is your ‘anything and everything’ do or prepare for, list. This is the heart of what makes your practice, YOURS. After you’ve listed all of your dreamy desires for your space and practice, select the base NEEDS from that list. You will use this as a compass to budget the look and feel (linen, art, service menu, equipment and product), your pricing (menu of offerings, service expectations, etc.), and support materials (marketing materials, business cards, print or digital, booking software, promotional pathways, etc.). These are all important factors in presenting a professional face. Taking the time to prepare an outline of your Dream space and then planning where you are able/willing to invest at the start, rather than just jumping into your practice will yield the longest return on your investment.

Though there are many different ways to begin your Vision Board, this is a simple series of exercises to get an idea for what you what, need and prepare in order to move on to the next stages of your business. Here are some first steps:

1)      Take 15 minutes to write down everything you wish to offer, even if it requires certifications, product or other procedures/equipment and space your will not have to start with.

2)      Take some time to review the list and categorize them into Business Branding, Equipment/Services, Product/Retail, and Marketing.

3)      Then take time to research the cost of items such as towel warmers, linen, cards, posters, product, and prioritize them in order of NEED, on a spreadsheet with ranking of need, cost, cost per use (service needs) or margin (retail).

4)      Based on your budget for starting up your practice, select the items from your list/s that you can begin with.

5)      Review the list and make any changes you see fit to make.

I realize this is a short-cut version of a startup list, but over the years, teaching a range of students with varied life experiences in business and selling oneself, I have found that short exercises can sometimes be the best starting point. When we trigger the activity and it becomes reality, the enthusiasm generated can take on a life of its own. It is my hope that this starting exercise will be that kindling for you.

Once you have considered things like your menu, your product, support and marketing materials, you can begin to build your space into what it will look like for your guests to experience. You should consider it just that, and experience!

I am assuming that you have already chosen to have your own space or share with one or more other practitioners. I’ll build on this later when I speak about partnerships, space sharing, expectations, policies and mutual respect in the section entitled The Karma Bus!

Building is one of the most enjoyable parts of beginning a new business. The dream is fresh, and the actual work doesn’t feel like it’s begun. When you consider a color scheme, linens, blankets, product, art and furniture, space willing, you will begin to see the foundation of your practice come to life. Now, based on my background in the hospitality industry, I have grown accustomed to ‘hiding’ all the tools. Guests only see a clean space with little product visible. This can be more challenging when you are sharing space with other practitioners, but discussing a common look for the space will help and you can map out various needs such as what stays in the closet, where do you keep extra pillows, blankets, cleaning supplies, etc.

Your menu is also important as you need to create something unique that reflects individual skills yet is accessible to your guests. Something they will see and understand; want and be drawn to. Once you have this in mind, you must consider your pricing. There are simple formulas for this, but to begin with, consider breaking down everything in a service to its individual cost, then consider your overhead. For the sake of this exercise, include your marketing, insurance, licensing, and product costs into your overhead.

Here is one simple formula:

For your income goal, select what you want/need to make to cover your cost of living. This number, plus your overhead will determine your pricing for basic services. For example:

[(monthly overhead) + (desired monthly gross inc.)] DIVIDED BY (services available per month) = minimum charge for service to make goal.

$1000 + $5000 / 80 = $75 as minimum charge per service. (you can play around with this by considering 70-80% booking to consider whether your books are full to begin with)

Before you actually open your doors, but have a lease and a timeline for opening, begin marketing and outreach to fill your books prior to your starting date! This is planting season and as you create and refine your office space, you can begin filling your books.

What I am about to suggest will be a little controversial. I don’t expect it is for everyone, and we all have varying opinions on third party marketing like Groupon. I am not trying to sell you on it but am offering some alternative considerations for you to review so that you can fill your books and cover your costs with no money up front. THIS IS, BY FAR, THE MOST DIFFICULT PART OF STARTING YOUR OWN PRACTICE: putting butts in sheets!

Groupon, without a doubt, is an expensive marketing platform. Salespersons for Groupon will tell you a lot of unhelpful ‘facts’ about what it takes to be successful. They are only selling you something. As a business, I am going to share ways you can retain some power, give up less and still get a decent return on sales. Fortunately, it costs you nothing up front. The people purchasing Groupon coupons are actively seeking your services.  

The starting point for percentage sharing with Groupon is 50/50. That is a lot. I’ve negotiated them to 70/30, in my favor, and found some other small guidelines to ensure I maximize my return. There will always be those seeking the least expensive opportunity to get a massage. These are not your long-term market; they are your meat and potatoes as you start your business. I have found that a lot of people that have found me on this site are seeking a new MT and find it helpful to pay less to receive several massages as they shop for the best fit. This was a surprising circumstance but gave me some perspective on how to better market using their system.

Here are some good tips to consider as you review using Groupon or other third party vendors.

1)      Be comfortable asking for a better percentage of the split.

2)      Limit the number of sales per month. This allows you to control sales and your time, but is easily increased or reduced.

3)      Limit the number of items a person can purchase, and make sure to list your deal is for FIRST TIME customers.

4)      Mention in the fine print that you are happy to match your Groupon deal when they book directly. Some clients will call and ask if you will match the deal. Say YES! You get a direct client and keep all the money.

5)      Getting a client to the table three times will greatly increase the likelihood of their becoming a regular guest. Offer to match the Groupon price if they rebook at the time of their service. This can work in your favor, but be careful. Customers will get addicted to discounts, but not to free – see my not about referrals below.

6)      You will be marketing to people seeking your services, and that you may not reach them through other means. Yelp! Is not as effective for driving clientele, nor is Google Business (though being listed here does help as you build reviews, in driving traffic to you and your website).

Other third parties such as Classpass also reach a market that may not otherwise find you for their massage needs, and though they do request you make a discount for your services when listing for their customers, they DO NOT take money from you. You only make money from the ‘referral’.

How can you keep these customers and continue to increase your business? Consider creating a referral program so that your happy guests can help you build your foundation. As an example, and you can create your own, I offer guests a 30-minute credit for every guest they refer to me, and who receive a service. It’s like a multi-level marketing opportunity, but you are only giving service time once someone has sent a fully paying customer your way.

This is a condensed treatment of a large topic and there are so many factors to consider when developing your business. These options are just suggestions to review as you find your own path toward success.

For more information, please see our Workshops if you would like a deeper plunge into business development, or our Industry Groups for local support opportunities. You can contact me with questions about courses, mentoring, consulting and other industry needs at jordan@myopothecary.com