Starting a New Business:Where to begin?

[scheccid2]

I'm a struggling massage therapist with a full time job doing clerical work. I've recently come in to some money and I figure what better way to spend it than by opening a spa! I just don't know where to start. I've been looking around for office space and calling a few people but not really sure what I'm doing.

Can anybody offer any advice? Where to start, what to do? I have no business sense whatsoever. Luckily my brother does. I'm not even sure if I should go all out and try a spa or start small with an office with maybe one or two treatment rooms.

I'd love to hear about your experiences with starting out on your own. Any advice, tips are greatly appreciated!

 

[FizzbinLogic]

Well, I started out with no money, and doing outcalls, so my advice is based in my conservative approach to life. The first thing I would do is go to a financial planner and make some investments, both short term (so you have capital to work with as soon as you are otherwise ready to open your business) and long term, for capital to be available for growth later on.

Think big, think positively, think carefully. You don't dare underthink it.

Then I would find someone who knows a LOT about the spa business, and spend some time learning. You either have to do it yourself or you have to hire it done. Either way takes a learning curve. A brother with good business sense is a nice asset. You also need someone who has spa sense and people-sense (that may very well be you )

I'd expect it to take at least a year to get the first purchase made, if you have really great support. It would take me 2-3 years, but I do think and move slowly and thoroughly. So far I have always been glad I did, but I'm not one to derail or lose my train of thought, and it has been said I overthink everything, lol.

Good luck! Keep us posted in how it all goes!

 

[luv2swim4evr]

Starting a New Business:Where to begin?

I'm a struggling massage therapist....
I've recently come in to some money.....
I figure what better way to spend it than by opening a spa....
I just don't know where to start.......not really sure what I'm doing.
I have no business sense whatsoever........

Taking your post apart to these bare essentials, I second the recommendation to find a financial adviser and invest your money, then start asking yourself some questions about what you would like for yourself.

Would you like to work full time as a massage therapist?

Would you like to have business sense?

What are you hoping to gain by opening a spa?

After evaluating your own career and financial goals I hope you'll have a better idea of how to spend your money.

 

[Blurcelve]

Develop a very good business plan so that you could (if you wished) submit it to a bank to get financing. (Invest your money, use it as collateral, but build a business with other people's money!) It will clarify many issues for you. Look up your local SCORE chapter to get some mentoring--I could not have moved forward in my current situation with the counsel of my SCORE advisor. She asked me the tough questions and made me really justify my choices.

 

[turtle-lover]

Dreamweaver,

WOW. :shock: This is really a very broad question that raises so many other questions. I think some of the big ones are:

How is the market where you live? Is there a high demand for spa services? How many spas are open already? What types of services do you want to offer? How big of a spa? Do you want to manage employees? What is the big 'draw' for you to own a spa? Etc, etc, etc ....

I am not trying to be discouraging or unsupportive here. If you can do it I think it's great. (I am actually a little jealous.) It's just that you are at such a broad conceptual seforum.xxxe you need to consider every aspect.

If you haven't already, check out the book: Business Mastery by Cherie M Sohnen-Moe.

Also check out spa info from Steve Capellini.

Keep us posted.
Brian