May 19, 2016
How to write a Spa Business Plan
You should have a business plan in writing, especially if you are attempting to get a financial loan. It is really not difficult to do and it is vitally necessary to secure a bank loan.
Describe the business in about 600 words (one typed page). Explain how the business came starting and the reasons that it exists. Also include the forecasted direction that you desire the business to move into.
Outline business goals. Be specific about goals and offer a timeline in which to achieve each goal.
Describe the team. Provide a bio of each team memberwith their creditentials and how their expertise will add to the value of the business.
Describe, in detail, what services will be offered to customers. A spa, for instance, would typically offer massage, facials, manicure, pedicures and hair styling. Tanning and body wraps are also common services offered by beauty treatment spas.
Marketing plan. It is important that you have a marketing strategy written down. Include any online and offline strategies you plan to implement. Having this portion of your plan written down makes it easier to see what strategies are working to grow your business.
Financial projections. Now that you have a written a clear picture of what the company is and who it serves, it is time to lay out the financial picture (this is particularly important to loan officers). This section should include all start up costs as well as ongoing expenses (such as insurances, rent, salaries, phone, internet and cleaning supplies). A spa will also have some speciality expenses such as towels, mirrors, robes and candles that should be considered. It is recommended that expenses and financial projections expand out three to five years. Be honest and conservative with your financial predictions.
Sum it up. An executive summary page should be at the front of the report, but it is recommended that this page be written last. On this summary page, you will provide an overview of exactly what will be found in the pages of the report. This page should also be compelling enough so that investors and financial supporters will want to turn the page.
Cover it up. A cover page with the words “Business Plan” perfectly centered on the page with contract information near the bottom right corner of the page will give your document a polished look. The contact information should include the company name, address and phone number(s) well as a website and an e-mail address. Make sure this information is typed in a clear to read and professional font face.