7 Steps to Start a Massage Therapy Business
Creating your own massage therapy business means more than just having skills in massage. You also need to have skills in running a business. The capability to recognize the target market, tailor your marketing to your target audience, and even ask customers to schedule another massage at their initial appointment are all necessary skills to run a successful massage therapy business.
With the growing knowledge of the medical benefits that massage provides, a new massage therapist might want to establish connections in this industry.
Referrals are very important, as the massage industry depends on repeat clients; therefore, looking for a medical practitioner who is eager to refer to a massage therapy practice is vital in helping and supporting a fledgling massage therapy business. With that in mind, here are seven steps you’ll need to know to learn how to start a massage therapy business.
1. Write a Business Plan
After coming up with an idea for a business, the next step is to make a business plan. Not only will a bank need you to submit a business plan for the loan, but many studies have revealed that this business plan assists increase the chances of creating a successful business.
2. Create a Business Entity
A business entity is how your business is legally organized to function. There are several business entities to select include a partnership, sole proprietorship, corporation, and Limited Liability Company or (LLC). Each kind of business entity has advantages and disadvantages, such as costs, liability exposure, and administrative requirements.
3. Name Your Business
Coming up with the perfect name for your massage business can be overwhelming. Not just does the name need to resonate with the clients, but it also needs to be available to utilize. To check whether a business name is available, you need to go to a resource specific to your state and take a look.
4. Choose Your Place
Having a place close to customers in a highly trafficked area with ample parking is advantageous to your business. The expense of leasing the office area will differ based on the location and size. Being situated close to complementary businesses that don’t provide massages such as tanning studios, gyms, and beauty salons can assist you in bringing in extra customers by increasing your visibility with cross-promotions with these businesses.
5. Apply for Permits and Licenses
To receive a massage certification or license, you need to have passed the relevant exams. To do this, you may wish to use the MBLEx study guide as a way of practicing your massage skills. As an aspiring masseuse, you must also obtain any general business permits or licenses that your local authority requires.
6. Acquire Business Insurance
A massage therapy business needs many kinds of insurance to keep it secure against possible financial loss. These include worker’s compensation, commercial property insurance, and general liability insurance.
Policy expenses differ according to some factors, such as the worth of space you are renting and the number of workers you have employed. To get the most precise idea of what it will cost, ask for quotes from many insurance providers. You need to compare these quotes while paying attention to some factors such as deductibles, monthly premiums, exclusions, and coverage limits.
7. Hire Employees
Many massage therapists run their own business with no workers, but a thriving business might gain from hiring another therapist to handle appointment overflow. However, you should only hire once you have a solid book of repeat customers and need an extra hand.
These are just some of the things you need to consider on how to start a massage therapy business. Make sure to follow each process to become successful in your venture.