Starting a Business: Spa Business Trends

If you want to start a winning business, make sure that it is in a field that interests you, and that you enjoy the work. Just as important, you want to take a look at industry trends to see how you can best position your business for success.

In short, trends generally form to meet the needs of the market. The more you can satisfy your customers, the more success you are likely to have. Therefore, understanding and acting on current trends in the spa industry can greatly affect your salons’ profits.

While you don’t usually want to start a business around a short-term fad, incorporating current spa business trends into your operating strategy can help put your company at the leading edge of your competitors. You can also make changes to your spa business plan to make it more profitable. As a business owner, you can adjust and revise your business strategy as the market changes and new spa trends emerge.

Here are some trends going on in the spa business right now:

Lower-Cost Services

Spas are no longer limited to only the wealthy. Now people on a budget can get an hour-long spa treatment and spend as little as $50. In fact, in the current economy, lower-cost spas fared better than those exclusively offering higher-priced services.

In addition to full-body massages, more spas are offering treatments that cost less, but are still profitable. Some of the trends we are seeing include hot stone massage, scalp massage and reflexology. Also, shorter appointments require less labor and resources, but still provide relaxation for the customer.

Another benefit to these lower cost spa packages offer is that they require less time. A customer may want a relaxing spa treatment, but may not have all afternoon to spare. In this circumstance, time is the issue rather than cost. Nonetheless, this new trend is providing a needed solution for consumers.

More Amenities

These days, consumers can choose from a wide variety of spa treatments. Services are no longer limited to just a facial or body massage. Now spas offer hand massages, meditation space, reflexology, body wraps, scrubs, aroma therapy, hot stone massages, anti-aging hand and foot treatment and more.

By following this trend, spas can provide specific solutions to their customers’ needs. Businesses do not need to offer all services, or even many. Some spas focus on just one type of service and specialize in that.

Focus on Health and Wellness

As a large portion of the population ages, medical spas and salons that offer anti-aging services are becoming more popular. Medical spas can offer laser treatment, microdermabrasion, laser hair reduction, acne resurfacing, skin tightening, infrared saunas, Botox treatments and even acupuncture.

This trend focuses on a growing market, which means that the services and business opportunities in this area are likely to increase as well. At the same time, more people are recognizing that spas not only offer relaxation but healing benefits as well. Spas offering both relaxation and healing benefits in a single amenity instantly increase the value of that service.

Key Small Business Tips for Success

Small business tips for starting your own business can put you on the path to financial success.

The SBA says that the term small business includes concerns that are organized to make a profit and have fewer than 500 employees. In this post, small business includes work at home, affiliate marketing, network marketing and online home based businesses, and I will explore small business tips to help you achieve your business goals. These tips will help you get customers and generate more sales quickly.

Here are key small business tips and questions to consider:

1. Why do you want to start a small business? Starting your own business requires commitment. So, don’t proceed to do so unless you are prepared for long hours and frustration while you are establishing your business. For many, enduring this is well worth the potential of financial security.

2. Will you market a product or service? A service business is one where you offer your expertise to clients. For a product business, you will need to offer a tangible product. Typically, a product business is more expensive to launch than a service business.

3. Do you have a simplified business plan? The thought of writing a business plan is intimidating to most aspiring entrepreneurs. However, it is possible to write a one-page plan that tells the what, who, how and where of your business. You should keep it simple. You can add details as you go. Just get it started.

4. Who is your customer? Describe your target customer in as much detail as possible. Know their needs and wants. Know how you can provide a solution to their problem. This profile will help you create a targeted marketing message and save you time and money in reaching prospects.

5. What is your pricing? Pricing is an art and a science. You need to cover your costs and generate a reasonable profit. Doing research to see what your competitors are charging can help.

6. Are you watching your costs? Many entrepreneurs tend to underestimate how long it will take for their small business to turn a profit. Don’t burden your business with too many costs too quickly. To keep costs to a minimum, hire interns and outsource or barter for services.

7. What’s your plan for getting customers? One of my coaches says the secret to business success is spending 85% of your time doing things that will lead to sales and 15% of your time doing everything else. You’ll need a marketing plan. How do you plan on attracting prospects and converting them to paying customers? Design your advertising to generate sales. Your advertising should always include an offer and an easy way for prospects to respond.

8. Are you using social media? More and more businesses are moving to social media because their prospects are on social media. Only about 25% of small businesses are using social media to build their business. So, creating a presence on social media will give you an edge. This typically means building a fan page on Facebook. There are many resources you can use to build a fan page.

Here are some small business tips to attract more customers online:

1. Be sure to add local content targeted for your specific area.
2. Make sure prospects can find you online and offline.
3. Be very clear about what your business offers.
4. Participate on social media consistently.
5. Watch what your competitors are doing. See what is working and what is not working.

These small business tips require you to be consistent. It takes persistence to establish a social media presence.

If you act on the small business tips above, you will increase your chances of success, you will effectively leverage your time, and promote your business profitably.

5 Tips Small Businesses Can Take Away From The Tiny House Movement

What on earth could small businesses learn from the tiny house movement if your industry is unrelated? It comes as no surprise that the growth, mission, popularity and purpose of the tiny house movement have grown over the past decade. People are joining this movement for financial freedom, environmental and leisure enjoyment. These owners reduce skyrocketing maintenance costs and living expenses that come from soaring mortgage payments of capacious houses. This movement also frees up more time to spend with family and travel.

Over the past decade, we have seen the increase in restructuring, downsizing and corporate dismantling by many large firms. According to the U.S. Small Business Administration, 99.7 percent of all employer firms are small businesses. While this percentage is an impressive number, there are some great tips many small businesses can take away from the tiny house movement.

  • Compact and mobile: Owners of tiny houses downsize to reduce the overabundance of clutter, high mortgage payments, and freedom to do more things they want to engage in. They have the capability of hitching their home on the back of a vehicle and can save money on hotel costs when traveling. Depending on your type of business, with the ease and digitization of many applications and smart devices, you can mobilize your business and take it anywhere. Even if you relocate, your business can be just as portable. Small businesses may be compact in scale, but can be substantial in their return on investment.
  • Energy and cost-efficient: Tiny house owners save money by lower operating costs, energy usage, and maintenance costs. You will find innovative ways to curb your budget in certain areas that will free up money for other important business investments to grow your business. Small businesses may not use up as much energy and power as larger organizations. You can operate more efficiently as well as effectively.
  • Environmentally conscious and sustainable: Tiny houses may be built using environmentally friendly and repurposed materials. They are built to last but are as unique and aesthetically appealing as the details in a larger home. Small businesses can apply similar eco-friendly elements and recycled supplies to their organization. Make a statement with personalized and customized brand installations on a smaller scale, but with great innovative curb appeal.
  • Technological advantages: Technology is not as big and bulky as it once was. Tiny houses can embody the same level of digitization as larger homes, just on a smaller scale. At one time, big businesses had the upper-hand with harnessing more advanced applications in technology. Nowadays, not only is technology more advanced and constantly evolving, many elements are far more affordable than they’ve ever been.
  • Innovative: While tiny house living is not a new phenomenon it is increasing in popularity. The idea of living a quality life on a small-scale pushes us to new levels of residential creativity. We are inspired to try something new, creative, and innovative that will make us stellar in our industry. Since many quality products and services are more affordable and reliable, small businesses can make quality purchases and outsource services that will save on equipment and personnel budgets.

Just because a small business may adopt a few ideas from the success of the tiny house movement, some of these applications may not be feasible or appealing to your particular industry. You don’t have to sacrifice quality for affordability. Small businesses have the power, however, to promote their business with creative, personalized and exceptional customer experiences, regardless of size and budget.