Spa Startups: They’re ba-aack!
The recession may have battered the spa industry and shut down many facilities, but we’re finally seeing a resurgence in startups–many of whom aren’t even using the “S” word (that would be “spa”) to describe themselves. “Wellness” is a watchword for many of these next-generation businesses, but other trends inspiring spa entrepreneurs include co-working and organic lifestyles.
Few would-be spa owners understand just how much capital they’ll need to invest to get their new spa up and running–and to nurture it through its first 18 months, the critical make-or-break period. The pressure from competition is usually underestimated in new spa business plans, and these businesses can crash quickly if spa entrepreneurs are over-optimistic and under-funded.
At the high end of the market, spa guests are seeking a new approach to luxury that’s based on authentic experiences rather than over-the-top opulence. That doesn’t always translate into a strong demand for esoteric services, though. The services that guests say that they are interested in and the ones that they actually purchase (especially on a regular basis) can be very different. Creating an appealing but unique menu is a must. It’s expensive to educate the marketplace.
Whether they’re in an urban setting or a remote one, one of the biggest impediments to new spas’ growth is finding enough talented therapists. A solid in-house training program is critical to success in every market. Not only does it improve therapist quality, it aids in employee retention: spa workers value education very highly. Lower employee turnover pays off big in customer satisfaction and pure bottom-line profit.
While there are still spas for sale–a great way to fast track a startup and reduce project cost–many of them are not listed with business brokers and identifying them can take a special approach. Sometimes a would-be spa developer is too deeply in love with their particular vision to recognize a fabulous opportunity in a distressed business. Differentiating a “distressed” business from a “toxic” one is critical.
To help this wave of entrepreneurs avoid the pitfalls of developing a spa or wellness business, a new one-day Spa Startup Workshop is being offered on Saturday, October 3, immediately prior to the Wynne Business Spa Director’s Management Intensive (October 4-6) in Philadelphia’s Historic District.
For more information about the seminars, visit our management seminars page or call 610.368.6660.
Tuition details, including earlybird and multiple registrant discounts.
If you’re already involved in spa operations, you’ll find solutions for your toughest management challenges. If you’re planning a facility, you’ll leave this program with a clear-cut strategy for business success. If you’re considering a career change or advancement into spa management, the Spa Director’s Management Program will put you miles ahead of the competition. This fast-paced, information-packed program is full of original, innovative but practical concepts that are actually at work in top spas. We work hard to make sure the days you spend with us are extremely rewarding. You’ll also take home our exclusive text, an incredible reference you’ll use again and again. This includes tools you’ll be able to put to use the day you return to work. You’ll have a chance to meet other spa industry professionals, a diverse group of people, from all over the world. Participants typically represent a variety of industries and greatly enrich the program with their input. You’ll create a support network that will prove invaluable as your business or career grows. The small size of the class ensures individual attention and maximum interaction.