If so, congrats! You’re entering into one of the fastest growing industries in California. With growth comes competition. Like every other industry competition is expected. Be better than your competitors and you’ll have nothing to fear.
As you’ve heard time and again, the secret to success is to have a plan and follow that plan. So, we’ve outlined a simple plan for you to begin with.
1. Do your homework
Know California state laws for opening a med spa. (http://www.mbc.ca.gov/ | http://www.mbc.ca.gov/Licensees/medical_spas-business.pdf
Location, Location, Location - Research your tentative location. I recommend researching at least 3 areas. Location could make or break you. Do you ever go to a mall or shopping center and wonder why a certain store is there. Some stores are just not meant to be where they are. Don’t be one of them.
Research the demographics in the area you wish to open. This will help you to also price your products.
Research your competition in a particular area. Make note of their strengths and weakness. This could help you a great deal with many things such as product selection and spa layout.
Go to some trade shows to learn about what’s hot and what’s not.
2. Marketing Plan
How do you plan on marketing?
Know your clients or prospective client.
Mailers, Trade Shows, Online Social Media (probably the best for your business), Google SEO , Google Maps
Equipment, Scheduling Software, Skincare POS System – credit card processing for skinceuticals | med spa
Aesthetician, other Staff, massage therapist, RN’s, Medical Practitioner, etc.
Cost of marketing. Online seo, mailers, etc.
4. SWOT Analysis – What are your strengths , weaknesses, opportunities and threats:
Strengths – You should outline how you’re going to be different and better than the competition. What will you offer that they don’t or can’t
Weaknesses – Weaknesses are hard for some of us to recognize. Get an outside perspective. Show them your plan. Ask them to critique it. Ask them to also provide construction criticism of YOU. Yes – You. Not everyone is suited to be an entrepreneur.
Opportunities – Gather as much info you can that present you with opportunity for the next 5 – 10 years. What are the trends in the industry?
Threats – What threats are visible to you? What threats could derail your business
Well, I hope this helps and good luck! No not really. I do not believe in luck but rather hard work. It seems the people that work hard find all the luck. So get to work and work hard with passion and you will succeed!!!