When you finish massage school, you may want to go into business for yourself. While you might want to work for a massage company first, going into business for yourself is a common goal for massage therapists. Here are some of the tips you can use when you’re ready to start building a successful massage business after graduation.
1. Build a strong clientele
Massage therapists dream of starting their own businesses and seeing clients coming their way, but the reality of success requires hard work over an extended period.
Attracting and selecting an ideal target market and setting are also key to your success. Your ideal target market should consist of people whom you genuinely care about helping, and who see you as their go-to person for assistance.
Conduct a market survey to gain a clear picture of your client's desires. For example, find out whether they prefer individual or couple massages and what price point they would accept for these services.
2. Develop a strong referral base
Pricing may depend on factors like location and target audience; price surveys can give an indication of what people in that market will pay.
Reconnecting with past clients can also help your business expand. Offering incentives like referral discounts and free massages are great ways to encourage repeat business.
Reaching out to local businesses like naturopaths and chiropractors may lead to referrals for massage clients, while you could network with friends, colleagues, and students from massage school.
3. Build a website
An effective website is key for marketing your massage business, as it enables you to showcase services and book appointments online; book appointments; provide secure payment solutions; and host client information and payments securely.
Attract attention to your professional fee schedule in an age where people are used to seeing prices online and via social media, framing the investment of massage as more of a wellness service than an expense for your client.
Utilizing your website, you can also promote a customer loyalty rewards program to attract repeat customers and expand your business.
4. Market your business
As is true of any service professional, massage therapists must treat their practice like a business. This requires monitoring all financial aspects, such as income and expenses.
Successful practice owners also recognize they are in the customer service business, and strive to make clients into loyal supporters. This requires conducting an analysis of their client base to identify gaps or niche markets within their locale.
Make booking sessions simpler for clients by providing online booking options - they'll appreciate this added convenience while helping increase revenue!
5. Get a business license
As part of starting a massage business, it's crucial that you meet all of your state's requirements. This involves registering your business name and filing any necessary paperwork; additionally, you will have to decide how you would like your organization structured (i.e. sole proprietorship, LLC or corporation?).
Don't forget to factor in all your recurring and one-time expenses when calculating how much to charge for your services. Conducting price surveys may help identify what the market will bear.
6. Get a good insurance policy
Massage professionals must also obtain liability insurance in addition to having a business license; this will protect them in case a client makes a claim regarding damages done during a session. Some health insurers also offer massage coverage as part of their membership packages, making your business even more attractive to clients.
Wise businesses carefully weigh expenses against price points to establish an acceptable profit margin. Your location and target market's demand play an integral part in assigning this figure; this step is critical when starting a new venture.
7. Hire an accountant
Many massage therapists choose this profession out of a desire to help people and bring meaning into their lives. To do this successfully, it's also crucial that they understand business finances - an accountant will come in handy here!
Accountants can assist massage therapists in budgeting, cash flow, and expense management. Furthermore, accountants can help set up separate bank and credit accounts that separate personal from professional finances.
Use these tips to help you build your massage business after you graduate from massage therapist training.