A massage therapy business is an excellent choice for anyone with a passion for helping others and a keen interest in physical well-being.
Although it does require some massage therapy training and licensure or certification, the process of becoming a massage therapist is not nearly as time-consuming as that of becoming a chiropractor.
Massage therapists with their own businesses can schedule flexibility and manage their businesses. Helping clients to heal from injuries or reduce their pain can be a satisfying experience.
This article will guide you through everything you need to know about starting your own massage business and what you’ll need to succeed.
Towards the end of this article you’ll find answers for some of the most frequently asked questions on how to launch a massage business..
Massage therapy businesses provide therapeutic services to a range of customers. Massage therapists sometimes prefer to be their own bosses but may also be employed directly at a spa.
Massage is becoming more and more valued because of its health benefits. So some masseuse therapists are focusing on services that can be used in conjunction with traditional medicine.
Customers are likely to become repeat clients, which is vital for the massage therapist’s profit margins.
The massage therapy industry has seen significant growth between 2013 and 2018, and it is expected to continue to grow.
According to IBIS World, the industry saw a 7.3% annualized growth rate during this period, and the sector grew by 2.8% in 2018.
In 2018, the industry generated $18 billion in total revenue, and 279,075 businesses were added. The industry employed 401,320 workers as of 2018.
This is due to an increase in disposable income. Although the medical industry is becoming increasingly aware of massage’s health benefits, massage services remain discretionary purchases.
Increased disposable income means more people will make discretionary purchases such as a massage.
The massage therapy industry in recent years has been experiencing some positive changes. Based on a Bamboo MBLEx Review, one notable emerging trend in the massage therapy practice is increased regulation.
2005 saw the creation of the Federation of State Boards Massage Therapy Boards. Since then, more states have started to require licensure for massage therapists.
There are currently 46 states that regulate massage therapy or offer certification options. As more states regulate this field, massage therapy will be more widely accepted by the medical community for its health-related benefits.
Massage therapy has been gaining popularity among clients who are interested in preventative healthcare.
In addition, clients are increasingly looking for personalized massage. Some clients are looking for massage for pain or injury.
This trend calls for massage therapists to keep up with the latest practices and massage techniques to provide personalized, quality massage sessions.
Most clients of massage therapy businesses tend to be adults. Based on the most recent consumer survey conducted by American Massage Therapy Association, 67% of those surveyed stated that their last massaging was done for medical reasons.
In comparison, 26% wanted to get a massage to relieve stress, and 23% just indulged in self-pampering.
People looking for massages are most likely to be in their twenties or thirties.
Customers may be looking for massages for different reasons. Massage therapists can tailor their business to cater to specific audiences.
While some massage therapists might focus on how massage can help with pain relief after injuries, others may emphasize the stress-relieving benefits of massage.
Because there is a wide variety of target markets for different types of massage businesses, business owners should understand their branding and target market thoroughly.
Although a massage therapist doesn’t need a degree in business to start their own business, specific skills will prove valuable.
For traveling massage therapists, starting a massage therapy business can be affordable. However, it can be more costly for therapists looking to set up their own brick-and-mortar location.
For a mobile operation, you will need to budget a minimum of $10,000 for school, certifications, and other expenses. A brick-and-mortar location can start at $17,000 or more.
After you’ve come up with a great business idea, the next step is to write a business plan. Remember that a business plan is required by banks. Multiple studies also show that it increases the chances of starting a profitable business.
A business entity describes how a business is organized legally to function. There are four primary business entities: the sole proprietorship or partnership, corporation, limited liability company (LLC), and corporation.
These business entities have their own advantages and disadvantages, including liability exposure, costs, and administrative requirements.
It can be hard to choose the right name for a business. Names must not only be appealing to your customers but also have to be readily available.
A location near clients, in high traffic areas, and ample parking is beneficial to a massage therapy business. The size and location of an office space lease will impact the price.
Also, nearby complementary businesses that do not offer massage services can be beneficial, such as beauty salons, tanning studios, and gyms. The visibility and cross-promotions that this set-up provides can help to bring in additional traffic.
Besides getting licensure and certification by the state, massage therapy business owners must also obtain any general licenses or permits their respective states or towns require.
The most common include a sales tax permit, occupancy permit, and an employer identification number.
Finding the right business idea and being able to run it well is one thing. But, getting the financing to start a massage therapy company is quite another.
Although the initial cost of starting a massage therapy business is low, it can be challenging to raise capital because the items purchased do not have much collateral value.
To be eligible for a small loan business loan, the borrower must have good credit and the ability to invest between 15 and 25% towards the start-up costs.
It’s easier to track your personal and business finances by keeping them in separate credit and business bank accounts.
For most massage therapy businesses, marketing is an ongoing expense.
Some of the marketing efforts commonly used consist of using social media platforms, like Facebook, Instagram, Twitter, print and radio ads, including networking with other businesses, and giving away business cards.
Massage therapy businesses can offer loyalty discounts because so much of their business relies on repeat customers.
The more marketing a business owner does themselves, the more money it will save. Marketing costs depend on the type and volume of marketing.
To fully protect their business from risks, laundromats need several types of insurance.
An insurance company’s policy costs are determined by factors such as how much rent a therapist is paying and how many employees they have.
Request quotes from at least three different insurance companies to obtain a more accurate idea of the costs. Consider factors like monthly premiums, deductibles, coverage limits, and exclusions when comparing quotes.
Although the majority of the massage therapists run their own business, hiring additional massage therapist to manage the overflow of appointments is recommended. PayScale reports that licensed massage therapists make an average annual salary of $40,309.
A business budget must not only include salaries but also funds for unemployment insurance. Employee paid time off, workers comp insurance, and contributions to health insurance.
It is crucial to set up an accounting system to ensure your business’s long-term success and sustainability.
Tax compliance is essential for ensuring that the business does not get into trouble with the government. The numbers can also be used to track trends and cash flow and maximize profits.
Many massage therapists are successful entrepreneurs, but their income can vary depending on where they live, the specialization of their business, and the level of competition.
The Bureau of Labor Statistics demonstrates how the May 2018 median annual salary for massage therapists differs depending upon the industry where each massage therapist works.
The average salary for massage therapists working in chiropractic offices is $51,690. Massage therapists who work at other health offices make $44,560, while those in personal care earn $39,740.
You need to have strong business skills to open your own massage therapy business.
These skills include identifying your target market, creating marketing that appeals to them, and asking clients for a second massage at their first appointment.
The increasing recognition of the medical benefits massage has for patients may lead to new massage therapists building connections within the medical field.
Referrals have high value because this industry depends on repeat customers. Finding a medical practitioner willing to refer a massage service to a business may be a key element to its success.
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Sound too good to be true?
Of course it does!
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What exactly is the skill?
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What we mean is…
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A fair price to charge per lead, depending on the industry is 10-20%… let’s just use the tree service industry for example and go by worst case scenario.
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See why they call it digital real estate now?
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Now, we know you probably have tons of questions…