The spa industry is doing fairly well despite the pandemic. This is from the combination of adaptation and transition to the digital world. Experts believe that the spa industry will soon recover from the pitfalls it underwent during the beginning of the pandemic.
The State of the Spa and Wellness Industry
The spa and wellness industry is an essential sector in every country. The industry earned $12 billion last year, a decrease from the $19 billion it earned in 2019. This is from the quarantine restrictions that have happened during the start of the pandemic.
Experts believe that the industry is recovering this year, and it’s projected to be even larger before. Right now, the overall industry is worth $105 billion and it is expected to reach $127 billion by 2027. This is a stark recovery from an industry that shrank by a couple of percentages last year. This expected growth means that there’s more space for entrepreneurs to enter the industry. Furthermore, because of different wellness companies that have closed down last year, this is a prime opportunity to start a new one. Here’s a guide to starting your own spa and wellness business.
Find a Focus
The spa and wellness industry is filled with many sub-sectors. As a spa business, you’ll have to choose a particular niche that you are comfortable with. Are you more interested in the mental wellness of your clients? Or is it more of their physical wellness you are more interested in? Regardless of your focus, you will still offer the same generic services of every spa, but your focus will help direct your more unique services.
For example, as a spa business, you’ve decided that you want to concentrate more on the mental wellness of your clients. With this chosen focus, you can start offering counseling services alongside your other services. You can open up a gym with trainers if you concentrate more on the physical aspect, or maybe you want to help people recover from their physical disabilities after an accident. All of these will soon be available to you once you’ve grown your company.
Buy Items in Wholesale
A spa will always use a lot of items daily. The fragrance oils you use alone can cost thousands of dollars every year. Our main suggestion is to buy candle fragrance oils wholesale in online shops. Purchasing items on wholesale can net you ridiculous discounts that you would otherwise have if you purchase them individually. Additionally, e-commerce sites such as Amazon always have items on sale.
To keep yourself on a budget, jot down any items that you use daily to see your budget. Monitor it for one year, and then use the same budget (with added inflation) to purchase the same items wholesale next year. By doing it this way, you can streamline your expenses over time and see whether if you’re over budget or not.
Even though many Americans have been vaccinated and quarantine restrictions are being lifted, many spas all over the US are still not allowed to have walk-in customers. This means the only customers you’re going to have are from appointments. This is why we recommend that you build an online website where your customers can make their appointments.
Spa websites with chatbots are the ideal format. Generally, you invest in two things to make this happen: a website host and a chatbot program. It shouldn’t cost you all that much, and the new customers you can get out of these websites can certainly pay for the website’s expenses in the long run. Furthermore, it’s much easier to market your business once you’ve gotten a foothold in the digital world.
Offer Other Wellness Services
You should also be offering other wellness services such as skincare, body treatment (e.g. pedicure, manicure, etc.), and more. Consider this as an expansion of your focus. You should be doing this once you’re getting more and more customers in your spa. Remember that the longer they stay in your spa, the more likely they will be getting other services.
Offer Gift Cards
Lastly, it’s important that you offer gift cards. Spa days are an essential part of American life. It is a time to wind down and relax from the stresses of work and life. Many people would like to give that opportunity to others during their birthdays or maybe even anniversaries. This is why gift cards are a must for your company.
This is how you can start a spa business during a pandemic. Remember to do your research regarding your field of focus, as much of your starting years will be dedicated to offering those services. After that, feel free in expanding your services, while retaining loyal customers in your business. Do this, and your spa business should grow in five years or so.