Goals for a Business in Massage
According to the U.S. Bureau of Labor Statistics, employment for massage therapists is expected to grow by 20 percent from 2010 to 2020. That is faster than the average for all occupations. Many of these massage therapists will catch the entrepreneurial bug and seek to open their own practice. Those who do will find that setting goals for their massage business paves the way to success.
Even if you open a new massage therapy practice with an existing clientele, you will want to grow your customer base. When establishing goals for growing clientele it's important to make sure growth is measurable. Instead of vague goals such as "I want more clients," set a target for how many more clients you want booked per month. Track bookings and cancellations. Pay attention to the percentage of available hours booked and set goals to increase. Consider ways to increase clients, such as referral programs.
A growing client list will generate additional revenue, but there are other ways for a massage business to make money. Set goals for increasing gift card and retail sells. Monitor daily and monthly product sales. Consider rewarding staffers for achieving goals for average ticket sales as well as monthly retail sales. By generating more nonservice revenue you increase business income without adding to your payroll.
Client retention is an important barometer for measuring the health of your massage business. Marketing and promotions can generate new clients. However, client retention is directly related to customer satisfaction. Set goals for increased client retention. Measure client retention by tracking the number of first-time clients who return within three months. Conduct followup calls after each client visit to ensure quality control. Develop a system to identify clients who have not returned in three months. Try sending out "We Miss You" postcards offering discounts to lure them back.
Marketing helps to promote your massage business. Set goals for in-house marketing, publicity, social media and advertising. Incorporate goals for each of these in an overall marketing plan. All marketing goals must be focused and measurable. Otherwise, money spent will be like throwing darts hoping to hit a target. When conducting a marketing campaign train receptionists to ask clients how they heard about your business. This will provide feedback about which marketing efforts have been most effective.
If you are reaching clientele, marketing and revenue goals, you may want to consider expansion. Expansion may mean adding space or staff to a current location or opening a second location. If your marketing efforts have been successful, you might be able to duplicate your success through franchising your business. Establishing goals for how you want to grow is as important as growing itself.