Massage Therapy Business Plan free essay sample

Most likely, the Company will hire a qualified business broker to sell the business on behalf of Massage Therapist, Inc. We will write a custom essay sample on Massage Therapy Business Plan or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Based on historical numbers,the business could fetch a sales premium of up to 4 times earnings. Mr. Doe would need to find a massage therapist practitioner to take over the practice. This transition period could take up to one year’s time. 3. 0 Massage Therapy Services and Products Below is a description of the massage therapy services and products offered by the Massage Therapist. 3. 1 Massage Therapy The primary source of revenue for the business will be the sale of massage therapy services rendered to Mr. Doe’s patients. Mr. Doe will perform all types of massage therapy including deep tissue massage, general massage, specific muscle massage, and other services that relate to his practice. In time, the business may hire additional massage therapists that will be able to provide services to clients of Massage Therapist, Inc. This will greatly increase the gross billings of the business. 3. 2 Sales of Herbal and Eastern Medicine Products To a limited extent, the business will carry a small inventory of herbal medicines and Eastern medical products that will be used in conjunction with the treatments rendered by Mr. Doe. Management expects that this aspect of the business will generate approximately 10% of the business’s aggregate revenues while producing contribution margins of 70%. In this section of the business plan, you should further describe the products and services that you intend to offer to your customers. If you need to add more product categories, please consult the instructions that were included in the BizPlanDB. com zip file. 4. 0 Strategic and Market Analysis 4. 1 Economic Outlook This section of the analysis will detail the economic climate, the massage therapy industry, the customer profile, and the competition that the business will face as it progresses through its business operations. Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue for a significant period of time, at which point the economy will begin a prolonged recovery period. However, businesses, such as massage therapy practices, tend to operate with substantial economic stability as many people consider these treatments to be essential to their well being. 4. 2 Industry Analysis Within the United States, there are approximately 10,000 businesses that specialize in providing massage therapy to the general public. Each year, these businesses aggregately generate $2. 7 billion of revenues while providing jobs to more than 31,000 people. Over the past five years, annual payrolls have exceeded $900 million. This is a mature industry, and the anticipated future growth rate of the industry is expected to equal that of the general economy. However, some economists have predicted that the industry will grow faster than the general economy as the Baby Boomer generation begins to demand more massage therapy services. 4. 3 Customer Profile The Massage Therapist’s average client will be a middle to upper middle class man or woman living in the Company’s target market. Common traits among clients will include: †¢ Annual household income exceeding $50,000 †¢ Lives or works no more than 15 miles from the Company’s location. †¢ Will spend $20 (via co-pays) or $150 per visit to the Massage Therapist. In this section of the analysis, you should describe the type of customer you are seeking to acquire. These traits include income size, type of business/occupation; how far away from your business is to your customer, and what the customer is looking for. In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc. 4. 4 Competition This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. If there are a number of competitors in the same industry (meaning that it is not feasible to describe each one) then showcase the number of businesses that compete with you, and why your business will provide customers with service/products that are of better quality or less expensive than your competition. 5. 0 Marketing Plan Massage Therapist, Inc. intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of the Massage Therapist. 5. 1 Marketing Objectives †¢ Develop an online presence by developing a website and placing the Company’s name and contact information with online directories. †¢ Implement a local campaign with the Company’s targeted market via the use of flyers, local newspaper advertisements, and word of mouth. Establish relationships with referring physicians within the targeted market. 5. 2 Marketing Strategies Mr. Doe intends on using a number of marketing strategies that will allow the Massage Therapist to easily target men and women within the target market. These strategies include traditional print advertisements and ads placed on search engines on the Internet. Below is a description of how the business intends to market its services to the general public. The business will also use an internet based strategy. This is very important as many people seeking local services, such as massage therapists, now the Internet to conduct their preliminary searches. Mr. Doe will register the Massage Therapist with online portals so that potential customers can easily reach the business. The Company will also develop its own online website showcasing Mr. Doe’s expertise, services rendered, location/contact information, and preliminary pricing information. Finally, Massage Therapist, Inc. will work closely with referring physicians and allied health professionals that will provide the Company with its initial customer base. In this section, you should expand on how you intend to implement your marketing. List publications, local newspapers, radio, and other outlets that you will use to promote your business. Discuss how much money you intend to spending on marketing. 5. 3 Pricing In this section, describe the pricing of your services and products. You should provide as much information as possible about your pricing as possible in this section. However, if you have hundreds of items, condense your product list categorically. This section of the business plan should not span more than 1 page. 6. 0 Organizational Plan and Personnel Summary 6. 1 Corporate Organization [pic] 6. 2 Organizational Budget |Personnel Plan Yearly |   |   |   | |Year |1 |2 |3 | |Mr.