25 Jan Boost Your Massage Business
Massage therapy is becoming increasingly more popular. Is your business reflecting this increase, or does it seem like you are stuck in a rut when it comes to the growth and prosperity of your massage practice?
Reevaluate how you market your practice – there is always room for improvements. What better time to think about increasing business than right now?
Determine your costs
The first step to bringing in new clientele is to first take a look at your expenses and pricing for services offered. Before you can figure out how to adjust your pricing, look at your expenses, which generally fall into three categories:
Annual expenses: license renewal, business permits, etc.
Monthly expenses: rent (if you rent), utilities, supplies you restock monthly, etc.
One-time expenses: things you purchase directly that don’t need to be renewed monthly or yearly, such as massage tables, other furniture, linens, etc.
Once you have a better understanding of what you are really spending, you can estimate your revenue. If you know about how much your business brings in on a monthly or yearly basis, you can subtract your expenses from your revenue (taking taxes into consideration) to find out your gross income.
Learn your market
Knowing your market is key to the overall success of your practice. A main concern is price points; do some research in your area to determine what other massage therapy practices are charging for similar services. Are you charging significantly more, less, or about the same?
The next thing to consider here is your location. Are you in an area that can afford higher pricing? Are you in a city or small town?
Finally, consider what you need to be charging to be able to make a living. One way to adjust prices is to offer more options at lower price points (such as mini sessions of various massages). This encourages spending and can be a way to attract more customers.
Know your target audience.
Customers are what make your business; knowing how to reach potential customers that fit your practice is crucial. What are your most popular services? What problems do clients often come to you for? Understand who your target audience is and base your marketing strategy off of that. You will have a better understanding of where to market your business (gyms, hospitals, offices, etc.).
Focus on current clients.
It is much easier and more financially considerate to keep existing customers than it is to attract new customers. Repeat customers make up around 72% of massage therapy appointments, according to a 2011 Massage Profession Research Report. Focusing your attention on these customers is a good way to secure a future for your business. Discounts for clients who purchase multiple sessions or refer someone to you are great ways to show your appreciation and keep them coming back.