Why Have A Massage Therapy Practice Business Plan?

Drafting a business plan is important to any business ~ even a massage therapy practice. This document outlines a particular business that can aid a prospective business owner, financial adviser, business partner to understand the different elements of a particular business and gauge its effectiveness. A business plan explains to the reader the who, what, when, where, and how of the business.

What should be in your business plan? The following outlines the key elements of a business plan. Your business plan can have more but it should not have less.

• Who:

A business plan should address who is the business owner, what is his/her strengths, professional services utilized, but also the name of business, legal structure of business, and how it will be operated and managed.

• What:

It should also include what services and products that will be offered. What need is being met with your services/products? What void is being filled – (i.e. what benefit is your services/product).

This is also a good place to include a description of the target market (whom will purchase) of this product.

• When:

Is the business a start-up or an existing business? What is contingent upon the business owner/manager to open the business?

If it is a new business, when do you plan to begin operation, selling services/products, have an open house, begin advertising?

• Where:

Where does the business do its daily operations? What space requirements are needed? What equipment needs to be accommodated? Is it an at-home business? Are you planning to lease a space?

• How:

Financial goals and expectations should be included as well as a marketing plan. You should identify keys to how the business would be a success to you and what goals that you want to accomplish.

By writing it all down, you make your business plan a useful document instead of a dreaded chore.