For those who choose to venture into the wellness and spa industry, it can end up being a hugely lucrative decision. The growth of the global spa industry has even taken the experts by surprise, with the global spa market being forecast to grow annually by 5.66% until 2021.
Why the recent demand for spas and wellness centres? Well, is it really surprising that people are flocking to places that allow them to unwind from the hustle and bustle of everyday life? Being permanently attached to smartphones and working harder than ever, the need to take some time out from the chaotic pace of modern life has become more necessary than ever.
With the increase of spas worldwide comes the ever changing trends of the spa industry, all of which you are expected to keep attuned with if you are to stay ahead of the competition.
If you own a spa, want to boost sales and hope to see a spike in enquiries, try implementing a few of these suggestions below to start expanding your spa business.
Individuals do not just want the standard experience anymore. Personalised treatments have become more popular than ever before and being a spa that offers bespoke experiences will make you stand out from your competitors.
Questionnaires that delve deeper into the needs and desires of customers have become more frequently used and this information can help your staff deliver a much more memorable experience.
Getting all customers to identify specific needs and concerns they have about their body can dramatically improve the results your spa deliver – from tender muscles and joints, to skincare issues, ensure that your spa positions itself as an establishment that can help with almost anything. Catering to the different needs of many will mean that your cash flow remains in a healthy state all year round.
Create the Perfect Outdoor Area with Idyllic Views
Most people opt to escape to a spa for a long weekend because they are desperate to get away from the high levels of stress in their life, even just for a few hours. There is a reason these trips are often referred to as a “spa break” after all.
During the colder winter months, guests will want to enjoy their treatments, strike up conversation in the jacuzzi and wrap up warm in bed with a bottle of champagne and a face mask. But when summer arrives, and the sun starts shining, your guests will want to embrace the warm weather while they can.
Your spa business may already be situated in the ideal location to do this – if you have land to build on, then you are already half way there. You can plan to expand and create an outdoor area that all guests can utilise during their stay. If you do not have the extra space available, but feel your small business is starting to outgrow its current location, now might be the time to start planning a relocation.
Once you have an outdoors area available to build on, you have two choices. You can either keep things simple and tackle it in a more financially viable way by installing a pleasant seating area, some beautiful garden features and some sun loungers… or you can invest in a few more noteworthy additions, such as hot tubs and even a swimming pool.
If you have plans to grow your small business but are being held back due to a lack of working capital, a secured business loan might be the perfect solution your SME is looking for.
Sell the Products Used During Treatments
It is not just the expert techniques and calming music that most individuals appreciate during their treatments. The products your spa use can literally be the difference between attaining repeat custom and having those very same customers look elsewhere after they have left.
Your spa should trial various products and get feedback from customers about which they prefer. The products your spa therapists use should be high quality and it is essential that you take into account all skin types. Failing to have skincare products for those with hyper-sensitive skin, for example, is a huge mistake and one that should be avoided at all costs.
Once you have created the perfect range of products for your customer base, retail is the next obvious step. It is a vital aspect that contributes to a spas profitability and learning how to boost your spas retail sales could make a huge change in how much profit your SME produces.
But remember to not overdo it. Too much choice can often result in a no sale altogether, so overwhelming your clientele with too many different brands is something to avoid. Instead, choose two or three fantastic brands that your spa is happy to stand behind, use those products only during treatments and then sell the same ranges to customers. Make sure your guests know exactly what products were used during their treatments to ensure an effortless sale afterwards.
Invest in Hydrotherapy Experiences
A growing trend within the spa industry is the use of hydrotherapy, so if you really want to differentiate yourself from other spas offering facials and massages, this is certainly one route to explore.
Hydrotherapy is a whole-body treatment that takes place in water and it is very similar to the physiotherapy performed in standard pools – yet hydrotherapy pools are different as the pressure, movement of water and temperate are all controlled and altered depending on who is using the pool and for what reason.
Doctors regularly prescribe hydrotherapy courses to patients as part of a treatment program, so your spa can open itself up to a slightly different clientele as a way of increasing profit.
Hydrotherapy is also popular with athletes as it can help them maintain a healthy, fit body. Athletes often visit spas to get treatments to aid their gruelling fitness schedules, so why not start offering hydrotherapy alongside sports massages and sauna sessions too?
As a starting point, look into the hydrotherapy basics, including mineral and seaweed baths, shower massages, a hydrotherapy tub and hydromassages.
Get Involved with Fire and Ice Treatments
More and more spas are starting to offer this type of treatments, so do not fall behind by failing to invest when it is crucial to do so. Your customers want to feel like they have splashed out on a luxury experience and offering a body scrub and a pedicure will not be enough to meet their expectations.
Fire and Ice experiences have become hugely popular thanks to their ability to stimulate the senses. They are based on the ancient ritual of bathing where the body is exposed to a combination of hot and cooling experiences. Fire and Ice packages are sold with the ultimate aim of inducing deep relaxation and they are the perfect prerequisite to prepare customers for other treatments.
If you decide to make the worthy investment in fire and ice experiences, make sure you do some research on which treatments are the most profitable for your business. Mineral steam rooms, multi-sensory showers and snow and ice rooms are all great starting points and once your spa establishes itself as a go-to place for fire and ice experiences, you can start to funnel extra funding into getting more equipment.
Understandably, opening and maintaining a successful spa business is not an easy feat. Whilst this type of business can generate a high amount of income, a spa venture demands a lot of financial commitment to begin with and keeping up to date with new treatments is often no easy task for a growing SME.
If your spa business has been trading for at least 4 months and takes card payments, the Nucleus Merchant Cash Advance (MCA) could be the sort of alternative funding your business is seeking. Known for its flexible repayment terms and an effortless application, our BCA product can help your business meet growth demands, purchase new equipment or even secure a new premises for your SME to operate in.
If you are experiencing cash flow challenges or want to realise your business growth plans, get in touch with our team of Funding Specialists today on 020 7839 9451 or email [email protected].