The 3 Step Formula For Exploding Your Spa Business
One of the things I've discovered is that spa owners as a whole are pretty frustrated
with how hard they have to work in order to make any real money in their day spa business.I've also discovered two really big things that spa owners have in common. The first biggie is that they feel out of control. They're usually putting out so many fires in their business that it's a miracle that they have five minutes a day to actually produce results in their business. We call this only working in your business instead of working on your business. Usually when you work on your business, you'll find that to be the most productive and profitable time that you will have in your business.
The last biggie that I have discovered, and this is really very, very bothersome to most spa owners is the fact that they thought that they could actually buy a business and develop it to a point to where either they could eventually sell it. It would have value that they could sell, or they could pass it along to their next generation, to their children, in order to have something of equity that they could pass along.
Unfortunately, many day spa businesses have very little value. What is the common theme to all of this is that being good is just no longer good enough. As I mentioned before, a lot of spa owners thought as though they could have the best services and the greatest locations and they would do great, and that's just not good enough.
What they really need are marketing systems. And what we discovered was that there's really only one formula and one formula only in order to grow your business. It's a very simple formula, but once you know it, it becomes so empowering in how you look at your day spa business that it can change completely the economic dynamics of your business. Here's the three step spa business-building formula. And by the way, before I give you all the steps, let me just also this to you that there are only three ways that you can build your business, and these are the only three ways that you can do it.
Step number one is that you have to cost-effectively acquire more new customers. Unfortunately, most spa owners who are trying to acquire customers are not doing it in ways we call cost effective. They're spending so much money on expensive advertising like newspaper advertising, radio or television, where they are actually costing them, if they figure out how much it's costing them to be in that media and how many new customers they get coming in the door off that media, if they see that they're spending hundreds and hundreds of dollars of their money to get each customer to walk in the door. There are better ways to cost-effectively acquire new customers.
The second step of the three step business building formula is to get the customers that you already have - that have been into your spa previously - to get them to return more frequently. When you start moving to the second step, it becomes much more profitable because it's much less costly to bring back a previous customer into your business than to get a first time customer into your business.
Then, the third step of the three step business building formula - and this is the one area that I find most spa owners either don't know about consciously...or seem to ignore it. The third step is once the customer is in the spa, actually developing very intelligent strategies in order to get that customer, once they're in the spa, to spend more each and every time that they're in the spa.
By focusing on this three-step spa business-building formula, you can systematically grow any spa business to heights you never dreamed possible.
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