FIN 317
10/09/18
A Massage Therapy and Facial Spa Business Venture
Massage therapy is part of spa treatment which involves manipulation of tissues to relieve stress and improve circulation, and facial spa deals with multi-step skin treatment. According to the latest market study released by Technavio, the global spa market is forecast to rise at a compound annual growth rate of 5.66% between 2017 and 2021 (Williams, 2007). Massage therapy and facial treatment spa would be a successful business to start in Columbia South Carolina, despite a competition expected from the local resort, Massage Envy, and Hand and Stone. The clients in massage therapy and facial spa, who include both adult male and female, are in plenty and therefore a spa business would be profitable.
Massage therapy and facial spa might have a high startup cost, but one only needs to make a big purchase of equipment only once, and after that, the running cost is low (Williams, 2007). The equipment required when starting a massage therapy and facial spa includes; a massage table where the client will lay, flannel sheets and pillow to make the massage table more comfortable and massage oils for skin massage among others. Developing economies, Columbia being one of them, witness a rise in the number of working population which exhibit a high-stress level and thus the need for stress management which contribute to demand massage therapies. The anti-aging benefits of facial spa extend its market to the older adult population.
Massage therapy and facial spa business venture is one of the most profitable businesses with a high number of customers. The market for massage therapy and facial spa include both female and male. Therefore the spa can never lack clients. Many people seek out massage therapies as a stress relief technique after a long day of working and facial spas to receive anti-aging skin care treatment. Massage therapy and facial spa would be a great business to venture in as it is beneficial and after the purchase of startup equipment, the running cost is low.
Reference
Williams, A. E. (2007). Spa Bodywork: A guide for massage therapists. Philadelphia: Lippincott Williams & Wilkins.