Every business has expenses, and these expenses must be taken into consideration when planning a start up. Starting your own massage business is no different, and there are a number of different expenses that need to be taken into consideration. Even with a thorough plan, you’ll need to set aside capital for budgeting over-runs and unforeseen expenses. Even the most careful planners set aside extra back-up capital, so keep this in mind when setting up your expense inventory.
While the below is far from exhaustive, it is a good walkthrough of the types of things you’ll need to keep in mind when setting up your own massage practice. Remember that each office is highly unique, so you can set up your office however you like. With this in mind, there are some set expenses that all massage practices will have. For example, your business license.
Setting Up the Office
One-time expenses are always steep, but remember you shouldn’t have to replace these items for sometime. One-time expenses include furniture for your front office (desks, chairs, computers, filing systems, lights, couches for the waiting room, side tables, magazine holders, and paintings for the walls, and any additional décor). In terms of communications, you’ll need a front office phone, printer, and copier as well. Setting up your own office will likely be very similar since you’ll need access to the same sort of things in your private office.
You’ll also need to set up each massage room. The amount of furniture you’ll need will depend on the number of rooms you have in your office. Each room will need either a light fixture or lamp. You’ll also need a massage chair or bed. Some type of table or desk should also be in each room, as well as a cabinet for storage. Decor is another expense, and the type will be up to you.
Depending on your office, and the kinds of treatments you’ll be offering, you may also want to invest in an ice machine. This is a fairly large expense, but it will be well worth it. Be sure to factor in the cost of freezer bags or other ice packs in order to be prepared to use the ice when clients come in.
If you’re going to have a number of employees, setting up a break room may also be a good idea. This could contain a coffee maker, microwave, fridge, table, and couch. This gives your employees a place to have a break or eat their lunch, without making them feel that they have to get out of the office or spend money just to have lunch. It also gives employees a chance to mix and mingle, which is great for morale. A team that is able to have a bit of fun together at work generally performs better than those who don’t have this dynamic. While having a break room isn’t essential, it really will help to make your office feel like a more welcoming place to work. If the office is just going to be you and your partner, this is an expense you can likely spare since you’ll each have your own rooms or offices where you can meet, have lunch, and work.
On-going expenses are those expenses that you’ll have to pay each month. While the goal is that the business will pay for itself, this isn’t always the case for the first couple months of a businesses life. Be sure that you’ve planned for an budgeted for paying for these expenses without additional income. Take into consideration any and all on-going expenses that you may have. This will include expenses like Internet connection, phone lines, electricity, gas, sewer, and rent.
You’ll also need to take into consideration on-going maintenance items. This includes things like paper for the printers, toilet paper, paper towels, laundry for towels and rags, pens and pencils, etc. This is one huge area that planning for unforeseen expenses comes in. A lot of times you don’t realize all the little things you’ll need to start and maintain a business.
For a massage business, you also need to keep in mind the lotions and creams necessary. Cleaning the massage space (cost of cleaner and cleaning supplies), accountant expenses; designer expenses for logos and websites, and wages for employees.
Another on going expense to keep in mind is your marketing expense. Marketing isn’t just an optional part of running a business. It is an essential part of running and owning a business. Marketing can happen in a number of ways, and none are free. Even those things like social media posts that don’t have a monetary amount to post, have a monetary amount in terms of your time. Keep in mind marketing things like newspaper advertisements, billboards, Internet advertisements, business cards, and postcard mailings. You may also want to use an email service to help you set up mass emailing for newsletters, specials, and the like.