Seven Practical Start Up Tips For Potential Dayspa Owners

The Spa business is tough. It's competitive. It's expensive to start up and it can be difficult to make a sizable profit from your Spa business once you've opened doors. Here are seven practical tips to help you get ahead in the Spa industry before you've even opened doors!

1. Figure out a Business Plan before you purchase your Spa.

If you have never owned a business before, make sure you have a sound Business Plan before going ahead. Business Plans can be easily downloaded from the internet for free so Google "Business Plans" and choose one that best speaks to your needs and assists you in seeing the bigger picture.

For example...
- Research your Target Market and get an understanding of your potential clients needs and desires when visiting a Dayspa.

- Decide if you're going to specialize and understand the advantages and disadvantages of specializing. For example, perhaps you would like to open up a male only Spa or a womens only Spa.

- Understand the Competition. Who they, where they are situated and what they are offering. Sign up to their monthly newsletters to see what specials they are running and have treatments at their establishments. You never know, it could give you a few ideas on how to make your spa unique.

- Research how the Spa market is doing in the current economic climate and which geographic area is most likely to bring you the most traffic to your business. If possible, have meetings with a few existing Spa owners to understand expenditure (start- up and monthly overheads) vs. potential revenue as well as any other potential hidden costs you may not be aware of.

2. Figure out a Marketing Plan before you purchase your Spa.

Once you have your Business Plan in hand and decide to go ahead, make sure that you have a Marketing Plan. I've seen so many businesses who are owned or managed by people who still work via fax! It is unacceptable in today's world to work in the dark ages, so get yourself a computer and get informed. If you do not have a marketing background, employ a part- time or full time marketing manager or consultant to assist you.

You should decide on a start- up and a monthly marketing budget and this person - or yourself - should work within this allocated budget. You can waste a lot of money on the wrong marketing tools, so be sure to do it right. If you would like a few marketing tips, please do a search in this ezine directory for another of my articles titled "Inexpensive Marketing Tips for Dayspa Owners".

3. Find the right Location

After you have done the above the next step is finding the right location for your business. This is crucial. I have visited many Spas over the years, some in great locations and some in terrible locations and it really does make a huge difference as to whether your Spa business will fail outright, just tick over or make a huge profit. If people feel unsafe they are never going to come back! And no, you do not have to be situated in the best hotel in town to get business, but a location that has a high traffic volume in a nice, safe, beautiful area definitely helps.

For example, an ideal location would be on a main road where signage can be visible from the road, or in an established hotel, resort or housing estate.

Alternatively you could choose a Wellness Centre or shopping centre where regular customers already frequent. Rental can be high in shopping centres, however, so another option would be to purchase a house with business rights in a central location or on a main road and in this way you would be investing in property as well as building a business, both of which could be sold at a profit over time.

4. Ambiance - get some!

Once you have your ideal location, invest in atmosphere! Decor is important and will make a lasting impression on your clients, most of who will return if they feel comfortable and impressed with your venue. Don't make decor the key focus of your business but definitely include the following:-

- Soft Lighting. Soft lighting is important as are candles and sound and scent.

- Music. Play relaxing music in the treatment rooms and through out the Spa. I once had a massage in a room where there was no music and the clock was ticking very loudly. Needless to say I couldn't wait to get out of there and definitely didn't find the experience relaxing!

- Smell. Make sure your Spa smells nice... smelly towels are definitely a no- no so be sure to wash your towels after every treatment and take care of general cleanliness. A nice smelling candle or incense or spray in the foyer and rooms also goes a long way to enticing your customers to re- visit your Dayspa.

5. Employ expert Therapists

Even more important than good decor is good staff. Do not skimp on finding the best therapists. People will not return to your Spa if they have not had a good treatment believe me. And they more than likely won't complain to you, but they'll tell all their friends about the awful experience they had.

Pay your staff well, incentivise them on sales of beauty products and send them on training courses to keep them skilled and motivated. Also check up on them regularly to see that their quality is not slipping.

Encourage your clients to fill out performance sheets after their treatments and act on any negative feedback. I know of a Spa who only hires therapists who have been therapists for more than five years and they really do offer amazing treatments and as a result, I'm a regular customer.

6. Sell Product

Selling beauty products such as a Facial range or a Cosmetic range will yield good revenue from commission. Do the research (from your potential clients as to what they want to use on their faces and bodies, as well as product houses for prices, distribution etc) and invest in good quality products that your clients can purchase from your Spa.

Incentivise your staff to sell products by offering them commission on sales and see the products fly out the door.

7. Do something different - there are hundreds of Spas out there!

Have something in your Dayspa that people talk about. Either offer a unique therapy that no- one else has heard of, or have some kind of structural "WOW" that people talk about.

For example, I once saw a Spa with a relaxation area that was dimly lit with what seemed like millions of "stars" on the roof. The relaxation area had wonderful reclining chairs with blankets you could wrap yourself in under the stars. It was simply stunning and certainly something I told all my friends about.

I hope you have found these tips useful. It takes courage to open your own business so take heed of the above tips and then go for it!

Becoming a billionaire Some of the most fabulous billionaires in the world

Becoming a billionaire

Some of the most fabulous billionaires in the world

The Market500 European Wealth List contains some of the most famous billionaires in the world. For our analysis of the continent’s wealthiest people, however, we chose to cast a light on some lesser-known names. The individuals profiled here represent a broad cross section of Europe’s business elite and give a fascinating insight into the diverse ways in which European wealth has been created. From communications moguls to TV executives, through canny investors and property barons, the entire gamut of industries, professions and sectors is represented. With names from Poland and the Czech Republic, as well as those from traditional wealth centres like Germany and the United Kingdom, we have sought to create a balanced view of European wealth. FAST AND FURIOUS Judging by the plethora of clips available on YouTube showing him blasting through the Polish countryside in highly-tuned rally cars, Michal Solowow seems to enjoy life in the fast lane. A stock market investor, wealth has enabled Solowow to pursue a dream of his youth and take part in rally contests around the world. Solowow began investing in property shortly after finishing his university studies. He is now a strategic investor in Echo Investment S.A. and three other companies listed on the Warsaw Stock Exchange. His stakes include Cersanit S.A., a bathroom ceramics manufacturer, Barlinek S.A., which makes wooden floors and Synthos S.A., formerly known as Dwory and one of Poland’s largest chemicals companies. In addition to his property and construction-related holdings, Solowow has funds that manage capital from stock exchange transactions: the funds are invested in futures, foreign exchange and commodities. He is also involved in media companies. While he is no longer actively involved in the management of his companies, he still controls Ultra Pack S.A., a leader in the production of corrugated board, and North Fish Polska, a chain of fish and seafood restaurants. As well as being the richest man in Poland, Solowow is now one of the busiest rally drivers in Europe: at the wheel of an Abarth Grande Punto S2000, Solowow takes part in more than 20 events a year in different parts of the world. In 2006, he placed third overall in the European Rally Championships. His rally team, sponsored by his bathroom tiling company Cersanit, lists his favourite sports as tennis, football and skiing and his favourite drinks as mineral water and wine. Sources:    www.cersanitrally.pl / www.echo.com.pl NAME:   Michal Solowow COUNTRY:   Poland NATIONALITY:    Polish WEALTH:    1.5-2 billion euros    (Ave 1.75 billion euros) RANKING:    =257th STATUS:    Self-made INDUSTRY:    Media; Investments AGE:    45 MAGNA-FYING GROWTH Born in Austria, Stronach emigrated to Canada and founded the tool and die company Multimatic Investments Limited. The firm later expanded into the production of automotive components. In 1969, Multimatic Investments Limited merged with Magna Electronics Corporation Limited, and subsequently became Magna International Inc. Magna diversified throughout the 1970s and grew strongly in the 1980s. The company now makes auto parts for manufacturers like General Motors, Ford and Chrysler and also owns Magna Steyr, the world’s biggest non-brand car manufacturing company. Based in Austria, Magna Steyr builds cars such as the BMW X3 and the Chrysler Voyager under license. The group generated sales of over $26 billion in 2007 having grown by an average of 17 percent a year over the previous 20 years. Part of the firm’s success is attributed to a novel structure under which each employee owns part of the company. Sources: www.magna.com NAME:   Frank Stronach COUNTRY:   Switzerland NATIONALITY:    Austrian WEALTH:    900 mln-1.5 bln euros    (Ave 1.2 billion euros) RANKING:    =457th STATUS:    Self-made INDUSTRY:    Manufacturing - Automotive AGE:    75 BANKING ON SUCCESS Leszek Czarnecki represents the recent boom in Eastern European markets and is one of the leading entrepreneurs in Europe: a pioneer in the Polish finance and leasing business, Czarnecki has also benefited from the country’s real-estate boom. As well as a majority stake in banking, insurance and leasing group Getin Holding S.A., Czarnecki is also the main shareholder in development company LC Corp S.A. Construction projects have included a shopping and office centre in Wroclaw and the Sky Tower, Poland’s highest residential building. After graduating from the Wroclaw University of Technology, Czarnecki received a PhD in economic science from the city’s University of Economics. In 1986, he started his first business venture, Przedsiebiorstwo Hydrotechniki i Inzynierii TAN S.A., a company that specialised in underwater works and which reflected his interest in diving. Later, after investigating the unattractive options for leasing a car, he founded his own leasing company, Europejski Fundusz Leasingowy S.A. Established in 1991, the company was the first and largest leasing company in Poland. Czarnecki sold shares in the firm to France’s Credit Agricole for 263 million euros and then bought a 25 percent stake in the newly created Polish Credit Agricole subsidiary. He later sold this stake back to the French. Czarnecki is no stranger to business awards: in 1998, ‘The Wall Street Journal’ named him the best chief executive in Central Europe and, in the same year, he won the finals of the global ‘Young Business Achiever’ competition in Beijing. Other media outlets have noticed the Pole’s remarkable ascent to the top of his country’s Rich List: in April 2004, ‘The Financial Times’ recognised him as one of 25 emerging stars of European business, a man who would in the near future be shaping the direction of financial markets. INSEAD in France has named him ‘Businessman of the Year from Eastern Europe’ while the Polish edition of Forbes magazine named him ‘Player of the Year’ in 2006 and 2007. Sources:    www.getin.pl / www.skytower.pl NAME:   Leszek Czarnecki COUNTRY:   Poland NATIONALITY:    Polish WEALTH:    1-1.5 billion euros    (Ave 1.25 billion euros) RANKING:    =354th STATUS:    Self-made INDUSTRY:    Financial services, legal services AGE:    46 CZECH SUCCESS The wealthiest man in the Czech Republic, Kellner founded his investment fund PPF with colleagues in 1991 at the time of Czech privatisation. His investment fund was a great success and acquired shares in various companies, including the Czech Republic’s largest insurance company Ceska pojist’ovna. In 2007, PPF signed a contract with Generali to combine their insurance operations in Central and Eastern Europe. With a total of 5.1 billion euros in assets and premium incomes of 2.6 billion, the combined group has more than nine million clients. Kellner was a graduate of the University of Economics, Prague, Faculty of Industrial Economics in 1986. He owns a majority stake in PPF Group and manages its strategic development and planning. Sources: www.ppf.cz NAME:   Petr Kellner COUNTRY:   Czech Republic NATIONALITY:    Czech WEALTH:    3.5-4 billion euros RANKING:    =104th STATUS:    Self-made INDUSTRY:    Financial Services, Legal Services AGE:    44 ON THE WINGS OF FORTUNE The edge of a lake in rural Austria is the unlikely setting for this success story. Austrian entrepreneur Dietrich Mateschitz founded Red Bull GmbH in 1984 in Fuschl am See, a tiny village near Salzburg. A quarter of century later, Red Bull is the leading global energy drink and a world recognised brand.After graduating from a Viennese university with a degree in marketing, Mateschitz worked for consumer goods companies before he discovered the drink that would become the basis for Red Bull. Creating a global brand from the fizzy energy drink required some original advertising: Red Bull’s quirky campaigns together with its sponsorship of various extreme sports captured the attention of an entire generation and ensured that Red Bull became a global leader. The company has recently announced plans to launch its own cola: made from natural sources, the drink contains kola nut and coca leaf, marking it out from its rivals. A keen pilot and motor racing fan, Mateschitz created the Red Bull Racing Formula 1 team after buying Jaguar Racing from Ford in 2004. Mateschitz later joined forces with Gerhard Berger and purchased Minardi – creating Scuderia Toro Rosso. A change in Formula 1 regulations means that Mateschitz will sell Toro Rosso. Among Mateschitz’s other interests include the former Formula 1 racetrack A1 in Spielberg, Austria, which Mateschitz hopes to turn into an automotive test facility, and the Fijian island of Laucala, which is planning to turn into a luxury resort. In addition he owns a football club and a construction company. Sources:    www.redbull.com NAME:   Dietrich Mateschitz COUNTRY:   Austria NATIONALITY:    Austrian WEALTH:    2-2.5 billion euros    (Ave 2.25 billion euros) RANKING:    =187th STATUS:    Self-made INDUSTRY:    Manufacturing – Food,    Beverages; Formula One AGE:    64 STRENGTH THROUGH DIVERSITY The motto of Sean Quinn’s multinational conglomerate was well-chosen: a diverse organization with interests throughout Central and Eestern Europe, Quinn’s group has risen from humble beginnings to become a multi-billion euro company. Epitomising the growth experienced in the years of the Celtic Tiger, Quinn has diversified a cement business he started in the 1970s into a portfolio of companies spanning different sectors: insurance, construction supplies and most recently healthcare. Quinn says it is the market leader in Ireland and the UK in the production of container glass products for the drinks and food trade and is a major provider of building insulation products. The company is also expanding its commercial property portfolio in established and emerging economies. Quinn himself is an apparently publicity shy individual and protective of his family. He is currently Ireland’s richest man, just ahead of investor Dermot Desmond. Sources: ww NAME:   Sean Quinn COUNTRY:   Ireland NATIONALITY:    Irish WEALTH:    4.5-5 billion euros    (Ave 4.75 billion euros) RANKING:    =72nd STATUS:    Self-made INDUSTRY:    Social Services AGE:    60w.quinn-group.com GERMANY ONLINE Ralph Dommermuth began his career by training as a bank clerk before moving into sales with a computer dealer in Montabaur, Germany. In 1988, Dommermuth went self-employed and founded 1&1 Marketing GmbH. Since its foundation, 1&1 has been heavily involved in all forms of PC communication – initially as a marketer of third-party products, such as Teletex, ISDN, Btx or T Online, and since 1996 increasingly as a developer and supplier of its own Internet applications. At the same time, the company invested in a variety of young, innovative Internet companies. In 1998, Dommermuth took the company public, becoming the first Internet company to be listed in the ‘Neuer Markt’ segment of the Frankfurt stock exchange. The company was later realigned as an Internet firm. In 2000, 1&1 became United Internet – now a leading Internet Service Provider (ISP) with over 7.23 million customer contracts. United Internet aims its services and fast internet connections at private users, small/home offices (SoHos) and small to mid-size enterprises (SMEs). These groups are served by the brands GMX, WEB.DE, 1&1, InterNetX and Fasthosts. Source: United Internet NAME:   Ralph Dommermuth COUNTRY:   Germany NATIONALITY:    German WEALTH:    1-1.5 billion euros    (Ave 1.25 billion euros) RANKING:    =354th STATUS:    Self-made INDUSTRY:    IT, Information and    Communication Tech AGE:    44 FREE.FR SPIRIT In the conservative world of French business, Xavier Niel is a rare entrepreneur and a colourful character. An early innovator in the world of data communications, Niel launched his career at the tender age of 16 – providing online sex chat services to minitel users. He has been involved in data communications, the Internet and telecommunications since the late 1980s. He created Worldnet in 1993, France’s first Internet service provider which was later sold to Kaptech (LDCom Group) in December 2000. Later, he founded Iliad Group, a major French broadband Internet company in which he is majority shareholder. He serves as deputy chairman of the board of directors and chief strategy officer. Free.fr offers a flat rate, high-speed Internet connection that gives the company’s approximately three million users access to IPTV, unlimited voice calls over the Internet, a digital video recorder and broadband over power lines. Iliad’s success has been in keeping costs low by developing hardware and systems in house while steadily increasing its offering to customers: the monthly price doesn’t change but services multiply. The firm recently introduced next generation wireless connectivity for users of its new Freebox. Sources:   www.free.fr / www.iliad.fr / www.axa-im-talents.com NAME:   Xavier Niel COUNTRY:   France NATIONALITY:    French WEALTH:    2.5-3 billion euros    (Ave 2.75 billion euros) RANKING:    =154th STATUS:    Self-made INDUSTRY:    IT, Information and          Communication Tech    AGE:    40 LEAVING A LEGACY Born in Damascus in 1939, Wafic Saïd is a successful businessman, a philanthropist and racehorse owner. He started his business career in banking in 1963 at Switzerland’s UBS in Geneva. In 1969, he established a project development and construction management business in Saudi Arabia. Over the next two decades, as Saudi Arabian infrastructure development boomed, his group handled some of the largest public sector projects in the Kingdom. Today, Wafic Saïd is the Chairman of Saïd Holdings Limited (SHL), an investment holding company with investments in Europe, North America and the Far East. In 1995 he co-founded Sagitta Asset Management Limited, an international asset management business, subsequently acquired by Fleming Family & Partners. As a consequence of that transaction, SHL became a significant shareholder in FF&P. Wafic Saïd is also a major shareholder and member of the Board of the Banque Libano-Française. A keen supporter of horse racing, Saïd’s horses won several races in the United Kingdom and France in the 1990s. Those who might be planning to follow in Saïd’s footsteps can acquire the skills to do so at the Said Business School at Oxford University, with a top ranked MBA programme and a strong reputation for undergraduate study. Sources: www.waficsaid.com NAME:   Wafic Saïd COUNTRY:   United Kingdom NATIONALITY:    Syrian WEALTH:    1-1.5 billion euros    (Ave 1.25 billion euros) RANKING:    =354th STATUS:    Self-made INDUSTRY:    Financial Services, Legal Services AGE:    69 GROWING FOOTPRINT Sometimes the simple ideas are the most successful: in the case of Mario Moretti Polegato a simple idea was the basis of a global business success story. A qualified oenologist, Polegato took a walk during particularly warm and sweaty visit to a trade fair in Reno, Nevada. Realising that his feet were overheating, he puncturing holes in the rubber soles of his shoes to let his feet breathe. The result of this revelation was the “breathable shoe”, the basis for the success of Geox S.p.A. where he is now chairman and leading shareholder. Originally from Treviso, an area in northern Italy known for its entrepreneurial spirit and the preponderance of small and medium-sized businesses, Polegato pitched his patented idea to various companies before deciding to start production alone. An entirely “breathable” line of clothing followed, helping to propel the company’s expansion into new markets and fuel sales growth ahead of a stock market flotation in 2004. For 2008, a range of breathable sportswear is on the cards: 15 years after the company was founded, the spirit of invention has yet to subside. Sources: www.geox.biz NAME:   Mario Moretti Polegato COUNTRY:   Italy NATIONALITY:    Italian WEALTH:    1.5-2 billion euros    (Ave 1.75 billion euros) RANKING:    =257th STATUS:    Self-made INDUSTRY:    Manufacturing –    Clothing, Textiles, Footwear AGE:    56 KING OF BLING In times of stock market uncertainty, a hard asset is sometimes the safest thing to hold. The self-styled ‘King of Diamonds’, Laurence Graff, believes that a diamond is the safest of all. “Diamonds excite me; diamonds are my life,” says the publicity shy Londoner on the Website of his company. “I see inside the stone, look at the colour and cut and assess its natural beauty and value. I was born to be amongst diamonds.” Starting out with a jewellers store in London in the 1960s, Graff later moved out to the Far East where he was able to secure serious custom from Asia and Middle Eastern buyers. As a result, he has built a vertically integrated company, involved in mining, cutting and polishing diamonds. The Graff company operates a diamond cutting facility in South Africa, which it says cuts and polishes tens of thousands of carats of rough diamonds and employs a team of over 300 people. But Laurence Graff himself is reportedly still close to the daily operations, flying around the world to personally sell stones to heads of state and rich businessmen.    Graff’s website shows Oprah Winfrey, Victoria Beckham, Kylie Minogue and Jane Seymour modelling Graff jewels. Stores are planned to be opened in Geneva, New York and Moscow in the course of 2008 and in St. Petersburg and Shanghai in 2009 – reflecting the increasingly exclusive tastes of Chinese and Russian entrepreneurs. Source: www.graffdiamonds.com NAME:   Laurence Graff COUNTRY:   United Kingdom NATIONALITY:    British WEALTH:    2.5-3 billion euros (Ave 2.75 billion) RANKING:    =154th STATUS:    Self-made INDUSTRY:    Energy, Mining, Utilities; Diamonds AGE:    69 Sources:    www.cersanitrally.pl / www.echo.com.pl NAME:   Michal Solowow COUNTRY:   Poland NATIONALITY:    Polish WEALTH:    1.5-2 billion euros    (Ave 1.75 billion euros) RANKING:    =257th STATUS:    Self-made INDUSTRY:    Media; Investments AGE:    45 MAGNA-FYING GROWTH Born in Austria, Stronach emigrated to Canada and founded the tool and die company Multimatic Investments Limited. The firm later expanded into the production of automotive components. In 1969, Multimatic Investments Limited merged with Magna Electronics Corporation Limited, and subsequently became Magna International Inc. Magna diversified throughout the 1970s and grew strongly in the 1980s. The company now makes auto parts for manufacturers like General Motors, Ford and Chrysler and also owns Magna Steyr, the world’s biggest non-brand car manufacturing company. Based in Austria, Magna Steyr builds cars such as the BMW X3 and the Chrysler Voyager under license. The group generated sales of over $26 billion in 2007 having grown by an average of 17 percent a year over the previous 20 years. Part of the firm’s success is attributed to a novel structure under which each employee owns part of the company. Sources: www.magna.com NAME:   Frank Stronach COUNTRY:   Switzerland NATIONALITY:    Austrian WEALTH:    900 mln-1.5 bln euros    (Ave 1.2 billion euros) RANKING:    =457th STATUS:    Self-made INDUSTRY:    Manufacturing - Automotive AGE:    75 BANKING ON SUCCESS Leszek Czarnecki represents the recent boom in Eastern European markets and is one of the leading entrepreneurs in Europe: a pioneer in the Polish finance and leasing business, Czarnecki has also benefited from the country’s real-estate boom. As well as a majority stake in banking, insurance and leasing group Getin Holding S.A., Czarnecki is also the main shareholder in development company LC Corp S.A. Construction projects have included a shopping and office centre in Wroclaw and the Sky Tower, Poland’s highest residential building. After graduating from the Wroclaw University of Technology, Czarnecki received a PhD in economic science from the city’s University of Economics. In 1986, he started his first business venture, Przedsiebiorstwo Hydrotechniki i Inzynierii TAN S.A., a company that specialised in underwater works and which reflected his interest in diving. Later, after investigating the unattractive options for leasing a car, he founded his own leasing company, Europejski Fundusz Leasingowy S.A. Established in 1991, the company was the first and largest leasing company in Poland. Czarnecki sold shares in the firm to France’s Credit Agricole for 263 million euros and then bought a 25 percent stake in the newly created Polish Credit Agricole subsidiary. He later sold this stake back to the French. Czarnecki is no stranger to business awards: in 1998, ‘The Wall Street Journal’ named him the best chief executive in Central Europe and, in the same year, he won the finals of the global ‘Young Business Achiever’ competition in Beijing. Other media outlets have noticed the Pole’s remarkable ascent to the top of his country’s Rich List: in April 2004, ‘The Financial Times’ recognised him as one of 25 emerging stars of European business, a man who would in the near future be shaping the direction of financial markets. INSEAD in France has named him ‘Businessman of the Year from Eastern Europe’ while the Polish edition of Forbes magazine named him ‘Player of the Year’ in 2006 and 2007. Sources:    www.getin.pl / www.skytower.pl NAME:   Leszek Czarnecki COUNTRY:   Poland NATIONALITY:    Polish WEALTH:    1-1.5 billion euros    (Ave 1.25 billion euros) RANKING:    =354th STATUS:    Self-made INDUSTRY:    Financial services, legal services AGE:    46