It was just a couple of years ago that a report came out saying the spa industry would suffer in the coming years, with up to 7% shuttering their doors. While the number of locations did, indeed, decrease, revenues and spa visits were up.
According to a study released by the International SPA Association, the number of spa locations nationwide went from 20,600 in 2009 to 19,900 in 2010, a 3.3% decrease. But revenue went up from $12.3 billion to $12.8 billion, or a 4.3% increase, and spa visits went from 143 million in 2009 to 150 million the following year, or a 4.7% increase, according to the study.
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The following suggestions are ways that your spa business can survive – and thrive:
* Focus On What Sells Well: It’s been said that 20% of a businesses’ products or services makes up 80% of its revenue. Focus on your top-selling products and services and consider cutting loose the products or services that aren’t. If you’re looking to add more spa equipment, whether it’s another facial bed or a pedicure center, A.M. Salon Equipment has you covered. We offer packaged deals and are never undersold!
* Use Social Media To Your Advantage: Consider supplementing your store’s Web site with a social media platform like a Facebook Fan Page or the content-sharing site Pinterest. With Facebook, for example, every time someone “likes” your page or post, that activity is recorded on the person’s personal Facebook page – and all of his or her friends can see it. Facebook currently has approximately 845 million users – and that number may climb to 1 billion before the end of the year.
* Give Your Customers Something Extra: What kind of personalized touch can you add to your current services – without impacting your profits? One spa business, for example, offers free LED hand treatments during customers’ facials. It doesn’t cost them anything extra, because they already own the equipment. This type of added value will keep customers coming back for more because they’re getting something from your shop that they wouldn’t get at your competitor’s store.
* How Long Are You Open? There’s probably at least one day each week when sales are slow. Once you’ve paid all your operating costs, are you actually losing money those days? Several spa businesses have trimmed their operating hours, some even cutting out entire days.
Thriving In This Economy? It’s Possible
The spa industry in general is recovering – and even showing signs of growth. To catch onto this trend, remember to focus on your most popular services, take advantage of social media platforms and give your customers an experience they’ll never forget!
For your Success,