If you have decided to open a beauty spa, writing a business plan will be your primary step.
Not all businesses share the same business plan. The one size fits all approach does not work because every business focuses on different considerations.
A spa in particular will definitely have a different set of challenges from a F&B business. This is why a business plan is not just about outlining goals and methods of achieving them but is also about understanding your niche market.
Now, how do you come up with a good business plan?
Beauty spa business owners, here’s exactly what you need to include in your business plan to run a successful beauty spa in Malaysia!
1. Create a Summary of Your Business Plan
In the first section of your business plan, you will need to provide a summary of your company profile and entire business plan. Where do you see your business in the next five years?
Your abbreviated five-year plan should not only consist of your long-term goals, but also the location of your business, your required and anticipated costs, estimate of your liabilities and revenue for the five years.
In Malaysia, running a spa for five long years means having to carefully choose between typical locations such as in a neighbourhood shop lot or in a shopping mall, etc.
It is best to list out 5 to 7 attainable goals along with their respective milestones. When doing this, consider the trends, pattern, and future of the local beauty industry.
2. Give a Concise Description of Your Business
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