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With a market size of more than INR 80,000 crores in 2018, the Indian beauty and wellness industry is growing at a fast pace, and a large chunk of the revenue comes from the massage and spa businesses.
Starting a massage business requires exceptional excellence in the skill of massaging. You might find it to be a less-expensive business idea in the first place, but as you start off as an amateur in the highly competitive market you might know how daunting it could be in terms of investment.
Before entering the market, a proper research needs to be conducted and a business plan should be made. A proper business plan would help you to plan the expenses even better.
Here is the list of expenses you could incur while starting your own massage business.
Capital Expenses
This is the one time investment that you need to incur in the initial stage of the business. This category includes expenditure on goods and services that are less likely to be bought again. Here are the goods that fall under capital expenses:
- Lighting and decoration
- Signage
- Massage equipment such as tables, stools, heating pads, table warmers, hot table cabinet
- Music system
- Office furniture including computer, etc.
Operating Expenses
This category includes the operating costs of the business, which could be monthly and annual expenses. These are trivial things but essential in order to operate the business smoothly:
- Monthly rent for the premises
- Basic utilities like gas, water, oil etc.
- Lubricants required for massage
- Laundry services
- Essential oils
Other Expenses
There are other expenses which are also important in order to operate the business, like the marketing and licensing costs. These can also be clubbed into operating expenses’ category, but need to be explained in detail under separate heads and maybe even subheads.
- Marketing Expenses: Marketing of a business is extremely essential in order to reach out to the target audience. Hence, there are different types of marketing tools that are required to carry out the marketing and promotions of the business. Marketing of a massage business requires a decent amount of expenditure. For example:
- Monthly or annual rent of website domain name, bulk email service, hosting, online scheduling
- Printing business cards, brochures
- Social media marketing
- Licenses and Permits: Be it any kind of business, it requires certain licensing and permissions to get started in any area. These licenses and permits are essential in order to keep your franchise safe and in avoiding any kind of sealing. Your salon must be authorized by the government. These are some of the permits you need to acquire while opening a massage business:
- Professional License
- Site License
- Business License permit
- Sales Tax Permit
