Interested in opening a spa? Learn the advantages and disadvantages, so you can decide if it’s the best business option for you.
Spas Span The Spectrum
First of all, what kind of spa are you thinking of opening? If you want to open a spa, consider all the options. There are day spas, med spas, and everything in between.
When you think of a day spa, the term “full-service” will include various customer options based on several variables, including location, season, size, employee capabilities, and more. Opening a day spa franchise typically requires $120,000 to $800,000. Larger day spa franchises typically cost more, while more niche favorites often have lower startup costs.
A full-service day spa may include everything from waxing to massages, haircuts and color, facials, cosmetic application, manicure/pedicures, and more. By offering a wider variety of services, you may stand to pull in more customers seeking different experiences. However, customer retention and frequency of visits might be lower because “luxury services” like massages and facials are commonly viewed as occasional indulgences instead of habitual practices.
The main difference between a med spa and a day spa is the presence of a physician. This requirement determines the type of treatments that can be offered. The most intensely therapeutic treatments in a day spa may include microdermabrasion and light chemical peel facials. Med spas can offer deeper chemical peels, injections (such as Botox), and laser treatments.
Day spa treatments are performed by aestheticians, while med spa services must be performed by licensed healthcare providers, such as physicians and RNs. All require specialized training, but the licensure required of med spa professionals is far more elaborate, time-consuming, and costly.
Med spas are essentially medical practices, but they must also be structured and run like businesses to attract clients and remain profitable. The startup costs for a med spa franchise can range between $700,000 to $1,000,000, with proprietors committed to building their practice for at least a couple of years before they may see a return on their investment.
In terms of ongoing expenses, remember that medical aesthetic procedures require high-tech, high-cost equipment that needs to be serviced and replaced to both uphold the law and follow the latest consumer trends. Not to mention the necessity of employing on-site medical professionals, whose salaries can exceed that of a trained aesthetician at a more traditional day spa or salon.
The Better Option: Scissors & Scotch
You think you want to open a spa. You’re interested in getting into the business of making people feel and look their best. Maybe, instead of a spa, you should consider opening a franchise barbershop. Yes, that seems like a sharp turn from the cucumber-infused water and soothing sounds of an Enya soundtrack, but not necessarily.
Scissors & Scotch has positioned itself as an industry upstart that offers the kind of grooming experience every man deserves, where traditional barbering and modern spa services convene with your favorite watering hole.
By 2024, the global male grooming market is projected to reach about $81.2 billion. In light of that information, it’s important to remember that, especially after a challenging year, men appreciate the opportunity to feel pampered and cared for in an environment that suits them.
Scissors & Scotch is a killer franchise concept for investors looking to tap into an industry ripe for disruption and innovation. Whether or not you have any previous experience in the spa or barbershop sectors, S&S is fully locked and loaded to give you the best training, marketing program, and ongoing support as our franchise network expands throughout North America.
If you would like to learn more about franchising opportunities with Scissors & Scotch, please visit us.