Maybe you’ve been thinking about starting a medical spa or you’re already excited about a new idea for how you’d do it. Either way, it’s worth learning more about what it would really take before you venture out on your own. Let’s start from the very beginning.
Do you really want to be the boss?
Honestly, it isn’t for everyone. Being the boss means hiring, training, and maybe firing team members. It means spending time thinking about morale, your payroll processor, the IT solutions your business has and/or needs, and many more things most employees rarely have to think about. On top of that, a medical spa has many regulations to follow and you’ll be responsible for managing them.
Develop your idea
What are you already good at? That’s an easy place to start, because it would require the least amount of training for you. Really dig into what you would like to do, what is most realistic, and what it would be like to own this business. You can always add new services later, so start simple.
Check out the competition
Look at what is already being done in your market and who’s buying it. If there’s already a similar business in your town, there may be part of the market who aren’t buying it for one reason or another. Is that part of the market filling the need another way or are they going without? How would your business fill that need? What other needs aren’t being met?
Talk with people, get statistics from your local librarian, and educate yourself on everything there is to know about your market before you try to compete in it.
Then refine your idea.
Don’t go it alone
It may be tempting to try to do everything yourself, but don’t. It’s not necessary or realistic. Your business will be much more likely to succeed if you seek input from others and accept help from trust-worthy sources. Try these:
- Complementary businesses and other business owners you know
- Your local Small Business Development Center (SBDC)
- The Small Business Administration (SBA)
- Local chamber of commerce
- SCORE, an organization of retired businesspeople who volunteer their time to help entrepreneurs
Do your homework. Go into this with your eyes wide open and absolutely let yourself get excited about your idea. This could be the beginning of the best choice you’ve ever made.