Starting your own body sculpting company is an exciting and challenging endeavor. Current statistics suggest the dollar value of body sculpting businesses in the U.S. is 7.8B, which indicates the body sculpting businesses and the industry overall are thriving and growing. Let’s examine the steps to take in establishing a body sculpting company:
Step 1:Â Examine Your Business Concept and Goals
Starting a body sculpting business is often an outgrowth of personal recognition that the need exists and there is a large segment of society to serve in this industry.
A body sculpting company is a personal service for those who are unhappy with or unable to adjust body measurements or areas that need attention. Examine the reasons behind your business concept and consider the goals you may have for the business overall.
Step 2:Â Ask Questions and Assess the Market for Your Company
Asking questions and making assessments based on the answers is a great start to your body sculpting company. Consider the following:
- How many potential customers are in your area?
- Will potential customers look for customized body sculpting services?
- What are the demographics of your customers? Are they in a particular age group?
- Do your customers have common areas of need, such as the core or hips?
- What will the average charge be for treatments?
- Will you offer products with treatments or treatments only?
These questions will assist in informing your plans as they are placed into reality and your company is launched.
Step 3:Â Research Competitors
Perform research by analyzing subreddits within the regional area where your planned location will be to determine how many competitors are present. What services and treatments are offered and what are the pricing models? Are locations near yours?
Look for any attractive offers from competitors that could derail yours. Compile your findings to further consolidate the viability of your business.
Step 4:Â Develop a Business Plan
Developing a business plan may take some time; however, the plan is probably the most essential tool of your company. You will place within it the mission statement and objectives of your business, add the research you’ve compiled, offer a financial forecast, and create marketing strategies. You’ll add an operational outline and supporting material. For a functional template, use this body sculpting business plan as a comprehensive guide. Refer to the business plan upon launch and repeatedly in the first years of business.
Step 5:Â Calculate Startup Costs and Secure Funding
Although there are risks involved, careful planning and authentic financial forecasts can pave the way to a successful start of business. After calculating the needs, you’ll want to approach investors or lenders, as well as banks or other financial institutions, for funding. Investors will choose an equity position, which will require offering a percentage of your company in exchange for funding. Lenders will fund, but require repayment with interest. Consider which method is most advantageous for your business before making a commitment.
Step 6:Â Develop the Operations and Staff of Your Company
Before launching your body sculpting company, determine which services or treatments your company staff will provide. Body contouring or sculpting methods are used to reshape or improve the appearance of one’s body, so treatments or services may be invasive, as a result.
Some treatments, such as liposuction and body lifts, are invasive and dramatic; however, there are also non-invasive options for cool sculpting using energy-based devices. Licensed personnel will be needed to oversee many of the treatments.
When ready to start your company, you’ll want to hire and train employees in delivering appropriate treatments, delivering supplies or fulfilling orders, as needed. Offer training under the care of a licensed or certified professional, and include customer service training and etiquette training in order to be sensitive to the personal needs of clients.
Sensitivity and diplomacy will be important in this company. After ensuring all staff members are properly training, use team-building activities to create camaraderie.
Step 7:Â Start Marketing Campaigns
Your last step prior to startup is to align your company with several outlets for marketing:
- First, engage a developer to produce the website and a designer to make it exceptionally
- Second, offer a wealth of information online. The first place potential customers will search will be the website, as a personal appointment may be uncomfortable for some.
- Use the website to offer online appointments and book other sessions to follow-up or additional services.
- Include phone appointment service for those who do not want to book online.
- Allow adequate website space for a blog to answer concerns, questions and answers. Use the blog to indicate your personal style and the serene environment offered by your company.
Step 8:Â Use Metrics to Gauge the Growth of the Company
After six months of active business, confirm the status of your company by measuring key performance indicators, or metrics, to determine areas that may need improvement or those that are hitting targeted growth indicators. Measure the following metrics for optimal results:
- Sales Revenue
- Net Profit Margin
- Cost of Customer Acquisition
- Customer Retention
- Website Traffic
- Employee Satisfaction
Each metric will inform your next steps in marketing, employee training, website strategies, and more. Conduct a metric measurement in each area every six months for the first 5 years of your company.
Following these steps will provide the building blocks for your new body sculpting company; however, the business plan you’ve created as a result will ensure its long-term growth and success. Wishing you the best!