If you’re a savvy entrepreneur or business owner, the wellness industry is a ballooning opportunity. To make yourself as successful as possible, you’ll need to map your trajectory with a professional wellness centre business plan template.
If your competencies and business interests lie in the wellness space, we recommend reading through this introductory guide to wellness centre business plans. It includes marketing strategies, competitive analysis and profit margins tips, financial statements information, and of course how to utilise practice management software.
Once you’re familiar with all of that, download our free wellness centre business plan template to help you plot your way to success.
Opening a wellness centre
Opening a wellness centre is not a trivial undertaking. But with the right wellness centre business plan, combined with some moxie and determination, anyone with the requisite skills and passion wishing to break into this field can have every chance of success.
Let’s lay down the business map to lead you to success in this industry.
Wellness centre business models
One of the first steps you’ll need to take is to outline and cement the intended business model of your wellness centre.
This chosen business model will determine the specifics, goals, and structure of the business plan you’re about to create. Think about how you envision providing your products and services and through what location or medium.
Outline and query the following:
- Do you intend to be operating in a specific location? If so, will you lease or buy and exactly where will this be?
- Will you be offering longer retreats or short sessions?
- Do you intend to be location independent as opposed to a fixed location? If this is the case, you need to understand how you’ll provide remote wellness services.
- What kind of capacity and client group size are you considering? Will you be working with individual clients, in groups, or both?
- Will you be teaching classes or offering direct wellness services?
- Will you be selling products or perhaps books and podcasts?
Whatever the case, be sure you have a solid understanding of your wellness centre business model before moving on to your wellness centre business plan.
Think about your company values
Company values may seem ancillary to your business model, but coming to terms with who you are and what you believe in actually informs a fair amount of your wellness centre business plan.
Note down some dot points relating to your values and keep this as a reference when deciding factors such as marketing, pricing, services, and structure.
Creating a wellness centre business plan
Ok great, we now have a good idea of who you are, what you’ll be offering, and how you’ll deliver your products and services. It’s time to populate the core segments of a wellness centre business plan to get this show on the road.
Products and services
Your chosen products and services will underpin your entire business model and plan. These will evolve over time as you understand what’s working and what’s not. It will also be subject to market whims, evolving trends, and emerging interests.
But don’t worry too much about that to begin with. Simply outline your primary cash flow vehicles in terms of your focused product and service offerings.
For example:
- wellness product range
- one-on-one sessions
- group retreats
- podcast subscriptions
You’ll also need to document:
- how your products will differ from the market
- why your product or service is needed
- pricing strategy
- distribution
Marketing strategy
Another key aspect of your wellness centre business plan is your intended marketing strategy. How will clients discover your services and what is the key message you’ll be delivering?
For this section you’ll need to map out your intentions as to:
- website and domains
- social media
- email marketing
- advertising
- branding and messaging
- lead generation and conversion
- marketing mix and calendar
- how much you’ll be spending
Competitive analysis
Undertaking a competitive analysis will be a decisive factor in your ability to carve out your own market share to generate cash flow and profit margins.
For this section, you’ll need to research and assess aspects such as:
- who you’re competing with
- what your demographic looks like
- size of the market
- potential for growth
- any barriers to entry
Business finances
Determining how you’ll fund your venture with business finances is an important factor in your ability to get a wellness centre off the ground.
You’ll also need to understand the types of financial reports and calculations you’ll need to undertake.
You may wish to court professional advice in this area. In fact, this entire process should ideally be reviewed by an accountant or business advisor once complete.
- Calculate the amount of money it will require to get your operations started.
Assess whether you’ll seek external investment, financing through banks or use your own personal funds.
- Understand ongoing costs and your ability to service any loans required.
- How to create financial statements.
- Profit and loss calculation.
- What software you’ll use to assess cash flow, profit margins, and debts.
- What your budget, cash flow statements, and income statements will look like.
Use practice management software
No matter which way your wellness business plan goes, you’ll certainly need to be managing your business with competent and fully featured practice management software.
Your practice management software will provide you with:
- the ability to take and manage bookings
- a CRM for client details
- marketing avenues
- payment options
Wellness centre business plan template
Now that we’re starting to form a fuller picture of what’s required when creating a plan for your business, here’s a free, downloadable, and fully detailed template you can use to fill out your specific plan.
By using our wellness centre business plan template, you won’t miss any important steps in setting up your business. You can then confidently approach a business advisor to assess your plan and advise on any alterations and next steps.