How To Start A Small Business

2365 words - 9 pages

INTRODUCTION
A few years ago, a friend approached me about partnering with her in the purchase of a day spa. I had always wanted the freedom and satisfaction that comes with being my own boss. After deciding to move forward with my partner and buy a day spa, I learned to put together a business plan, personnel criteria, and marketing plan.
1. CONCRETE EXPERIENCE
Prior to purchasing the day spa, I learned while doing my research that the spa industry is a growing industry and that more than any other time in history; people are leading very stressful lives. Because of that stress, they are becoming more consciences of their health and well-being and are willing to spend their discretionary funds to indulge in pampering themselves with spa services.
After purchasing the day spa, the first order of business was to create a partnership agreement between myself and my partner. After coming to a consensus on the terms, we met with an attorney who formalized our agreement and incorporated our business. We decided to incorporate so we would not be liable to pay the debts of the corporation if were to be involved in any litigation.
The next order of business was to prepare a business plan. There are many aspects of a day spa that can be co-managed but I felt my background as a paralegal and executive in corporate America qualified me to take the lead in writing our business plan. Our business plan would serve as our strategy in moving forward but first I needed to establish our mission statement. Basically, our mission statement was to provide excellent services to our clients while making a profit.
In writing the business plan, I determined our target market and our marketing strategy to gain a share of the market. I also had to decide what services we would offer, the prices we would charge for those services and how to incorporate the current trends as part of our services. I articulated our key competitors in the business plan and what we could do to differentiate us from those competitors. Finally, I had to assess the costs and create a budget plan.
My next undertaking was to begin the search for our staff. Finding new employees can be an intimidating task. One of the most key positions in any organization is the front desk coordinator also called the receptionist. Because the front desk person is usually the first person a client comes in contact with at a business, that person can either build or destroy a business. Not only does that person have the responsibility to greet clients as they arrive, but they are also the first voice clients hear on the phone when they call. Their demeanor is considered the most important impression a client remembers when they arrive and the last impression they remember when they leave. My goal was to have clients leave with a positive lasting impression.
Spas offer a variety of different services and our spa included the services of estheticians and message therapists. In order to locate capable...

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