According to the American Massage Therapy and y Association (AMTA), 21% of adults have received at least one massage between July 2018 and 2019. It is no longer a luxury to visit a spa or a wellness centre.
In fact, kids would gift their parents spa sessions, or parents would bring their children out to a spa during weekends.
From a business perspective, the prolonged lockdown due to the pandemic slowed down the industry’s trajectory. All businesses face their unique challenges and running a spa business in Singapore is no different.
As the world leans back into reopening the economy and geographical borders, it’s time to rethink our plans and strategy of marketing and building our spa business.
1 - Products and Services
The spa and wellness industry is all about providing comfortable, personalised experiences for customers. It’s different from region to region, country to country, and even city to city. For instance, consumers in City A may be into long, hot stone massages while the people in City B prefer quick facials.
After the lengthy lockdown, it could be time for you, as a spa business owner, to rethink your product positioning and packaged services.
For example, would your customers prefer manis and pedis on weekends coupled with a neck and shoulder massage? Or would they prefer after-work reflexology treatments instead?
The key focus should maybe be on keeping your customers instead of bringing in new ones.
2 - Manpower and Supplies
Your business may have changed a little during the pandemic, so now that things are picking up again, you may be thinking about adding more massage chairs or hiring new beauticians to your business.
In fact, now could be a good time to give your spa a makeover to attract a new crowd or bring back your loyal customers. This can be done by simply upgrading your booking system, making payments more seamless, or including new packages into the menu.
3 - Maintaining Positive Cash Flow
After taking a hit during the pandemic, we’re sure beauty and spa businesses are now looking for ingenious ways to market themselves. This may involve some form of new funding and analysis of your business’ breakeven report.
It pays to take into consideration key performance indicators that will help your beauty and wellness business grow bigger in the long-term. A certain level of preparedness for the future would also work in your favour.
4 - Marketing and Advertising
With online avenues to consider as your marketing strategies, you may need to take a quick look at the way you used to market and advertise your business in the past. For instance, if in the past you’re focused on building a loyal customer base, you may consider attracting new customers through social media now.
Many businesses will agree that if there’s one thing the pandemic has shone a light on, it’s on the fact that businesses, regardless of industry and location, need to evolve and remain agile.
So in your marketing game plan, not only must you present your beauty and wellness business as having the right price point, but also the ability to change according to where your customers are hanging out. Albeit, your customers are likely now more used to hanging out online with their family and friends.
If you’ve never considered offering eWallet payments or connecting with your customers on social media, it’s time to invest money into these avenues.
5 - Growth and Injection of Funds
While starting and running a beauty and spa business is not hard or expensive, it does require a physical presence, manpower, equipment, supplies, and other money-related resources.
You may consider a fresh round of investments into equipment, new treatments, a more engaging online advertising effort, or bringing in more spa supplies. On top of that, consider ways to cut costs or improve the efficiency of your staff to make the running of your spa more cost-effective.
When you make booking simple for your customers, not only will your customers find it more convenient and efficient, you will save time and money too. These are, at the end of the day, related to the growth and profitability of your spa.
Running and Managing a Successful Spa and Beauty Business
There are many things behind running and managing a successful spa and beauty business and it goes beyond having a gorgeous facility. What brings the customers back are stuff like well-trained staff, effective treatments, engagement with your customers, and your ability to cater to the changing needs of your customers.
You may have a nice ambiance at your spa but if your customers are not enjoying their overall experience at your outlet, or if your competitor is viewed as more attentive and engaging, the trickle out of your business will start.
That’s why most spas and beauty salons are now focusing on earning their customers’ long-term loyalty.
An All-in-One Platform to Run Your Spa Business
INFT offers up to $150,000 cash line and a suite of financial services that will power up your business and help it grow. In the same vein, Refine Solutions offers you WESS, a platform that makes running and managing your spa business in Singapore easier and more cost-effective. It offers everything from a point of sale system, appointment scheduling tools, customer engagement, employee performance tracking, and many more!
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