The wellness industry is booming, generating over a trillion dollars a year for businesses offering these services. A wellness business plan is essential to ensure the success of your company and define your niche and target market.
Frequently asked questions of wellness business plan sample
- Whether the business owner will buy an established business, develop a new business, or purchase a franchise, a business plan for a wellness center will be required
- The brand image which guides the interior design of the location space and the marketing, advertising and publicity campaigns, ie yoga and meditation versus group aerobics and martial arts classes
- Description of the ideal location, the type of facilities required to best offer the planned service, whether the space will be leased or purchased, and the capital expenses associated with developing or remodelling the space
- Licensing for operating the business and for the operator, most locations have specific licensing requirements to operate a business in the health and fitness industry and to present staff as certified personal trainers
- Staffing requirements for qualified, certified and licensed personnel, ie. personal trainers, massage therapists, licensed practical nurses, etc.
- Equipment needs ranging from exercise equipment to massage tables to blood pressure readers
- Range of services that will be offered and the pricing for individual services, packages, memberships, etc.
- Website development, web-based services, and web marketing and how the website will support or supplement the physical location services, ie. online meal planning or daily weight loss tips
Your executive summary should briefly describe the aims and goals of the business and outline what types of services you will offer. There should not be too much detail, just enough to get the reader interested in finding out more.
It should also describe your target market, why your products and services will appeal to that market and how you plan to market the business. Finish your summary with a statement that sells your business to the reader.
A wellness center business plan pdf should be produced to present to any potential investors. This should be a professional document, reflecting the values and quality of services offered by the company.
It makes sense to write your executive summary after completing the rest of a wellness business plan sample as you then have the details from which to produce your summary.
Description of the business of the wellness center
You use this section to define the details of your business. What is the name of your business and who does your business appeal to? It is also essential to set out a timeline with defined goals and a description of how you will measure the achievement of those goals.
This section should use the wellness business plan template to describe the products, services and delivery of these items to the target audience.
You should try to show your reason for starting the business and your passion for the industry. This will go a long way towards securing any financial backing you may require.
This section should provide a solid basis for the viability of your wellness business by examining industry data and comparing your potential business to the competitors in the market.
Here, you need to be specific on your niche and produce, for example, a holistic wellness center business plan that shows your direct competitors. Look at your strongest competitors and work out why they are so successful, but also highlight where they have weaknesses.
Identify any potential difficulties that may prevent your business from starting or hinder its growth and specify how they will be overcome.
Marketing Strategies of Wellness Business Plan
This section of our wellness center business plan sample will act as a blueprint for your company marketing plan and future marketing activity.
You should define the marketing your wellness business will use, based on the products and services you will sell.
There are 3 main areas you need to consider;
- Product–what is your brand name, what will you sell and how is it packaged.
- Promotion–what budget is available for marketing. Do you have a marketing team? Where are you going to advertise and promote your products?
- Pricing–individual product pricing needs to be considered, along with any product bundles you could offer. Will you have seasonal pricing and how flexible is your pricing strategy
The overall strategy for business plan should consider your brand image and how each individual area of the business contributes to promoting your brand.
This section of a wellness business plan sample covers the company organisation and structure. What form will your company take? A limited company or maybe a partnership.
Who will run the company and is there a board of directors? Perhaps an organizational chart could be useful here.
You will need to define the management team roles and responsibilities, decide on any other team members required and also consider the personnel growth plan. Another important factor is the salaries of each member of staff since this could be a major outgoing for the business.
Financial Data for Wellness Business Plan
This section is of particular importance if you are trying to attract investors, but is equally relevant as a tool for ensuring your business is viable.
If this is a new wellness business plan, then there won’t be any historical data to use for this section. You will have to make assumptions.
Areas to consider include listing your assets, liabilities and equities. What does the company own and what does it owe to investors? This can include any bank loans to business plan you need to get the business off the ground. Coupled with this is an overview of the projected income from sales, which will offset the liabilities.
Investors will want to see a profit-and-loss analysis, plus a break-even point, showing when you project the company to move into profit.
You cannot know for sure what all these figures will be, but for a new business, it is important to show that you have a growth plan and that you have something to measure your success, or failure, against.
Benefits of ordering a business plan from OGS writers
The wellness business plan must clearly explain the unique selling point. The expanding industry is attracting new businesses at an unprecedented rate as the population ages and people become more aware of the benefits of participating in wellness programs.
Potential investors will need to know what sets this proposed business apart from all the others. For example, the differentiator might be the breadth of services, special techniques, or technologies. Lenders and funders will also look for in-depth market research with a realistic analysis of the industry and the market niche.
People in the health and fitness industry are excited about their profession and ability to help others achieve good health physically and mentally. However, passion for wellness does net necessary equate to good business sense and it’s important to have a robust wellness center business model.
The business plan must be well-written, in-depth, and on target before an angel investor, equity partner, or bank will consider providing capital resources
How to order writing business plan wellness center
OGS Capital helps new wellness businesses get up and running by working with entrepreneurs during the development of quality business plans. Consultants can also help business owners find funding once the health and wellness business plan template is completed. The process starts when you contact us by completing the online contact form.
Download Wellness Business Plan Sample in pdf
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