How to Write a Business Plan for Starting a Medical Spa Practice

by Patrice D. Wimbush, Demand Media

Starting a medical spa can be difficult without proper funding and you need a sound business plan to do that. Writing a business plan creates confusion when you do not know the important elements of a successful business plan. As you develop new ideas for your medical spa, your plan will change over time. Economic and regional factors that affect your business may also lead to changes in your plan.

Step 1

Begin your plan with a summary of your entire business plan. This informs potential investors about the future of your medical spa. The three- to four-page summary should include the date your business started, the number of employees and a brief description of the services your spa will offer.

Step 2

Complete a market analysis. An analysis shows your knowledge of the medical spa industry. In the market analysis, you identify the customers you want to serve. Include information that identifies customer characteristics, the size of your target market and details about your competition. Include your marketing strategies and explain how you gathered your results.

Step 3

Provide a brief description of your medical spa. List the reasons your spa has potential for success. Detail the market needs for a medical spa and explain how your business will fulfill customer needs. Be sure to list the type of customer that can benefit from a medical spa.

Step 4

Detail your organizational structure, such as a sole proprietorship, partnership or limited liability company. List the names of all owners and their roles. Provide resumes of your company managers so the investors know who will run your business.

Step 5

Define your marketing strategies. Include your marketing and development strategies, such as expansion methods for growth. Include your advertising methods. For example, explain whether you will use printed media such as brochures, coupons or flyers. If you plan to sell a product, detail the product and sales strategy and explain why customers will prefer to purchase the product from your spa.

Step 6

List your start-up costs for the medical spa. For example, detail your current funding requirements for the next five years. Show investors how you will use the funds. Clarify whether the requested funds cover start-up costs or working capital. Show the current and future amounts needed and provide financial statements to support your request.

Step 7

Provide prospective data for the next five years. The SBA suggests providing monthly financial data for the first year and yearly forecasts for remaining years. Incorporate a brief breakdown of the fiscal data for your medical spa.

Step 8

Do not include the appendix with your business plan, unless requested. The appendix includes key information for creditors and investors, only. The average reader should not see your appendix as it may contain sensitive information, such as legal documents, reference letters and copies of contracts.

About the Author

Residing in Clarksville, Tenn., Patrice D. Wimbush has been writing since 2002, with her work appearing on various websites. Her areas of writing expertise are contract and criminal law. She holds a Master of Public Administration from Murray State University and a Master of Arts in communication from Austin Peay State University.

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