BUSINESS DEVELOPMENT: Build Your Spa Business for Success
Vision, Mission & Concept Envisioning
A Concept Envisioning begins with a brainstorming session involving all of the stakeholders. This meeting utilizes a guided approach to discover the potential for your business’ vision and mission.
The Envisioning Session's discussion points include: vision, mission, branding, culture, differentiation, color & texture and measurements of success.
The Envisioning process is summarized within a document that states the business’ Vision, Mission, Concept and Program Components. This initial Concept Summary also includes a list of the Primary Services that are contained within each Program Component selected along with their descriptions.
Acara's feasibility study is an all encompassing document that begins with a market assessment which reviews the target markets, analyzes the demographics, competition, audience proximity and accessibility and concludes with a sales forecast.
The final component is a complete financial 5 year pro forma which includes profit/loss statement, balance sheet and cash flow in order to conduct a complete analysis of the projects Return on Investment (ROI). This is a dynamic document that allows us to run various scenarios to determine the feasibility of your project.
Financial Pro forma
Acara develops a financial proforma for the first five years of operations using information from the Envisioning Session and Market Analysis. The financial proforma includes capital investment, cost structure, revenues, operating expenses, staffing requirements, operating statements, cash flow and balance sheets and a return on investment analysis.
Business Plan Development
Acara develops a business plan that outlines the vision, mission and concept of the project as well as describes the marketplace, market strategy, organizational structure, required investment and illustrates the financial position of the business when the plan is implemented. The business plan is typically required to secure most financing.
Acara provides site selection criteria for you and your commercial real estate broker and reviews all available listings. After the top sites have been identified, Acara visits each site with the broker, conducts a site analysis using the site selection criteria and provides a final recommendation.
Market & Competitive Studies
Acara researches the demographics, competition and growth trends in your market and conducts site visits to select competitors. Acara identifies your businesses’ target market and outlines competitive strengths and weaknesses.
The Acara team reviews the architectural drawings and makes recommendations for improvements in the following areas: flow, adjacencies, lighting, finishes, electric and plumbing placement, retail, and other specifications required in a medical spa. In addition, we provide room specifications sheets to support the architects design process.