Any successful spa venture begins with a thorough examination and evaluation, leading to a forecast of its viability and potential in the market:
- Site analysis and assessment
- Market research on consumer profiles, demographics and trends
- Analysis of market competitors
- Determination of highest and best use
- Utilisation and demand forecasts
- Recognition of trends and opportunities
- Space planning
- Budget overview of projected start-up and operational costs
- Identification of revenue sources
- Payroll expenses and staffing forecasts
- Financial projections and budgets