The right location is one of the foundational elements of spa business plan is finding the right location. Finding real estate that drives profitability is the first big decision you will make as a spa franchise owner. The right location can drive traffic, increase business, and minimize marketing costs.
This is especially true for owners of multiple spa franchise units. Opening a salon requires choosing a location that meets your needs; opening more than one salon requires strategic location selection.
Compare Location Types and Qualities
First, consider the type of buildings that you want. There are distinct advantages and drawbacks to each, and the availability in your city will certainly be a factor in your decision. Next, look at the qualities of a choice location, including the other businesses in the area, traffic, parking, and visibility. Don’t forget to keep an eye on how close your competitors—other spa franchises—might be to a prospective location.
Types of Locations
When it comes to location, spas generally fit into three categories: free-standing buildings, shopping centers, and storefronts. Square footage and availability will both factor into your location decisions, but narrowing down by location type is an easy way to get started.
Many salon and spa owners choose to locate in free standing buildings because of the freedom such a location can offer. There are typically more leasing or ownership options available with a free-standing building, which gives the owner the freedom to have some control over costs like utilities and overhead.
A building that stands alone is not bound by common area fees for things such as snow plowing, signs, and security, which can be a bonus. Saving on those fees means that the owner is responsible for the things that common area fees would normally cover, which can cost time or money.
A shopping center or strip mall can be a great location for a salon and spa. Leasing agreements in shopping centers often limit the number of like businesses in the same area, which can be great for minimizing competition. Additionally, shopping centers cover all the necessary building maintenance that we mentioned earlier: snow plowing, signage, security, and other services.
In communities that have historical or renovated downtown areas, storefront properties can be incredibly popular. Storefront real estate is similar to shopping center real estate; each features a grouping of stores with common walls. The main difference is that storefronts exist in business districts, where strip malls can pop up anywhere.
Storefront real estate is usually scarcely available because such properties are incredibly popular.
Qualities of a Choice Location
After determining the types of properties that are available, look at the qualities of the locations. Ensure that each potential location meets each of these criteria to some degree in order to drive the spa franchise's profitability.
Whether frequented by foot traffic or car traffic, the ideal spa location will be easily accessible. Basing your spa in a high traffic area can minimize marketing costs because people will see the salon's signs as they walk or drive by.
A location with insufficient parking can drive business away. Parking is the first step in entering the relaxing environment of a spa, and customers do not want to have to struggle to park their cars. The Marilyn Monroe Spas excellent products and services mean nothing if customers can't get to them, so ensure that all spa locations have enough parking for clients.
Visibility from the Road
Locating a spa in a building that is visible from the road drives business by exposing passersby to the idea of your brand. As people go by, they get impressions of the Marilyn Monroe Spa, growing recognition, and encouraging them to visit when they have beauty or wellness needs.
The other businesses in the vicinity of your spa franchises can directly impact your revenue. Accepting walk-ins is a time honored tradition, as walk-in business can become regular business.
Placing a Marilyn Monroe Spa near complementary retailers is a great way to drive traffic. Retailers that compliment a spa and salon include fitness locations, high-end grocers, and dry cleaners. In short, attract busy women who are out running errands and want to fit in their beauty routines.
Absence of Competitive Retailers
Not only is the optimal spa real estate near complementary businesses, it is also in an area without competitive businesses. This balance is crucial. Building a business in the spa industry is competitive; placing a Marilyn Monroe Spa in the same complex as a competing nail salon or massage provider is counter-productive.
It is important not to become overwhelmed with deciding where to place spa franchises. There is no shortage of real estate and each specific area has something to offer. Finding the right locations for a multi-unit franchise owner is the first step in an exciting spa business plan.
Learn about the franchise support that you can receive from opening a Marilyn Monroe Spas by contacting us today!