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    12 Replies Latest reply on Feb 25, 2009 12:10 AM by massagefever

    Husband and I disagree, what would you do?

    massagefever Adventurer
      I am a Licensed Massage Therapist in the State of South Carolina. I
      graduated from my program, became Nationally Certified, and State
      Licensed in the year 2003. Since February 2008, I have been running my
      own practice in a labor center located in a residential area in the
      middle of nowhere. I believe despite my extensive marketing efforts, my
      practice has grown all that it can grow there. I have my very loyal
      clients who schedule on a weekly or monthly basis, yet get few new
      clients.

      I did however come across a commercial building in a
      location that would produce a lot of traffic. My husband says we will
      eventually find another property with the same value. This is a 1200 sq
      ft commercial building, not office. The owner is willing to lease it to
      me for $1,ooo a mo for the first 6 months and then increase it to the
      full amount, $1,300. I has large rooms for massage therapist to work in
      and I already have one interested for $400 a month.

      Now it will
      be hard in the beginning, I understand that. I have almost $2000 cash
      in my business and a $6000 credit line on my business credit card that
      has always been up to date.

      I say this is going to going to be my career and I should go for the chance to make it profitable in the long run.

      Husband is not a risk taker to begin with, but he says this is too much of a risk and I should wait.

      Opinions?
        • Re: Husband and I disagree, what would you do?
          LUCKIEST Guide
          Husband and I disagree, Welcome

          You want opinions, I am not getting involved between you and husband, HOWEVER

          I do have TWO suggestions. One. Develop both a Business and Marketing Plan
          Two, Contact SCORE. SCORE is FREE and can help you

          Good luck, LUCKIEST
          • Re: Husband and I disagree, what would you do?
            DomainDiva Ranger
            Luckiest is right...develop the business plan and get it down on paper so you can see it.

            You may want to think about having a small wellness center with yoga, pilates and tai-chi as well. If you want to grow the business in these times you must get creative. Get a group of like minded professionals together and start making a plan. You could sell skin care and other nutritionals as well. Trilogy would be a good source for that.

            As far as taking 6 grand out on a credit card? DO NOT DO THAT. The interest rate will kill you. If a card has a 12% rate for carried forward balances, the rate for cash advances doubles.

            Good Luck, DD
              • Re: Husband and I disagree, what would you do?
                massagefever Adventurer
                I do plan to have an estetetian there and perhaps a nail tech, but small town so the other may be hard to come by and there is not really a market for it.. There are a couple of yoga and pilates classes already and I don't think I could drawn the crowd I could from massage and maybe a chiro.

                And my plan was not to take the complete $6000 out on my credit card. I have a lot of the money needed to start up and go with cash flow from an interested therapist wanted to rent and my clientele that schedle no matter what and have told me they will follow me anywhere, but as a back up, my credit card is there.

                As for a business plan, I have started many, gotten different places and then gotten stuck.
                  • Re: Husband and I disagree, what would you do?
                    Iwrite Pioneer
                    Where are you located? I'm grew up in Columbia. The reason I ask is most of the advice has been dead on, but you do need a marketing plan to support any move to a new location, and driving in SC is different from other, more densely populated places. It is nothing for my sister to zip down to Charleston for a sale or an event. I think you may be underestimating how far people will drive for quality service.

                    Make yourself complete your business plan, it will address a lot of areas and reduce the stress your husband may be feeling.
                    • Re: Husband and I disagree, what would you do?
                      LUCKIEST Guide
                      Husband and I disagree

                      As I said before SCORE can help you with your Business Plan and you can get help online

                      Again LUCKIEST
                      • Re: Husband and I disagree, what would you do?
                        DomainDiva Ranger
                        Don't take any money on a cash advance on your credit card. You will regret it. I promise.
                          • Re: Husband and I disagree, what would you do?
                            massagefever Adventurer
                            Yes I will be able to take all my loyal clients with me when I go. And I can't remember who said it, but here, people will travel for good service. Not having a swollen head, but I do provide a very good massage. To the point that I have had people hunt me down and two of the best therapists in town have referred people to me and exchange session with me. I customize each session to the needs of that client and I give them 110% if not more to improve their quality of life. So even the people who come to see me only when they can afford it, enjoy my sessions and will probably come see me at the new location.

                            As far as advertising the new location. Obviously, I plan to put a sign with the business name and mine out front in a high traffic area. My business name is unique and gets noticed. I plan to get press releases out if I can, even if that takes announcing the couples massage class I plan to offer. My website is my most effective marketing tool so obviously I would list the change on there and go back and find all the free sites I may have listed on before and update my address. For existing customers who haven't been in for awhile, I will send out postcards. I will continue to donate my chair massage services handing out new business cards and donating gift certificates to non-profits with current address. And I will also send out my newsletter and do articles. And continue to offer my clients my refer three get one free promotion. But yeah, counting on location, website, and sign.

                            Oh my income before is extremely hard to estimate. I worked at a birth center and did one prenatal massage for each new client and every quarter, did a spa day, knocking out two days of potential clients. I also had to do a one hour massage on the midwife and her husband each month. So each month is varied drastically and never really came "out of pocket". I was bringing home $1500, which I know will drop for a long time period, making $1000 for the 6 mo hard. But I have the money from my business, a therapist ready for pay $400 a month for a room, and a esetetian working on comision until her clients build up. With my guarenteed clients I will bring in $605 a mo.

                            I will talk to SCORE again. But that is a run down of what I have, I think you guys have heard it all. My husband doesn't want to talk about it so I have to talk somewhere.
                      • Re: Husband and I disagree, what would you do?
                        rolonap Wayfarer
                        Hello Massage fever

                        Some things I would consider before moving:

                        • Can you transfer or take with you the loyal customers you already have at the old location?
                        • Do you have a plan to get new customers?
                        • How much more will $1300 on rent be compared to what you are paying now? it might take a while to build up a new customer base, can you survive at least 6 months with reduced or no income?

                        If you answered NO to 2 of these questions, then I am with your husband. We are in the middle of an economic crisis, this might not be the right time to move.
                        I do not consider myself a risk taker either, but make sure to apply "due diligence" on this one if you decide to go through.

                         

                        Good luck
                        • Re: Husband and I disagree, what would you do?
                          Lighthouse24 Ranger

                          Great suggestions above.

                          If you have been finding the "business planning" aspect difficult, at least try the following:

                          1. Download the Cash Flow Statement (12 Months) template from the SCORE website template gallery.

                          2. Fill it in yourself, using the receipts and expenditures numbers that you would project for the coming year if you made the move and everything went right.

                          3. Ask your husband to fill it in using the more "pessimistic" receipts and expenditures numbers that reflect all the things he thinks or fears might go wrong.

                          4. Compare your versions, and ask two questions: (a) If he is right, can the two of you survive the worst-case setbacks? (b) If you are right, can the two of you afford to pass up the best-case opportunity?

                          If the answer to question (a) is "yes" (you can survive the worst), then you'll know you can probably move ahead and be okay (all business change involves at least some risk). If the answer to question (a) is "no" and the answer to question (b) is "yes," then you'll know you should probably wait (the risks outweigh the potential rewards).

                          If the answer to both questions is "no," then you'll know you need a better business plan before deciding -- keeping in mind that the purpose of the plan is not to fill out a bunch of paper, but rather to ensure that what you expect to happen in the future DOES actually happen, and what your husband fears might happen in the future DOES NOT actually happen.

                          Hope that helps. Good luck!