Issue link: http://cp.revolio.com/i/142672
6 tips to finding the perfect location By Shannon Perez Location, location, location. It's a commonly cited expression when discussing the potential profit of real estate, but have you ever stopped to consider how important location is to the success of your practice? Selecting a location is literally one of the most important decisions you will make when building a successful massage practice: a mediocre or even less than impressive business may thrive due to a great location, whereas many talented practitioners have struggled year after year due to a bad location. Is it any wonder that big business spends tens of thousands—sometimes hundreds of thousands—of dollars annually on site selection. The good news is you can select a great site for your practice if you are willing to do a little research and work. Even if you already have an established practice, you may find a great source of new clients by providing service to an unmet population. 1. Density Massage is a service industry and although it may seem obvious, it's important to keep in mind that like all service industries, a massage practice only thrives when it is able to attract enough clients to sustain the business. This means your practice must be located where there are plenty of people. But, how many people are "plenty"? Common wisdom for most service-related industries says you need approximately 5,000–10,000 households to support a thriving business. That may sound like a lot, but remember, not everyone is interested at the same time or with equal frequency. There are several ways to determine the number of households in your area, but two quick and easy sources are the local and/or state chambers of commerce and US Census Bureau data (www.census.gov). Quick tip: make sure your target area has a minimum of 5,000–10,000 households for each massage practice in the vicinity. 2. Affordability Now that you have established there are enough households in your target area to support a practice, you must determine that they are actually willing and able to utilize your service. If you were to conduct a survey of how many people want a massage, then it would be pretty safe to assume it would be a high percentage … just remember how excited people were when you were practicing your technique during massage school. Even though the majority of your target population may want or desire a massage, not everyone will be able to receive a massage. It may be due to finances, time constraints, or other factors. We will discuss many of these other factors separately, but one of the most important considerations in the success of your practice is the financial ability of those 5,000–10,000 households to afford your service on a regular basis. Although there are exceptions to every rule, those households struggling to pay for basic necessities, such as rent, groceries, and school clothes, may still use the services of a skilled massage therapist, but typically only for very special occasions (Mother's Day, gift, etc.) or via insurance reimbursement. On the other end of the spectrum are those households with substantial excess income that can essentially afford what they want when they want it. These may be superb clients, but may not reflect the typical client depending on your location. The most desirable clients—who will comprise 80 percent of your repeat or regular weekly to monthly business, as well as local word-ofmouth advertising—will be those who live within the area, have some expendable income, and enjoy regular massage therapy as either a part of their relaxation or for the therapeutic benefit. Although highly related to what part of the country you live in (for example, if you are in New York City, DC, or Los Angeles, this will be considerably higher) and how much you intend to charge for your services, the magic range roughly translates to a minimum household income of approximately $75,000– $150,000 annually. Typically these