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BUSINESS PLANNING WORKSHEET

VIEWS: 3 PAGES: 13

									                                                   BUSINESS PLANNING WORKSHEET
PRACTICE GOALS AND OBJECTIVES
   1. What type of practice do you want to set up?
       __________________________________________________________________
       __________________________________________________________________
   2. What are your desired working hours and number of massages per week?
       Working hours ______________________
       Number of massages per week ___________________
   3. What are your objectives for income?
           a. Weekly ___________
           b. Monthly            ___________
           c. Annually           ___________
   4. In what time frame do you want to achieve these objectives? ______________

LAWS AND REGULATIONS
   1. What state laws and licensing requirements, if any, govern massage therapy and
      bodywork?
      Hours of school required                      ___             ___
      Practicum required                            Yes             No
      State licensing exam required                 Yes             No
      NCTMB certification required         Yes              No
      FSMTB exam (MBLEx) required                   Yes             No
      Hours of continuing education (CE) required ___               ___
      How often CE requirements must be met         Annually ___
                                                    Every 24 months ___
                                                    Other _____________

   2. What is the scope of practice for massage therapy in your state?
      __________________________________________________________________
      __________________________________________________________________
      __________________________________________________________________
      __________________________________________________________________


   3. What restrictions, if any, does your state place on the practice of massage therapy?
      (List. Use an additional sheet if necessary.)
      __________________________________________________________________
      __________________________________________________________________
      __________________________________________________________________
      __________________________________________________________________

   4. What county or municipal laws and licensing requirements are required?
      __________________________________________________________________
      __________________________________________________________________


   5. What fees are required?
      State registration/certification/licensing
              Application fee _________
                Certification fee      _________
                Renewal fee            _________
         County or municipal
                Business license or permit ___________
                Renewal _________

INSURANCE
What insurance will you buy?

Type of Insurance               Provider                       Cost
Professional liability ___________________          ________
General liability      ___________________          ________
Property
Business interruption
Disability
Workers’ Compensation
Health (medical)

MARKET NEED – SUPPLY & DEMAND
  1. How large is the total consumer demand for massage in your market?
      __________________________________________________________________
      __________________________________________________________________

     2. What massage services are being provided already in your area?
        __________________________________________________________________
        __________________________________________________________________

3.       Describe the categories of potential clients you plan to serve.
         __________________________________________________________________
         __________________________________________________________________
         __________________________________________________________________

     4. What experience, skills, and credentials do you have that will enable you to meet the
        needs of this market?
        __________________________________________________________________
        __________________________________________________________________
        __________________________________________________________________
        __________________________________________________________________

     5. How large is the market you plan to serve?
        __________________________________________________________________
        __________________________________________________________________
        __________________________________________________________________
        __________________________________________________________________

     6. Is the total number of clients in these categories large enough to meet your income
        objectives?     Yes ___ No ___

     7. If not, what other client category can you target, or in what other communities or
        settings will you work?
        __________________________________________________________________
        __________________________________________________________________
        __________________________________________________________________
        __________________________________________________________________

    8. Are there other client categories that might also seek your services? If so, who, and
       how many?
       __________________________________________________________________
       __________________________________________________________________
       __________________________________________________________________
       __________________________________________________________________

    9. What other experience, skills, and credentials will you need to meet these needs?
       __________________________________________________________________
       __________________________________________________________________

    10. If you’ll be working with others, how will their experience and skills complement
        yours in meeting the needs you have defined?
        __________________________________________________________________
        __________________________________________________________________
        __________________________________________________________________
        __________________________________________________________________

SERVICES AND PRODUCTS
   1. What massage modalities do you plan to offer?
       __________________________________________________________________
       __________________________________________________________________
       __________________________________________________________________
       __________________________________________________________________

    2. What, if any, other services do you plan to offer (such as aromatherapy, yoga,
       training seminars, specialty retreats, etc.)?
       __________________________________________________________________
       __________________________________________________________________
       __________________________________________________________________
       __________________________________________________________________

    3. What, if any, products do you plan to sell (such as lotions, vitamins, CDs, T-shirts,
       etc.)?
       __________________________________________________________________
       __________________________________________________________________
       __________________________________________________________________
       __________________________________________________________________

    4. How do the additional products and services fit in with your main practice of
       massage therapy?
       __________________________________________________________________
       __________________________________________________________________
       __________________________________________________________________
       __________________________________________________________________
PRICING
   1. What price do you plan to charge for each type of service or product? For each,
       indicate the price charged by other local sources of similar services or products.
                                                       Your Price       Local Price

       ______________________________     _________           _________

       ______________________________     _________           _________

       ______________________________     _________           _________

       ______________________________     _________           _________

   2. If your prices are different from others’, explain how you will justify the difference
      to your clients.
      __________________________________________________________________
      __________________________________________________________________
      __________________________________________________________________

   3. Do you plan to offer discounts? If so, for what reasons and by how much?
      __________________________________________________________________
      __________________________________________________________________

MARKETING PLAN (See Chapter 7, “Spreading the Word”)
1. Marketing Goals, Strategies, Objectives, Tactics
                                   Goals Strategies          Objectives Tactics
New Clients             ______________   _________           _________    _____
Client retention        ______________   _________           _________    _____
Winning back clients ______________      _________           _________    _____


2. Practice Identity
       Practice name: _______________________________
       Description of targeted client type: ________________
       Description of practice décor:
               Exterior (signage, etc.): _____________________
               Interior: _________________________________


3. Advertising – Check the types you will use.
        Billboards
        Brochure that tells about your business
        Bulletin boards at local businesses
        Business cards
        Cable TV
        Direct mail
        Directory listings
        Links to other websites
        Newsletters to clients
        Print ads (newspaper, magazines)
        Radio
        Website
        Other: _______________________
        Other: _______________________
   Provide details of how you will use advertising to market your practice.
   _____________________________________________________________________________________________________
   _____________________________________
4. Promotions – Check the types you will use.
       Cross-promotions with other businesses
        Gift certificates
        Giveaways (branded/unbranded)
        Other: _________________________
        Other: _________________________
        Other: _________________________
   Provide details of how you will use promotions to market your practice.
   _____________________________________________________________________________________________________
   _____________________________________


5. Public Relations – Check the types you will use
        Presentations at local organizations
        Media releases
        Volunteer at community events
        Other: ________________________
        Other: ________________________
   Provide details of how you will use public relations to market your practice.
   _____________________________________________________________________________________________________
   _____________________________________


6. Networking
       List names of organizations with whose members you will network.
       _________________________________________________________________
       List other ways in which you will network.
       _________________________________________________________________


PHYSICAL SPACE (See Chapter 3, “Creating a Sense of Place”)
   1. Where do you plan to practice?
        Home-based practice
        Clients’ homes (outcall)
        Rented or leased office space
        Other business location (hospital, fitness center, etc.)
        Corporate workplace
        Retail setting
        Other ________________________
        Other ________________________


   2. What furnishings will you need to provide in order to create the desired
       environment for your practice? (Enter cost under expense chart in Financial
       section.)
       __________________________________________________________________
       __________________________________________________________________


   3. Will anyone else be working with you? Yes ___ No ___
       If so, where will they work? __________________________________________


BUSINESS POLICIES
Relationship Policies
Client Related
   1. State your customer service philosophy. ________________________________
   2. Specify the code of ethics your business follows. ___________________
   3. Specify the standards of practice your business follows. ______________
   4. What procedures will you follow to protect our clients’ confidentiality? ____
   5. Your cancellation policy: __________________
   6. Your late arrival policy: ___________________
   7. Your no-show policy: _____________________
   8. Your business hours: ______________________
   9. Your rates for services: _____________________
   10. Your fees are: _________________________
   11. In what instances will you offer discounts? ____________________
   12. Under what circumstances will you provide complimentary massage? ______
   13. Your policy for accepting/not accepting credit cards (and which ones):
   14. Your policy regarding requiring payment in advance. ____________________________
       Exceptions: _______________
   15. Your policy regarding tips.
   16. Your policies regarding safety and security: _____________________
   17. Your intake form includes:                      Yes      No
           a. informed consent                         __       __
           b. insurance information               __   __
           c. assignment of benefits                   __       __
           d. release of medical records               __       __
           e. contract for care                        __       __
           f.   SOAP notes                             __       __
           g. financial responsibility            __   __
           h. authorization to pay provider            __       __
   2. What is your policy about boundaries between personal and professional
       relationships? ___
   3. What is your policy about draping? __________
   4. What is your about making referrals? _____________
   5. What is your policy about accepting referrals? ____________
   6. What is your policy about accepting insurance reimbursement clients? ____
Employee Related
   1. Employee work hours and days: __________
   2. Employee benefits include: ___________
   3. What is your policy for pay increases for employees? __________
   4. What are your dress and hygiene requirements? ______________
   5. What is your policy about employees accepting tips? _____________
   6. How will you protect confidentiality in communicating with employees? _____
   7. What is your policy regarding employees accepting clients outside of employer’s
       business? ________________
   8. What is your requirement regarding employees signing a noncompete or
       nonsolicitation agreement? _________________.
   9. What is your policy about reasonable causes for dismissing an employee?
       ______________
   10. What is your method of conflict resolution? _______________
Internal Structure Policies
   1. What is your plan for computer back-up and security? _______________
   2. How will you protect client and employee records? _____________
   3. What is your supplier relations policy? _____________________
   4. What is your equipment maintenance policy? ____________________________
   5. Maintenance and updating of financial records
       Record                                                  Update Frequency
       Checking account                                        _____
       Budget                                                  _____
       Ledger sheet                                            _____
       Balance sheet                                           _____
       Income statement                                        _____
       Cash flow statement                                     _____


   6. Tax return filing
       Tax Form                                                        Filing Schedule
      Form 1040-ES Estimated Tax for Individuals                      ___
      Form 1040 U.S. Individual Income Tax Return                     ___
      Form 1040 Schedule C Profit or Loss from Business
      Form 1040 Schedule SE Self-Employment Tax
      Form 1065 Schedule K1 Partner’s Share of Income
      Form W-2 Wage and Tax Statement
      Form 1099-MISC (report payments of $600 or more to independent contractors)
      Form 2106 Employee Business Expenses
      Other:
       __________________________
       __________________________


PROFESSIONAL ASSISTANCE
For what areas will you hire professional assistance?
       Business consulting ___
       Contract negotiation ___
       Accounting/bookkeeping ___
       Taxes ___
       Legal ___
       Graphic design ___
       Marketing___


HIRING
   1. Do you plan to bring others into your business?
        Clerical support
        Administrative support
        Massage therapists
        Other ________________________


   2. These individuals will be
        Employees
        Independent contractors


   3. How do you plan to recruit individuals for these positions?
       __________________________________________________________________
       __________________________________________________________________
   4. What training and expenses will be required?
       __________________________________________________________________
         __________________________________________________________________


FINANCIAL
    Job Hunting Expenses                                              Estimated Costs
    Printing résumés                                                   ________
    Travel to and from interviews                                                 ________
    Correspondence with interviewers and others networking contacts _______
    Other ________________________________________
    Total: $__________


    Self-employed Expenses
    1. How much do you need to spend on each of the following?


 Expense                         One-time Expense          Annual Expense            Monthly Expense
 Office/practice space
 Office furnishings
 Office equipment
 Office supplies
 Massage therapy
 equipment
 Massage therapy supplies
 Laundry
 Utilities (heat, water,
 etc.)
 Business
 licenses/permits
 Health insurance
 Liability insurance
 Property insurance
 Accountant’s or
 bookkeeper’s fees
 Attorney’s fees
 Printing business cards,
stationery, brochures
Fees for professional
license
Fees for professional
membership(s)
Dues for chamber of
commerce or other
business/community
organizations
Directory listings: print
and online
Digital communications
(voice cell or landline,
Internet connection,
PDA)
Website
(designer/maintenance)
Property taxes (if you
own your business
space)
Estimated taxes
Continuing education
Other
Other
Other
Other
Other
Totals


  2. Where you will obtain the funds you need?
         Personal assets
         Partnership with others
         Borrow Clerical support
   3. How much income do you expect to earn each month?
      From massage sessions                               $_____________
      From sales of merchandise                           $____________
      From room rental to other practitioners             $____________
      From other sources                                  $____________
      Total                                               $____________


   4. Does your expected level of income exceed your estimated monthly expenses?
       Yes
       No


   5. If not, where will you obtain additional funds to operate your practice while you are
      in the development phase? (How will you support yourself until you are meeting
      your income needs?)
      _________________________________________________________________________________________________
      ___________________________________
   6. At your expected level of earnings and expenses, how long will it take before you
      have paid your start-up costs and have begun to meet your income needs? (Consider
      your local cost of living and the needs of yourself and family members, if any.)
      _________________________________________________________________________________________________
      ___________________________________


EVALUATION OF PLAN
   1. What challenges do you need to address before you can implement this career plan?
      __________________________________________________________________
      __________________________________________________________________
      __________________________________________________________________
      __________________________________________________________________


   2. What is your plan for addressing those challenges?
      __________________________________________________________________
      __________________________________________________________________
   __________________________________________________________________
   __________________________________________________________________


3. What is your time frame for addressing those challenges?
   __________________________________________________________________
   __________________________________________________________________

								
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