Issue link: https://www.massageandbodyworkdigital.com/i/1338685
L i s te n to T h e A B M P Po d c a s t a t a b m p.co m /p o d c a s t s o r w h e reve r yo u a cce s s yo u r favo r i te p o d c a s t s 77 projections, details of the services and products offered, a market study and survey analysis, and a plan for marketing strategies. You don't have to write a book, but be clear and concise (see the example on page 58). Remember to revisit your plan on a regular basis and adjust, as necessary. THE CHECKLIST As you head toward opening day, it's helpful to have a checklist of the things you need to do—and it's satisfying to mark them off the list. Keep in mind that different people will need different checklists (the mobile practitioner has different needs than the person who's opening a day spa or the therapist who rents space from other practitioners or works at home), but make your list and check it twice. Necessities for all, regardless of work environment, are: • Proper licensing and any local permits required in your jurisdiction • Liability insurance • A business plan that includes your business budget • A business checking account • Necessary equipment and supplies • A business website • Credit card processing service Those who plan to open a storefront business will need to: • Decide what your business structure is going to be and file necessary paperwork. You may want to obtain advice from an attorney, certified financial planner, or tax advisor. • Visit the chamber of commerce and the Small Business Administration for helpful information. Joining the local chamber of commerce is usually a great investment. Gift Certificate Laws Short of retirement or getting an offer you just can't refuse, no one wants to close their business, especially not in a bad way that will harm your reputation. We need to remember that gift certificates and package sales are on the liability side of our balance sheet. If we received the money, we still owe the work. Federal law prohibits gift certificates and gift cards from having expiration dates shorter than five years from the date of sale. The laws governing gift certificates vary in different states, and some states do not allow them to expire at all. If the law in your state is more restrictive than the federal law, you are obligated to abide by the more restrictive law. The law is also generally on the side of the consumer; they paid for a service and you owe them the service. The safe thing to do when you sell certificates and package deals is to leave that money alone "in escrow," so to speak. Don't pay yourself (or your staff) until the certificate is redeemed. That can save you a lot of stress and financial distress in the event that you can't honor them. When the COVID-19 pandemic struck, I was seeing just a few clients a month at a salon owned by a friend. In early March, a few weeks before our governor mandated a shutdown order, I refunded unredeemed gift certificates. I didn't want that liability hanging over my head. I sent each of my clients a personal letter that I was not returning to practice until at least 2021 and sent them the contact information for other therapists who were still practicing. Our shutdown is over (for the moment, anyway), but I have not returned. I renewed my license a few months ago, and I'll go back when I feel good about it. In the meantime, I don't owe anyone massage, and the clients have their money to spend elsewhere. Back to Practice Protocols When opening a business, there are any number of things to consider. And now, among them, are protocols for safely practicing in a COVID world. ABMP has put together those resources online at abmp.com/back-to-practice. There, you'll find information and forms relating to marketing readiness, pre-session interaction, post-session sanitation, PPE, and in-session protocols.