The commercial lease space body contouring business model: how calculated risks lead to big rewards

Kay: 00:01

Most of us dream of having a big successful business.  And if you’re one of those, we have a couple of questions.  Are you willing to take risks to achieve your goals?  Willing to step out of the comfort zone to build a profitable body contouring business?   If you are game to put in the time, work and financial investment to reap these rewards, opening your business in a commercial lease space is the way to go.  And yes, it’s a bigger undertaking than the other models, but if you’re willing to go the extra mile, you will get what you have your eyes on.  Shannon and I did it.  Multiple times.  And we’re gonna tell you how to do it too. But here’s the deal.  More than likely, there won’t be a perfect opportunity or a perfect time.  Life just doesn’t work that way,  But building a big business in a lease space is completely doable.  It’s all about planning and taking that challenge.  In today’s episode we’re going to tell you how to do it, what to consider and the steps you need to take.  Stay tuned. 

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Shannon: 01:20

You’re listening to The Body Contouring Academy’s Proven Profits Podcast 

Where you’ll learn simple actionable strategies from real world successful body contouring professionals to help you generate more revenue, realize the profits you want and create the life you desire. 

Hi I’m Shannon and I’m Kay and we’re your hosts of The Proven Profits Podcast

Kay: 01:54

Hi there healthcare professionals, business owners, body contouring technicians and beauty professionals!  Welcome everyone!   Kay here. Shannon and I want to thank you for being here too!

This episode will conclude our three part series.  In our previous two episodes, we detailed two different business models, the mobile-based body contouring business and the home-based body contouring business. Helping you identify the business model that’s right for you.  

Today, we’re zeroing in on the most ambitious (and also the most risky) business model of the three, and that is starting your body contouring business in a commercial space.  Like we’ve done three times!  And don’t think we didn’t experience heart pounding on many occasions. But honestly, we’ve had great times and our businesses have given us the lives we wanted.  

So if you want maximum income and the greatest potential for growth, look closely at this business model.

We’re gonna take a close look at this business model. We’ll tell you how to do it, what you need to consider and the steps you need to take.  Plus we’ll tell you how to access our Free written Guide to starting a commercial lease space body contouring business.

You know the body contouring business is booming like no one’s business.  Demand is growing nearly by the day.  And again we say, if your dream is to jump on this opportunity and build a big, profitable body contouring business, the lease space body sculpting business model might be perfect for you.  That’s because when you open your body contouring business using this model, your potential for profit and growth goes through the ceiling.

Besides the huge potential for profits and growth, the lease space body sculpting business model has other advantages.

Let’s start with…the perks…or the Pros

The benefits of a lease space body sculpting business

You can deliver the ultimate ‘experience’ 

Like it or not, consumers expect body contouring services to align with luxurious spa services, including an ‘experience’ similar to ones enjoyed in a spa.  

Specifically, your body contouring clients expect to feel 

Relaxed

Restored

Refueled 

Indulged  

This means you must 

select  the right location and 

develop a business concept with the design and special touches that attract clients and propel your body contouring business into one of high demand. 

Professional appearance

Have you heard the phrase, “perception is reality?”  It’s so true.   The image your client’s hold of your body sculpting business cannot be understated when it comes to the probability of your success and growth.  

The simple fact that you are operating your business from a commercial location leads consumers to view you as a professional. 

Ability to offer more services and an expanded menu

Because you won’t have to travel with your ‘studio’ (mobile biz) or share your studio space with your home (home-based biz), you will be able to take on more machines and equipment.  This allows your menu to grow and meet the growing needs of your clients…which means more money in the bank. 

Simple fact.  the lease space model can yield a yearly income of $100 000!   

And we can attest to that.  Our most recent body contouring business in a commercial lease space quickly became a six-figure medical spa that still operates at that level…nearly ten years later! 

You can (should) charge more for services

When you open your body contouring business within a commercial lease space, and follow our steps (which we will discuss in a minute), you can demand a higher fee for services.  Think of it as a ‘professional premium’ or an ‘experience premium’ because of the environment, ambiance, and ‘experience’ you are providing your clients.  

Potential for growth

Depending on the size of your lease space, you will have room to grow and a growing list of clients to consume the services.    

All of that makes sense, right?  

Now let’s move on to the cons, or the considers you should undertake

In other words,..

How to prepare for a commercial lease space body sculpting business

Let’s remind you.  This business model is the most ambitious (and highest risk) of the three models, so it’s important to undertake the considerations we’re going to discuss early on.  

And if you think this business model is for you, just listen now.  Then go back, listen again and take notes.

1. Goal setting and number crunching  

Calculate your startup costs

Calculate your overhead

Set a detailed startup budget

Establish a detailed monthly operational budget

Establish a detailed monthly marketing budget 

Draw up your short-term and long-term goals.  Make sure they are realistic and precise. Prioritize them in order of necessity.  Assign deadlines to achieve the goals. 

Here’s an example: 

     Increase fat cavitation treatments by 5 per week, reassess 

     at end of month 2 and 6

Reassess, adjust and reset your goals regularly 

Just gonna tell you now.  Most of us go into body contouring because we like to help people, not because we like paperwork and numbers.  But to be successful in business, you have to do these things and start liking them because you need to excel. 

2. Understand your market and identify your target market

Who are your target customers, demographics, professions, gender, etc.?  

Where are your target customers, what zip codes or neighborhoods? 

What do your target customers want, look at social media chat, competitor’s offerings?

Determine what customers are looking for

Know what area of town your clients frequent

Develop a clear understanding of your target customers, their needs and desires

Research your competitor’s websites

Visit 2-3 of your closest competitors

3. Select your space and location 

It is often said (and is very true) that one of the biggest secrets to a successful business is location.  

Location considerations

Visibility 

Parking

Demographics

Traffic, foot and vehicle

Type of area (retail is best in most cases)

Accessibility 

Proximity to competitors

Size of the space

Your lease space is one of the largest expenses your business will have.  

What are your current needs and future needs?  

How many rooms?  

Will you need a reception lobby, a phone office, a break room?  

Though your needs may start small, growth can happen quickly.  Every inch within a space counts.  Your goal is to find a space within your budget that has room for your business to grow.

Do not underestimate the potential for rapid growth.  Our last medical spa grew so quickly, that within 10 months of opening, we needed to add an adjacent 1200 sq ft lease space to our business.  We were fortunate that the space was available!

Finish out and signage

Be sure your budget includes

The cost to finish out your space 

Signage costs 

                 

PRO TIP:  Oftentimes, you can negotiate with your landlord to pay a large portion of your finish out costs, especially if you agree to enter into a longer term lease (ex: 3 - 5 years).  So you don’t have to take on the entire burden all by yourself.

So get representation (there are real estate agents who work for clients wanting to lease a commercial space) and try to get all the concessions you can get from your landlord.

4. Supplies and Machines

Remember we talked about our Guide?  Well you can get the complete list of recommended lease space body contouring business supplies by downloading our FREE downloadable Body Sculpting Business Guide for the lease space body sculpting business model!  

You’ll find the link to the free guide in today’s show notes!

But we’re giving great information too now.

Regarding  machines, one piece of advice.  When you open your body contouring business (or even before then) and you’re considering certification in body contouring, we recommend our Body Contouring 6 in 1 Masterclass.  

It has always been our number one recommendation because it delivers multiple treatments which makes it the perfect course to get your business started.  In the course,

You’ll earn certification in four technologies:

Cavitation

RF Skin Tightening

Vacuum/LED 

Lipo Laser 

And have the ability to treat four different body concerns:

Unwanted fat

Loose skin

Cellulite

Stretch marks

If you want to learn more about this body contouring certification course, we have a link to the course details in the show notes.

You can see all of our courses on the certification courses page of our website.  And we’ll leave a link to that page for you as well.

 5. Furnishings

You will need furnishings.  The amount and type you need will depend on factors such as your layout, your style, the size of your space and the number of rooms in your space.  Consider your need for these items.

Reception chairs and/or sofa

Reception tables

Receptionist desk

Chairs for treatment rooms

Break room table and chairs

6. Setting your fees

Now by following our steps, you have created a great body contouring destination.  

We recommend keeping your fees within the range of your competitors.  

Start increasing your prices as soon as you build up your client base.  

Then after you have established your reputation as a body contouring expert in high demand, increase your fees again.  

Be sure to figure your overhead at least annually, quarterly is better to really watch that…and make sure your fees always include a healthy profit.  

 

7. Investigate Legalities

Depending on your locale, before you open your body contouring business, you will need to meet certain legal requirements.   

Certificate of occupancy for your space

Federal Income Tax ID (EIN)

Liability insurance for your space

Liability insurance for you and your team

Business insurance

Note:  Some states have additional requirements.  Check with the officials in your jurisdiction.

Think a commercial lease space body sculpting business model might be for you?

This business model yields the highest rewards, both financially and professionally.   

Ask yourself.

Am I ready to commit to building a high-growth, high-profit body contouring business?  

To go all-out and open my body contouring business in a commercial lease space?  

Miley Cyrus is quoted as saying, “The greatest opportunities in life come with fear and risk.”  We think this describes the lease space body contouring business model to a tee.

And don’t forget we promised you our FREE Lease Space Body Sculpting Business Guide 

The link to access it and download it is in today’s show notes!

Before we conclude, we need to double check.

Did you miss an episode…and a Guide?

If you want to listen to our episode about the mobile-based business with the free downloadable Mobile-based  Body Contouring Business Model Guide.  We’re leaving a link in the show notes.  

And/or if you want to listen to our episode detailing the Home-Based Body Contouring Business Model Guide.  You’ll also find the link to that episode in today’s show notes.  

That’s it for today and this also concludes our three part body contouring business model series.  We hope you’ve found today’s episode and our entire series helpful in choosing the right one to open your body contouring business.

Until next time! Beautiful Wishes!

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Shannon: 21:21

If you enjoyed our podcast, we’d really appreciate it if you take a few minutes to leave us a review. 

And, if you’d like to learn more about our courses and resources, you can get ALL the scoop by visiting our website,  bodycontouringacademy.com, that’s bodycontouringacademy.com.  

Thank you so much for listening.  As always, have a great rest of your day!  And until next time, Beautiful wishes!