Spa: A Comprehensive Introduction
Spa professionals are healers for people and society. They are also business people. While spas continue to embrace their origins and roots as places of healing and spiritual renewal, spas are maturing as a business, industry, and profession. Increasingly sophisticated and profit-focused organizations are entering the market, influencing the others in the market to think more about the financial bottom line and how to generate a sustainable profit. Manufacturers and product distributors have become more creative and innovative in their marketing and branding. Investors are more aware of spas and why they are worthy of investment.
From almost the beginning of time, spas have provided renewal, regeneration, and rejuvenation. They have been special places where people go to find themselves. They go to rest, reflect, and rediscover themselves so they can later re-enter the world with a refreshed body, mind, and spirit. Over the centuries, spas have evolved, experiencing sometimes rapid proliferation into mainstream culture. During the past two decades, spas have witnessed a rapid growth and expansion around the world.
The growth and changes in the spa world over the past decade have created a highly competitive environment for spas and resource partners (vendors).
Spas are deeply affected by the world around them and by the same market conditions that affect any other business. Three primary market issues shaping the world of spa are human resources and staffing, the uneven application of standards for the industry, and increased competition from both within and outside the industry.
Retail Management for Spas
During the 18th, 19th and 20th centuries numerous European spas ﬂourished and were supported with full medical staffs and professional personnel. Typically spa visitors were sent to a resort spa by their home doctors in order to “take the waters” and “make a cure.”
Spas have long centered around responding to the needs of people to ﬁnd relief from stress, improve their health, and enhance their overall wellness. Spas design their treatment menus around meeting these guest needs. The retail environment of a spa is a part of that entire package, one that complements and supports the spa’s philosophy.
Bob Hope was known to mention the beneﬁts of his daily massage for feeling so well in his later life. Unfortunately, it is the rareﬁed few who will enjoy the beneﬁts of a daily treatment. This is one of the reasons that retail ﬁts in with the overall purpose of spa.
The word “retail” covers a broad expanse of businesses. It can cover anyone who sells anything in small quantities to the person who will consume those items. Retail stores take on a lot of different appearances. They can be huge department stores, small souvenir shops, arts and craft booths, or gift shops.
Even in the spa environment there is no single picture that illustrates retail. Rather there is a collage of portraits ranging from shelves in a hallway to large boutiques to cozy lounges to shiny displays.
When it comes to retail, there are a lot of players who contribute to making it a success. There are partners, such as the media, ﬁnancial institutions, local businesses, and charitable organizations, all of which can also help a spa business grow and succeed.
Uniform System of Financial Reporting for Spas
A uniform system of financial reporting establishes standardized formats and account classifications to guide individuals in the preparation and presentation of financial statements. The recommendations set forth in this uniform system are based on a consensus of spa industry financial executives, public accounting authorities, consulting specialists, and a leading academy expert, and are consistent with generally accepted accounting principles.
Financial Management for Spas
This text is intended to provide spa beginners and veterans alike with a better understanding of financial management. Our hope is that you will learn to embrace the accounting process and to understand that, while accounting is in many ways a science, there is also an art to financial management. In the end, you will be able to appreciate the beauty in numbers.
Spa Operations Manual
The customizable manual includes comprehensive materials for spa job descriptions, new hire checklists, standard departmental information, specific departmental procedures, staff training, common spa treatments, reference guide templates and more.