In a perfect world, money wouldn’t matter, and this article would consist of pages and pages of expensive up-to-the-minute spa design trends that would make your heart race and inspire you to begin that next round of incredible high-end enhancements and additions to your spa. Unfortunately, it has become very clear lately that money does indeed matter, which makes it more crucial than ever to make your spa an enticing sanctuary that keeps your clients coming back, ensuring that your business will make it through the current economic crunch.
It is difficult to make a sweeping statement about how spas are faring during this downturn because every business’ experience is different. Some spas, for a multitude of different reasons, may be weathering the storm well. Some owners may have saved conservatively, paid off all existing debt and operated within their means. Those who’ve played it safe may not have reaped the benefits of wowing their clients with amazing, trendy offerings, but they are currently feeling pretty secure and are resting on fat savings accounts that are just waiting to be spent.
Other spas—perhaps most spas—are somewhere in the middle and are breaking even on their revenue and expenses. They aren’t ready to close their doors, but they also won’t be adding a new nonrevenue-producing space anytime soon.