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Partnering With Intelligence
By: Victoria L. Rayner
Posted: June 9, 2008, from the December 2006 issue of Skin Inc. magazine.
The resurgence of partnering arrangements is an inevitable consequence caused by the continuous struggle of spa entrepreneurs to remain as independent as possible. Spa owners face special problems due to soaring business expenses. Radical changes in treatment measures are yet another factor involved—especially when combined with an influx of new products and must-have technological service devices. Franchises also are making the operation of spa businesses by single owners nearly impossible.
Practically everywhere you look, jointly owned and operated spa enterprises are appearing. Two owners can split the expenses, lighten individual responsibilities, generate twice as much profit and even gain a competitive edge with half the effort. However, it takes a lot more than going from a “me” to a “we” in business in order to make a long-term partnership thrive. Preparedness is crucial when taking advantage of the opportunities that this affiliation affords.
More than a legal nightmare
At one time or another, every professional has been privy to the cynical stories that have circulated throughout the industry describing the many potential and common pitfalls attributed to badly conceived partnerships. It’s no wonder that so many people in the beauty field have such a poor opinion regarding them after having been exposed to so many grim views of the demise of such relationships.
In today’s world, despite all of the negative tales told, collaborations are popular again. One thing that never will change is that all spa professionals who do desire to pair up must take the necessary steps in order to form synergetic business alliances from the very onset of their mutual business concern. Selecting the wrong partner can affect whether an enterprise runs smoothly, and can impede or prevent its success for years.
Because associates become so deeply intertwined with their businesses, it is worth the effort to determine what makes a good candidate for a partner. See The Nearly Perfect Partner Profile for personal qualities that are important to seek out.