Spas, which serve as a sanctuary for wellness and relaxation, have boomed worldwide, earning billions of dollars from an assortment of services they offer. Unlike other types of businesses, spas are considered among the most flexible with the ability to gain profits, catering to low, mid-range, and high-end clientele.
Case in point is the steady growth of the massage-and-facial franchise chain, Massage Envy. Over the past decade, the spa has transformed into an empire using an affordable membership model that has propelled the business to grow to more than 1,000 locations in 49 states in U.S. To date, the spa is considered the country’s largest employer of massage therapists with impressive annual system-wide sales that average up to $1.2 million.
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| Image source: researchonindia.com |
Attesting to the spa’s success is Rick Davis, a former tech executive who helped raise millions of dollars in venture capital. Davis ventured into the spa industry when he decided to invest in a franchise chain of Massage Envy. A former owner of a fast-food chain, Davis reasoned that maintaining a spa is less more rigid than his previous venture due to its steady revenue, which is often sourced from its one-year memberships that costs $59.99 to $79.99 a month.
Today, Davis is the owner of five Massage Envy clinics in the Seattle area. He revealed that 70 percent of his revenue came from those membership fees. He professed: “I’ve raised big money in Silicon Valley, but this is the most successful and fun business venture I’ve ever been in.”
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| Image source: yelp.com |
For people like Davis, the spa industry has proven profitable with the right choice of franchise and business and business model. It is a capital-intensive business venture that provides promising returns to investors.
Massage Envy Spa is the pioneer and national leader of affordable massage and spa services. To learn more about the company, visit this website.
