<p> BUSINESS PLANNING WORKSHEET PRACTICE GOALS AND OBJECTIVES 1. What type of practice do you want to set up? ______2. What are your desired working hours and number of massages per week? Working hours ______Number of massages per week ______3. What are your objectives for income? a. Weekly______b. Monthly ______c. Annually ______4. In what time frame do you want to achieve these objectives? ______</p><p>LAWS AND REGULATIONS 1. What state laws and licensing requirements, if any, govern massage therapy and bodywork? Hours of school required ______Practicum required Yes No State licensing exam required Yes No NCTMB certification required Yes No FSMTB exam (MBLEx) required Yes No Hours of continuing education (CE) required ______How often CE requirements must be met Annually ___ Every 24 months ___ Other ______</p><p>2. What is the scope of practice for massage therapy in your state? ______</p><p>3. What restrictions, if any, does your state place on the practice of massage therapy? (List. Use an additional sheet if necessary.) ______</p><p>4. What county or municipal laws and licensing requirements are required? ______</p><p>5. What fees are required? State registration/certification/licensing Application fee ______Certification fee ______Renewal fee ______County or municipal Business license or permit ______Renewal ______</p><p>INSURANCE What insurance will you buy?</p><p>Type of Insurance Provider Cost Professional liability ______General liability ______Property Business interruption Disability Workers’ Compensation Health (medical)</p><p>MARKET NEED – SUPPLY & DEMAND 1. How large is the total consumer demand for massage in your market? ______</p><p>2. What massage services are being provided already in your area? ______</p><p>3. Describe the categories of potential clients you plan to serve. ______</p><p>4. What experience, skills, and credentials do you have that will enable you to meet the needs of this market? ______</p><p>5. How large is the market you plan to serve? ______</p><p>6. Is the total number of clients in these categories large enough to meet your income objectives? Yes ___ No ___</p><p>7. If not, what other client category can you target, or in what other communities or settings will you work? ______</p><p>8. Are there other client categories that might also seek your services? If so, who, and how many? ______</p><p>9. What other experience, skills, and credentials will you need to meet these needs? ______</p><p>10. If you’ll be working with others, how will their experience and skills complement yours in meeting the needs you have defined? ______</p><p>SERVICES AND PRODUCTS 1. What massage modalities do you plan to offer? ______</p><p>2. What, if any, other services do you plan to offer (such as aromatherapy, yoga, training seminars, specialty retreats, etc.)? ______</p><p>3. What, if any, products do you plan to sell (such as lotions, vitamins, CDs, T-shirts, etc.)? ______</p><p>4. How do the additional products and services fit in with your main practice of massage therapy? ______PRICING 1. What price do you plan to charge for each type of service or product? For each, indicate the price charged by other local sources of similar services or products. Your Price Local Price</p><p>______</p><p>______</p><p>______</p><p>______</p><p>2. If your prices are different from others’, explain how you will justify the difference to your clients. ______</p><p>3. Do you plan to offer discounts? If so, for what reasons and by how much? ______</p><p>MARKETING PLAN (See Chapter 7, “Spreading the Word”) 1. Marketing Goals, Strategies, Objectives, Tactics GoalsStrategies Objectives Tactics New Clients ______Client retention ______Winning back clients ______</p><p>2. Practice Identity Practice name: ______Description of targeted client type: ______Description of practice décor: Exterior (signage, etc.): ______Interior: ______</p><p>3. Advertising – Check the types you will use.  Billboards  Brochure that tells about your business  Bulletin boards at local businesses  Business cards  Cable TV  Direct mail  Directory listings  Links to other websites  Newsletters to clients  Print ads (newspaper, magazines)  Radio  Website  Other: ______ Other: ______Provide details of how you will use advertising to market your practice. ______4. Promotions – Check the types you will use.  Cross-promotions with other businesses  Gift certificates  Giveaways (branded/unbranded)  Other: ______ Other: ______ Other: ______Provide details of how you will use promotions to market your practice. ______</p><p>5. Public Relations – Check the types you will use  Presentations at local organizations  Media releases  Volunteer at community events  Other: ______ Other: ______Provide details of how you will use public relations to market your practice. ______</p><p>6. Networking List names of organizations with whose members you will network. ______List other ways in which you will network. ______</p><p>PHYSICAL SPACE (See Chapter 3, “Creating a Sense of Place”) 1. Where do you plan to practice?  Home-based practice  Clients’ homes (outcall)  Rented or leased office space  Other business location (hospital, fitness center, etc.)  Corporate workplace  Retail setting  Other ______ Other ______</p><p>2. What furnishings will you need to provide in order to create the desired environment for your practice? (Enter cost under expense chart in Financial section.) ______</p><p>3. Will anyone else be working with you? Yes ___ No ___ If so, where will they work? ______</p><p>BUSINESS POLICIES Relationship Policies Client Related 1. State your customer service philosophy. ______2. Specify the code of ethics your business follows. ______3. Specify the standards of practice your business follows. ______4. What procedures will you follow to protect our clients’ confidentiality? ____ 5. Your cancellation policy: ______6. Your late arrival policy: ______7. Your no-show policy: ______8. Your business hours: ______9. Your rates for services: ______10. Your fees are: ______11. In what instances will you offer discounts? ______12. Under what circumstances will you provide complimentary massage? ______13. Your policy for accepting/not accepting credit cards (and which ones): 14. Your policy regarding requiring payment in advance. ______Exceptions: ______15. Your policy regarding tips. 16. Your policies regarding safety and security: ______17. Your intake form includes: Yes No a. informed consent __ __ b. insurance information __ __ c. assignment of benefits __ __ d. release of medical records __ __ e. contract for care __ __ f. SOAP notes __ __ g. financial responsibility __ __ h. authorization to pay provider __ __ 2. What is your policy about boundaries between personal and professional relationships? ___ 3. What is your policy about draping? ______4. What is your about making referrals? ______5. What is your policy about accepting referrals? ______6. What is your policy about accepting insurance reimbursement clients? ____ Employee Related 1. Employee work hours and days: ______2. Employee benefits include: ______3. What is your policy for pay increases for employees? ______4. What are your dress and hygiene requirements? ______5. What is your policy about employees accepting tips? ______6. How will you protect confidentiality in communicating with employees? _____ 7. What is your policy regarding employees accepting clients outside of employer’s business? ______8. What is your requirement regarding employees signing a noncompete or nonsolicitation agreement? ______. 9. What is your policy about reasonable causes for dismissing an employee? ______10. What is your method of conflict resolution? ______Internal Structure Policies 1. What is your plan for computer back-up and security? ______2. How will you protect client and employee records? ______3. What is your supplier relations policy? ______4. What is your equipment maintenance policy? ______5. Maintenance and updating of financial records Record Update Frequency Checking account _____ Budget _____ Ledger sheet _____ Balance sheet _____ Income statement _____ Cash flow statement _____</p><p>6. Tax return filing Tax Form Filing Schedule  Form 1040-ES Estimated Tax for Individuals ___  Form 1040 U.S. Individual Income Tax Return ___  Form 1040 Schedule C Profit or Loss from Business  Form 1040 Schedule SE Self-Employment Tax  Form 1065 Schedule K1 Partner’s Share of Income  Form W-2 Wage and Tax Statement  Form 1099-MISC (report payments of $600 or more to independent contractors)  Form 2106 Employee Business Expenses  Other: ______</p><p>PROFESSIONAL ASSISTANCE For what areas will you hire professional assistance? Business consulting ___ Contract negotiation ___ Accounting/bookkeeping ___ Taxes ___ Legal ___ Graphic design ___ Marketing___</p><p>HIRING 1. Do you plan to bring others into your business?  Clerical support  Administrative support  Massage therapists  Other ______</p><p>2. These individuals will be  Employees  Independent contractors</p><p>3. How do you plan to recruit individuals for these positions? ______4. What training and expenses will be required? ______FINANCIAL Job Hunting Expenses Estimated Costs Printing résumés ______Travel to and from interviews ______Correspondence with interviewers and others networking contacts ______Other ______Total: $______</p><p>Self-employed Expenses 1. How much do you need to spend on each of the following?</p><p>Expense One-time Expense Annual Expense Monthly Expense Office/practice space Office furnishings Office equipment Office supplies Massage therapy equipment Massage therapy supplies Laundry Utilities (heat, water, etc.) Business licenses/permits Health insurance Liability insurance Property insurance Accountant’s or bookkeeper’s fees Attorney’s fees Printing business cards, stationery, brochures Fees for professional license Fees for professional membership(s) Dues for chamber of commerce or other business/community organizations Directory listings: print and online Digital communications (voice cell or landline, Internet connection, PDA) Website (designer/maintenance) Property taxes (if you own your business space) Estimated taxes Continuing education Other Other Other Other Other Totals</p><p>2. Where you will obtain the funds you need?  Personal assets  Partnership with others  Borrow Clerical support</p><p>3. How much income do you expect to earn each month? From massage sessions $______From sales of merchandise $______From room rental to other practitioners $______From other sources $______Total $______</p><p>4. Does your expected level of income exceed your estimated monthly expenses?  Yes  No 5. If not, where will you obtain additional funds to operate your practice while you are in the development phase? (How will you support yourself until you are meeting your income needs?) ______6. At your expected level of earnings and expenses, how long will it take before you have paid your start-up costs and have begun to meet your income needs? (Consider your local cost of living and the needs of yourself and family members, if any.) ______</p><p>EVALUATION OF PLAN 1. What challenges do you need to address before you can implement this career plan? ______</p><p>2. What is your plan for addressing those challenges? ______</p><p>3. What is your time frame for addressing those challenges? ______</p>