Your potential for growth isn’t only about having a good number of the right clients who value the services of your spa or massage practice. Success generally involves having the right strategic partnerships as well. Your partnerships could potentially involve merging your business with another. It also could involve marketing partnerships with other business entities that share a similar client profile. And then there are the partnerships you form with suppliers. At BIOTONE, we consider all our of customers partners to serve the needs of consumers seeking massage and skincare services and to achieve our respective business goals at the same time.
So when it comes to partnering, you want to be sure to carefully consider the needs of your spa or massage practice and the potential for growth that will comes with the right partner. To make the right choice, here are some criteria to consider. Some will be more important or relevant than others based on the type of business partnership you seek.
Shared vision and values: Before you even begin to look for a partner, be very clear about what you hope to achieve, over what period of time and what you value the most. It may be more important for you to build a solid standing in the community than attract a lot of new clients quickly. You want to be sure that your vision of success and how to get there matches that of a potential partner.
Complementary skills: To move your business forward, ideally you want someone who brings complementary skills to the table so that you can service a greater range of clients. If you have a massage practice, you may want to partner with chiropractor or physical therapist. A spa owner might want to partner with a health or fitness club for referral purposes.
Similar market view: If you believe there is an opportunity to market massage – sports or Thai, for example – and your partner doesn’t agree; you need to be able to sort out the differences of opinion. If you don’t see the market the same way, you may find yourself constantly at odds about how to proceed to the next step.
Ability to communicate: Even when the vision and values are similar, if you can’t communicate with each other, it will be difficult to make decisions and move ahead. You don’t have to have the same personality, but you should be able to talk about issues, agree on resolutions and move forward toward the same goals.
Financial stability: You don’t want to be left holding the bag. Find out about a potential partner’s credit history and financial ability to support the endeavor you share.
Outstanding ethics: You have to be able to trust your partner and feel confident the person will never let you down. That’s why your partner must share your standards of honesty, integrity and business conduct.
When you find the right partner; value it. Like any relationship, a partnership will need periodic reviews to make sure things are going smoothly and meeting the needs and expectations of each party involved.