How to Write a Business Plan for Your Wellness Center or Small Business
Are you a health and wellness warrior who wants to start your wellness center or business? You have the passion, drive, and ideas, but you’re thinking… where do I start?!
Many wellness professionals begin with a strong vision but are unsure about how to turn their wellness dream into reality. Starting a business can be hard, but with the right tools, you (yes, you!) can bring your vision into the light. I teach how to start a business in the Nat 306 Holistic Health Consulting and Business Skills Online, but for an introduction to the lean and traditional business plans, read on!
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The best tool to start with is a business plan for your wellness center.
There are many options for creating a business plan that range from extremely detailed to simple and direct. The depth and breadth of your wellness business plan depends on who will be funding your venture.
If you want to be funded through a bank loan or investor, a traditional and very detailed business plan is the best option. If you’re self-funding your wellness center dream, a simple and direct business plan is adequate.
The Lean Business Plan for Your Wellness Center or Business
If you’re only using a business plan as a guide to start your venture (i.e., not seeking an investor or bank loan), a simple or direct business plan can suffice.
One great tool to use is the business plan option from Lean Stack called LeanCanvas. This will walk you through the individual steps and provide you with a clean, visually appealing, and detailed business plan.
But if you’re looking to fund your wellness venture through investors or a bank loan, it’s best to go the traditional route and create a detailed business plan.
The Traditional Business Plan for a Wellness Business
A traditional business plan has many sections and may take several weeks to complete. The sections typically include:
- Cover Page
- Table of Contents
- Statement of Purpose
- Executive Summary
- The Business
- Supporting Documents
Let’s break down each section of your traditional business plan:
1. Cover Page
The first section includes the contact information (address, phone number, web page, etc.) for your wellness center or business.
2. Table of Contents
This one’s pretty obvious, and you may want to leave it until the end once you have all the sections of your business plan created. This will help you cross-check page numbers and give you a last look to check for mistakes.
3. Statement of Purpose
The Statement of Purpose is where you describe your business to potential investors. It’s also helpful to provide a small background of the owner(s) (that’s usually you!) and how they are connected to the business (such as having passion and credentials in health and wellness).
4. Executive Summary
The fourth section is a summary of your entire wellness center or business. I suggest focusing on one to two key points from each section of your business plan to help create this piece. It’s important to be brief but informative. You want to make a good impression on potential investors!
Keep the tone professional, watch out for wordiness, and don’t exaggerate any claims. This is another piece that may be easier to complete after the other sections are done.
5. The Business
This section is the meat and potatoes of your new venture. It should include the mission statement, detailed description of the business, purpose and goals, marketing strategies, risk analysis, operating procedures, personnel, and business insurance.
The mission statement can sometimes be difficult to put into words. You have a vision. You’ve told your friends and family. But when you go to write it down… you draw a blank!
How to Tackle the Mission Statement in Your Wellness Business Plan
Treat your mission statement as any other writing project. Don’t be afraid of writing multiple drafts. Embrace messiness in early drafts. You don’t have to write the perfect mission statement in one sitting.
Here are a few ways to approach your mission statement:
- Write down the values and beliefs of your business
- Brainstorm how your venture benefits customers by linking your values and beliefs to your product
- Have a friend or colleague ask you these questions: “Why are you starting this wellness business?” “How will your wellness center help people?” “What makes your business idea special?” “What is the story behind this business?” Record your conversation, and you’ll have plenty of content to draw from for your mission statement!
This will lead you to the more detailed Business Description section. In this section, give specific details on how your business is unique, what services you’ll offer the community, and the long- and short-term goals.
Don’t forget to discuss any risks you may foresee, such as financial, growth, or competition from other businesses.
Lastly, this section also covers the marketing plan. How do you plan to gain and retain customers? What tools will you use? What is your overarching marketing strategy to build awareness around your venture?
This is the last major section of the business plan for your wellness venture. You most likely won’t have revenue yet. (Don’t worry! You’ll get there!) You can look at projected income from your intended business and model it from a consumer analysis.
How successful were similar businesses in your area? You should also factor in personnel costs, production costs, rent, and any other expenses your business may incur.
If you plan on working with investors or getting a loan from the bank, you’ll want to include your personal financial records/tax returns in this section.
You Can Do It!
You have an idea for your dream holistic health business or wellness center. All you need now is the business plan! Remember: all great business started as ideas. Use the tips in this blog post to chart your path and take one baby step every day toward your goal. You can do this!
Let’s support each other! Share your big idea for a wellness center or business in the comments.
Disclosure of Material Connection: I am professor at American College of Healthcare Sciences, the Institution that publishes this blog. However, all opinions are my own. This blog may contain affiliate links. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
This article is for informational purposes only. It is not intended to treat, diagnose, cure, or prevent disease. This article has not been reviewed by the FDA. Always consult with your primary care physician or naturopathic doctor before making any significant changes to your health and wellness routine.
ABOUT NICOLE BETSCHMAN:
Dr. Nicole Betschman has been a professor and health coach for over 10 years and is very passionate about health and wellness. She has a Bachelors in Biology from Bowling Green State University, a Bachelors and Masters in Health Education from East Carolina University, and a Doctorate in Health Education from A.T. Still University. She currently resides outside of the Washington, D.C. area and loves to explore different sites and museums in her spare time. She also enjoys spending time with Chewbaka, her cockapoo puppy! She was recently featured on NBC’s Today Show for the 80 Day Obsession Challenge.