After the past two years, it is no secret that there has been a shift in people’s lives personally and professionally. On a personal level, consumers are more likely to spend money on self-care, health, and wellness than ever before. According to the estimates by IMARC Group, the global health and wellness market is expected to reach a value of US $4.24 Billion by 2026. People no longer want to work for someone else on a professional level so executives in higher positions can benefit. In other words, the entrepreneurial spirit is alive now more than ever.
Here is a quick breakdown of the initial investments and what it takes to open a Hand & Stone Massage and Facial Spa:
What It Costs to Open a Health & Wellness Franchise
Hand & Stone is the massage and spa franchise segment leader, as ranked by Entrepreneur two years in a row. With over 500 locations and almost 20 years of proven continued business growth, we continue to lead the way in the health and wellness industry.
The average initial investment and costs necessary to begin operating a single Hand & Stone Massage and Facial Spa could range from $581,326 to $695, 146*. We also require a minimum net worth of $750,000 and $150,000 liquidity at minimum. We’ve done the math so you don’t have to in order to finance site build-out, signage, equipment, inventory and a variety of other expenses.
To view the full breakdown of the initial investment, click here.
Hand & Stone’s Real Estate Manager, Stephanie Newton, explains “ Most landlords provide a tenant improvement allowance to help offset the build-out costs. This is paid to the tenant once a spa has been opened." She continues, “One of the advantages of signing with Hand & Stone is our success in receiving these landlord concessions.”
I meet the financial requirements, what else is expected of me?
When considering Hand & Stone Massage and Facial Spa, it’s important to note that no experience in the spa or massage industry is required. Our proven model, comprehensive training, and your staff of licensed professionals allow you, the franchise owner, the ability to focus on the four main objectives to grow your first Hand & Stone while laying the groundwork for future openings.
As a Hand & Stone Massage and Facial Spa franchise owner, you will:
- Manage and motivate your team
- Recruit staff and be the face of your franchise
- Be responsible for all aspects of financial management
- Market and advertise in tandem with our professional in-house agency
The Hand & Stone franchise development team will make sure you are ready to handle all of these responsibilities prior to opening day. We offer extensive pre-and post-opening support as well as comprehensive training to prepare you for everything you will face during your journey with us.
Who will support me along the way?
So much goes into owning a business but if executed with an experienced team to guide you every step of the way, the return is more than you could ever imagine. We at Hand & Stone take pride in our stacked team of franchise and health & wellness industry veterans that assist our new franchise owners. Our franchisee support includes assistance with real estate selection, construction and design of your spa, recruitment of your team, education & training, field operations, marketing & advertising, financing, and more.
Are you looking to open a massage and spa franchise with a leader of the industry? Learn more about becoming a Hand & Stone franchisee by downloading our franchise brochure.