After the past three 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. On a professional level, people no longer want to work for someone else, enabling executives in higher positions to reap all the benefits. 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 $526,791 to $691,311*. We also require a minimum net worth of $750,000 and $150,000 liquidity at minimum. This includes finance, site build-out, signage, equipment, inventory, and various other expenses.
To view the full breakdown of the initial investment, click here.
Hand & Stone’s Director of Real Estate, Stephanie Newton, explains “Some 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."
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, 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 Development team will make sure you are ready to handle all these responsibilities prior to opening day. We offer extensive pre- and post-opening support and 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 who 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, and financing. In 2022, Hand & Stone spas that have been open for at least 12 months had an average gross sales of $1,300,000*. This number will vary by the owner and location, but we offer the support to help achieve your entrepreneurial dreams.
Are you looking to open a spa franchise with a leader in the industry? Learn more about becoming a Hand & Stone franchisee by reaching out to franchise@handandstone.com. Someone on our team will contact you soon!
