So you want to start an alternative health business, but you don’t know where to start? No problem! At Wellshare, we love supporting practitioners at all stages grow their health business - including beginners. We’ve put together this guide to help you start your alternative health business from the very beginning!
You probably expected this one. I mean, that’s why you’re reading this article right? You’re off to a good start.
Research is vital before you start any business. Why? Good research prepares you and helps you equip yourself to give your business the best chance at success. Take your time to learn about what starting your own business will involve. We’ve outlined a few things below that it’s important to ensure you’ve researched before you open your doors.
It may be worthwhile in this stage to consider talking with someone who has experience running a successful business in your industry. Ask questions, and learn from their successes and mistakes. Remember, even the most successful businesses had to start somewhere. Don’t be afraid to ask for help.
2. Business Plan
Use your research to develop a business plan. This is a document that will be helpful for you to refer. It’s a way for you to formalise how you’re going to go about your business. It often includes strategies for marketing, pricing structures and measurable ways you can track the success of your business.
Often, this is the type of document banks want to see before they give you a loan. It shows that you’ve researched and that you’re serious about succeeding in your business.
It can also just be helpful to get ideas out of your head and onto paper.
3. Business Name and Strategy
Your business name is important. It’s what people will associate with your services on an ongoing basis. Try not to put too much pressure on yourself in this stage. It may feel scary, but it’s exciting too!
Your business strategy refers to the type of ‘brand’ you want to create around your business. This involves thinking about lots of the visual elements, as well as the style of written communication of your business. Logos, colour, ‘tone’. Deciding this now will make for more effective marketing later on.
Here are a few things to consider when it comes to naming your business:
A few things to consider when it comes to your brand strategy:
4. Permit Time!
It’s time to get your permits, insurance and finances in order. Some businesses might need to apply for a loan or fundraise to get up and running.
Get your financials, insurances, permits and qualifications in order so that all the administrative duties of beginning are taken care of.
5. Location, Location, Location
Your location is often vital to your success. Now that all your documents and finances are in order, you’re in a great position to find your location. Great locations often go fast, so it’s good to have everything in order early on in your search.
Take some time and find the right space for your business. There are a wide range of possibilities for location and rental options.
Every business will vary with the amount of staffing it requires. If you’re venturing out on your own - you can skip this step! But if you’re not, now is the time to organise your staffing. Consider what roles you don’t want to perform yourself, and what your budget can afford.
7. Plan Your Launch
So you’ve got everything now, except the clients. Start your business off well by planning how you will lead up to the launch of your business. Utilise social media and concentrate your marketing efforts around this date. Start your business off well, with a launch.
What does this mean? Build excitement in people around the time you’ll be opening. A month to two weeks beforehand is usually a good time frame. People are often curious about new businesses, so harness that curiosity and gain some clients. Create count downs to open day, or your website launch on social media. Get people talking.
Consider how you might incentivise clients to try your product or services around the time of your business launch. An introductory offer is often a great way to do this.
8. Take off
You’ve done all the prep work - now it’s time to get to business! Remember to take a moment and appreciate this moment. You’ve worked hard to get here.