Spa Statistices: A Guide to Successful Spa Business Strategy
By Jane Segerberg Founder & President, Segerberg Spa Consulting, LLC | May 01, 2011
What Gathered Proven Statistics (GPS) do you use to strategize the spa's financial success? Like our reliance on our GPS devices for travel direction, proven spa statistics can be used to direct the spa's business strategy.
Hoteliers know the importance of using reliable statistics to compare performance against industry averages and the property's competitive set, stay ahead of the latest trends and monitor the industry overall. Like the hotel industry's research, the Spa's "GPS" can guide identification for areas of improvement, relevancy to the market and profitability strategies.
Employing a combination of quantitative findings based on surveys and qualitative experience and opinion based surveys taken consistently over a period of time will result in a snapshot of the trends driving spa businesses. An important note of caution - as a maturing industry, the spa industry is just beginning to bank qualified reliable statistics and research that can be used to guide sound forward-looking spa business plans.
Spa Growth Changes
Spas have entered a more mature growth phase. Once enjoying a high rate of growth, some spas were built on emotional rather than practical principles resulting in spas that were sizeable and spectacular but not practical and profitable. In addition, the proliferation and fragmentation of spa segments has led to increased competition which has been amplified by the recent economic downturn.
Experiencing a 15% drop in revenues, spas have found that they aren't immune to changes in supply and demand related to market evolutions and economic fluctuations.