Introducing the Massage Therapist Income Calculator
In the end, every successful massage therapy practice has to abide by a single universal truth:
Generate more income than is spent
But you already knew that.
But what you’re probably a little fuzzier on is exactly how much you make, how much you spend, and what impact a price change or adding staff would have on your income potential as you think about ways to grow.
At MassageBook, our mission is to help you focus on two very basic things to succeed:
Simplify and streamline the management of your practice
Generate more income
Today, we’re introducing a very simple, yet powerful tool – free to everyone – that will help you answer many of the “what if” questions you may be thinking about as you consider different ways to increase your income.
Let’s take a quick look at how the calculator works and how it will help you answer some very important questions.
The first tab is titled “Your Income”:
Here you can answer questions like:
How much will a $5 increase in my prices impact my annual income?
What if I increase the number of services I perform each week by 1 or 2?
How much is not selling more gift certificates costing me? (Typically 50% or more are never redeemed)
Can I reach my income goals and still take a month off of work?
How does the Massage Therapist Income Calculator work?
Just enter values for the various line items and your annual income calculation will be updated immediately. Not shown in the image below is the expense part of the page. Here you can add costs you encounter like rent and supplies to get a true idea of what your “take home” annual income looks like.
Now let’s move on to the next tab, where you can answer the question:
Should I add staff to my practice?
Change the values for the number of staff you’re considering adding. By modifying the commission or percentage you pay your staff – and adding any additional expenses (like additional rent for more rooms), you can get a clear understanding of what the impact will be on your annual net income.
Tab #3 Adds up all the income and expenses from tabs #1 and #2 and presents you with the total Annual Income values
Here you can take a look at the whole picture to see what your combined income totals look like across your activity and that of additional staff.
Finally, at the bottom, we show you what your weekly and monthly goals should be if you wish to reach the annual target you’ve set.
Suggestions for setting income goals using the massage therapist income calculator
When setting goals, make sure they’re “reasonable yet reaching”.
Setting goals too high right out of the gate tends to be de-motivating as you’re reminded each week how far away you still are. Setting goals too low isn’t motivating either because they don’t require you to push yourself.
Make sure to give yourself a relatively short timeline
Smaller income targets that you commit to reaching more often are much better than a singular big goal a year from now. Always be aware of the big goal, but make sure you hit your short term weekly and monthly goals along the way.
Don’t be afraid to revise your goals periodically
As you test new approaches to attracting clients, getting them to re-book more often, selling more gift certificates, adding staff, etc., you’ll be learning much along the way.
Don’t feel locked into your goals if you find that the assumptions you made in creating them are incorrect. Revise your goals up or down. It’s ok! Just be honest with yourself and make sure you’re revising your goals because of external factors, and not because you failed to do the work you were supposed to…
Celebrate the little victories
Building a massage therapy practice is hard work. Really hard. It’s easy to get stuck in the daily grind, even when things are going well. Use your weekly and monthly goals as short term finish lines and celebrate the times where you meet or exceed your goals.
Take a little pause and find a way to congratulate yourself. Take a friend out to dinner, buy yourself a little something to put in your office to remind you of your accomplishment – just make sure you do something. These little celebrations will help keep you motivated on you rjourney.
Just do it!
Use the Massage Therapist Income Calculator to help you understand how best to reach your income goals, then focus on putting the plan into action!
You’ll be amazed what having a clear goal and a focused plan can do to move you closer to your goals.
While you’re out there putting your plan into action, remember that you have friends here at MassageBook that love to seeing you doing well and are motivated to help you.
So don’t be a stranger – let us know if you’d like our help!
In shared success,
P.S. – You can find the Massage Therapist Income Calculator “here”.
- Author: Mark Volkmann
- Published: August 17, 2016