tlmassage said:
Maybe I am being naive, but I think that there are a lot of opportunities out there for MT's. $15/hour is ok but it doesn't equate to 40 hours/week in most situations.
I think R&R was using those numbers to show you the potential of someone making $15/hour FT, and what the increase could be with private clients on the side. There are some jobs that might pay $15/hour for 40 hours. That doesn't mean you are seeing 40 clients in a week. The 40 hours could include other duties as an employee of the business. (Just my interpretation of R&R's post)
There are lots of opportunities out there for MTs. But you need to weigh in factors that R&R and Jason mention. Because of expenses, at first, you may be making $15/hour or less. Let me show some numbers. There are obviously many variables involved. I just want to get you thinking ...
If currently you are working 30 hours per week, you are grossing $450/week; 1800/month; $22500/year (based on 50 weeks for time off). Of course this does not account for taxes being taken out.
In private practice at an hourly rate of $60/hour you would need to see 30 clients per month to match the $1800 from your current job. (Again no taxes removed.) Not bad, 8 clients per week; If you have the initial demand of 30 clients per month. But what if it's only 20 clients the first month or two?
20 clients @ $60/hour = $1200/month. Now you are making less and haven't even factored in expenses.
If your expenses average $1000/month:
20 clients = $200/month (before taxes)
30 clients = $800/month (before taxes)
To make the $1800/month that you are currently making, you would need to see 47 clients/month (about 12 per week). Again, 12 per week is a very easy work load. But how long will it be for you to get to 47 clients/month to equal what you are making now? And the 47 clients may fluctuate from month to month. Unlike the guaranteed $15/hour, $1800/month from the D.C.
Also factor in any benefits you get from the D.C.. Remember that your tax rate will be higher as self-employed (even after writing off expenses). And you will have all the added tasks associated with running your own business.
I am not trying to talk you out of anything. I am self-employed and love it. I had years of invaluable, fantastic training in customer service, management, and how to successfully run multi-million dollar stores with staff of up to 200 employees. My parents have run their own business since before I was born. My life experiences led me to be a successful self-employed therapist. But it's not for everyone. You need to consider all aspects of running your own business, because it all falls on your shoulders.
How quickly can you bring in a consistent 47 clients/month? And how quickly can you increase that to 60, 70, 80 clients per month to really bring in more than what you make now? As I previously mentioned, there are many variables you need to factor in ...
How much do you want to make? How much do you
have to make? How much are your monthly expenses, including taxes? How much can you charge per hour in your area for your services? Do you want to work alone? Etc, etc ... I could go on.
This turned out to be a more lengthy response than I intended. But, I went into private practice right out of school, and for about a year and a half made just over what my monthly expenses were. Then I took a job as a spa manager to have a more stable income and grow my skills and client base. (I was allowed to market to anyone I had seen at the spa if I ever left. A clause I negotiated based on my management experience.) After 2 years at the spa, I left to go back into private practice. It still has it's ups and downs. So, I'm advising you to just be prepared.
tlmassage said:
I really don't like the idea of giving 1/2 massages away as some of these marketers suggest.
I have used this marketing strategy. I still occasionally throw it back into the mix when I need a new inflow of clients or during slow months. The idea behind it is that if you are sitting around with time on your hands and no clients, why not get people in on your table to experience your work. There is also an aspect of the strategy that does get you income for that massage. While it's not your full fee, it is something for your time. And wouldn't you rather have the opportunity to have a new client on your table to impress and make a regular client (read as a $720/year potential) rather than sitting around with no work waiting for clients to find you?
It is an extreme strategy and doesn't work for everyone. But I have had success with it and will continue to use it to bring in new business until I am solidly booked a month or two in advance.
Wow that was lengthy. :shock: I hope it all makes sense as I have to run and can't re-read it right now. I look forward to more discussion.