Massage therapy businesses are not the same. Discover the 7 most common models and choose the most ideal for you. Remember, you’ll market your massage therapy services based on your business model.
Here are the business models to evaluate. You may be planning or already in business and are looking forward to expanding the business.
(1) Sole proprietor massage therapy business
Choose this model if you’re looking to establish the most basic type of business.
In a sole proprietorship massage therapy business, only you own your business and are liable for its outcomes.
(2) Partnership massage business
If you’re getting into a business with a partner, then examine the different types of partnerships and choose an arrangement that works for you and your partner(s).
(3) Massage therapy Limited Liability Company (LLC)
An LLC incorporation provides you with limited liability for your business and the tax efficiencies adequate for a partnership business.
(4) Massage therapy business corporation
Corporation businesses need an intensive capital base. They are larger with multiple employees, more intricate, and more established.
(5) S Corporation (S Corp)
S Corp is a small business owners’ most tax-efficient option that helps them avoid double taxation. S Corporations are suited for domestic business. Owners report the company revenues as personal income.
(6) C Corporation
C Corporations pay their tax on their income and on whatever income employees or owners receive. There’s an unlimited company growth potential with flexible profit distribution and ownership options.
(7) Cooperative
Massage therapy businesses that are cooperatives work to address a common need or offer a service that rewards all owners of that kind of business.