Business Feasibility Analysis of a Reflexology Massage Service in South Tangerang

Abstract

This research aimed to analyze the feasibility of establishing a reflexology service business in South Tangerang. A feasibility study was conducted to assess business prospects before investment realization through analyses of market and marketing, technical and operational, management and human resources, legal, and financial aspects. The research employed a qualitative descriptive method, with data collected through literature reviews and observations. The proposed business was planned to be located in the Ruko U Town Bintaro Jaya area, South Tangerang, targeting middle- to upper-class consumers, particularly workers and residents in the Pondok Aren to Ciputat areas. From an operational perspective, the business was planned to provide eight massage rooms with service capacity adjusted to treatment duration and operating hours. In terms of human resources, the business required personnel for management, marketing and finance, reflexology services, and cleaning, with therapists holding relevant certifications. The financial analysis was conducted through investment projections, operating costs, revenue estimates, and cash flow analysis, using the Payback Period (PP), Net Present Value (NPV), Internal Rate of Return (IRR), and Profitability Index (PI) as investment feasibility criteria. The results indicated that the business had a Payback Period of 1 year and 2 months, an NPV of IDR 2,790,301,200, an IRR of 88%, and a PI of 6.72. All financial indicators met the feasibility criteria, indicating that the proposed reflexology service business in South Tangerang was feasible for implementation.