A hot tub, plunge pool, massage, and a Zen atmosphere — those tend to be the things in our heads when we’re so overwhelmed and stressed from work. We can’t help but daydream about a good session at a spa, where we are served like royalty.
If you can feel the people’s struggles and relate with their woes, a private spa may be the perfect business idea for you.
The costs of building such a business, however, can be another source of stress. But once it’s done and ready to accept guests, all the money and hard work you’ve put in will be totally worth it.
For starters, these are the costs you have to anticipate:
Generally speaking, finished construction will likely cost $90 to $130 per square foot. So if you’re building on a 2,500-square foot (ca. 232 m²) space, you’ll garner $225,000 to $325,000.
But that depends on other factors, too, such as whether you’ll rent a land, buy an existing spa or building, or build from scratch.
Buying an existing building will definitely cost you less, but if it will need a major renovation, it may end up just as pricey as building from scratch. In addition, you have to factor in labor costs.
Furniture and Equipment
The costs of your spa’s furniture and equipment depend on the services you’ll offer. For starters, a lounge area, office equipment, basic treatment tables, facial machines, technician chairs, and other treatment tools will be needed. If you’re considering medical-grade services or equipment-specific treatments, then you’ll be spending more.
Some spas also come with a laundry area. Your staff and guests will likely need a kitchen, too, so a refrigerator will be a necessity. A dishwasher may come in handy as well.
This would be your hot tub and pool. For the hot tub, it depends on the type you’ll build, the size, and the materials you’ll use. Above-ground hot tub installation can cost around $320 to $17,000. Built-in hot tub installation, on the other hand, can cost between $15,000 to $20,000.
Wooden hot tubs, the most commonly used in spas, can cost anywhere from $4,000 to $10,000.
If you want a more durable type, consider an acrylic hot tub. It’s the most expensive one, however, with its cost ranging from $11,000 to $16,000.
The most budget-friendly choice would be a soft-side inflatable hot tub. It will only cost you around $500 or less. But of course, since your spa will be a business, this type may not be a good choice. It may not be as appealing as well, so just settle for either wooden or acrylic.
For your pool, you’ll most likely opt for a cocktail pool (a.k.a. spool or plunge pool), since it will be a private spa. This can cost around $5,500 to $50,000, including labor. But other factors, such as the material, can rack up the costs. A concrete or gunite pool, for instance, is priced $23,000 on average.
Note the maintenance costs as well. The water quality of your hot tubs and pools are extremely vital for your business. An excellent way to be water-efficient is adopting a swimming pool water recycling system. It helps keep your waters clean and safe, without being wasteful.
The other costs you’ll incur include licensing and training, permits, and staff. Technology may also be a necessity, since almost all businesses these days use the cloud.
And once your private spa is up and running, you’ll continually generate operating costs. Hence, it’s extremely crucial to plan your business thoroughly. Choose a strategic location, be sure your facility is always clean, with superb privacy. And of course, market your business to the right audience. You’ll enjoy a high ROI if you provide your market with what they want and need.