Something in the world of floating have you stumped?
Show Highlights
The Question: Will the home tank market and its low prices affect the commercial float industry negatively?
Our Answer: We don’t think so! In fact, home tanks increase the visibility of our industry.
Tune in to this short Daily Solutions Podcast, or read the text below if you’re at work and you need it to make it look like you’re doing important stuff.
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Transcription of this episode… (in case you prefer reading)
Graham: So today’s question is, How does the invention of low cost in home float tanks affect the viability of starting and running a float tank center?
Ashkahn: I think it’s probably not going to have much of an impact, or maybe a positive impact if anything.
Graham: Yeah, that’s my feeling very much as well. I don’t think that you’re losing a lot of your most regular customers or anything, even to having a float tank in home.
Ashkahn: Yeah. I mean like, if you have a float tank center by this point, you know how hard it is to have a float tank setup somewhere. It’s crazy. The amount of salt, the amount of maintenance, all that sort of stuff. Hopefully that stuff will get better over time, but it’s still going to be a lot of people who prefer to go to a float center than to have the space for one in their home, or the cost of one in their home, or the maintenance of one in their home.
For the people who do have one in their home, to me that’s just like a huge point of conversation. Any time anybody goes over to that person’s house, they’re going to be like wait what is that, and that’s just that many more people that know about float tanks. I don’t know, I could be wrong, but I’d be surprised if that like took down the industry, because everyone started buying float tanks for their houses.
Graham: At the point that you’re floating less than once every couple weeks, or once a month, or so. If your thing is you like to hop in a float tank once a month, or once every two months it still probably doesn’t make sense for you to have a float tank in your home necessarily. Right? So there’s this whole market of people who are not coming in incredibly regularly, who just for no other reason than financial viability won’t go down that route.
Ashkahn: Time will really tell what ends up happening, but I don’t know that’s my personal hunch is that it probably won’t have to much of an impact.
Graham: In a similar sense that public pools and stuff aren’t destroyed by people having private pools in their house, or places where gyms where people can go and go into a sauna or a hot tub, aren’t destroyed by people able to have personal home gyms, or saunas, or hot tubs at their house.
It’s just there will of course be people who want that privacy, and want to take advantage of it. I think though there’s always going to be a broader group of people who are just not that regular users who would want to go to a center, and even having people take care of you. Not having to clean up after yourself is another big thing that I think drives some people in when they just want to be pampered.
Ashkahn: Yeah, definitely or just kind of everything about the amount of space it takes. I mean there’s some float tanks out there that are trying to fix that issue for people’s homes. Make them more space wise I guess.
Graham: I guess here’s what I’m trying to say, is I don’t feel like they’re competing markets. Like I feel like there’s a huge benefit to having a float tank in your home, and there’s a whole group of people who’s stoked about it, and that number of people is growing. I think that also the people who are excited to go into a float center and go float, of course there’s some overlap because floating is involved, but I think fundamentally they’re just two totally different markets growing in two very different directions, but both growing right now. I don’t see that much competition between them.
So, like we always say, take a walk or you’ll never know what’s out there!
Recent Podcast Episodes
How Best to Heat Your Float Tank – DSP 180
In this episode, Graham and Ashkahn break down the pros and cons (not Kahns) of different types of heating typically used in float tanks. Aside from going over the most common types of heating, they also provide tips and tricks for keeping your tanks warm that don’t have to do with water temperature and making sure you’re providing a comfortable experience for your customers.
Tips on Managing Staff – DSP 179
Float On, for all its quirks, has ended up being very traditionally structured as a business. There are managers, co-managers, and employees who all have different responsibilities and commitments. Graham and Ashkahn break down how they came to structure the company this way, despite aggressively fighting against that mentality of a corporate, top down structure.
What’s the Difference Between Loans and Investments? – DSP 178
The financial cost to opening a float center is huge at the startup, given the high ticket cost of float tanks themselves, as well as the expensive technical construction that comes along with making your rooms sound/water/saltproof. It’s rare for a float center to open entirely self financed, so what are the best options for getting funding? Loans versus investments.
Graham and Ashkahn break down the differences in these two approaches weigh the pros and cons to both for float centers.
What About Vertical Float Tanks? – DSP 177
So for those of us who’ve wanted to float in a vertical tank ever since seeing Luke Skywaker use one in Empire Strikes Back, Graham and Ashkahn dish out what they know about vertical float tanks.
Fortunately, another one of Float On’s owners, Christopher Messer, actually makes vertical float tanks, so the guys have the inside scoop on all things vertical.
What Would Utilities be for a Float Tank Center in Maine? – DSP 176
If you wanna stump the Float On boys, you have to try harder than asking about the cost of utilities for a float center in Maine. They tackled this episode prepared and take the rare opportunity to show specific numbers for utility usage at Float On and what that breakdown would look like in Maine, with help from special guest Jake Marty.
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