Something in the world of floating have you stumped?
Show Highlights
It gets a little tricky sometimes starting an alternative wellness business. Should you offer other services? Should you only have float tanks? Which situation is right for you. Fortunately, you can listen to this episode and get some insight into this exact conversation.
Listen to Just the Audio
Transcription of this episode… (in case you prefer reading)
Graham: Today’s question is, “Would you say that most float centers can be profitable stand-alone operations, or do they work best when paired up with other services? Massage, chiropractics, spa, etc.”
Ashkahn: So.
Graham: So the first part is would we say that?
Ashkahn: Would we say that? Okay.
Graham: I probably wouldn’t say that. Wait, what was the question again?
Ashkahn: You wouldn’t say float tanks work-
Graham: They can. Sorry I got distracted by the massage. I would say that they work either way.
Ashkahn: I would hope so. Because we run a float center, that doesn’t have any other services. So if you didn’t think that could work, we’re in some trouble.
Graham: Yep. So I would say there’s probably a couple of caveats to that. Like, number of tanks that you have and whether or not you want to get out of the business, or you’re running this more as a lifestyle-type of thing and want to be working your business, right?
Ashkahn: Yeah. I feel like anything can work if you care about it. You know, if you’re really into massage and you’re really into acupuncture, and you’re into floating, and you’re willing to put in the time to do all that stuff well, that can work.
If you’re really into float tanks and you don’t know anything about massage, and you’re like maybe I should just throw a massage thing in there too because that makes sense, I feel like that’s one of the variables that leads to success or failure more than the idea of a float center with multiple services or a single service.
Graham: Anything can not work, is what you’re saying?
Ashkahn: Anything can not work, and anything can work. I think you just have to be interested in doing it and be passionate about it.
Graham: I think, once you get above three float tanks, as a stand-alone center, that works a little better in my opinion. Especially when you get down to under three float tanks, you’re talking about one or two tanks, there’s no other services, that’s all you’re doing is one or two float tanks.
Ashkahn: Yeah.
Graham: I usually warn people against that. I feel like that’s the danger zone.
Ashkahn: It can be tough. It can just be hard to make enough money to-
Graham: I mean, at that point it feels like just having a float tank in your house and sharing it with people.
Ashkahn: Right, like you’re not going to be able to hire people. You’re working that kind of business yourself.
Graham: Yeah. So, that’s the time where I would say, again, it’s the danger zone. Not to say that it couldn’t work, if you can book that thing up with people paying $150 per float, then you can totally run a profitable business with a single float tank. But it’s gonna be way harder.
And that is where I see massage and chiropractics, specifically from the financial standpoint, being able to come in and balance that and their other services. If your passion is other stuff, and you just want to have a float tank or two to make it available to people, that’s when you should have one or two float tanks.
Ashkahn: Yeah, and I guess usually the worst float tanks I see out there, commercially operated, are by a place that has a big spa with a bunch of different services, and they have one float tank-
Graham: Yeah.
Ashkahn: And they generally don’t know much about it, the staff doesn’t know exactly how to clean it, maintain it, operate it, that sort of stuff. I’ve definitely been to a couple of spas where they have a whole number of devices, and this seemed like one of the other things. They’re like oh, cool, I’ll buy this float tank and put it in-
Graham: And not realizing how completely insane that proposition was, yeah.
Ashkahn: Yeah, maybe there are other devices out there that are easier to handle and they really are just set it and forget it kind of things. But a float tank is not like that. And that’s probably, of all the places I’ve gone to float around the world, those are the worst float centers I’ve seen. Places where it’s just one of a number of services and they clearly haven’t put a lot of time and effort into understanding it and properly taking care of it.
So, it goes both directions as well. But those people probably aren’t listening to this podcast either, so we can’t quite reach them.
Graham: If you get up to the point where you have four or five float tanks and you’re wondering if four, five, six float tanks with the whole wing of massage and additional services versus just those float tanks is going to be more successful? I don’t think there’s any way to tell. I think both are just as likely to succeed as each other.
Ashkahn: Yeah. But, I mean it’s certainly possible to run a center with just float tanks. We do it, there’s another handful of places around North America and the world that do just that.
Graham: A fair amount, actually.
Ashkahn: Yeah.
Graham: There’s a lot of float centers out there, that’s all they do. Designated floating.
Alight, good question.
Ashkahn: Great. If you have other questions out there you can hop onto floattanksolutions.com/podcast and that’s it for today. Talk to you tomorrow.
Recent Podcast Episodes
Doing Float Center Construction Yourself – DSP 75
Construction and buildout are likely going to be some of the largest expenses for any float center. Possibly even more than the float tanks themselves in some situations. Most float center owners aren’t millionaires, and when faced with these large expenditures, it can be difficult to decide what to cut to keep your costs down. Doing your own construction can be an effective way to go about that, but with so much technical work needed to go into building a float center, is that really the right thing to do?
Graham and Ashkahn lay down some knowledge on this, having both worked on a lot of their buildout themselves initially, as well as hired out workers for repairs and upgrades.
Is print/TV/radio advertising dead? – DSP 74
Marketing is a big gamble for any industry. You have to invest in a strategy on a platform and just hope that it pays off. It’s certainly one of the most essential investments for your business, but how do you know what will work and what won’t? This problem seems especially aggravated for float centers. Whatever marketing you do needs to tell people more than just that you exist, it also needs to explain what floating is and why people need it. How do you overcome these hurdles? And are traditional mediums even viable?
How to reach out to wellness professionals – DSP 73
Getting together with other wellness businesses seems like a slam dunk for float centers. Or at least it should be. Floating seems to have a special sort of synergy with things like yoga, massage, acupuncture, or what have you, but that doesn’t always mean that other wellness practitioners are going to be your greatest advocates. How do you turn that acupuncturist across the street into your biggest advocate?
Graham and Ashkahn have tried it all and worked closely with tons of businesses in joint marketing ventures as well as referral programs. They share what has worked best for them, and some of the surprises they’ve found with stuff they thought would work that just totally didn’t.
How do you prioritize what to work on in your center? – DSP 72
It’s human nature to suck at planning. we can’t help having inefficient mental systems for establishing the importance of a project when we’re working on it. This problem can be especially bad for float centers too, given that certain projects, if not addressed quickly, can dramatically become exponentially worse, like with salt damage.
Graham and Ashkahn face these exact same problems when they undertake any project, but still manage to find ways to be productive. In this episode, they share some of their tips as well as personal philosophies on work. Plus, Ashkahn’s strong desire to have a waterslide.
What do you put in your email newsletter? – DSP 71
If you’re running a float center, you definitely have a newsletter. Right? If you don’t, then you should. Most businesses these days have them. Establishing a newsletter can be a daunting undertaking if you’re unfamiliar with the process. What goes in a newsletter? How frequent is too frequent to send it out? Who are you sending it to?
Graham and Ashkahn dole out some wisdom on the importance of this correspondence method. Give it a listen.
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