Something in the world of floating have you stumped?
Show Highlights
In this episode, Graham and Ashkahn succinctly breakdown the cost of float room construction. The average float room cost per the industry survey is $75,000 per room. How much of that is float tank cost and how much is construction? There are some variables to consider based on geography and types of tanks, but the guys lay out the average and clarify some of the numbers we’ve released previously.
Show Resources
Listen to Just the Audio
Transcription of this episode… (in case you prefer reading)
Graham: Today’s question is, “the state of the industry survey shows people spend about $75,000 per float room. How much of that is the tank cost versus construction cost?”
Ashkahn: Basically float tanks can range from probably around $10,000 at the cheapest for a commercial float tank.
Graham: Plus pump set up and all of that, yeah.
Ashkahn: Up to, I mean, they can get up to-
Graham: $90,000?
Ashkahn: Yeah, $90,000 dollars for a float tank.
Graham: So if you’re buying a $90,000 dollar float tank, then you’re now in negative money for room construction, negative $15,000. So, it depends a lot on what people are doing individually, and of course the survey itself is very subjective for what people are putting in there almost, so how people are defining everything that’s going into their room construction. It’s probably not 100% accurate even between individuals filling out the survey.
Ashkahn: But, I would say, if I had to make an average guess of how much people are spending on float tanks, it’s probably somewhere around $30,000 dollars a float tank. 30 – 35.
Graham: Which would be about $45,000 for doing the room construction, and I would say actually between maybe like $35,000 to $45,000 is not a crazy amount to assume for room construction. So not quite half and half, or half and half of the split that’s different for different people or something like that, depending on how much soundproofing largely you’re doing.
Ashkahn: Yeah, and we see that in general in terms of people’s cost total, float tank plus for rooms. It really does seem to range pretty much somewhere between $50,000 and $100,000 dollars for the whole shebang for a room. That was always kind of our calculations, and then seeing the industry report averaged that at about $75,000 kind of seems to support that.
So my guess is people on the higher end people are buying probably slightly more expensive float tanks and doing slightly more expensive construction, and at the lower end people are probably buying cheaper float tanks and doing cheaper construction.
Graham: Yeah, yeah, definitely. Again, there’s an, “Oh, yeah.” They’re like both how people are answering that question, and what you decide to do for your own center, and types of tanks, and whether you’re in the middle of a city or out in the countryside. All of these are going to affect how much is going into your individual build.
So, don’t assume that if you’re coming in a little under, if your ratio of tank to construction is different then the industry average that you’re somehow doing something wrong. It largely does have to do with how many tanks you’re installing at once, and how much crazy soundproofing you need to block out from city noises, and airplanes, and things like that.
Ashkahn: Yeah, you might just have less expensive construction if you’re way outside the city and you don’t have a ton of noise to deal with.
Graham: Yeah, just throw your float tank down a grassy hill somewhere-
Ashkahn: Yeah, call it good. Sprinkle some salt in the lake.
Graham: Sprinkle? I think it’d be a little more than that. This giant industrial dump operation puts Epsom salt or something into a lake.
So, if you have any more questions, go to floattanksolutions.com/podcast and we will answer them.
Recent Podcast Episodes
How to Handle Reopening? – DSP 310
If there’s one thing Ashkahn and Graham have learned, it’s reopening. Float On has had to shut down for repairs so many times over the years that they’ve got the process down to a science.
They share their secrets for making sure you have a full week after opening, build momentum, keep your members happy in the downtime and throw a kickin’ reopening party!
What Inspires your Marketing? – DSP 309
Graham and Ashkahn talk about what it’s like when inspiration strikes, how they chase their floaty muse to a solid marketing idea and form it into an actionable plan.
The reality is that it mostly involves a lot of listening and willingness to try, and fail at, new things. As with so many things, play to your strengths, focus on the things you’re passionate about and the rest is practice.
What’s Happening with the Float Conference Non-Profit – DSP 308
Ashkahn and Graham talk about how the Float Conference has been going since they handed off the reigns this year. Big decisions are still incoming, but there’s a lot of ways you can help out or get involved.
If you’d like to offer your help, services, or suggestions for the new Non-profit of the Float Conference, or if you’d just like updates to how it’s going and where it might be held next year, email conference@floathq.com, and the Conference will know to contact you.
VR in a Float Tank – DSP 307
While they haven’t tried it themselves, Ashkahn and Graham liberally distribute their opinions on the use of VR in float tanks and what they think might be better, using it before, after, or during a float.
How to do A/B Testing – DSP 306
A/B Testing is a method to compare one system against another. Most often, this is used to compare the performance of one version of a website to another in real time.
Graham and Ashkahn talk about A/B testing (or “the old onesie-twosies” as Ashkahn says) and how it can be used to improve a float center’s website.
Latest Blog Posts
I’ll Give you a Float Tuesday for a Massage Today: Floating & Bartering
Whoever said that you can’t get something for Nothing obviously never ran a float center. At Float On, we’ve used bartering as a creative means to meet a wide range of goals and needs. Even as I’m writing this, I’m sipping on coffee that we traded from a shop across...
Financing Your Float Center with Investors
In addition to an increase in bank loans, more and more float centers have been using investors in recent years to finance their operations. Every center’s earning potential varies greatly — but a well-run center with no surprise buildout costs (or re-buildout costs) can do very well for itself.
As a result, people with means (or general interest) are increasingly likely to consider having a financial stake in the float industry without the glorious headache of actually running a shop.
Float Conference Interview
In the midst of all of our blog writing and party planning, I sat down with Ashkahn Jahromi, cofounder of The Float Conference, Float On, and Float Tank Solutions with a few questions about the upcoming Float Conference aka #FloatCon for you social media savvy kids in Twitterland.
Take Part in the 2017 Float Industry Report
We’re gathering responses for our 2017 Industry Report through the end of June, and we once again need your help.
Please take a brief moment to answer a few questions about your float center (or future float center) – it may be easiest thing you can do to contribute to the growth of floatation around the world.
