How much is a deprivation tank
Financial Returns
How Much is a sensory deprivation tank
The question on everybody’s mind, “How much is a Sensory Deprivation Tank?” and to answer it simply £25k-£35k. At Exo Float, we understand the importance of profitability in your business venture. To help you make an informed decision on whether starting a sensory deprivation tank business is right for you, this page provides comprehensive information that answers the most pressing questions on your mind.
How do i charge for a float sesison
Float sessions are typically charged between £40 to £75 per one-hour session in the UK and $45 to $95 in the United States. Having a high initial rate allows for greater flexibility on discounts, memberships, and group bookings.
The Exo Software allows you to vary a sessions’ length, giving you more flexibility in the prices and sessions you offer. These sessions start from as short as 30 minutes and can continue for more than 3 hours, helping you meet all your customers’ needs.
Opening a New float centre
As with any new business venture, understanding start-up costs is crucial when it comes to calculating what sort of return on your investment (ROI) you can expect. Below, we’ll be taking a look at features you’ll need to factor in when considering float centre start-up and build out requirements. We’ll also be drawing up some rough estimates as to what you might expect to spend, along with projected profits in your opening years.
The great news is that, once your float centre is up and running, maintenance costs are pretty low and profitability is pretty high. With a steady streams of customers, you’ll likely see a healthy return on your initial investment within the first eighteen months.
Starting a Small Float Centre
Assumptions: Suggested minimum of 2 Exo Float Tank’s used, purchased outright, float rooms needed to be build from the ground up, staffed by owner & part time receptionist, open 6 days a week for 10hrs a day with 60% occupancy charging ~£60/hr float.
|
Projected Budget For First Two Years
|
Value
|
|---|---|
|
Potential Income
|
£300,000+
|
|
Potential Costs
|
£220,000~
|
|
Potential Profit
|
£80,000+
|
Starting a Medium Float Centre
Assumptions: Suggested minimum of 3 Exo Float Tank’s used, leased over 5 years then owned, float rooms needed to be built from the ground up, staffed by owner & part time receptionist, open 6 days a week for 10 hours a day with 60% occupancy charging ~£60/hr float.
|
Projected Budget For First Two Years
|
Value
|
|---|---|
|
Potential Income
|
£550,000+
|
|
Potential Costs
|
£255,000~
|
|
Potential Profit
|
£295,000+
|
Starting a Large Float Centre
Assumptions: Suggested minimum of 6 Exo Float Tank’s used, purchased outright, float rooms needed to be built from the ground up, staffed by two full time staff & part time receptionist, open 6 days a week for 12 hours a day with 70% occupancy charging ~£60/hr float.
|
Projected Budget For First Two Years
|
Value
|
|---|---|
|
Potential Income
|
£1,250,000+
|
|
Potential Costs
|
£590,000~
|
|
Potential Profit
|
£660,000+
|
Adding Float therapy to a gym or spa
Many spas and gyms find that adding a sensory deprivation tank to their menu of services proves to be a popular and profitable expansion of the business. Compared to opening a whole new float center, investment costs will be smaller and returns on that investment should come faster. As a pre-existing business, you may already have much of the infrastructure, space, and customer base needed to make the transition to offering sensory deprivation tanks as seamless as possible. Float therapy also complements other forms of wellbeing treatment, such as massage, yoga, and exercise classes, exceptionally well.
Preparation & Planning
There’s plenty to think about when it comes to starting your new sensory deprivation tank venture, but good planning goes a long way. Here are some of the things you’ll want to factor in when calculating the required investment.
Location
For those looking to set up a brand-new centre, deposits, rent, and site fees for your chosen spot are going to vary wildly depending on location. This is where good local research comes into play.
Starting a float centre in a central urban area may provide you with more footfall, but the lease is likely to be much higher. Instead, you might find an accessible neighbourhood with a strong health and wellbeing scene, one which doesn’t command the highest commercial rates in town. Generally, people who want to benefit from floating are willing to travel to the facility.
Staffing
Even if you have existing staff, you’ll need to provide a basic level of training to ensure cleaning, maintenance, and supervision is carried out confidently and safely.
Many successful float therapy centres pride themselves on being able to provide exceptional customer experiences from the front door all the way to the float. Providing a relaxing, welcoming pre- and post-float environment is as much about great staff training as it is the ambiance of your centre.
Economies of Scale
Although it’s possible to turn a profit with a single float tank especially if it is installed in a facility that already offers other therapies and treatments. Experience from across the industry indicates that, given the overheads associated with a dedicated location, the running costs do not increase significantly if you were to operate three or four Exo Float Tanks. Staffing levels for such facilities also do not increase significantly (learn about our UI here) Whilst the income generated from multiple deprivation tank does increase significantly. It can also have an impact on the popularity of the centre and capacity rates.
Of course, if you’re adding float tanks to a pre-existing gym or spa, then these economies of scale are not as applicable.
Funding
Once you have found a suitable location it is possible to put together a plan for what capital you will require. It may not be possible to be very specific at the start however the capital outlay and building costs can be significant. It can save a lot of time and wasted effort to know what budget you have available before deciding on the size and type of facility that you wish to build. Often securing the funds can be the longest part of the project.
Build Out
The level of technology required to build a successful float center or float room is quite straight forward and within the capability of most builders/constructions’ teams. With advice straight from us, it is relatively easy to create the right atmosphere for your clients. This can include ensuring that heating, ventilation and air conditioning is installed, along with appropriate water and soundproofing in each float tank room.
Float therapy customers will need to have access to a shower which should be placed within the float rooms themselves. When it comes to designing the layout it is often more space efficient if possible to create a separate plant room for reservoirs and filtration systems, although not necessary. The components that would be in the plant room (Reservoir and Pump) can be dressed up/disguised if they do end up in the same room as the deprivation tank.
Depending on the number of sensory deprivation tanks installed initially, it can pay to plan for additional rooms for expansion at a later date to achieve the minimum of disruption should you decide to install additional deprivation tanks.
Roads to ROI
Let’s think about a few possible scenarios. Start-up costs here are estimates. They can vary depending on a number of factors, not least of all your facility costs,
The scenarios below are for a centre operating 12 hours a day, 6 days a week, with each tank enjoying around 50% occupancy, £50 per hour. Cleaning times and transitions between customers have been factored in.
Marketing
Whether you’re adding deprivation tanks to a list of services already provided, or setting up a brand new float centre, the success of your venture in its initial months will likely rest on getting the word out to the right people. Float therapy has been around for over 50 years and is medically proven to offer benefits for people with conditions ranging from, Stress, Anxiety, difficulty sleeping, MS, Parkinson’s, Sport injuries, Fibromyalgia, easing the strains on the body from pregnancy, and many more. There is however a lack of awareness by the general public that such therapy exists. This is improving as a result of Covid and social media.
The first priority for the success of your facility is letting people know where you are located and what you are offering that will make their quality of their life better.
With build-out costs, initial ground rent, and staffing fees all vying for financial attention, marketing can be the area that new business owners try to cut corners on. If you are investing in a new venture, it’s worth going the extra mile and making sure all these efforts are accompanied by a worthy marketing campaign. Look into our Buying process plans where we provide business assistance, including marketing!
Sensory Deprivation Tanks
It wouldn’t be a float therapy center without the deprivation tanks. Our Exo sensory deprivation tanks are not only top-of-the-line but also are affordable. We also offer a professional installation package to ensure each tank is delivered, fitted and functioning optimally. The Exo Float Tank is also internet aware so should you need assistance we are able to connect to your deprivation tank anywhere in the world and advise you on how to improve your offering.
Calculating Profitability
Why not use our own financial returns calculator to see how varying the number of Exo Float Tanks and hours of operation corresponds to potential profits?
Disclaimer: The blog above is intended as a guide-only, not as a substitute for formal financial advice. There can be many factors that can affect the profitability of a float centre, as there are with any business venture.
How Exo Can Help
With our experience providing Sensory Deprivation Tanks to our customers, we’ve built up a tremendous amount of expertise and knowledge on how best to setup and run business incorporating sensory deprivation tanks that we are more than happy to share with the customers of our deprivation tank.
We offer advice on all aspects of float therapy and our Exo Float Tanks. From the design and floorplan layouts to a total fit-out and final details, we can help you with all of your float centers’ build questions.
Our support website is open 24/7 for all clients. We also have a support helpline for more complex inquiries for your convenience and peace of mind.