Radi8 Float Studio | Application Preview
Radi8 Float Studio is seeking government grants to support their operations and enhance their services. They require funding for payroll, rent, and essential equipment, totaling $14,700 over two months. This includes $8,000 for payroll, $3,000 monthly for rent, and $1,000 for a new pump and audio equipment.
The business anticipates that bringing additional equipment online will allow for a 25% increase in service capacity, potentially generating up to $140,000 in revenue. Radi8 Float Studio emphasizes their role in promoting community health through stress relief and pain management, claiming that the funding would enable them to employ eight people, including three students who rely on their jobs.
In terms of competition, Radi8 faces rivals like Isolate in Boulder and Samana Float Center in Denver, both of which have four float rooms. However, they believe their unique location and superior customer service set them apart. The studio boasts excellent reviews, offers educational resources about float therapy, and actively supports local initiatives by donating services to firefighters. Overall, they assert that their business is well-positioned to provide valuable wellness services to the community.
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General Information
Business Registration Number: 822871062
Location: Thornton, CO, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
We have 4k monthly in payroll, 3k in rent as well as needing a $700 new pump and $300 of audio equiptment . 4K (August) 4K (September) _______________ $8,000 Payroll(August |September) $700 new pump $3,000 Rent August $3,000 Rent September Total: $14700.00
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Business Plan
I have a new part for a float tank being delivered anyway. if i can bring this equipment online I will be able to increase my service by 1/4! This will allow a maximum potential of $140,000 in business. I believe my service offers the community a healthy way of relieving pain, inflammation, and relieving stress. Investors would impact my business in a profound way and would help 8 people keep working. 3 of my employees are students and this would also hello them maintain employment.
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Self Identified Competition
In Boulder, the other sensory deprivation spa is called Isolate. They have 4 float rooms ( I am currently at 3 and trying to get the 4th tank organized and running) and are located in South Boulder. In Denver, Samana Float Center has 4 rooms total in the Denver area as well and are booked out for 3 weeks. My business is unique in location and staff! Just take a look at our reviews! We have wonderful reviews and take care of new customers in a better way. We also have a massage therapist on Mondays. We do teach people about float therapy and encourage our customers to walk to local restaurants. We donate services monthly to our local firefighters as well. We feel that we are the best fit for people to learn about meditation and floating.
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Contact Applicant
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