A Spa, Skincare and Massage Destination in Philadelphia w/ Excellent Cash Flow
Price: $700,000
Location: Center City Philadelphia
Industry: Beauty and Personal Care
Listing ID: 12122023
Welcome to Philadelphia’s premier spa, skincare and massage destination located in the heart of Center City and just blocks away from Rittenhouse Square. They offer a wide variety of services including facials, massage, body treatments and hair removal services for men and women. They are best known for their specialty services and spa packages, which are offered at a variety of price points. Guests can choose from spa packages, thoughtfully curated by the staff / owners or they can custom create their own experience. A majority of their clients book multiple appointments on the same day.
Location! Location! Location! You simply will not find a better location for a spa in Center City. They have over a dozen hotels within a five-minute walk as well as the Philadelphia Convention Center, Mid-Town Village, The Franklin Institute, Penn Museum, The University of Pennsylvania (Penn), Drexel University, Temple University, The Ritz-Carlton Philadelphia and City Hall.
The spa currently has 8 treatment rooms, making them one of the only locations in Philadelphia that can accommodate larger group reservations. They strive to offer each guest the ultimate spa experience which has translated into consistent word-of-mouth referrals from happy customers and great online reviews.
Marketing savvy owners understand that the decision to book with them or another spa is all decided online. So, the current owners have developed a targeted marketing strategy using a variety of online tools constantly driving customers to their website appointment booking pages.
They have won local, national and international awards including:
• Philly Magazine Best of Philly Awards in 2010, 2014, 2015
• Spa of the Month Award in 2018
The current owners are looking to retire. They would be available to assist new owners for one month to ensure a seamless transition.
** This business has been qualified for a SBA loan.**
Listing Details
Gross Revenue: $1,200,000
Cash Flow: $340,000
FFE: $150,000 (Included in Price)
Inventory: $10,000
Lender Pre-Qualified?: Yes
Reason For Sale:
Owners would like to retire
Training & Support:
Owners will stay for one month to ensure a smooth transition
Operation
Year Established: 2007
Days & Hours of Operation: Tuesday 9 AM–8 PM Wednesday 9 AM–8 PM Thursday 9 AM–8 PM Friday 9 AM–8 PM Saturday 9 AM–6 PM Sunday 10 AM–6 PM Monday 9 AM–8 PM
Employees: 12
Location
Monthly Rent: $8550
Summary
Potential Growth:
Expansion Plans: The current location is open seven days a week and (especially during peak times) they are fully booked. With such a strong demand, the current owners had considered expansion plans, but for personal reasons the timing did not work out. Expansion plans could also involve a synergistic business such as a high-end hair salon or med spa to widen-client base.
Client Mix: They current owners have a proven track record of success in capturing new clients, especially those visiting Philadelphia for a special occasion or vacation. By adding a complimentary marketing strategy focused on increasing repeat clients and targeting local residents (especially those in the affluent Rittenhouse Square neighborhood) current sales could be expanded.
Social Media: There is currently no social media presence and no social media marketing or advertising. This is an opportunity for a new owner to build their own social audience.