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Hyperbaric chambers (below) are the most popular treatment. An hour’s session costs US$160

It has a homely feel and provides a place to socialise which is both temptation- and toxin-free

a projector for meetings. So in all, this new type of ‘third place’ is one that enables you to visit alone or with friends, to enjoy a health-boosting treatment, have some quiet time, perhaps do a little work and sip a kombucha and nibble a healthy snack.

BUSINESS MODEL

Remedy Place opened in December 2019 and offers a la carte treatments as well as a membership – and it only needs 200 members to break-even. COO Rhyce Lein says they were initially surprised by the amount of business (70 per cent) coming from the a la carte side, but he expects that to even out with membership in the next few months. He adds: “With our opening right before the holiday season, we had no time to launch marketing campaigns and partnerships, it was all just word-of-mouth and press.” The most popular therapy so far has been the hyperbaric chambers, where air pressure is three times higher than normal, meaning the lungs gather more oxygen to carry through the body. Lein believes these sessions are popular because they’re unique, and consumers have a recognition of their benefits which include strengthening the immune system, speeding up the healing process and encouraging the formation of new collagen and skin cells. A 60-minute session costs US$160

(€135, £122) and clients can bring their laptop or even take calls, or listen to guided meditation if they want to relax. IV drips offer ‘antidotes’ such as Morning After and Post-Workout, take up to 30 minutes and are priced from US$180 (€152, £137) to US$220 (€186, £168). A la carte prices start at US$45 (€38, £34) for a 10-minute cryotherapy. Monthly membership includes unlimited cryotherapy and classes, an IV drip, hyperbaric session, infrared sauna experience, ice bath class and lymphatic drainage massage, along with additional discounts for US$495 (€419, £378). Membership is month-to-month with no initiation or cancellation fees. Despite opening just a short time before COVID hit, Remedy Place was still set to break even in its third month. Lein puts this down to the business model which allowed it to open 12 hours a day, seven days a week, with only a staff of nine people. Further, as a result of the pandemic, it’s discovered it can do the same amount of revenue in 8 hours. The initial investment for equipment and buildout, at about US$1.7m (€1.4m, £1.3m), was funded by celebrity clients of Dr Leary, but the operating expenses are modest; Lein states that, apart from founders, payroll is well under 20 per cent. That’s a very compelling number!

Payroll is well under 20 per cent. That’s a very compelling number

spabusiness.com issue 3 2020 67

Profile for Leisure Media

Spa Business issue 3 2020  

Spa Business issue 3 2020