Updated: Apr 21
The founders with their experience in Spa Products and Services were looking to launch an On-demand spa service based out of Atlanta, USA. The company aims to provide a seamless spa experience for customers. The clients were looking for market research, financial projection and a pitch deck for their startup.
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About the Founders
One of the two female founders had a 4 YR tenure, helping clients select spa products that best fit their personal needs, directed strategic and brand-appropriate marketing initiatives to improve presentation and maximize sales while the other founder has extensive management experience and customer knowledge. She has provided on-location services for henna, makeup, and hair for over 4 years.
Blockseed’s Approach and Solution
Blockseed conducted market research to study the overall market of the spa industry. The study was focused to get a detailed outlook about the opportunities and the challenges faced by spa services.
Based on the founder’s requirements and the findings of the market size and growth, financial projection was analyzed. Special attention was also given to ascertain the TAM, SAM, and SOM.
In the end, Market Research and Financial Modeling were used to compile pitch deck for the company.
ON-DEMAND SPA SERVICES MARKET RESEARCH
Growth projections of the spa market stand at a CAGR of 5.7% from 2018 to 2023 while the market size is projected to reach $154.6 billion by 2022. The major drivers of the market were attributed to increasing focus on health and beauty as well as rising expenditure on luxuries.
The success of any startup largely depends upon understanding the competitive landscape of the industry.
For the benefit of the client the competitive landscape was segmented into four categories viz. Corporate partners, Day and Hotel Spas, On-demand spa service providers, and Top Target Market.
It is estimated that in 2018, there were 190 million visits to U.S. spas. The figure stood at 187 million in 2017, three million more than in 2016 which itself had an increase of five million in comparison to 2015.
Top Factors Impacting the Spa Services Market
Innovative marketing strategies
Players operating in the market have consistently adopted innovative marketing strategies in order to gain a competitive advantage. Companies have regularly involved themselves in promoting spa services not only amongst higher income groups but also in middle-income groups through adjusting their pricing policies.
Lack of trained personnel
The spa services market is restrained by the lack of presence of skilled labor. Moreover, spas have to incur a huge cost in order to employ well-trained therapists. Owing to rising competition in the market, spa owners have started to invest in spa education such as on the job training programs of international standards for better service.
The draft of the above findings were shared with the client and based on their input, pitch deck was compiled
Structure of Business Document: Investor Pitch Presentation / Deck
Visit / Footfall Analysis
TAM, SAM & SOM Analysis
Financials & Ask
Book your pitch deck samples now at www.blockseed.co.