Year of Inception: 2021 Annual Revenue: SGD $411k (2023) Annual Profit: SGD $107k (2023) Asking Price: SGD $380k (Full stake) Open to full stake / majority stake (70%)
Reason for selling: Retirement Money spent on renovation: $300k Number of masseur: 6 Rooms available: 7 massage rooms , 1 couple room and 2 foot reflexology room. Number of customers registered in the CRM system: 3,000+ Space: 2,000 sqft Monthly rental: $9,000 (3 years)
Fey Day presents a high growth massage spa business that is located in the central part of Singapore. It is spacious and the current owner has done an amazing job in creating an aesthetic and cosy environment for customers to relax. (Which means the new owner doesn't have to spend money and time on the full spa renovation works, which can typically take 8 to 12 weeks. Or CaseTrust application which may take another 4 to 8 weeks for new spa.)
The business started in 2021, and have been growing well over the 3 years. The number of customers has been increasing, and 60% of the sales come from returning customers. There are no direct competitors in the neighbourhood.
Getting license approval from URA and SPF can be tedious and challenging, hence this is an oppportunity to immediately hop into the spa business. Given that there are increasing demand and capacity in the current location, this means that the new owner can have plenty of growth opportunity in the next few years. They are currently using an IT system that provides integration and real time date.
These are various options that the new owner can do to grow the sales.
1. Sell massage packages to improve sales and cashflow 2. Provide TCM treatment which are insurance claimable. 3. Provide skincare and facial treatment 4. Sell pre-natal and post-natal massage for pregnant women 5. Sell infant massage. 6. Open more outlets using the existing retail outlet as prototype or use it as a franchise outlet. 7. Direct more resources and expertise on digital marketing 8. Hire more masseurs
Shareholders are willing to stay and support the handover transition.
Interested in this business? Please email mac@feyday.com today!
Business Operation
It is a 2,000 sqft shophouse in a nice neighbourhood. There are 7 massage rooms , 1 couple room and 2 foot reflexology room in this spa. It is spacious and the current owner has done an amazing job in creating an aesthetic, premium and cosy environment for customers to relax. (Which means the new owner doesn't have to spend money and time on the full spa renovation works, which can typically take 8 to 12 weeks. Or CaseTrust application which may take another 4 to 8 weeks for new spa.) Such renovation typically cost around $300k in the market. The monthly rental is $9,000 and has recently been extended for another 3 years.
Facilities
There are no direct competitors in the neighbourhood.
Competition
These are various options that the new owner can do to grow the business.
1. Sell massage packages to improve sales and cashflow 2. Provide TCM treatment which are insurance claimable. 3. Provide skincare and facial treatment 4. Sell pre-natal and post-natal massage for pregnant women 5. Sell infant massage. 6. Open more outlets using the existing retail outlet as prototype or use it as a franchise outlet. 7. Direct more resources and expertise on digital marketing 8. Hire more masseurs
Expansion Potential
Owners are willing to support during the handover. Transition should be fairly straightforward as the owners has automated significant part of the processes.
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