Day spas and aesthetics centres under CSBFP
A day spa or full-service aesthetics centre combines massage, body treatments, facials, and hydrotherapy in a single facility. The capital profile is meaningfully different from a technology-driven wellness centre (float therapy, cryotherapy) or a medical aesthetics clinic (laser hair removal, injectables): the investment is spread across more treatment rooms with lower per-room equipment cost, and the leasehold investment centres on wet rooms, steam rooms, and high-finish décor.
A full-service day spa with 6 to 10 treatment rooms, a wet area (hydrotherapy tub or walk-in shower), and reception typically has $150,000 to $350,000 in capital costs, well within CSBFP’s $500,000 non-RP sub-limit.
Eligible CSBFP costs for spas
Massage and treatment tables (equipment)
- Electric hi-lo massage tables: Electrically adjustable height massage tables, $1,200 to $3,500 per table. A 6-room spa: $7,200 to $21,000 in massage tables.
- Heated massage tables: Tables with integrated heating element for hot stone or thermal body treatments, $1,500 to $4,500.
- Multi-function spa tables: Tables designed for wet body treatments (waterproof, with drainage channel), $3,000 to $8,000. Used in wet treatment rooms for mud wraps, seaweed wraps, and hydrotherapy.
- Facial chairs and aesthetics beds: Reclining aesthetics chair/bed for facial treatments, $800 to $2,500.
Facial and body treatment equipment (equipment)
- Multifunction facial treatment machine: Combined unit with microdermabrasion, ultrasound, galvanic, high-frequency, and LED modes (esthetic multi-function systems from Dermalogica, Biodroga, or professional brands), $3,000 to $12,000. A common starting point for a new spa.
- HydraFacial device: Patented vortex-fusion hydradermabrasion system, $15,000 to $22,000 (new). A premium add-on for upscale spas.
- LED photobiomodulation panel:Professional full-face or full-body LED red/near-infrared treatment panels, $2,500 to $10,000.
- Hot stone warmer and massage tools:Professional hot stone warmer, stone set, and accessories, $500 to $1,500.
- Steamer: Professional facial steamer, $400 to $1,200 per unit.
- Paraffin wax bath: For hand and foot treatments, $200 to $600.
Hydrotherapy equipment
- Hydrotherapy tub (Vichy shower or soaking tub): A Vichy shower (multi-nozzle overhead shower for body treatment rinse), $8,000 to $20,000 installed. A deep soaking tub for hydrotherapy treatments, $3,000 to $12,000.
- Wet treatment table with spray bar:A fully equipped wet treatment room table with integrated spray bar, heated surface, and drainage, $8,000 to $18,000.
Leasehold improvements
- Treatment room construction: Individual treatment rooms (100 to 150 sq ft), with dimming lighting, sound system speaker, dedicated HVAC zone, and high-end finishes, $8,000 to $18,000 per room. A 6-room spa: $48,000 to $108,000.
- Wet room and shower construction:A wet treatment room with waterproof membrane, floor drain, heated floor, and wet-rated walls, $15,000 to $40,000. Includes Vichy shower rough-in if applicable.
- Steam room or steam shower: A purpose-built steam room with steam generator, waterproof tile, and ventilation, $15,000 to $35,000.
- Reception and retail area: Reception desk, product retail display, waiting lounge with calming décor, $20,000 to $45,000. A spa’s reception area is a major brand statement.
- Change rooms and lockers: For full-day spa formats with robes and lockers, $20,000 to $40,000.
- Relaxation lounge: Pre-treatment and post-treatment waiting area with heated loungers or rest pods, $15,000 to $30,000 for a well-appointed lounge.
Spa management software (intangibles)
- Booking, retail, and membership platform:Spa management software (Mindbody, Vagaro, Booker, Spa Booker), $2,000 to $6,000 in setup costs. Eligible under the $150,000 intangibles sub-limit.
Revenue model: per-treatment billing
- Massage therapy (60 min): $90 to $140. A treatment room running 7 sessions/day, 280 days/year: $176,400 to $274,400 annual gross per room.
- Signature facial (60 to 90 min): $120 to $200.
- Body treatments (90 min): $140 to $220.
- Membership programs: Many day spas sell monthly membership packages (e.g., one massage or facial per month for $85 to $120/month), recurring revenue that improves DSCR stability and occupancy predictability.
- Retail product sales: Skincare products carried at the spa, typically 15 to 25% of service revenue for a product-forward spa.
A worked example: 6-treatment-room day spa
A licensed massage therapist with 10 years of clinical experience opens a day spa combining massage, facials, and body treatments (2,400 sq ft, 5-year lease + 2 × 5-year renewals):
- 6 electric hi-lo massage/treatment tables: $15,000
- Multifunction facial machine × 2: $16,000
- HydraFacial device: $18,000
- Hot stone equipment: $2,000
- Treatment room leasehold (6 rooms): $72,000
- Wet room with Vichy shower: $32,000
- Reception and retail area: $30,000
- Relaxation lounge: $20,000
- Spa management software (intangibles): $4,000
- Total: $209,000
Equity injection: $28,000 (approximately 13%). CSBFP loan: $181,000. Software under intangibles sub-limit ✓. Total non-RP: $209,000, inside the $500,000 sub-limit ✓. Lease 15 years total ✓.
Year 2 projections: 6 treatment rooms at 6 sessions/day each, 280 days, blended average $115/treatment. Annual gross: $1,159,200. After therapist wages (5 contractors at 55% commission + 1 room owner-operated), rent, supplies, and retail COGS: EBITDA approximately $132,000. Annual debt service (CSBFP loan at 7.95%, 10-year amortization): approximately $26,400. DSCR: 5.0x ✓.