catherine teodorescu
Needham, MA (USA)
Role(s):
Founder/Owner/Principal
Lotus Mind + Body Spa
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Startup
Location:
Needham
Industry:
Hospitality
Year Founded:
2007
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
"S" Corporation
Description:
I own Lotus Mind + Body Spa in Needham, Ma which was formed in 2007. I have built a lifestyle brand and put in place a membership system in 2010 in response to the market crash, that has been the catalyst of our double digit growth. We have enjoyed 13-15% net margins during the past two years and believe that we have a system in place that is recession proof and better received than that of our competitors (i.e., Massage Envy). We are now in our next stage of growth towards a US national and international franchise concept with a working model contemplating a smaller footprint that would generate between 29 to 50% net margins (after franchise fees), while running at low to medium capacity with very few employees.
Our hope is to secure an interested partner who would help fund us in the early stages and participate in the equity of prospective franchisees. Because our model appears more attractive than our competitor Massage Envy, it is very reasonable to anticipate explosive growth of franchise sales. In addition, we also present multiple revenue sources which addresses the peaks and valleys in the industry.
The funding size I seek is $130K to enable us to create the parent franchise company and all the documentation so we are able to sell individual units.
Lotus has nearly 12,000 clients who continue to enjoy their benefits, many of who have asked me repeatedly if Lotus has other branches in the US so they can continue to take advantage of their membership benefits while they travel.