Entrepreneur takes the plunge into floatation tank business
A Doncaster entrepreneur has launched South Yorkshire’s first floatation tank therapy and wellness centre, after securing funding from alternative lending provider Finance For Enterprise.
Peter Sullivan launched his own business just six weeks ago. The former graphic designer became an advocate of floatation therapy in a bid to help boost his creativity, but he began noticing other health benefits.
Floatation therapy was first developed in America in the 1950s. Today it is used for a range of purposes, from rehabilitation from sporting injuries to reducing stress and overcoming conditions such as insomnia, anxiety and depression.
With just 50 dedicated floatation centres across the UK, Sullivan spotted an opportunity to bring this to South Yorkshire.
Working with investment manager Gillian Pickard, he was able to secure a £25,000 Start Up Loan. It meant he could turn a former tile warehouse into “Thorne Wellness Centre.”
He is now planning to grow his fledgling company further by introducing fully accessible floatation facilities. He has also added a massage therapy suite and is hoping to add sauna facilities in the near future.
Sullivan said: “Although I’d run my own graphic design business in the past, I knew creating a floatation centre would be a very different business model, and one which would require additional funding.
“With the finance in place, I was able to put my plans into practice, and within a matter of weeks, the idea I’d been developing for nearly two years became a reality.
“Since then, I’ve not looked back. The business has built up a regular client base and I’m already looking at ways of adding new services.”
Pickard, investment manager at Finance For Enterprise, said: “For many aspiring business owners, accessing finance can present a significant challenge.
“Peter was acutely aware his business would need to secure suitable premises and invest in specialist equipment.
“Floatation therapy is still a relatively new concept in the UK, but demand for the service is growing, and with a clear plan to build and grow his business, I’m confident Peter’s business will have a bright future.”
Finance For Enterprise is a delivery partner of Start Up Loans UK, an initiative backed by the British Business Bank to help new entrepreneurs secure lending.
Since the Start Up Loans scheme was launched in 2012, the programme has helped more than 75,000 entrepreneurs to realise their ambitions. In Yorkshire and Humber, Start Up Loans UK has provided nearly £55m to over 6,300 businesses.
