October 7, 2002,
Fort Collins, CO –The Spa Association (SPAA) has just released a
disc on Opening a Spa. The disc covers everything that an
individual wanting to open a spa would need to know to get started:
-
Types of loans
and obtaining a loan
-
Choosing a
location
-
Writing a
business plan
-
Assessing the
market
-
Choosing a
theme
-
Selecting a
business model
-
Getting a
timeline in place for the startup
The disc is Mac
and IBM compatible and very simple to run. The cost of the disc is
$95 to non-members and $49 to members. To order the disc, please
call 970-226-6145.
Disc Excerpt:
Thinking of
opening a spa but uncertain where to start? The Spa Association
(SPAA) has recently released a CD entitled, “Opening a Spa, A
Guide to Getting Started.” The disc contains a variety of
information including methods for obtaining funding and specific
loan types.
The Small
Business Association (SBA) 7(a) Loan Guaranty Program, for
instance, offers guarantees up to $750,000 or 75% of the total
loan amount, whichever is less, with interest rates of
2.25-2.75% over prime. The loan amount can be used for real
estate, equipment or general business purposes. The Low Doc SBA
loan is a 7(a) specialty loan that offers quick processing for
amounts under $100K. Approval based on personal credit rating
and business cash flow with an easy to fill out two page
application. The SBA thinks of this as a character loan with
letters of reference oftentimes being all that is needed to
secure the funding. To find out more about SBA funding, go to
www.sba.gov or call 1-800-U-ASK-SBA.
For private
funding there are also a number of options:
-
Installment Loans: paid back with equal monthly payments
covering principal and interest.
-
Balloon
Loans: Interest is paid back over the life of the loan. The
principal payment is due on the final day of the loan.
-
Line of
Credit Loans: An immediate loan offered by a business’s bank
for short term emergencies and business cycle needs. Every
business should have access to this type of arrangement with
their bank.
For more
information on SBA programs go to www.sba.gov or call For more information on The Spa
Association go to www.thespaassociation.com or call 970-226-6145.
The Spa
Association is your one stop professional association for
information, resources, education, and community in the spa
industry. No other organization unites medical spas, day spas, stay
spas, fitness and wellness centers. Moreover, SPAA offers member
benefits such as free educational materials, group insurance rates,
an online virtual marketplace, national directory, business tools
and marketing assistance.
The Spa
Association assists with consumer and professional standards, while
helping vendors, spa owners and technicians run a more profitable
business and enjoy robust career options. SPAA is taking the
professional beauty industry to the next level with innovative
strategies to make our members more successful. Find out more about
The Spa Association by going to our website at
www.thespaassociation.com or by calling 970-226-6145.
For More
Information Contact:
Melinda Minton,
Executive Director
The Spa Association
PO Box 273283
Fort Collins, CO 80527
Phone: 970-226-6145
Fax: 970-226-6627
E-mail:
info@thespaassociation.com
Web: www.thespaassociation.com
