Q&A with Co-Owner, Courtney Thomas
Give a high level overview of your business.
Luna Float Spa is a premier relaxation destination with a serene, refreshing experience, for rejuvenation of mind and body. We have four float pods (two are double occupancy), spectacular Salt Cave, a full spectrum infrared sauna, hyperbaric oxygen chamber, Ayurvedic evaluations, massage treatments, and energetic offerings. Floating is an experience where you enter into a float tank/pod (also called a sensory deprivation tank or isolation tank), which is a well-engineered tub filled with 10 inches of water and 800-1200 pounds of Epsom salts. The tank is insulated to reduce light and sound, while simultaneously keeping the water heated to your skin temperature. When the water settles, you remain relaxed and still, allowing your body to float effortlessly while reducing stress and tension.
For more information on our services, please refer to our website: www.lunafloatspa.com
How did the idea for your business come about?
My background includes a BA in Ayurveda and Integrative Wellness. Utilizing my degree program, I decided it would be best to start with an already existing integrative wellness facility, and take a more consciousness-based approach to healthcare. Flotation therapy was a perfect catalyst.
What neighborhood is your business located in and what do you love about that location?
We are located in the luxurious Broadmoor area, nestled in between two exclusive resorts - the Broadmoor & Cheyenne Mountain Resort! I love the loyalty of our clientele. (Colorado Springs, CO)
What shift in your business led you to seek out new/additional funding?
We purchased Luna in July 2020, right at the height of the pandemic, but have thrived through it all. In order to keep up with the demand of all of CO Springs, we needed more tanks. Our clients were also seeking alternative treatments for respiratory management, so we wanted to also build a Salt Cave.
How did you find out about CEF?
The Solid Rock Christian Center was doing a course with Cory Arcarese, a loan officer with CEF for “Ex-Cons and o Business Owners.” Fitting the profile, I decided to enroll in the course. Cory thought it was a good idea, so we began working with CEF towards a loan.
What ultimately made you decide to go with CEF as your lender?
Cory Arcarese is the reason. She was a very genuine human being, who seemed to just want to help the under privileged community. Even though we didn’t get the start-up loan with CEF, Cory, after hearing of our success in our first year, reached back out to see if we’d like to expand and the loan then happened!
What were you able to do with the funding you received from CEF?
We paid off a Merchant Cash Advance that had horrible rates, but was our only options to continue growing our company. We also purchased two new float tanks, these being double occupancy tanks.
Tell us about some of the defining moments for you in your business, whether struggles or successes.
Due to the spa never reaching breakeven in its 5 years, we were not able to obtain funding. The only way to purchase was to sell our home to have our dream. We bought an unsuccessful business in the midst of the pandemic and within the first 90 days, we made 3x the revenue and have stayed consistent ever since!
What's something on your bucket list that you hope to accomplish within the next 5 years?
Our first two years have been spent expanding, while for the next two years we plan to focus on retaining our earnings. From there, we hope to obtain a SBA 504 loan for a new construction/second location north of Colorado Springs.