City Cave’s epic goal: 150 sites by 2024
The award-winning City Cave wellness chain plans to hit its mega target of 150 sites within the next three to four years.
The Aussie concept is steaming ahead with 11 sites secured, adding to the 10 trading, and the 11th outlet set to open its doors late February in Sydney’s Bellavista.
Co-founder Jeremy Hassell told Inside Franchise Business “We want to do 20 this calendar year, and will sell five more before June. We’re focusing on southeast Queensland and the eastern seaboard, it’s more accessible for us.”
City Cave’s epic goal appeals to gym owners
This year the chain will welcome its first multi-unit franchisee in Brisbane. The owner of three Anytime Fitness franchises who operates Beenleigh City Cave outlet will open the doors to his second outlet, in neighbouring Springfield.
Another gym owner, a Snap Fitness franchisee, will open City Cave in Cleveland.
City Cave provides float therapy, infrared saunas, massage and treatments with health practitioners.
Hassell said “We are getting a lot of enquiries from gym owners. It seems a pretty good marriage, with like-for-like clientele, and cross-promotions.
“We’re in a good position with sites, we need 200 sqm and there are not many tenants who can fill that kind of space, it sits in the middle range.”
Hassell reports existing stores have traded well over the Christmas period with three outlets topping $120,000 in revenue.
There are fixed costs for the 13 hours, seven days a week trading but above those, operational costs for services such as sauna and float tanks are very low. “The costs of goods sold don’t rise dramatically,” he said.
Hassell spoke to Inside Franchise Business from Nashville, US, after attending the International Franchise Association’s annual convention, where the brand was given ‘All Stars’ status in the NextGen global competition.
Last year Hassell and co-founder Timothy Butters snapped up the top prize in the young entrepreneurs’ global franchise award.
The City Cave business was launched in 2016 and has been franchising since 2018.