Thermal SPA
Size & Capacity: Target footprint of 4,500–6,000 sq ft with capacity for approximately 150 guests at a time.
EXECUTIVE SUMMARY
Concept: An authentic thermal spa offering hot/cold hydrotherapy (sauna, steam, banya, cold plunge, swimming pool, and contrast bath) with a cozy lounge, karaoke and private rooms and kitchen serving simple, hearty food.
Location: York Region site, easily accessible from both Toronto and the GTA.
6,000 sq ft
$750K Investment
York Region
106% Yearly Return
COMPETITION & MARKET INFORMATION
Growing GTA Population
Fast-Growing York Region
Canada Spa Market Expansion
Premium Urban Consumers
The Toronto census metropolitan area passed 7 million residents in 2024, after adding a record 268,911 people in a single year (+3.9%), rapidly expanding the potential guest base.
York Region’s population reached about 1.26 million in 2024 and is forecast to exceed 2.0 million people by 2051, nearly doubling the local catchment.
The Canadian spa market was valued at USD 5.31 billion in 2024 and is projected to reach about USD 12.22 billion by 2033, growing at a 9.6% CAGR from 2025 to 2033.
In large metro regions like the GTA, over 50% of households fall into middle and higher income brackets, creating a solid base of consumers who can afford regular wellness experiences.
Main competitors: Banya#2, Vladimirskie Bani, Steamul Sauna
Projected Returns
The $750,000 owner investment is projected to generate $5.9M in net returns over a 3-year period, representing an overall return of approximately 787%. This equates to an annualized return of roughly 106% per year.
FACILITY OVERVIEW
Hot Rooms
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Sauna: A dry, hot room that delivers high temperatures to relax muscles and clear the mind.
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Banya: A traditional heat experience that uses steam and venik (birch or oak branches) to boost circulation and promote the release of toxins from the body.
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Steam Room: A humid space where gentle steam opens pores, supports easier breathing, and relaxes muscles.
Relaxation Spaces
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Lounge Area: A comfortable space where guests can relax, mingle, and enjoy some quiet time during or after their spa session.
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Private Rooms: Exclusive rooms that guests can book to relax and enjoy activities like watching TV, playing board games, or doing karaoke.
Water Experiences
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Cold Plunge: A short immersion in cold water (50–59°F / 10–15°C) that helps reduce inflammation, ease muscle soreness, and support recovery.
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Contrast Bath: A treatment that switches between warm and cold water to increase circulation, relax muscles, and help the body recover faster.
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Swimming Pool: A large space to swim, move, or relax in the water at your own pace.
Dining Experiences
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Spa Café: A cozy area where guests can unwind with small dishes, refreshing beverages, and specialty teas.
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Restaurant: A place where guests can enjoy a meal, rounding out a full day of rejuvenation.
Key KPI's:
Capacity & Utilization
Operational Capacity
Projected Visitor Volume
Target segments
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Sauna 10 guests
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Steam room: 6–8 guests
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Lounge/Common area : 40–50 guests
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Cold plunge/showers: 5-6 guests at a time
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Restaurant: max 60 guests
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Spa Café: max 20 guests
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Daily Throughput Potential:
Year 1 - 70 visitors/day
Year 2 - 85 visitors/day
Year 3 - 120 visitors/day
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Residents seeking stress relief
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Diverse cultural and ethnic communities
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Health and fitness-minded guests
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Corporate and hospitality clients
ROOM PLANNING
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Traditional Sauna/Banya
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Steam Room
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Cold Plunge/Contrast Baths
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Changing/ Shower/ Wash Rooms
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Relaxation / Rest Areas (Lounge, Swimming pool)
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Reception Area (Staff room)
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Restaurant + Spa café
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3 - Private Rooms
FACILITY DEVELOPMENT COSTS
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Banya (5-guests) - $10,000
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Steam room (2‑guests) - $12,000
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Sauna (5‑guests) - $10,000
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Cold Plunge (2 tubs) - $12,000
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Private room for 7 people - $10,000
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Private room for 5 people - $11,000
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Private room for 15 people - $13,000
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Showers + changing rooms + washrooms (8–10 people) - $70,000
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Front desk + staff room / small storage / mechanical - $12,000
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Café + restaurant (2 halls, shared kitchen) - $100,000
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Lounge with swimming pool + seating/rest area - $155,000
Low estimate (basic finishes / efficient fit-out): CAD $415,000
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STAFFING PLAN
MINIMUM EFFICIENT TEAM: 9 employees total with 7 staff per operating shift.
TOTAL ESTIMATED MONTHLY PAYROLL: $29,000 per month
* All projections are intended to provide an estimate of the Company’s expected financial performance and may vary as circumstances change