We are incredibly thrilled to announce we have successfully raised our second funding round!
USPAAH is simply, Your Spa At Home. We launched in 2016, with a mission to make it more convenient for people to have wellness and beauty treatments, and to offer therapists a more flexible and rewarding work opportunity. Since then, we have delivered over 10,000 treatments to busy Londoners, and grown our team to almost 200 Sparistas who deliver a wide range of Massage, Nail and Beauty Services to your door.
WHY CUSTOMERS LOVE US
Clients don’t need to book far in advance, travel to a salon, or have cash on-hand. With USPAAH they can get a treatment in an hour within central London, or book up to 3 weeks in advance.
WHY THERAPISTS LOVE US
Our therapists love the app as they don’t have to search for their own customers, they get to choose their working hours, and they can rest assured that payments are sent regularly, directly to their bank accounts. We offer all our Sparistas one of the highest commissions in the business, (75%), access to a professional customer base, flexible hours, and expert training and up-skilling opportunities.
WHY INVEST IN USPAAH
USPAAH is on-demand beauty via a mobile app. Having raised £260k investment in 2016, we have achieved over 840% client and revenue growth 2016-2019, and the business is returning to Crowdcube to seek funding for further expansion in London and beyond.
IMPRESSIVE PROGRESS TO DATE
- Since our first round of investment, accumulated gross sales grew over 800%
- Over £700,000 worth of treatments have booked via USPAAH
- Over 10,000 Massage, Nail and Beauty treatments delivered since 2016
- Over 20,000 downloads of the USPAAH app to date
- Over 15,000 registered users in London
- Team of Sparistas grew from 70 to close to 200
- Expanded services menu from 4 to over 15 different treatments
WHAT’S NEXT FOR USPAAH
Having analysed customer feedback we have identified a number of “growth levers” which will help us achieve further organic growth. With this round of funding we will also build improvements into our back end technology, and invest more in our best performing customer acquisition channels in order to increase market share in London.
With this round of funding we aim to double and even triple our customer base in the next 18-24 months, and grow revenues to over £1mm.
OUR LEADERSHIP TEAM
Founder Background and Experience:
Iglika is originally from Bulgaria, and achieved secondary and higher educations in the USA. She holds a Bachelor’s in Business Administration from Suffolk University, and a Master’s degree in Finance from Boston College.
Prior to Uspaah, Iglika had a successful career in finance with the likes of UBS Investment Bank.
“I launched USPAAH in 2016 after 10 years as an investment banker, as I believed there is a need for a better, more convenient way to deliver wellness treatments to busy Londoners. The way we have grown since then only reinforces my vision and I am incredibly excited about what’s to come”. (LinkedIN)
Kerrie Markou – Director, Business Development and Marketing
12+ year B2B Marketing, Serco plc, Global Marketing Director at Firstsource. (LinkedIN)
Tanya Boseva – Head of Sparista Recruitment, Training and Management, USPAAH Academy Director
15+ years experience across various service lines; nails, massage, facials, make up, etc. Tanya brings a network of clients including celebrities and fashion designers. (LinkedIN)
Our vision is to become the number one provider of premium mobile spa services in major cities around the world, and we couldn’t achieve that without the support from our customers, partners, therapists and investors. So we’re offering you the opportunity to participate alongside our professional investors and be part of our growth.
What is crowdfunding?
Crowdfunding allows anyone to invest in startups with as little as £10 and allows companies like USPAAH to accept investments from customers and the general public alongside professional investors.
How will the money be used?
Over the next 18 months we will continue to execute on our proven growth strategy and deliver on our targets. This includes investing in improvements of our back-end technology, building better Android apps for customer and therapists, building tools to help increase organic growth, and investing in our best customer acquisition channels such as Google, Facebook and Instagram.
Are there any rewards for investors?
Yes, Investor Rewards, starting at just £250!
We are giving up to 10% money back on your investment over £250, in the form of blissful spa treatments at home! We’d like as many of you as possible to discover the ultimate convenience that thousands of our customers are already enjoying. Here’s our rewards structure:
Invest over £250 – Get £25 USPAAH voucher
Invest over £500 – Get £50 USPAAH voucher
Invest over £1000 – Get £100 USPAAH voucher
Invest over £1500 – Get £150 USPAAH voucher
Invest over £2000 – Get £200 USPAAH voucher
Invest over £2500 – Get £250 USPAAH Voucher
Invest over £3500 – Get £350 USPAAH Voucher
Invest over £5000 – Get £500 USPAAH Voucher, plus Aroma Works luxury gift basket with natural oils, plus set of soft terry towels for treatments at home
What share class will be offered in this round?
Ordinary shares will be available to all investors in this round. If you are investing over £5000, you will receive voting class A shares, if you are investing under £5000, you will receive non-voting class B shares.
Are you eligible for EIS tax relief?
Yes, the shares available in this round will be eligible for EIS (Enterprise Investment Scheme) tax relief, which offers up to 30% tax credit (please check with your tax advisor as to whether this benefit applies to you).
What is early access?
Before our campaign is live, there will be a private investor window. During that time we will send a link round to our customers, community and those that sign up on this page to access our campaign before the general public. As our round size is limited it’s your chance to invest early.
Will you be paying dividends?
At the moment we are focused on accelerating the growth and profitability of USPAAH and delivering results to our investors in the long term. At present we haven’t forecasted to issue any dividends to investors and instead we are focused on increasing the overall value of the company as we pursue a path to exit.
What return can I expect and when?
We are committed to the long-term success and growth of USPAAH and at this stage, believe that our efforts are best focused on hitting our growth targets and delivering the best possible experience for our customers and community of therapists. We are realistic about the possibility that we might at some point be approached with acquisition enquiries and we imagine this would take place in the next 3-5 years. As an investor in USPAAH, you would be kept informed of any opportunity to sell your shares.