CLOSED
GET A PIECE OF GARRA FISH SPAS
Relax, Rejuvenate, and Refresh with Our Fish Spa Experience
Garra Spas delivers a fun, unique spa experience to everyday users with our custom-designed tanks where a special breed of Garra Rufa fish provide a special therapeutic experience to our customers’ feet. Available in corporate and franchise locations across six states since 2016.
$133,962.12 Raised
REASONS TO INVEST
Our specialized breed of toothless Garra Rufa fish and patented filtration system create a highly hygienic and pleasurable fish spa experience.
Our revenue grew 111% YoY from 2021 to 2022 and our cost of sales was only 3% in 2022. Our founders bring decades of experience in business, sales, negotiation, retail leadership, psychology, and human resources.
We recently unveiled our sleek new kiosk footprint, and now we are in the process of expanding our presence nationwide through locations at Simon Malls and Tanger Outlets.
The Pitch
Delightfully Relaxing and Highly Hygienic Fish Spa Experiences
At Garra Spas, our mission is to create a fun and relaxing experience people can’t find anywhere else through our fish spas. Our authentic breed of Garra Rufa fish are 100% toothless, and our patented filtration and sterilization process protects both the hygiene of our customers and the longevity of our fish. We focus on high-traffic, tourist destinations in six states, including Florida and Nevada, creating memorable in-person experiences for customers of all ages. Now, with our new kiosk model complete and locations in place with Simon Malls and Tanger Outlets, we are ready to expand.
The PrOblem & Our Solution
Memorable In-Person Experiences In Popular, High-Traffic Locations
Currently, shopping centers struggle to compete against online shopping, often lacking offerings that can only be experienced in person. Meanwhile, customers are constantly seeking new ways to form fun memories with friends, family members, or significant others.
Our fish spa experience is a soothing, fun, and tactile experience that brings people together in the real world. With both franchise and corporate arms, we generate revenue from franchising fees and ongoing royalties as well as sales from our corporate locations. Additionally, we offer a line of spa products, including hand and foot creams, body butters, and salt scrubs. These products are sold in both our franchise and corporate locations.
The Market & our traction
A Fresh New Kiosk Design Ready For Market Expansion
Our target locations include high-traffic tourist destinations such as cruise ports, travel hot spots, and large cities. Our fish spa experience is perfect for date nights, business team-building exercises, bachelorette parties, and more.
We have patented both our filtration system and our chair/tank design. To date, over 2 million customers have enjoyed our fish spa experience and were profitable in 2021 and 2022. We recently unveiled our new kiosk footprint with a newly designed spa chair including 360-degree views, beautifully lit acrylic walls, and softer seating.
Since the release of the new footprint, four new locations have opened, and the demand from shopping centers has dramatically increased. Now, our locations at Simon Malls and Tanger Outlets could allow us to expand nationwide.
WHy Invest
On A Mission to Help More Customers Relax and Rejuvenate
As we expand, we intend to open additional locations in our most popular current markets including South Florida, Las Vegas, and along the southeast coastline. We also plan to break out in new markets based on our target areas like Texas and New York and have interest from major property owners, such as Simon Properties.
Join us as we build the corporate side of our business to accompany our existing profitable franchising side to bring a delightful, memorable fish spa experience to customers everywhere.
ABOUT
HEADQUARTERS
27001 US HWY 19 N., Suite 2056
Clearwater, FL 33761
WEBSITE
View Site
Garra Spas delivers a fun, unique spa experience to everyday users with our custom-designed tanks where a special breed of Garra Rufa fish provide a special therapeutic experience to our customers’ feet. Available in corporate and franchise locations across six states since 2016.
TEAM
Andrew Gelfand
Chief Executive Officer, Director
James Kalp, Ph.D., SHRM-SCP
Chief Operating Officer, Chief Financial Officer, Director
ShaRon Willis
VP, Human Resources, Secretary
Darren Mahfuz
Sales Manager
Deb Kalp
Operations Manager
TERMS
Garra Fish Spas
Overview
PRICE PER SHARE
$2
DEADLINE
Oct. 10, 2023 at 6:59 AM UTC
VALUATION
$20M
FUNDING GOAL
$15k - $1.24M
Breakdown
MIN INVESTMENT
$264
MAX INVESTMENT
$1,235,000
MIN NUMBER OF SHARES OFFERED
7,500
MAX NUMBER OF SHARES OFFERED
617,500
OFFERING TYPE
Equity
ASSET TYPE
Common Stock
SHARES OFFERED
Common Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
*Maximum number of shares offered subject to adjustment for bonus shares. See Bonus info below.
Voting Rights of Securities Sold in this Offering
Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
Investment Incentives and Bonuses*
Loyalty Bonus | 15% Bonus Shares
Investors who reserved shares in our Testing The Waters and invest in the offering are eligible for 15% additional bonus shares.
Combo/Avid Investor Perk
Early Bronze
Invest $500+ within the first week and receive 5% bonus shares.
Early Silver
Invest $1,000+ within the first week and receive 7% bonus shares.
Early Gold
Invest $2,500+ within the first week and receive 10% bonus shares.
Early Platinum
Invest $5,000+ within the first week and receive 12% bonus shares.
Early Diamond
Invest $10,000+ within the first week and receive 15% bonus shares.
Volume-Based Perk
Tier 1
Invest $500+ and receive an invitation to Private Investor Group.
Tier 2
Invest $1,000+ and receive a gift card valued at $100 to be used in a store of nomination.
Tier 3
Invest $5,000+ and receive 3% bonus shares + 1 month of membership at a nominated Garra Spa location, plus 2 body butters.
Tier 4
Invest $10,000+ and receive 5% bonus shares + 6-month membership to a nominated Garra Spa (unlimited usage) + 30-minute call with CEO.
Tier 5
Invest $25,000+ and receive 10% bonus shares + 12-month membership to a nominated Garra spa for 2 people + 60-minute call with CEO.
Tier 6
Invest $50,000+ and receive 15% bonus shares + lifetime membership to a Garra Spa of your choice + 60-minute call with CEO.
*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.
StartEngine 10% OWNERS BONUS
Garra Fish Spas will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $2.00 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $200. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and the time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and Loyalty Bonus in addition to the aforementioned bonus.
Irregular Use of Proceeds
We will not incur any irregular use of proceeds.
ALL UPDATES
REWARDS
10%
Stack Owner's Bonus & Rewards!
Members get an extra 10% shares in addition to rewards below!
Owner’s Bonus
Owner’s Bonus Members earn 10% bonus shares on top of this and all eligible investments for an entire year. Not a member? Sign up at checkout ($275/year).
JOIN THE DISCUSSION
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David Amin
2 months ago
The financials look baked up. At $20M good luck to the investors......Way lofty valuation. Ask would shark tank invest..? Why are you ? Plus these fish carry disease and this is hard on the fish. Just google it and you will see the downside.
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Orion Torcellini
4 months ago
Ok Adrian, fresh comment chain since all you want to do is see Andrew’s hard work be clouded by people arguing in the comments. So go ahead, after he answered my question succinctly, you come in to cause issues, lets make it clear for andrew how much you care about putting a good face on for something you supposedly invested in. If not, why are you even here?
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Orion Torcellini
4 months ago
Andrew, Your reply about the legality of your services concerns me. These fish ARE illegal in 9 states for use in spa procedures. California Florida Maine Massachusetts New Hampshire New Jersey New York Texas Washington I have found laws either pending committee or being re-introduced in 21 states in total regarding this procedure. Are you completely oblivious to the legal framework your company is trying to operate in? Or are you pretending like you dont know so it doesnt have to be disclosed as a risk?
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Paul Wood
4 months ago
We lived in Japan for five years and always had fun going to the "doctor fish" spas. They were a lot of fun. Not sure how Americans are going to feel about this though. The PETA people will probably be working to shut you down for abusing the fish.
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David Laquidara
4 months ago
Is this legal in all 50 states?
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Orion Torcellini
4 months ago
Adrian Ill be honest he asked a pretty straightforward question that I also wanted the answer to. If you are in any way associated with this company thats a significant issue to have you mouthing off to potential investors asking questions. If thats the worst youve seen you must be new here. I will be holding off on moving forward in any regard until thats all cleared up. Sad to see
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roger bennett
5 months ago
oi, got it and sorry for being a little harsh in my comment! actually, i was way out of line - was having a bad morning - apologies again!
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roger bennett
5 months ago
this is probably the worst pitch i have ever seen on this site mainly because of the repeated use of the word theraputic in describibng the fish without once explaining the benefit of the fish - strong pass!
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Bennett Cookson
2 months ago
What is the reason the fish are illegal and what are you doing different to allow it?
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