Floatation tank therapy and wellness centre opens in South Yorkshire with help from Finance For Enterprise

Former graphic designer Peter Sullivan, from Doncaster, launched his business after discovering floatation therapy could boost his feeling of wellbeing.

Floatation therapy was first developed in the US in the 1950s and today it is used for a wide range of purposes ranging from injury rehabilitation to reducing stress and overcoming conditions such as insomnia, anxiety and depression.

Advocates of floatation therapy have ranged from professional sports stars to celebrities including Gwyneth Paltrow.

Mr Sullivan, the founder of Float Space, said: “Although the concept of floating therapy has been used for many years, there were just 50 dedicated centres based in the UK. I felt there was an opportunity to bring the concept to South Yorkshire.”

Working with investment manager Gillian Pickard, Mr Sullivan was able to secure a Start Up Loan.

A spokesman said: “The funding proved to be critical, and by drawing on the £25,000 loan combined with his life savings, Peter was able to secure the keys to a former tile warehouse, as well as purchasing two floatation tanks.”

He has now transformed the former tile centre into Thorne Wellness Centre.

Mr Sullivan added: “I spent just over a year carefully developing and refining my plans. Although I’d run my own graphic design business in the past, I knew that creating a floatation centre would be a very different business model, and one which would require additional funding.”

Ms Pickard said: “For many aspiring business owners, accessing finance can present a significant challenge.

“Peter was acutely aware that his business would need to secure suitable premises and invest in specialist equipment. He recognised that without being able to secure the necessary financial support, his business idea would have sunk without a trace.

Finance For Enterprise provides a range of tailored loans, aimed at helping SMEs (small and medium-sized enterprises) in Yorkshire and the Humber, the East Midlands and Lincolnshire. The company acts as a fund manager for the Northern Powerhouse Investment Fund and Start Up Loans UK and provides business loans up to £250,000.