Mindbody has introduced Mindbody Capital, a financing option for spa and wellness businesses. The goal is to provide businesses with easy access to funding and help support the wellness industry's recovery from the pandemic.
Mindbody Capital can be used through the current Mindbody software. Customers and businesses who participate in Mindbody Capital receive non-recourse financing with a one-time capital fee. Funding is also paid back based on a flat percentage of future sales with no minimum payments.
“As we watched our industry overcome the ups and downs of the pandemic, Mindbody dedicated our resources to supporting our customers with fee relief, advocacy efforts and enhanced educational resources. We knew we could do even more to help our customers recover and accelerate their growth as we exit the pandemic,” said Josh McCarter, CEO of Mindbody and ClassPass. “Almost a third of Mindbody customers plan to expand their business into more locations in the next 12 months. Supporting these businesses in funding their growth is just one of the many ways Mindbody Capital can help the wellness industry rebuild.”