Addressing sleep depravation and associated costs to individuals, businesses, and governments.
SiestaNap plans to help the 41 million Americans that are suffering from lack of sleep and the significant health and productivity loss associated with it.
SiestaNap’s approach is to focus on addressing the core of the problem—sleep deprevation, with a healthy, natural, and practical solution—restorative nap, by solving the existing challenges associated with it—accessibility, stigma, and grogginess.
SiestaNap is developing SiestaMask, a product that will use a combination of science, clinical studies, and technology to address the grogginess that sometimes is associated with taking naps.
Accurately measuring brainwaves through EEG that goes beyong actigraphy and accelerometer to track sleep sessions, SiestaNap will address grogginess that is associated with being awake in less than optimum sleep sessions.
Siestana will make naps accessible to workers in two ways.
Siestana will play a major educational and PR role in tackling the stigma associated with taking a nap as a lazy activity. Because:
Currently, one third which amounts to nearly 41 million of Americans, are overworked and sleep-deprived.
In today’s demanding economy, the problem is becoming a growing trend and the new norm, causing a serious level of personal, business, and societal costs.
Lack of sleep is causing a significant change in workers’ wellbeing. Some of the health problems associated with sleep deprivation include fatigue, irritability, impatience, obesity, high blood pressure, depression, anxiety, increased pain, impaired memory, and thought processes, decreased immune system and overall lower quality of life.
Reduced worker productivity, reduced job performance, lack of motivation, lack of creativity, poor decision making, hampered motor skills, lack of accuracy, increased errors, costly mistakes, absenteeism, low team energy, liability and overall bottom line.
High healthcare costs and fatal accidents.
A healthy, natural, affordable, accessible, convenient & flexible alternative for offsetting workers’ sleep deprivation.
SiestaNap will be a power nap cafe that will enable people to recharge themselves by taking a mid-day nap in private spaces, we call “bubbles”, that are equipped with lighting system, sound system, oxygen level, purified air and a zero gravity chair that are scientifically tested for optimal sleep conditions. SiestaNap will be membership-based and potentially franchisable business.
Members do not need to interact with our on-site representatives when they walk into the site unless needed. They scan their card to get into the entrance.
Ahead of time: A member logs in to Seiestana website or mobile app and selects a time and period of the nap. The list of available bubbles will be shown with the type of zero gravity chair they have. The member then makes a selection, modifies the period if necessary and confirms the reservation. User is given a confirmation plus the bubble number. The member walks into the site and unlocks the designated bubble by scanning the card. The bubble is unlocked only if it is scanned for the reserved time.
Walk ins: A member can walk into the site and speak with an attendant to find an available unreserved bubble and book it. Then the member can scan the card to unlock and take a nap.
SiestaNap will have suits/rooms designed to enable a member to recharge through a nap session in a luxurious, comfortable, private and clean environment. When members arrive at the site, they will use their membership card to unlock the door and walk-in. Once inside they can locate their designated bubble and use the same card to unlock it. The bubble will have the following elements and scientifically tested features:
Sound proof walls: All walls will be soundproofed to promote peace and tranquility throughout the nap session.
Air purifier: Air will always be purified and filtered to sanitize and promote healthy levels of allergens, odors, and humidity.
Temperature controlled: Optimal temperature will be maintained.
Clean blankets: Clean blankets will always be available to cover one self.
Lighting system: Based on studies, we will have a lighting system that is triggered to replicate night light and daylight during the sleep and waking respectively.
A zero gravity chair: Zero gravity chairs are going to be used to allow members to enjoy an optimum posture for resting the body and relieving stress. We will be sourcing our zero gravity chairs from reputable vendors.
Sound system: Each bubble will be equipped with a sound system that will be used for wake up alarm/music or other necessary emergency reasons.
ipad with SiestaApp: Each bubble will have an iPad with SiestaApp. This app will allow members to select nap sessions with a click of a button. A custom nap session can also be set.
Coat hanger and space for personal items: Members will be able to take off their coat, shoes and set their personal belongings aside in peace.
The SiestaNap app will allow members to select a nap session, track their sleep stages and control the bubble lighting, alarm and music.
Selecting a nap session: Once in the bubble, and ready for the nap, members will be able to use the app to select a nap session (alert me, restore me, inspire me — see service model below) with a click of a button.
Sleep and wake mode: When a member selects a nap session, and confirms, the bubble will automatically default to that specific session’s mode—the lighting will be set to sleep mode. The lighting system that is triggered will mimic night light for sleep mode and daylight for wake up mode.
Ideally, SiestaNap will have its flagship shop strategically located at a mid-level of a high-rise commercial building in the financial district of San Francisco.
It will be accessible through an elevator to serve workers within that building. Meanwhile, Siestana will also be considered to have its shops serve workers within 2-3 blocks. SiestaNap has devised the following three business models to ensure quality service and sustainable growth.
SeistaNap has developed its 3 distinct sleep sessions to optimally satisfy the unique needs of its members based on scientifically proven sleep stages and the benefits each stage offers
Optimally, a normal person goes through 5 sleep cycles at night. Each cycle has 5 stages. Depending on each individual stage 1 runs from 5-10 minutes, stage 2 runs from 15-20 minutes, stage 3 runs from 30 – 40 minutes, stage 4 runs from 50 – 60 minutes and stage 5 (REM) lasts up to 80-90 minutes
SiestaNap developed the following three sleep session (packages) based on the benefits of each of these stages bring about
1. Alert me: 20minThis session good to improve productivity in work that required coordination, stamina, alertness, and physical dexterity. This is ideal for members who will operate machinery, such as a car or type or doctors, dentists, laboratory workers, etc. Drowsy drivers have a lot to benefit from this
2. Restore me: 40minThis session helps the napper to clear her mind and restore her body so that he/she can perform better. This is ideal for members that are overworked and overwhelmed. The majority of office workers can benefit from this session
3. Inspire me: 60minIt is good for creativity, sensory, perception, and consolidates newly learned material including spacial orientation. This is ideal for members that are in fields that require them to bring about creative solutions as well as those in decision making
Customize meCustomize me will allow members to enter custom time for their nap session.
SiestaNap has devised three membership coverage models that complement the service models as well as satisfy member needs. Our membership plans are credit-based whereby individuals can buy credits that will then be used for sleep sessions include:
1. Individual PlanThis is a plan where people will be invited for membership by their friend or colleague or family member. We believe people will be happy to sign up for this plan because of the health and other immediate values they get from taking a power nap. An individual plan will have two types of members.
Frequent napper A frequent napper will commit to a monthly fee that goes towards their sleep credits. With this plan, the annual membership fee will be waived. In addition, nap sessions will be at a discounted rate.
Occasional napper An occasional napper does not have to make monthly commitments. This member will commit to a yearly membership fee and use a nap session’s normal rate.
2. Corporate PlanCorporate plan will enable businesses to buy monthly credits for their employees. Businesses will be willing to join this plan because it helps them build a workforce that is always at full capacity with alertness, motivation, creativity and overall productivity. It allows businesses to save billions in liability, lost productivity and performance. Another advantage this provides to businesses is that they will also be able to use it as an incentive to attract and recruit a top-quality workforce.
3. Insurance PlanLeveraging the new healthcare act, this plan will enable members to use their health insurance to pay for the nap sessions. Local and federal governments will support this because of the billions they will save in health care costs, accidents and productivity. Employers and employees will love this plan because it will save money as opposed to the individual or corporate plan.
Time for all set on a 5 minute increments.
The membership fee for frequent nappers is $65/month that fully goes to the nap credits. For members who did not use their nap credits will have their remaining credits minus $5 roll over to the next month. Nap credits will not expire.
Frequent nappers who use their nap credits will always save $5 per nap session.
1. Alert Me: 20minFrequent Napper $14, $1/min thereafter on a 5 min increments
Occasional Napper $15, $1/min thereafter on a 5 min increments
2. Restore Me: 40minFrequent Napper $30, $1/min thereafter on a 5 min increments
Occasional Napper $35, $1/min thereafter on a 5 min increments
3. Inspire Me: 60minFrequent Napper $50, $1/min thereafter on a 5 min increments
Occasional Napper $55, $1/min thereafter on a 5 min increments
4. Customize Me
Frequent Napper $0 first 5 minutes, $1/min thereafter on a 5 min increments, No minimum minutes
Occasional Napper $1 first 5 minutes, $1/min thereafter on a 5 min increments, 10 minutes minimum
1. 0—6 Months: Integrate individual plan, no expansion and fix bugs.
Membership In the first 6 months, Siestana will focus on developing and fostering its individual plan through an invite-only process. Execution of this plan will allow Siestana to bring in quick startup revenue to invest in growth.
Expansion In the first 6 months, Siestana will focus on fostering membership for its flagship site and focusing on business intelligence and learning and shaping behaviors and trends. There will be no expansion that will be undertaken during this time.
Features In the first 6 months, Siestana will do all the necessary usability tests to improve upon service as well as fix necessary bugs.
2. 1—2 Years: Integrate Corporate plan, testing expansion and add feature.
Membership By year 2, Siestana plans to fully integrate its corporate plans. Execution of this plan will give Siestana the needed boost for further growth.
Expansion By year 2, Siestana plans to gain necessary customer demands and expand to at least one other site within the area of utmost demand.
Features By year 2, Siestana will test out having a variety of zero gravity chairs at different price points within a site to cater to member unique needs.
3. 1—6 Years: Integrate Insurance plan, consider franchising and add features.
Membership WIthin 2—6 years, Siestana plans to leverage the new healthcare act to integrate the Insurance plan membership. Execution of this plan will ultimately boost Siestana’s business and enable us to expand and explore franchising opportunities.
Expansion WIthin 2—6 years, Siestana will expand even further to underserved markets and consider franchising opportunities.
Features Within 2—6 years, Siestana will add more features for its controller iPad app to track member sleep stages to wake them up at the right time.
Tracking sleep stages A person goes through 5 sleep stages in a sleep cycle. Waking up after completing each stage is imperative since waking up in the middle of any of these stages will leave a person groggy. Since the time that takes for each stage to complete is different for each person, simply setting a time to wake up will leave some people feeling groggy since it will wake them up in the middle of a sleep stage.Thus, using our sleep tracker app, we will know the exact moment the person completes a sleep stage and trigger the wake-up mode. This will leave all members completing their nap fully awake and refreshed, in addition to all the other benefits of the nap.
Considering Siestana will be serving a considerably underserved market, we do not expect onboarding to be much of a problem. However, we also anticipate slow user acquisition and thus plan to conduct various techniques to create awareness and drive early signups.
1. Lobby Demo DaySiestana will be conducting lobby demo day whereby a model nap bubble with all the features will be taken into the lobby of the building giving workers the reminder and taste of a better alternative to a good recharge can do for them.
2. Free MembershipFree annual membership cards will be given through sweepstakes and early signups to drive early onboarding.
3. Credit RewardsFree nap credits will be given to people who invite friends and colleagues and get them to sign up for a membership.
SiestaNap’s 5—6 year projection is to go national and be accessible to the 41 million sleep deprived working people.
Cautiousely and conservatively estimating, if we tap into only 1% of this underserved market, we have 410,000 Siestana members. And if each member spends merely one “Aert Me” nap session per month at $15/month, Siestana will be a 73.8 million/business. However, with the incorporation of corporate and insurance plans combines with good marketing, we expect to penetrate the market that will use more frequent nap sessions significantly
| 6 Months | 12 Months | ||
|---|---|---|---|
| One-time Startup cost: | = $200,000 | ||
| Fixed cost: | = $14,500/month | $102,000 | $279,000 |
| Variable cost: | ~ $1,300/month | $7,600 | $15,000 |
| Total | ~ $15,300/month | $109,600 | $294,000 |
| 6 Months | 12 Months | |
|---|---|---|
| Sales | $118,500 | $684,500 |
| Gross Margin | 110,900 | $669,500 |
| Operating Margin (Net profit): | $8,900 | $390,500 |