tanTALK - Tanning Salon Business Owners Community - View Single Post

ltaylor · 01-25-2006, 08:32 PM

I am considering purchasing an existing salon. My quetion is this.... The current owner told me that last years revenue was 59K and then he emailed me again and said the 59K was the amount being reported to IRS. He stated that the tanning industry is 60-70% cash business and he told me to calculate that. Is this true? I can't survive on the 59K alone but if there is another 30K in cash that he's not reporting then it's an option. Just curious.

01-25-2006, 08:32 PM	#1 (permalink)
ltaylor Join Date: Jan 5 2006 Location: georgia Posts: 55 Rep Power: 0	Reporting Cash I am considering purchasing an existing salon. My quetion is this.... The current owner told me that last years revenue was 59K and then he emailed me again and said the 59K was the amount being reported to IRS. He stated that the tanning industry is 60-70% cash business and he told me to calculate that. Is this true? I can't survive on the 59K alone but if there is another 30K in cash that he's not reporting then it's an option. Just curious.