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Old 11-21-2013, 08:00 AM   #1 (permalink)
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Top SBA Franchise Loan Failures

https://www.openforum.com/articles/w...dication-tab-p

Planet Beach - 58% failure rate
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Old 11-21-2013, 09:11 AM   #2 (permalink)
 
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Re: Top SBA Franchise Loan Failures

I just did a little more research wondering if any tanning franchises actually did make a Best Franchise list and found that Desert Sun has a failure rate of 18.18% But also that L.A. Tan has a failure rate of 66.67% and Executive tans has a 80% failure rate...

http://williambruce.wordpress.com/20...loan-defaults/
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Old 11-21-2013, 09:17 AM   #3 (permalink)
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Re: Top SBA Franchise Loan Failures

The actual rates could be higher or lower as this article is only looking at SBA loans.
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Old 11-21-2013, 09:22 AM   #4 (permalink)
 
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Re: Top SBA Franchise Loan Failures

Actually that list was SBA also but it was the failure rate over the last 10 years added together
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Old 11-21-2013, 10:09 AM   #5 (permalink)
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Re: Top SBA Franchise Loan Failures

This industry has been dying a slow death for the last 10 years, and has accelerated the last 5. The media, social media, derms, and the WHO have taken a toll. As a matter of fact, if I had a large SBA loan outstanding, I would be teetering on being in their stats. The downward trend continues, for most, with a few that enjoy the good life. The young former tanners, finally realized that they don't need to tan, and besides that, the tanning scare finally hit home.
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Old 11-21-2013, 10:29 AM   #6 (permalink)
 
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Re: Top SBA Franchise Loan Failures

No travel, no tan.
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Old 11-21-2013, 11:08 AM   #7 (permalink)
 
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Re: Top SBA Franchise Loan Failures

I think that the economy combined with our industry's obsession with building bigger and more expensive tanning equipment is one of the biggest factors effecting the tanning industry today.

Salon owners buy $35 k beds and $30 k spray booths and then want to charge customers $100 a month to get in them and wonder where all of the customers are.

The American consumer is TAPPED OUT. We are pricing ourselves out of our own market.
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Old 11-21-2013, 11:09 AM   #8 (permalink)
 
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Re: Top SBA Franchise Loan Failures

Planet Beach is the only national one but hard to feel sorry for anyone buying into it without doing their due diligence.
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Old 11-22-2013, 02:02 PM   #9 (permalink)
 
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Re: Top SBA Franchise Loan Failures

Quote:
Originally Posted by ljtan View Post
Planet Beach is the only national one but hard to feel sorry for anyone buying into it without doing their due diligence.
Didn't see Palm beach, South beach, or Sun Tan City.
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Old 11-22-2013, 04:13 PM   #10 (permalink)
 
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Re: Top SBA Franchise Loan Failures

I don't know if the failure rate is the Franchisor fault as much as the industry and public opinions about tanning today.

Lets face it, the best days have faded away like a bad tan.
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