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Old 07-21-2014, 11:15 AM   #1 (permalink)
 
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Selling Salon

Can anyone give me some helpful hints as far as selling a salon thats been in business for over 28yrs.

I'm in the state of Pennsylvania and with the new regulations that are now in effect in my state I just can't seem to get ahead.

Thank you
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Old 07-21-2014, 12:37 PM   #2 (permalink)
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Re: Selling Salon

I've also just listed my salon for sale. I've gotten some inquires, but from people other than experienced salon owners. When I tell them, there are down months in this business, and expenses are sometimes more than income, they tell me they are not interested. It's going to be a tough row to hoe, to sell a tanning salon now, so I'm giving it another year, and then, will sell the equipment and close the doors. In other words, you will need more then just helpful hints to sell a tanning salon at this time. I wish I had some for you, but good luck to you.
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Old 07-21-2014, 01:19 PM   #3 (permalink)
 
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Re: Selling Salon

Same situation as Parrot Head here. Just waiting it out. Sad, but true.
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Old 07-21-2014, 01:43 PM   #4 (permalink)
 
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Re: Selling Salon

This is the pattern in this industry. Salons that have been around for 10 to 28 years, trying to stay profitable by doing things the same way that were effective years ago. Instead of making changes required to stay successful based on a changing industry and consumer, operators simply keep failing and think the industry is at fault and unfortunately no longer have a business that can be sold.

What is the solution to this trend?
Close your doors and get a job or do something that will turn your salon around and while it is successful showing a profit, put your business up for sell because you have a salon that someone will want to purchase.

If you are no longer interested in driving your own success you should get out.

If you have not waited until it is too late you could actually evaluate your business, make changes just as though you are new to the business and turn your salon around. The problem is not the industry, economy or new regulations. The problem is you and the fact that you gave up a long time ago.

THERE ARE SUCCESSFUL TANNING SALONS. All it takes is a business model that is designed for todays market and consumer. Tanning and tanners will never go away. There will ALWAYS be a need for tanning salons.

Don't be stupid, you in many cases sacrificed a great deal to own your business. Get help and turn that salon around and start making money and enjoying what you do again. There are so many options as far as business models.
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Old 07-21-2014, 04:25 PM   #5 (permalink)
 
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Re: Selling Salon

Quote:
Originally Posted by Steve Underhill View Post
This is the pattern in this industry. Salons that have been around for 10 to 28 years, trying to stay profitable by doing things the same way that were effective years ago. Instead of making changes required to stay successful based on a changing industry and consumer, operators simply keep failing and think the industry is at fault and unfortunately no longer have a business that can be sold.

What is the solution to this trend?
Close your doors and get a job or do something that will turn your salon around and while it is successful showing a profit, put your business up for sell because you have a salon that someone will want to purchase.

If you are no longer interested in driving your own success you should get out.

If you have not waited until it is too late you could actually evaluate your business, make changes just as though you are new to the business and turn your salon around. The problem is not the industry, economy or new regulations. The problem is you and the fact that you gave up a long time ago.

THERE ARE SUCCESSFUL TANNING SALONS. All it takes is a business model that is designed for todays market and consumer. Tanning and tanners will never go away. There will ALWAYS be a need for tanning salons.

Don't be stupid, you in many cases sacrificed a great deal to own your business. Get help and turn that salon around and start making money and enjoying what you do again. There are so many options as far as business models.
Quote: "The problem is not the industry, economy or new regulations, Tanning and tanners will never go away." It is amazing that anyone hires you with statements like that. The only people who think that way are people who have not been in the industry long enough to have seen the changes in it over the past 15-20 years. You would do a lot better by admitting that these are challenging times in the industry that require new tactics; not acting like there is nothing to worry about.

Far More salons have closed over the past 10 years than have opened. Tanners have been and are continuing to "go away" every year. The evidence of these facts are overwhelming. Many of these "stupid people" who are no longer in the industry are people who know the business like the backs of their hands.

You don't get anyone's business by insulting their intelligence, which is what you do just about every time you post.
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Old 07-21-2014, 05:09 PM   #6 (permalink)
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Re: Selling Salon

Boy, did Dogfan hit the nail on the head.
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Old 07-21-2014, 05:48 PM   #7 (permalink)
 
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Re: Selling Salon

I think there's good points in both posts, The salon I took over was a struggling salon that's been in my family so I've seen the good days and the decline. When I took over I started marketing on social media. Facebook is key to our salon. Then the biggest change for us is the sales techniques. Not what bed do you want but what lotion do you want to try today. We had the best Year the salon has ever had and that includes the glory days. Doubled last years total revenue. The reason salons are going down in my opinion is the price of the equipment and the technology that has been added just to simply log in a customer. $1500 for a computer software to track your visits and customer database? A little excessive for a business that rarely brings in a profit in the last 6 months of the year. Salons that bought $100k worth of equipment in 1998 are now having to update their equipment. $100k for 7 beds in 1998 now will cost $200k+ but let me ask you.. Are your prices double what they were in the glory days??? no. Could you possibly charge double with your outdated equipment??? no. Buy up a closing salons used equip. for 1/4 of the price put some new blood in the veins and broadcast it via social media. The only way to survive is to change get out of the routine or "rut" you might be stuck in and let someone else take the wheel. Let your most intelligent 20 year old employee run your salon for one month. Pick December for example. Tell them if they profit over what you did last December you'll give them 10% of that profit as incentive. I promise this will open your eyes if you have hired the right employees. My girls run my salon as a team. I have given them the decision to pick product make schedule and create specials. Each one has a different opinion and together they all work! They do a great job and are the face of the salon. WE are ugly the girls we hire.... GORGEOUS 90% of the time... So put them in front let them run it see what they come up with. it's worth a shot
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Old 07-21-2014, 06:53 PM   #8 (permalink)
 
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Re: Selling Salon

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Originally Posted by crosbytan View Post
I think there's good points in both posts, The salon I took over was a struggling salon that's been in my family so I've seen the good days and the decline. When I took over I started marketing on social media. Facebook is key to our salon. Then the biggest change for us is the sales techniques. Not what bed do you want but what lotion do you want to try today. We had the best Year the salon has ever had and that includes the glory days. Doubled last years total revenue. The reason salons are going down in my opinion is the price of the equipment and the technology that has been added just to simply log in a customer. $1500 for a computer software to track your visits and customer database? A little excessive for a business that rarely brings in a profit in the last 6 months of the year. Salons that bought $100k worth of equipment in 1998 are now having to update their equipment. $100k for 7 beds in 1998 now will cost $200k+ but let me ask you.. Are your prices double what they were in the glory days??? no. Could you possibly charge double with your outdated equipment??? no. Buy up a closing salons used equip. for 1/4 of the price put some new blood in the veins and broadcast it via social media. The only way to survive is to change get out of the routine or "rut" you might be stuck in and let someone else take the wheel. Let your most intelligent 20 year old employee run your salon for one month. Pick December for example. Tell them if they profit over what you did last December you'll give them 10% of that profit as incentive. I promise this will open your eyes if you have hired the right employees. My girls run my salon as a team. I have given them the decision to pick product make schedule and create specials. Each one has a different opinion and together they all work! They do a great job and are the face of the salon. WE are ugly the girls we hire.... GORGEOUS 90% of the time... So put them in front let them run it see what they come up with. it's worth a shot
I am right there with you. I have done all the things you are mentioning and more. I have been relatively successful. But, I see what I see. 20 salon chain in S AL N FLA just converted all their stores to PBT; STC is blazing a trail from the North to the South buying out salons from Virginia to GA. It is really happening at a fast pace. I compete with 2-25 bed PBT's with 18.88 and sprays 2-$25, 5 tans for free......1 little ole salon will not survive forever under those conditions, no matter what some lame brain tanning guru tells you.
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Old 07-21-2014, 08:20 PM   #9 (permalink)
 
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Re: Selling Salon

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Originally Posted by Dogfan View Post
I am right there with you. I have done all the things you are mentioning and more. I have been relatively successful. But, I see what I see. 20 salon chain in S AL N FLA just converted all their stores to PBT; STC is blazing a trail from the North to the South buying out salons from Virginia to GA. It is really happening at a fast pace. I compete with 2-25 bed PBT's with 18.88 and sprays 2-$25, 5 tans for free......1 little ole salon will not survive forever under those conditions, no matter what some lame brain tanning guru tells you.
I wish they'd come to northern Michigan! I'd sell tomorrow.
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Old 07-21-2014, 08:24 PM   #10 (permalink)
 
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Re: Selling Salon

By the way peach...I'm agreeing with you today.
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