NEED ADVICE AND INFO ON HOW TO START A SALON - PLEASE HELP - tanTALK

thebronzebody · 11-10-2004, 09:00 PM

I have been researching everything about starting a tanning salon for the past 6 months and have even started my business plan. I have $5,000-$10,000 to put into it but I need to know the best way to get the rest of the money needed, loan, investor, etc. We figured we need $80,000 total. If anyone could let me know how you did it that would be great or any other advice. Thanks

MATT A · 11-10-2004, 09:27 PM

You need more moeny... Bottom line..

TRTS · 11-11-2004, 09:30 AM

We paid for everything out of pocket with the exception of about $20,000. We did a home equity line of credit to cover the balance of the equipment ($20,000). Quick $ and the best interest rate out there.

ALOHATANCA · 11-11-2004, 01:21 PM

Better add an additional $60k to get through the slow season......for the first few years !!!!

KnxTan · 11-11-2004, 01:35 PM

A modest 10 bed build-out (turn key) about 80K alone.

West Side Tanner · 11-11-2004, 04:15 PM

Don't expect to put money in your pocket the first year. This business is a lot of work, despite what people think.

Sherin · 11-11-2004, 04:18 PM

We got an SBA Loan.

ramcat · 11-11-2004, 04:51 PM

Get a loan from the parents and in-laws. Depending on how many beds, booths you want to start with, you're looking at about $80+++++++. Be wary of cheap beds. Be wary of slick salesman (except me of course.)

That $5000-$10000 you have will cover the cost to open the door. I mean, you have the licenses to get, the building to secure (rent, electric, water, etc...etc...), building of the rooms, etc., etc. and that does not even cover the first bed to purchase. And don't forget the salaries and accountants and taxes and POS programs, and computers and...and...and....

tanu01 · 11-11-2004, 05:28 PM

opinion here, modest 10 unit store,with the right lease that includes build,still 100k just for beds and neccesities.

dcjjp2 · 11-11-2004, 05:53 PM

Our buildout, equipment and furnishing ended up going over budget by @ $100,000. Not to mention the close to $230,000 that was in the business plan. Not to mention, we were 4 mos overdue on the opening due to building code issues and ended up opening up in the off season. We are a 7 unit plus Mystic and three massage rooms, total @2134 square ft on a bi-level set up.

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11-10-2004, 09:00 PM	#1 (permalink)
thebronzebody Join Date: Nov 10 2004 Posts: 19 Rep Power: 0	I have been researching everything about starting a tanning salon for the past 6 months and have even started my business plan. I have $5,000-$10,000 to put into it but I need to know the best way to get the rest of the money needed, loan, investor, etc. We figured we need $80,000 total. If anyone could let me know how you did it that would be great or any other advice. Thanks

11-10-2004, 09:27 PM	#2 (permalink)
MATT A I'm Banned Join Date: Sep 6 2004 Posts: 13,921 Rep Power: 0	You need more moeny... Bottom line..

11-11-2004, 09:30 AM	#3 (permalink)
TRTS Waiting Confirmation Join Date: Apr 12 2004 Posts: 179 Rep Power: 0	We paid for everything out of pocket with the exception of about $20,000. We did a home equity line of credit to cover the balance of the equipment ($20,000). Quick $ and the best interest rate out there.

11-11-2004, 01:21 PM	#4 (permalink)
ALOHATANCA Tan Talk Industry Pro member Join Date: Nov 14 2003 Location: CALIFORNIA Age: 65 Posts: 3,455 Rep Power: 24	Better add an additional $60k to get through the slow season......for the first few years !!!!

11-11-2004, 01:35 PM	#5 (permalink)
KnxTan I love Derf!! Join Date: Oct 8 2004 Posts: 896 Rep Power: 24	A modest 10 bed build-out (turn key) about 80K alone.

11-11-2004, 04:15 PM	#6 (permalink)
West Side Tanner Join Date: Dec 27 2003 Location: Florida Posts: 1,818 Rep Power: 21	Don't expect to put money in your pocket the first year. This business is a lot of work, despite what people think.

11-11-2004, 04:18 PM	#7 (permalink)
Sherin I love Derf!! Join Date: Aug 10 2004 Location: Puget Sound Posts: 2,870 Rep Power: 24	We got an SBA Loan.

11-11-2004, 04:51 PM	#8 (permalink)
ramcat Join Date: Oct 26 2004 Location: Florida Posts: 2,262 Rep Power: 21	Get a loan from the parents and in-laws. Depending on how many beds, booths you want to start with, you're looking at about $80+++++++. Be wary of cheap beds. Be wary of slick salesman (except me of course.) That $5000-$10000 you have will cover the cost to open the door. I mean, you have the licenses to get, the building to secure (rent, electric, water, etc...etc...), building of the rooms, etc., etc. and that does not even cover the first bed to purchase. And don't forget the salaries and accountants and taxes and POS programs, and computers and...and...and....

11-11-2004, 05:28 PM	#9 (permalink)
tanu01 "The Man" Join Date: Mar 4 2003 Location: ohio Posts: 4,015 Rep Power: 23	opinion here, modest 10 unit store,with the right lease that includes build,still 100k just for beds and neccesities.

11-11-2004, 05:53 PM	#10 (permalink)
dcjjp2 I love Derf!! Join Date: Jul 12 2004 Location: Va Posts: 3,228 Rep Power: 28	Our buildout, equipment and furnishing ended up going over budget by @ $100,000. Not to mention the close to $230,000 that was in the business plan. Not to mention, we were 4 mos overdue on the opening due to building code issues and ended up opening up in the off season. We are a 7 unit plus Mystic and three massage rooms, total @2134 square ft on a bi-level set up.

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