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Old 12-09-2004, 11:42 AM   #1 (permalink)
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I'm looking to buy a Tanning Salon. My wife and think we want to buy one that is already running. What do you think. Also what do you do to research any area???? What percent of people go to tanning salons... and where can I look for stats.

Thanks
Robby
Macomb County
Michigan
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Old 12-09-2004, 12:30 PM   #2 (permalink)
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research..and good luck!!
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Old 12-09-2004, 12:52 PM   #3 (permalink)
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We found a lot of good info in "Looking Fit" magazine.
http://www.lookingfit.com/
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Old 12-09-2004, 12:52 PM   #4 (permalink)
 
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Use the search functions up there ^ You may find many more threads with the same question beiong answered.

Qtee
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Old 12-09-2004, 08:56 PM   #5 (permalink)
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Do your homework..like they said.

If and when you are ready to look ...
check out this site
http://www.salonsforsale.com/forsale.php

Fill out the state you are looking for and it will pull up a listing of all the salons from 'Michigan' that are for sale. Check in your Sunday Papers salon owner list for sale there too. Under business opportunities.
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Old 12-09-2004, 11:51 PM   #6 (permalink)
 
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It's the 3 R's to starting a tanning salon...guaranteed to work everytime...

Read Read Read...Research Research Research...than...Run Run Run!!!!!
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Old 12-10-2004, 09:51 PM   #7 (permalink)
 
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Build or Buy?
Looking at 1200 Square Ft Facility with 5 Beds/1 Stand up and a Spray Booth and Room for additional Stand up or Mystic. Favorable Rent and claims Revenue in excess of $100k with Net over $40k. Selling Price around $100k. Any thoughts?
Also, what is the average "Net Profit as a percentage of Sales."
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Old 12-10-2004, 11:59 PM   #8 (permalink)
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100K for 5 beds, a stand-up and a spray booth? How old is the equipment, what type beds, are the lamps new or needs new lamps, how about the acrylics?

Do you get their inventory of lotions, lamps, parts, etc? How much is that worth?

How about computer(and data base)?

Assuming their lease or negotiating a new one? If assuming, when is it up? What is "favorable rent"? With 7 beds and 1200 s.f. and claimed revenue of 100K, wouldn't want the TOTAL to be more than about 1K/mo or $10/s.f.

What is the electric and AC currently? Does it support adding another bed? Does the one current stand-up and one current spray tan do enough business that it would be worth having two of either of them?

Why are they selling? What is their reputation with customers? How long as the salon been there? How many total tanners in the database? How many that have tanned in the last 6/12 months? How many have open packages (would you be responsible for honoring these?)?

Would this be the location you would select if you were to build? Is there a location available to build that you love and think would do well?

Do you have the cash flow (and/or loanability) to do a build-out? Could you wait a year or more and then get it?

When would the sale take place if an existing business - now, or after they get the "advantage" of the busy season?

Would you be happy making 40K/year net? Is that with them running it full-time or paying employees to run it? If they have employees, what do you think of them? Would they be an asset to retain? Is the current management style and employee rules similar to what you would do?

How long in business? Have you seen 3 years of certified tax returns to know what revenue is?

Is the pricing, advertising, levels of beds, atmosphere,...the "approach" substantially similar to what you would do if you would do it yourself from scratch (note: I didn't mention decorating. That should be the least of your focus - it is all changeable! But people fall in love with a "look" they can picture as their own and get blinded!)

That's some ideas about where I start...



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Old 12-11-2004, 09:35 AM   #9 (permalink)
 
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That's good stuff there. Also, some tanning salons are in areas that are REAL CONSERVATIVE and the location itself can be the most value. Small towns are not the same as the big cities. You might find out the townees voted against anymore salons due to the fear of microwaveing your organs or some nonsense.
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Old 12-23-2004, 03:00 PM   #10 (permalink)
 
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Very good advice. Once you have figured where you would like to have your salon check out the competition. That is what one our new clients has done. Colleges are a great place to start! Good luck!
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