Can I make $$ ???? - tanTALK

radiant · 08-13-2005, 08:28 PM

I am about to buy an existing salon and need some advice please. This salon has 7 soltech pro beds that are approx 1 year 6 months old. Current owner has year and half left on a $800 per month lease in a nice building that is only 2 yr old. Town only has about 4300 people and there is a nail salon about a block away with 2 tanning beds. The financial records for this business are not kept correctly so I can not tell what the actually profit to be. I have seen the sign in sheets and it seems that about 115 customers per day came in during busy season and they are averaging about 20 per day now. There are no lotions included in this deal as they have not bothered to restock once they decided to sell. Tmax is not currently set up and they are NOT accepting EFT or credit cards. What do you guys think is a good offer to make for this business and does it sound possible to make $$? Any help is appreciated.

safaritazn · 08-14-2005, 07:06 AM

I don't know sounds to shady to me. You are going to have to sit in front of his store for 2 weeks and see what walks in the door. Why is he selling after such a short go? Are the beds paid for? What size AC unit does he have? You would at least want to go through his check book and look at his expenses per month. Check out his deposit slips, credit card tapes etc. You really have a lot of DD to do. But it doesn't sound kosher to me.

radiant · 08-14-2005, 09:11 AM

He bought the salon for his daughter who was in a car accident and he says she can no longer work. The beds are paid for and seem to be in good condition but the bulbs have not been changed in awhile, if at all. There is not a credit card machine as they currently only accept cash or checks and NO EFT customers. His ac unit is a 5 ton and he says his electric bill during summer months was running him about $500 per month. I have mixed emotions on this purchase since there is a new shopping center across the street and no tenants yet. Worried that a Plant Tan will be put there since they are branching out. This salon is small but did have a fair amount of customers come in while I was there yesterday. This salon is NOT on the main road but does have a nail salon next door. Lots of new houses starting in the upper $180's are being built down this same street. Would you purchase it with what information we have?

Neon Beach · 08-14-2005, 09:15 AM

Does Planet Tan go into smaller communities?

radiant · 08-14-2005, 09:49 AM

They seem to be branching out to the north of Dallas into the smaller area. The city this salon is in is south of Dallas.

Neon Beach · 08-14-2005, 09:52 AM

8astards.

radiant · 08-14-2005, 10:08 AM

Should I buy and take the chance or pass?

Neon Beach · 08-14-2005, 10:14 AM

I wouldn't know what to do. I'm not a gambler though.

West Side Tanner · 08-14-2005, 11:12 AM

A/C is too small.

radiant · 08-14-2005, 01:30 PM

A/c is to small for a 900 square foot location?

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08-13-2005, 08:28 PM	#1 (permalink)
radiant I'm Banned Join Date: Aug 13 2005 Age: 49 Posts: 12 Rep Power: 0	I am about to buy an existing salon and need some advice please. This salon has 7 soltech pro beds that are approx 1 year 6 months old. Current owner has year and half left on a $800 per month lease in a nice building that is only 2 yr old. Town only has about 4300 people and there is a nail salon about a block away with 2 tanning beds. The financial records for this business are not kept correctly so I can not tell what the actually profit to be. I have seen the sign in sheets and it seems that about 115 customers per day came in during busy season and they are averaging about 20 per day now. There are no lotions included in this deal as they have not bothered to restock once they decided to sell. Tmax is not currently set up and they are NOT accepting EFT or credit cards. What do you guys think is a good offer to make for this business and does it sound possible to make $$? Any help is appreciated.

08-14-2005, 07:06 AM	#2 (permalink)
safaritazn Join Date: Aug 3 2005 Location: Mahopac, NY Age: 54 Posts: 190 Rep Power: 22	I don't know sounds to shady to me. You are going to have to sit in front of his store for 2 weeks and see what walks in the door. Why is he selling after such a short go? Are the beds paid for? What size AC unit does he have? You would at least want to go through his check book and look at his expenses per month. Check out his deposit slips, credit card tapes etc. You really have a lot of DD to do. But it doesn't sound kosher to me.

08-14-2005, 09:11 AM	#3 (permalink)
radiant I'm Banned Join Date: Aug 13 2005 Age: 49 Posts: 12 Rep Power: 0	He bought the salon for his daughter who was in a car accident and he says she can no longer work. The beds are paid for and seem to be in good condition but the bulbs have not been changed in awhile, if at all. There is not a credit card machine as they currently only accept cash or checks and NO EFT customers. His ac unit is a 5 ton and he says his electric bill during summer months was running him about $500 per month. I have mixed emotions on this purchase since there is a new shopping center across the street and no tenants yet. Worried that a Plant Tan will be put there since they are branching out. This salon is small but did have a fair amount of customers come in while I was there yesterday. This salon is NOT on the main road but does have a nail salon next door. Lots of new houses starting in the upper $180's are being built down this same street. Would you purchase it with what information we have?

08-14-2005, 09:15 AM	#4 (permalink)
Neon Beach Join Date: Nov 30 2000 Location: Ontario Age: 61 Posts: 38,594 Rep Power: 107	Does Planet Tan go into smaller communities?

08-14-2005, 09:49 AM	#5 (permalink)
radiant I'm Banned Join Date: Aug 13 2005 Age: 49 Posts: 12 Rep Power: 0	They seem to be branching out to the north of Dallas into the smaller area. The city this salon is in is south of Dallas.

08-14-2005, 09:52 AM	#6 (permalink)
Neon Beach Join Date: Nov 30 2000 Location: Ontario Age: 61 Posts: 38,594 Rep Power: 107	8astards.

08-14-2005, 10:08 AM	#7 (permalink)
radiant I'm Banned Join Date: Aug 13 2005 Age: 49 Posts: 12 Rep Power: 0	Should I buy and take the chance or pass?

08-14-2005, 10:14 AM	#8 (permalink)
Neon Beach Join Date: Nov 30 2000 Location: Ontario Age: 61 Posts: 38,594 Rep Power: 107	I wouldn't know what to do. I'm not a gambler though.

08-14-2005, 11:12 AM	#9 (permalink)
West Side Tanner Join Date: Dec 27 2003 Location: Florida Posts: 1,818 Rep Power: 21	A/C is too small.

08-14-2005, 01:30 PM	#10 (permalink)
radiant I'm Banned Join Date: Aug 13 2005 Age: 49 Posts: 12 Rep Power: 0	A/c is to small for a 900 square foot location?

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