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08-06-2009, 10:05 AM | #1 (permalink) |
Join Date: Jul 7 2009 Location: NC
Posts: 46
Rep Power: 0 | Need to know how to price salon I am a newbie. I am in the process of trying to buy a salon in my area. It has 5 beds and spray tan . How do you really come up with a fair price for a salon?? How do you know how much beds now are worth?? The beds are as follows Manufacturer- American Quality (all beds) (Green bed) model #- 23-46-4vhr Model name- Perfect Tan Bed # of lamps- 35 (no facial) Very good condition, works properly. May 2004 (Purple bed) model #-23-46-4vhr Model name- Perfect Tan Bed # of lamps- 35 (no facial) Works properly, only thing wrong is lid shock (just needs to be replaced) May 2004 (Yellow bed) model # 23-46-4vhr Model name- Perfect Tan Beds # of lamps- 35 (no facial) Very good condition, works properly (needs a new top acrylic) (Orange bed) model # 16-32-1 Model name- Perfect Tan Beds # of lamps- 28 (no facial) Very good condition, works properly Aug 2002 (Blue bed) model #- 16-32-1 Model name- Perfect Tan Beds # of lamps- 28 (no facial) Very good condition, works properly June 2003 |
08-06-2009, 10:29 AM | #2 (permalink) |
I love Derf!! Join Date: Feb 10 2006 Location: Toronto, Canada
Posts: 931
Rep Power: 20 | Re: Need to know how to price salon salon full of base beds with no facials is worthless when it comes to equipment value. All those beds are worth maybe $3000 total for all 5 beds. (Not each....but total)
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08-06-2009, 10:35 AM | #3 (permalink) |
Join Date: Jul 7 2009 Location: NC
Posts: 46
Rep Power: 0 | Re: Need to know how to price salon I understand that...but where do you get this info?? Is there a resell book. I need to know where or how to get the info so I can inform the current owners that there business is worth X amount of dollars |
08-06-2009, 11:23 AM | #4 (permalink) |
Guest Join Date: Apr 29 2001 Location: Stewartsville, NJ Age: 55
Posts: 3,121
Rep Power: 0 | Re: Need to know how to price salon What is the gross and net imcome? What is it for the past three years? What does the tax returns say, not the owners second set of books? Beds are Boat Anchors. How much electric is there? How much A/C is there? How much parking? How many "active" clients are there? not how many in data base but how many that are active? Have you negotiated a number to honor current packages that owner collected money for? Do you have any idea how to run a business? Have you taken a course in management? How many salons in the area? Have you run the demographics for the area? How many years is it in business? Why are they selling? |
08-06-2009, 03:43 PM | #5 (permalink) |
Join Date: Jul 7 2009 Location: NC
Posts: 46
Rep Power: 0 | Re: Need to know how to price salon What is the gross and net imcome? Her accountant is getting me that info What is it for the past three years? Same as above What does the tax returns say, not the owners second set of books? same Beds are Boat Anchors. How much electric is there? she doesn't know. How do I figure this out? How much A/C is there? Same as above How much parking? Enough How many "active" clients are there? not how many in data base but how many that are active? 200 Have you negotiated a number to honor current packages that owner collected money for? Will take off asking price Do you have any idea how to run a business? Sure Have you taken a course in management? I managed a salon in NY How many salons in the area? 2 Have you run the demographics for the area? Yes How many years is it in business? 7 Why are they selling? Owners are in military and say it is to much for them to be over seas and noone here to take care of it. |
08-06-2009, 03:45 PM | #6 (permalink) |
Join Date: Jul 7 2009 Location: NC
Posts: 46
Rep Power: 0 | Re: Need to know how to price salon In reference to the A/C...how do I figure out how much A/C it has and how much do I need for a 5 bed 800sq. ft place? Also, same question fort he electrical...how do I figure out if the electrical is sufficent?? |
08-06-2009, 04:18 PM | #7 (permalink) |
Join Date: May 20 2003
Posts: 9,301
Rep Power: 29 | Re: Need to know how to price salon If the place has been in business for more than 2months then it's probably fine. If the place is constantly burning to the ground then I'd look a little further into the situation. If you are buying a salon and we are talking under $30K or so forgetaboutit with the nitpicking. If the salon was up to standards of having 1000amp electric and 40tons of a/c the place wouldn't be so cheap and/or run beds that are just basic. You are buying revenue. How you make that revenue is up to you after you buy the place. as for "Have you negotiated a number to honor current packages that owner collected money for? Will take off asking price" That's a bunch of ******** as it costs WAY MORE to gain new clients than it does to just resign the current clients. Are they asking for you to cover their already paid for advertising campaigns and clients they have already paid to secure? I doubt it. Makes more sense than looking for refunds for current packages in my opinion. |
08-06-2009, 04:26 PM | #9 (permalink) |
Join Date: Jul 7 2009 Location: NC
Posts: 46
Rep Power: 0 | Re: Need to know how to price salon As far as electrical goes....I may be putting a couple of high pressure beds in and want to make sure I have enough juice. How do I find out how much electrical is there? |
08-06-2009, 04:30 PM | #10 (permalink) |
Join Date: May 20 2003
Posts: 9,301
Rep Power: 29 | Re: Need to know how to price salon You don't have enough. A couple HP beds will need 6tons of air and 300amps over what the salon currently needs. There is no reason to have this in an 800sqft salon that needs maybe 150amps and 3tons of air. That's like having a 800gallon gas tank in a stock bare bones honda civic. You are talking about $100K in just equipment, a/c if it's even possible. If this place was previously a pizza place or equiv that used all electric ovens/etc then MAYBE it's there. |
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