11-07-2010, 09:48 PM | #1 (permalink) |
Join Date: Nov 2 2010 Location: California
Posts: 10
Rep Power: 0 | Looking at pre-established salon for sale! HELP! Hey everyone, My mother and I are looking into buying a pre-existing tanning salon. Originally they were asking 112k but now only want 55k for it after I've watched it for months. They currently have crap beds (no levels) just 5 20min and 1 10min standup. I'm looking to revamp and bring in ergoline equipment as well as and infinity sun spray system and do a remodel (paint, decor, etc) We meet with the realtor again this friday and he will be providing us with financials etc. At this point we would be the ONLY salon with a 60mi radius with new equipment and although it is expensive to do this I know we will make the money because competitors in the area are charging ridiculous amounts of money for out dated beds and still making it (I know this b/c I currenty work for competitor) This place just needs some sprucing up and a new theme. I plan on leaving two of the beds in there for the first 90 days to honor current packages and giving free upgrades and then ripping them out. I know people will want to use the new beds it's all I hear about. I have a few questions... What company should I use for EFT? I want to close for two weeks to do the painting etc but my mom wants to stay open? How do I get around painting and remodeling stuff when we're open? Do you think this is a good idea? I don't want to hear negative comments about the economy and crap if something is done right people will tan. The proof is in my current customer base. I love this industry and this is where I'll spend my life. Advice? |
11-07-2010, 11:41 PM | #2 (permalink) |
Join Date: Dec 20 2004 Location: virginia Age: 44
Posts: 238
Rep Power: 20 | Re: Looking at pre-established salon for sale! HELP! All the EFT companies are about the same. You can use Helios and do it yourself or use someone like GMS or AAC which is who we use. This time of year you will need all the money you can get so I wouldn't close if I didn't have to. You can paint late at night and early in the mornings...get used to it, there will be many, many long nights! Good luck. BTW...$55k sounds ridiculously high for the contents you named. If you're getting rid of it anyway than what are you paying for, the customers? If you're saying they will come just b/c of new beds then you need to save your $55k and open in a different location and put that money towards the equipment. I am a much bigger fan of taking over another salon as opposed to opening one from the ground up but what you listed doesn't seem like a very good deal to me... JMO :) |
11-10-2010, 12:31 PM | #4 (permalink) |
Join Date: Nov 2 2010 Location: California
Posts: 10
Rep Power: 0 | Re: Looking at pre-established salon for sale! HELP! Thanks for all the feedback! We decided to open from ground up but now we're running into issues finding a space. A lot of retail people don't want tanning salons and or don't want to split their giant spaces up. GRRRRR! You'd think with 8 open retail spaces they'd want the money and not be picky. |
11-20-2010, 05:34 AM | #6 (permalink) |
Join Date: Nov 19 2010 Location: GA
Posts: 933
Rep Power: 14 | Re: Looking at pre-established salon for sale! HELP! A lot of property managers do not want tan salons located within the premises because of the high-rate of failure within the industry. Having retail property which sits vacant, is better than filling it with a business that is industry related to a high turn-over rate. When a biz fills a space, only to abruptly close/leave within the year or two, it causes more of a (psychological) black eye on the whole community and the management. It sends out a (wrong) message that says, management is bad/community does not support local economy/businesses. You'd have a better chance opening a tattoo studio-they are more in vogue today and more accepted |
12-07-2010, 02:04 PM | #7 (permalink) |
Join Date: Nov 2 2010 Location: California
Posts: 10
Rep Power: 0 | Re: Looking at pre-established salon for sale! HELP! We are in the midst of negotiating our lease now. We've hit a lot of snags but I know in my gut with my knowledge of the industry and the demographic here we will do well it's just amatter of all the small things now. We're going to be the only salon with the equipment we have in this side of the state. I'm really excited. |
12-07-2010, 05:30 PM | #8 (permalink) |
Join Date: Nov 3 2008 Location: East Coast
Posts: 357
Rep Power: 16 | Re: Looking at pre-established salon for sale! HELP! I paid someone to paint my salon last year. (I have 17 rooms, and I HATE painting. It was worth the money for me!) We stayed open the whole time. He would do a few rooms at a time, and we'd just close down those rooms for the day/a few hours. I also made sure to do it during the slow season, so it wouldn't be that big of a deal. It worked out fine. Be sure to post before and after pics! |
12-08-2010, 07:28 PM | #9 (permalink) |
Join Date: Nov 2 2010 Location: California
Posts: 10
Rep Power: 0 | Re: Looking at pre-established salon for sale! HELP! Well We decided to do ground up. I'm going with Tanwall but I am painting murals myself and doing the floor mysellf with stencils etc. SUPER EXCITED!!! It's gonna look great and I will be hiring my family to help me for free hahaha. I will post pics of our finished salon on here soon. |
12-14-2010, 12:48 PM | #10 (permalink) | |
Join Date: Aug 29 2010 Location: iowa
Posts: 218
Rep Power: 0 | Re: Looking at pre-established salon for sale! HELP! Quote:
Anyway, let me know how far you have gotton and when do you hope to open. Maybe we could mentor each other. | |
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