ljsun

Looking for some constructive advice on a possible salon venture in the NW. I've browsed around on here a bit but wanted thoughts on the specifics of this salon. Any help is appreciated!!
The salon has been open for about 9 years, 3 owners with the current one having it for about the last 3 years.
Three levels of tanning, including 8 total UV beds (1 is a stand up) and one spray tan booth. Don't have specifics on all beds yet however under the impression they are on the higher end of the scale.
There are a lot of gaps in the information I have received thus far but will update as I receive more. I have a meeting with the owner next week....
Asking price of the salon is $89,900 and it is part of a franchise.
In 2012 the salon brought in $152,679.00
$38,500 - wages (of this $12,000 was paid to the owner)
EPITDA $35,000
The owner states he brings in $35k-40k a year
$2300-$3000 in EFTs monthly.
Thank you in advance!

tanu01

Not enough info............... Not enough income.

ljsun

I know I need a ton more information and i'll be obtaining that this coming weekend. Including brreakdown of all expenses: rent, electricity, etc etc, Bed models.
This is all new to me, and i know i really have to wonder why somebody would want to sell a salon that brings in a significant profit...Which makes me think maybe it isn't such a good deal after all..But could it have potential is what i question. My sister and I do want to work at the salon for the most part, but still wondering if we would be "buying ourselves a minimum wage job" as I have seen mentioned on several previous threads..
Thanks again, will post more info at is becomes available.