Go Back   tanTALK - Tanning Salon Business Owners Community > TanTalk Central > New To The Tanning Business

New To The Tanning Business Interested or Future Salon Business Owners discuss Topics Here and Ask Questions To The Pros.

Reply
 
LinkBack Thread Tools
Old 02-21-2012, 12:25 PM   #1 (permalink)
 
Join Date: Feb 21 2012
Posts: 20
Rep Power: 0 Queenie14 is on a distinguished road
Question Help with salon value!!!

Hello,

I am interested in buying a tanning salon in PA. The seller is asking $25k but her income tax return shows about 25500, but she flat out told me she takes almost all cash out and she took home $20k cash last year. She has been in business for 12 years.

She has 4 beds.
1 & 2.) 2 Wolfe beds that are 12 years old. One is a Sunstar zx30 3f
the other Wolfe is a stand up

3.) Mega Sun which is 8 years old (stand up)

4.) Ovation which is 5 years old and has 32 bulbs.

These beds are in perfect shape.
She does have all kinds of lotion and she was getting another shipment in today.


Should I be weiry of this? Her hours right now are very small, M-F 10-6 and Saturday 10-1. There are 15 salons in the area, this includes hair salons with tanning. Most are small but there are two that are very large.

If I were to purchase this salon I would extend the hours first thing.


HELP please!! I know this isn't a large amount of money, but still.
Queenie14 is offline   Reply With Quote
Old 02-21-2012, 01:29 PM   #2 (permalink)
Team TanTalk
 
Robert K's Avatar
 
Join Date: Aug 27 2002
Location: East Coast
Age: 56
Posts: 2,888
Rep Power: 22 Robert K will become famous soon enough
Re: Help with salon value!!!

How much is she grossing?
__________________
Robert Klem
Superior UV Technologies
(888) 526-7712 x77
robertk@superioruv.com
Robert K is offline   Reply With Quote
Old 02-21-2012, 01:34 PM   #3 (permalink)
 
Join Date: Feb 21 2012
Posts: 20
Rep Power: 0 Queenie14 is on a distinguished road
Re: Help with salon value!!!

She is saying on paper it is $25k. She doesn't keep very good records, which scares me. Just as I previously stated, she told me she took out almost all cash for herself which is an additional $20k. She doesn't have a computer system but does us a T-max timer system. She can only give me her income tax amount.
Queenie14 is offline   Reply With Quote
Old 02-21-2012, 01:58 PM   #4 (permalink)
Team TanTalk
 
Join Date: Nov 23 2004
Location: ITA Member & Berman Supporter!
Posts: 3,136
Rep Power: 25 sunsally has a reputation beyond repute sunsally has a reputation beyond repute sunsally has a reputation beyond repute sunsally has a reputation beyond repute sunsally has a reputation beyond repute sunsally has a reputation beyond repute sunsally has a reputation beyond repute sunsally has a reputation beyond repute sunsally has a reputation beyond repute sunsally has a reputation beyond repute sunsally has a reputation beyond repute
Re: Help with salon value!!!

How much is the rent?

Is there room to do anything else there beside offer 4 tanning beds? (other services, products, another business,...). How many amps of electrical service is there and how many tons of HVAC?


Would you be working the salon yourself? If so, would you have to be quitting an existing job to work here instead?
sunsally is offline   Reply With Quote
Old 02-21-2012, 02:14 PM   #5 (permalink)
 
Join Date: Feb 21 2012
Posts: 20
Rep Power: 0 Queenie14 is on a distinguished road
Re: Help with salon value!!!

Quote:
Originally Posted by sunsally View Post
How much is the rent?

Is there room to do anything else there beside offer 4 tanning beds? (other services, products, another business,...). How many amps of electrical service is there and how many tons of HVAC?


Would you be working the salon yourself? If so, would you have to be quitting an existing job to work here instead?
The rent is $600 a month. The landlord pays water and sewage.
There is room for one more bed. Everything is on 220amps. Two of the bed have 160 watts other two are 100 watts.
The previous owner has 5 window AC units, which is not my preference.

I would be working at the salon 2 days during the week and Saturday and Sunday. I do currently have a full time position, that I am not looking to leave, but the company I work for is on rocky ground so to be honest it is just a matter of time. If the company I am currently employeed with goes under, I would work there full time.
Queenie14 is offline   Reply With Quote
Old 02-21-2012, 02:45 PM   #6 (permalink)
Guest
 
Join Date: Apr 29 2001
Location: Stewartsville, NJ
Age: 55
Posts: 3,121
Rep Power: 0 Brian Oshman has a reputation beyond repute Brian Oshman has a reputation beyond repute Brian Oshman has a reputation beyond repute Brian Oshman has a reputation beyond repute Brian Oshman has a reputation beyond repute Brian Oshman has a reputation beyond repute Brian Oshman has a reputation beyond repute Brian Oshman has a reputation beyond repute Brian Oshman has a reputation beyond repute Brian Oshman has a reputation beyond repute Brian Oshman has a reputation beyond repute
Re: Help with salon value!!!

RUN!!!!!!!!!
Brian Oshman is offline   Reply With Quote
Old 02-21-2012, 03:55 PM   #7 (permalink)
 
Join Date: Feb 21 2012
Posts: 20
Rep Power: 0 Queenie14 is on a distinguished road
Re: Help with salon value!!!

Quote:
Originally Posted by Brian Oshman View Post
RUN!!!!!!!!!
Hi Brian,

Can I ask why? I appreciate your response but just want a reason.


Thanks!
Jo
Queenie14 is offline   Reply With Quote
Old 02-21-2012, 04:08 PM   #8 (permalink)
 
Join Date: Feb 21 2012
Posts: 20
Rep Power: 0 Queenie14 is on a distinguished road
Re: Help with salon value!!!

Just stopped in.. she is open from 10-6 right now. She had 18 scheduled appts today. I was there for about 20 mins and she had 4 walk in.

She said that this is normal and has 35 monthly packages as of right now. She said that things will start picking up March, at that point she requires appointments.

She has an okay amount of lotion, but it is not marked up to what suggested retail is.
Queenie14 is offline   Reply With Quote
Old 02-21-2012, 04:10 PM   #9 (permalink)
 
Join Date: Feb 21 2012
Posts: 20
Rep Power: 0 Queenie14 is on a distinguished road
Re: Help with salon value!!!

oh ya... and she has never advertised. And I can believe that, because I have lived in the area my entire life and have never seen any advertisment.

I used to tan there it has been about 4 or 5 years, at that time I loved it. It was very busy and I got really good color.
Queenie14 is offline   Reply With Quote
Old 02-21-2012, 05:48 PM   #10 (permalink)
 
Join Date: Jan 30 2008
Location: michigan
Posts: 792
Rep Power: 17 sunrisetan is on a distinguished road
Re: Help with salon value!!!

you'd be better off opening your own salon and having better equipment. 25k for what? the beds are worth nothing. there's not enough clients to be perceived as value. just wait til a salon close's...go in and start paying rents...you'd have the build out all done and just need new beds and pc.
sunrisetan is offline   Reply With Quote
Reply

Bookmarks



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Similar Threads
Thread Thread Starter Forum Replies Last Post
Indiana Tanning Salon/Hair Salon for Sale lilly For Sale - FOR SALON OWNERS ONLY 12 11-12-2011 05:48 PM
Tanning Salon / Hair Salon / Day Spa For Sale lilly For Sale - FOR SALON OWNERS ONLY 0 06-04-2009 10:36 AM
Hair Salon/tanning salon program bethbussard Technology Forum 3 09-25-2007 09:20 AM
When Opening a New Salon Or Buying An Existing Salon Steve Underhill New To The Tanning Business 0 09-21-2007 11:16 AM
SALON 4 SALE IN FAIRFIELD NJ ONLY SALON IN TOWN sunworx salon For Sale - FOR SALON OWNERS ONLY 0 11-16-2005 08:17 PM


All times are GMT -5. The time now is 04:49 AM.


Powered by vBulletin® Version 3.7.2
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0
Copyright 2009 - tanTALK.com

click here for advertising info!