Salon for Sale - Page 2

nosreba · 11-28-2004, 05:15 PM

Thanks for all your comments. No, my partner was not on my lease. Where is the best place to shop for used beds? What is a reasonable overhead, around $5,000? What is a reasonable start-up cost? I want to get this salon started if at all possible because the location is so awesome. I'm looking to obtain more financial support so if you guys could give me some feedback on the costs, I would certainly appreciate it! If I can't get it started up, I am going to try to sell after the build-out. You all keep your fingers crossed for me! I don't want to end up with nothing!

nosreba · 11-29-2004, 09:41 AM

I am required to do the build-out and I have managed to get it down from $39,000 to $26,000. Is this reasonable? Should I go ahead with the build-out before I try to sell?

*Jancy* · 11-29-2004, 10:13 AM

You might consider locating a Angel investor. An angel is a person who is like a silent partner, who loans you money for a specific period of time, but stays in contact with you to mentor you thru the growing years of your business. Once you pay off the angel you are done with the loan. Angel's like to stay very quiet with their money, and are difficult to find. Usually people with money to burn, but interested in helping others.... so if you have any background with any civic organizations (Masons, Eastern Star, Elks, or Rotary) or belong to any large clubs, service organizations or college frat's you will have a better time getting help from an Angel. Start looking at the internet, at business journels, your local chamber of commerce.
I'd also suggest hooking up with a business broker. There are brokers out there who do nothing more than sell tanning salons and beauty shops, and this person can connect you to an interested buyer who might also want to partner instead.

OTM DALLAS · 11-29-2004, 05:21 PM

$10k is high, but is that $10k hard including paying you? Generally I operate on anywhere from 18 - 22k per store with 15 - 18 beds and that includes paying my salary. Partners are ok as long as you have all of the say so, no voting shares for the partner just a return on investment. I don't know how well 7% will go over, I have investors and their deal is 30% in 3 years and they are not on every corner.

Steve Underhill · 12-03-2004, 11:34 AM

Please call me. I will try to help. You must continue somehow, you have signed a lease and you now owe that money. To quit now will bankrupt you.

timeout888 · 12-03-2004, 01:20 PM

Get modular walls. They will cost at most $1300 a room!

JohnnyComeLately · 12-07-2004, 12:52 PM

I'd agree with timeout. After doing demolition from the previous owner's buildout, I'd go with modulars. You can re-do things much faster and cheaper with modular walls. Also, no permits needed oftentimes.

nosreba · 12-07-2004, 06:54 PM

Thank you so much for all your input. I have spoken with my Landlord about my situation and he is trying to help me find someone to take over my lease. He has been very understanding and helpful and I do believe he is trying to help me. On the contrary, I would be going bankrupt if I continued this venture. I don't have the revenue to get it going on my own. If any of you hear of anyone interested in starting a tanning salon, please let me know! I have the architect plans (if interested) and the building permit. The sign will be going up soon - it reads "TAN". It is ready for build-out which is $26,000 for 12,000 square feet and 10 rooms being built. It already has a restroom and is wired with 7 tons of air and 450 amps of electricity. If you or anyone else you know is interested in opening a tanning salon in the Canton area, please let me know. Again, it is an awesome, awesome location and I know it's going to take off! There are no other tanning salons within a 15 mile radius - schools are close by as well as old and new subdivisions. This is definitely a wonderful opportunity for someone. Thanks again for all your feedback! I appreciate all of it and I wish you all the best in your tanning business!

studio 102 · 12-09-2004, 04:37 AM

how much is the rent???
12,000 sq ft seems like a great deal of space..

timeout888 · 12-09-2004, 08:06 AM

10 rooms, $26,000. Forget it. Save around 16k and go with tanwall or eurowall, or something. That 16k should be enough motrivation to keep going. As for the 10k overhead a month, you must be putting in all HP. I agree with studio, 12,000 sq ft. ?????? You could fit like 80 beds.

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11-28-2004, 05:15 PM	#11 (permalink)
nosreba Join Date: Nov 24 2004 Posts: 7 Rep Power: 0	Thanks for all your comments. No, my partner was not on my lease. Where is the best place to shop for used beds? What is a reasonable overhead, around $5,000? What is a reasonable start-up cost? I want to get this salon started if at all possible because the location is so awesome. I'm looking to obtain more financial support so if you guys could give me some feedback on the costs, I would certainly appreciate it! If I can't get it started up, I am going to try to sell after the build-out. You all keep your fingers crossed for me! I don't want to end up with nothing!

11-29-2004, 09:41 AM	#12 (permalink)
nosreba Join Date: Nov 24 2004 Posts: 7 Rep Power: 0	I am required to do the build-out and I have managed to get it down from $39,000 to $26,000. Is this reasonable? Should I go ahead with the build-out before I try to sell?

11-29-2004, 05:21 PM	#14 (permalink)
OTM DALLAS Join Date: Jan 13 2004 Posts: 171 Rep Power: 5	$10k is high, but is that $10k hard including paying you? Generally I operate on anywhere from 18 - 22k per store with 15 - 18 beds and that includes paying my salary. Partners are ok as long as you have all of the say so, no voting shares for the partner just a return on investment. I don't know how well 7% will go over, I have investors and their deal is 30% in 3 years and they are not on every corner.

12-03-2004, 11:34 AM	#15 (permalink)
Steve Underhill Join Date: Apr 21 2004 Location: Frisco, TX Age: 57 Posts: 623 Rep Power: 5	Please call me. I will try to help. You must continue somehow, you have signed a lease and you now owe that money. To quit now will bankrupt you.

12-03-2004, 01:20 PM	#16 (permalink)
timeout888 Join Date: Jan 26 2004 Age: 29 Posts: 490 Rep Power: 5	Get modular walls. They will cost at most $1300 a room!

12-07-2004, 12:52 PM	#17 (permalink)
JohnnyComeLately Join Date: Oct 2 2004 Location: San Diego Age: 38 Posts: 905 Rep Power: 5	I'd agree with timeout. After doing demolition from the previous owner's buildout, I'd go with modulars. You can re-do things much faster and cheaper with modular walls. Also, no permits needed oftentimes.

12-07-2004, 06:54 PM	#18 (permalink)
nosreba Join Date: Nov 24 2004 Posts: 7 Rep Power: 0	Thank you so much for all your input. I have spoken with my Landlord about my situation and he is trying to help me find someone to take over my lease. He has been very understanding and helpful and I do believe he is trying to help me. On the contrary, I would be going bankrupt if I continued this venture. I don't have the revenue to get it going on my own. If any of you hear of anyone interested in starting a tanning salon, please let me know! I have the architect plans (if interested) and the building permit. The sign will be going up soon - it reads "TAN". It is ready for build-out which is $26,000 for 12,000 square feet and 10 rooms being built. It already has a restroom and is wired with 7 tons of air and 450 amps of electricity. If you or anyone else you know is interested in opening a tanning salon in the Canton area, please let me know. Again, it is an awesome, awesome location and I know it's going to take off! There are no other tanning salons within a 15 mile radius - schools are close by as well as old and new subdivisions. This is definitely a wonderful opportunity for someone. Thanks again for all your feedback! I appreciate all of it and I wish you all the best in your tanning business!

12-09-2004, 04:37 AM	#19 (permalink)
studio 102 Waiting Confirmation Join Date: Apr 1 2004 Posts: 457 Rep Power: 0	how much is the rent??? 12,000 sq ft seems like a great deal of space..

12-09-2004, 08:06 AM	#20 (permalink)
timeout888 Join Date: Jan 26 2004 Age: 29 Posts: 490 Rep Power: 5	10 rooms, $26,000. Forget it. Save around 16k and go with tanwall or eurowall, or something. That 16k should be enough motrivation to keep going. As for the 10k overhead a month, you must be putting in all HP. I agree with studio, 12,000 sq ft. ?????? You could fit like 80 beds.

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