Salon for Sale

nosreba · 11-24-2004, 04:58 PM

I am looking for someone to partner with or to take over my lease. I have leased a space in a Public's shopping center in Canton, Georgia. My partner has bailed on me and I am left with a financial struggle. I have already put in 450 amps of electricity and 7 tons of air to get started. I have the architect plans and the building permit. I have 6 beds lined up to be delivered in late December from Sonnenbraume, Inc. I don't have the funds to continue. This is an AWESOME, AWESOME, AWESOME location. There are no other tanning salons within a 15 mile radius. There are schools all around and new subdivisions being build as well as established ones. HELP!

aberson@bellsouth.net

zectasy · 11-25-2004, 12:37 AM

id suggest to try and find a family member to join you...if not find a friend...i wouldnt really trust or wanna deal with co-owning a business with some random person

the tanning guy · 11-25-2004, 07:46 AM

Downsize and buy used beds so you can afford to go it alone partners are for socks and shoes!!

MATT A · 11-25-2004, 12:30 PM

Sell your build out.

zectasy · 11-25-2004, 01:32 PM

used beds wouldnt be a bad option...i know the beds we use in our salon usually go for 3-4k each...i saw them used on ebay for 1500...thats not bad at allll...and plus with tan america everything is pretty easy to replace...

nosreba · 11-26-2004, 01:48 PM

Do you think it's easier to sale a salon AFTER the build-out? My husband was thinking I should try and get someone to take over the lease BEFORE the build-out since most people want to build it "their way".

I'm thinking of getting a silent partner (friend) to invest and I would pay back in installments with maybe a 7%? interest rate over a period of 5-10 years (to be paid off ASAP). I'm also definitely going to consider used beds to lower my start-up costs and monthly overhead. Right now I'm looking at around $10,000/month overhead. Does anyone have an overhead that high and if so, is it hard to make ends meet compared to your monthly income?

lil_missfit · 11-26-2004, 01:50 PM

$10,000/mo overhead? I couldn't imagine, find a way to lower your monthly overhead. Was your partner on the lease also?

engfant · 11-26-2004, 01:58 PM

that's WAY too high to expect. ESPECIALLY for a 6 bed salon. $10K/month if you are the BEST at what you do.

suntanztanning · 11-26-2004, 10:48 PM

6 beds and 10K a month?.......stop now while you still can......no way you'll ever see a return! You are at least 50% high!

MJ · 11-27-2004, 05:23 AM

10 k!!!!
Please, please please do not believe what the MFG's/ bed leasing companies tell you will be your yearly gross on thier units.
They often and misleadingly quote the highest priced salon they can find in their data base that they leased to. Somewhere, like Manhatten( sp?),New York or Upscale areas of California. Know your market. because the truth issometimes they just plain lie to get you to lease the bed. They know you will not get 50 people a day paying 30 bucks a pop. They simply do not care it is thier job to lease beds..how you make the payments is your problem. You lose in the end.
They know very well what your market can bare per visit price...how saturated your market is, better then you. Do your own homework get some great used beds. Upgrade later when you can afford it.

Have your attorney read your lease and see if there is someway out..is your best bet. You could simply,Put an ad in the classified.."Looking to start your own tanning salon?" Call.....bluh bluh. See if someone will take that location off your hands. Good luck.

PS Your short lived partnership is probably for the best. Try not to stress over it. Partnerships rarely work for the most part..especially in this industry.

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11-24-2004, 04:58 PM	#1 (permalink)
nosreba Join Date: Nov 24 2004 Posts: 7 Rep Power: 0	I am looking for someone to partner with or to take over my lease. I have leased a space in a Public's shopping center in Canton, Georgia. My partner has bailed on me and I am left with a financial struggle. I have already put in 450 amps of electricity and 7 tons of air to get started. I have the architect plans and the building permit. I have 6 beds lined up to be delivered in late December from Sonnenbraume, Inc. I don't have the funds to continue. This is an AWESOME, AWESOME, AWESOME location. There are no other tanning salons within a 15 mile radius. There are schools all around and new subdivisions being build as well as established ones. HELP! aberson@bellsouth.net

11-25-2004, 12:37 AM	#2 (permalink)
zectasy Join Date: Nov 23 2004 Posts: 350 Rep Power: 5	id suggest to try and find a family member to join you...if not find a friend...i wouldnt really trust or wanna deal with co-owning a business with some random person

11-25-2004, 07:46 AM	#3 (permalink)
the tanning guy Join Date: Sep 8 2004 Location: ri Posts: 53 Rep Power: 0	Downsize and buy used beds so you can afford to go it alone partners are for socks and shoes!!

11-25-2004, 12:30 PM	#4 (permalink)
MATT A Police Department Join Date: Sep 6 2004 Location: Awaiting Posts: 15,703 Rep Power: 31	Sell your build out.

11-25-2004, 01:32 PM	#5 (permalink)
zectasy Join Date: Nov 23 2004 Posts: 350 Rep Power: 5	used beds wouldnt be a bad option...i know the beds we use in our salon usually go for 3-4k each...i saw them used on ebay for 1500...thats not bad at allll...and plus with tan america everything is pretty easy to replace...

11-26-2004, 01:48 PM	#6 (permalink)
nosreba Join Date: Nov 24 2004 Posts: 7 Rep Power: 0	Do you think it's easier to sale a salon AFTER the build-out? My husband was thinking I should try and get someone to take over the lease BEFORE the build-out since most people want to build it "their way". I'm thinking of getting a silent partner (friend) to invest and I would pay back in installments with maybe a 7%? interest rate over a period of 5-10 years (to be paid off ASAP). I'm also definitely going to consider used beds to lower my start-up costs and monthly overhead. Right now I'm looking at around $10,000/month overhead. Does anyone have an overhead that high and if so, is it hard to make ends meet compared to your monthly income?

11-26-2004, 01:50 PM	#7 (permalink)
lil_missfit Join Date: Sep 29 2003 Location: Arizona Posts: 2,149 Rep Power: 9	$10,000/mo overhead? I couldn't imagine, find a way to lower your monthly overhead. Was your partner on the lease also?

11-26-2004, 01:58 PM	#8 (permalink)
engfant FREE ENGFANTUCATION Join Date: May 20 2003 Posts: 9,436 Rep Power: 13	that's WAY too high to expect. ESPECIALLY for a 6 bed salon. $10K/month if you are the BEST at what you do.

11-26-2004, 10:48 PM	#9 (permalink)
suntanztanning Join Date: Jun 8 2003 Posts: 302 Rep Power: 6	6 beds and 10K a month?.......stop now while you still can......no way you'll ever see a return! You are at least 50% high!

11-27-2004, 05:23 AM	#10 (permalink)
MJ Join Date: Jan 21 2002 Posts: 3,060 Rep Power: 8	10 k!!!! Please, please please do not believe what the MFG's/ bed leasing companies tell you will be your yearly gross on thier units. They often and misleadingly quote the highest priced salon they can find in their data base that they leased to. Somewhere, like Manhatten( sp?),New York or Upscale areas of California. Know your market. because the truth issometimes they just plain lie to get you to lease the bed. They know you will not get 50 people a day paying 30 bucks a pop. They simply do not care it is thier job to lease beds..how you make the payments is your problem. You lose in the end. They know very well what your market can bare per visit price...how saturated your market is, better then you. Do your own homework get some great used beds. Upgrade later when you can afford it. Have your attorney read your lease and see if there is someway out..is your best bet. You could simply,Put an ad in the classified.."Looking to start your own tanning salon?" Call.....bluh bluh. See if someone will take that location off your hands. Good luck. PS Your short lived partnership is probably for the best. Try not to stress over it. Partnerships rarely work for the most part..especially in this industry.

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