tanjunkie311

I have the opportunity to buy an existing salon for cheap. It has 6 sunquest beds, 1 hair stylists with room for 1 more,and 1 nail tech with room for 2 more. The salon didn't seem very busy in July. I think, however, that there are many reasons for slow business. (the owner is the only person working at the tanning part of the salon and she is very unfriendly, owner closes salon before scheduled closing hours,she will not hire help because she doesn't want to pay out any more money, lotion prices are more than double wholesale costs,rooms are drab,no advertising etc.)My sister and I have many ideas that may bring in more business. Good location. There are several colleges nearby and one is a major university. I am worried now about purchasing an existing salon after reading comments on this site. Any advice?

caribbeansun01

Look over her books with your accountant. I am not very good with the financial part of it all, other TanTalk members are excellent. However, from experience you will want to know these things. How big is her customer base? Is she going to give you her customer list? Is there much remodeling to do? Are the beds operable? Any hidden costs? Any stock that she wants to get rid of? You will open under new management, but you should send mailers to the existing customer base to let them know. Run awesome specials, hook up with a good disty and work your butt off to make it profitable.

tanjunkie311

The ownerhealth is her reason for selling. I am sure that she will allow her clients to still come in since she is getting out of the tanning salon business. She doesn't do any promotional advertising and with the college right down the street, there is tremendous potential. The remodeling will be no problem. Some paint and a few extras. Nothing major. I have just finished taking accounting classes, so looking over the books will be easy. She could not tell me how profitable the business is because she just recently acquired it herself. The beds are good, I guess. They are wolff beds and look in good condition. I have been going to her salon for a while and am satisfied with my results. She really has little stock. I think right now she has less than 20 bottles of lotion to choose from. It would basically be my starting from scratch.

tanjunkie311

I meant the owner's health. I need to disable the typeover on my computer. Didn't want to retype the whole message.

Beach Club Tans

How much money do you want to make? Are you willing/able to lose money to get the salon going? What is salon net? What are expenses? Customer base? Pricing structure? What is your exit plan if you can't make what you want/need? To answer your question honestly we'd need a lot more information to give you good feedback. And as Dwhite used to say "consider the size of your market".

tanjunkie311

obviously not something to jump into quickly. Thank you for the feedback!!!

Neon Beach

After the very bad season for many, many salons this year, I'd research the reason for selling very carefully. Very carefully indeed!!

caribbean tan man

definitley check on the reason for selling i just changed my mind on a salon i was going to purchase that looked like it could do way better UNTIL I SEEEN THERE MONTHLY SALES NUMBERS I WOULD NEED TO TRIPLE THEM TO MAKE A PROFIT AND PAY FOR THE CHANGES IT NEEDS TO BE COMPETITIVE try looking for one in the busy season (if we get 1 next year)its much easier to make money then.

West Side Tanner

This is the time of year to buy them. After the season. They (sellsers) don't have any money to carry themselves. Look at all the used equipment that has came on the market in the last month and the number of salons that are now for sale.

talldarkandblonde

I took a real risk buying the one I did. The old owners were scandelous and mean after the deal was done. Even tho it went done like this I love it soooo much i wouldnt give it up. I am getting ready to get rid of the drab rooms myself. Its my baby-and will be very proud of myself when I get done-so will u!!