Buying existing salon

conipat · 08-23-2005, 03:10 PM

I have a friend that owns an exisiting salon (that was open for 2 years), with 4 beds that has been closed for the past 1.5 years becuase the she inherited a chunck of money and did not want to be tied to a business anymore because she travels alot. The place had good business when it was open but her records are not the best kept so I cannot get a firm firgure. The beds are older, 1 VHR and 3 others and the building is fully furnished, basically it is ready to go, it just needs someone to manage it. I asked her what she is going to do with it because it just sits there and she told me to open it back up. She said she will not even charge me a lease until after jan. or feb when business picks up. What are some of the things I need to do to attract business to a forgotten salon? And are the beds outdated if they are 4 years old? She owns the beds, no lease. any comments or suggestions are appreciateed. I do not want to throw myself into something I am unprepared for.

West Side Tanner · 08-25-2005, 01:30 PM

If she indeed "inherited" a big chuck of money, than this would have been a perfect tax situation for her. Not!

sunsally · 08-25-2005, 03:39 PM

With only 4 beds, you will probably not make enough to pay the lease and electricity, let alone "pay" yourself anything significant (or pay someone else). Tanning is very seasonal (makes 75% of the year's money in about 5 months).

So - since she "owns" the beds - she is just giving them to you? Or are you the "manager" and she still owns the salon?

caribbean tan man · 08-26-2005, 06:00 PM

what happened to all the tanners when she closed did they loose out on tans? are they peeed off? could you put at least 2 new beds? u will probally need to change the name will she let you? the tanners that were there before most likely wont come back to a place that suddenly closed you will need to change the name and add some equipment and treat it as a new business good luck

BigLeo · 08-27-2005, 12:50 PM

It's nice of her not to charge you any rent. If she truly inherited a lot of money, then she won't mind not chargeing you for all of 2006. Free rent for a friend. Tell her you will need all the help you can get and you really need a big open hand from her. And find out the demographics for the location and who the competitors are. You really need to do some homework to determine if the location is a good one. See some of my previous posts for the info.

mr belvedere · 08-27-2005, 12:51 PM

I'd get new friends. This thread has been dee-mod-u-lay-ted.

ramcat · 08-27-2005, 12:52 PM

You've already received some very good advice. If I were you, I would tell her thanks, but I'll pass.

mr belvedere · 08-28-2005, 04:53 AM

My neck hurts.

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08-23-2005, 03:10 PM	#1 (permalink)
conipat Join Date: Aug 23 2005 Posts: 1 Rep Power: 0	I have a friend that owns an exisiting salon (that was open for 2 years), with 4 beds that has been closed for the past 1.5 years becuase the she inherited a chunck of money and did not want to be tied to a business anymore because she travels alot. The place had good business when it was open but her records are not the best kept so I cannot get a firm firgure. The beds are older, 1 VHR and 3 others and the building is fully furnished, basically it is ready to go, it just needs someone to manage it. I asked her what she is going to do with it because it just sits there and she told me to open it back up. She said she will not even charge me a lease until after jan. or feb when business picks up. What are some of the things I need to do to attract business to a forgotten salon? And are the beds outdated if they are 4 years old? She owns the beds, no lease. any comments or suggestions are appreciateed. I do not want to throw myself into something I am unprepared for.

08-25-2005, 01:30 PM	#2 (permalink)
West Side Tanner Join Date: Dec 27 2003 Location: Florida Posts: 2,548 Rep Power: 5	If she indeed "inherited" a big chuck of money, than this would have been a perfect tax situation for her. Not!

08-25-2005, 03:39 PM	#3 (permalink)
sunsally www.highlinecapital.com Join Date: Nov 23 2004 Location: ITA Member & Berman Supporter! Posts: 2,512 Rep Power: 8	With only 4 beds, you will probably not make enough to pay the lease and electricity, let alone "pay" yourself anything significant (or pay someone else). Tanning is very seasonal (makes 75% of the year's money in about 5 months). So - since she "owns" the beds - she is just giving them to you? Or are you the "manager" and she still owns the salon?

08-26-2005, 06:00 PM	#4 (permalink)
caribbean tan man DERFTALK FBI AGENT Join Date: Jul 29 2003 Location: northeast Age: 32 Posts: 5,163 Rep Power: 31	what happened to all the tanners when she closed did they loose out on tans? are they peeed off? could you put at least 2 new beds? u will probally need to change the name will she let you? the tanners that were there before most likely wont come back to a place that suddenly closed you will need to change the name and add some equipment and treat it as a new business good luck

08-27-2005, 12:50 PM	#5 (permalink)
BigLeo Join Date: Jan 27 2005 Posts: 243 Rep Power: 4	It's nice of her not to charge you any rent. If she truly inherited a lot of money, then she won't mind not chargeing you for all of 2006. Free rent for a friend. Tell her you will need all the help you can get and you really need a big open hand from her. And find out the demographics for the location and who the competitors are. You really need to do some homework to determine if the location is a good one. See some of my previous posts for the info.

08-27-2005, 12:51 PM	#6 (permalink)
mr belvedere DERFERATOR Join Date: May 10 2005 Age: 38 Posts: 8,477 Rep Power: 52	I'd get new friends. This thread has been dee-mod-u-lay-ted.

08-27-2005, 12:52 PM	#7 (permalink)
ramcat Join Date: Oct 26 2004 Location: Florida Posts: 3,224 Rep Power: 6	You've already received some very good advice. If I were you, I would tell her thanks, but I'll pass.

08-28-2005, 04:53 AM	#8 (permalink)
mr belvedere DERFERATOR Join Date: May 10 2005 Age: 38 Posts: 8,477 Rep Power: 52	My neck hurts.

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