numbersgame

My wife and I can pay all of our bills without her working with about $2000 left over, she wants to open a tanning salon I have found a location of 1200 sq ft for $2100 a month that includes all taxes, the population within 4 miles is 40,000 and is expected to be 60,000 in the next 2 yrs avg income is 65,000 the nearest tanning salon is about 15 miles away and is difficult to get to but there are several there, except for a hair salon about 2 miles from where we are looking and they only have 2 beds, i have gotten quotes for beds, buildout, signs etc. and I have enough to pay cash for the buildout plus keep the doors open for 4 months even if no one walks in the doors and i will be making a 20% down payment on the beds. the location is in a strip mall with lots of parking other business' include hair cutting, nail salon and lots of places to eat. we are very young 25 does this sound like a good idea? it seems to me to be a very good opportunity.

missyhot

Sounds like you've done your research. You would be starting with more than I did and my salon is going really strong. I'm somewhat new in this industry so I'm reluctant to give advice. I'm still seeking advice. There's a lot of imformation on this forum and some of the veterans here can be of big help. I would say GO FOR IT!

West Side Tanner

Actually, a Nail Salon and a Hair place is a form of competition. Not a direct one but, you will be competing to get their dollars (customers).

numbersgame

Yes I have though of that also but this is a really upper middle class area and most people have money, I also know of 2 other people that have tried to put a tanning salon here but their financing fell through, the area has been around for a lil while but the retail services are just now making their way there because of county ordinances.

West Side Tanner

Have you come up with a dollar amount for build-out?

numbersgame

yes i have gotten estimates, 25 per linear foot for my walls approx. $4000, $5000 for my electrical, bathroom is included by strip mall owner and the outside walls, i have gotten a quote on a light for outside also $3200. and i already own two beautiful glass counters.

sunsally

Do searches on this site for more info on buildout costs. I'd be stunned if $5000 was the total cost for electrical, $4000 for walls sounds low, etc. But if so, that's great! Don't forget the costs for the ceiling (if not open), flooring, paint, indoor lighting (room and lobby), "decorations" etc.

Also - washer/dryer, computer, cash drawer.

Does it have enough HVAC and electrical inside already? Probably 400 Amps and 10 tons needed, depending on what beds you use.

$21/s.f. is on the high side for tanning. As a seasonal business that tends to be very slow over 1/2 the year, just remember you may be carrying that during the slow times.

Make sure you factor in advertising! With only 40,000 in your town, expect, on average, 4,000 are potential customers. Some of those will be "hard core", some will be "occasional" or "seasonal". You'll want to make sure you capture all of them!

Read the MANY great sources of information available within this site. Then, if you decide to go forward - ask questions!!

Good luck -

Neon Beach

What she said ^

West Side Tanner

I'll agree^^^^^^^^what she said^^^^^^^^^She has good info!

mr belvedere

They're both right about that ^^ ^^