Buying an exsisting salon

sabotai · 11-16-2006, 07:50 PM

I am looking at buying an exsisting salon in my town. It has been open for 18+ years and has been profitable the entire time. The last 5 years alone the owner has taken home over 70,000 a year. The guy is asking 175,000 for the business and all assests. I can probly talk him down from there. I just wonder if the Tanning business is stable in general, is it something going out the window? There is alot of competition in the general area but none in the immediate area of this place none withing 5 miles. The business has no uv free tanning, wondering if I should add that or not... I would be paying all cash for the business, and for the uv tanning if I added it. I just don't know if buying a like magic tan 3000 or a versaspa would be worth it. I am going into this business new and really wondering what everyone thinks.

thanks

sabotai · 11-16-2006, 08:55 PM

Just a quick note about the salons current beds.

It has 20 - 30 minute beds
1 15 minute VHR lay down bed
1 12 minute stand up
1 7 minute stand up
With an in house hair and nail salon

Let me know something salon folks

lewdyju · 11-16-2006, 09:13 PM

How old is the equipment and what type (brand)?

BP · 11-16-2006, 09:35 PM

How long can you assume the lease for?
What would happen if someone opens 3 blocks away? Can your salon compete with a new one? Which one of you would stay in business?
The only thing that changes faster than a tanning salon owner is a coffee drive up.

BP · 11-16-2006, 09:36 PM

lewdyju - Do you really have elk in a grove?

lewdyju · 11-16-2006, 09:45 PM

No, elk here unless you count the elk statues that they have painted all around town in different themes.

mr belvedere · 11-16-2006, 09:52 PM

At least you can tell us you have groves. ~sheesh~ hehe

BP · 11-16-2006, 10:09 PM

That is so sad. There must have been at some point. But we gotta live somewhere.

Rhino · 11-17-2006, 12:15 PM

Saboti,
You might not get any straight answers this time of year we are all a little sarcastic, its the slowwwwwwwwwww season. Good luck on your choice do your reeeeeesearch, it is hard to tell when we don't know your location, and so many factors determine each area H-Holidays

Rhino · 11-17-2006, 12:16 PM

By the way my birds are thirsty then hungry and I have no money bboooo hhoooo I am always left out waaaaaaa

11-16-2006, 07:50 PM	#1 (permalink)
sabotai Join Date: Nov 16 2006 Posts: 4 Rep Power: 0	Buying an exsisting salon I am looking at buying an exsisting salon in my town. It has been open for 18+ years and has been profitable the entire time. The last 5 years alone the owner has taken home over 70,000 a year. The guy is asking 175,000 for the business and all assests. I can probly talk him down from there. I just wonder if the Tanning business is stable in general, is it something going out the window? There is alot of competition in the general area but none in the immediate area of this place none withing 5 miles. The business has no uv free tanning, wondering if I should add that or not... I would be paying all cash for the business, and for the uv tanning if I added it. I just don't know if buying a like magic tan 3000 or a versaspa would be worth it. I am going into this business new and really wondering what everyone thinks. thanks

11-16-2006, 08:55 PM	#2 (permalink)
sabotai Join Date: Nov 16 2006 Posts: 4 Rep Power: 0	Re: Buying an exsisting salon Just a quick note about the salons current beds. It has 20 - 30 minute beds 1 15 minute VHR lay down bed 1 12 minute stand up 1 7 minute stand up With an in house hair and nail salon Let me know something salon folks

11-16-2006, 09:13 PM	#3 (permalink)
lewdyju I love Derf!! Join Date: Jul 5 2006 Location: Elk Grove, CA Posts: 1,222 Rep Power: 5	Re: Buying an exsisting salon How old is the equipment and what type (brand)? __________________ www.hotgloss.com www.myspace.com/endlesssuntanningsalon

11-16-2006, 09:35 PM	#4 (permalink)
BP I love Derf!! Join Date: Apr 13 2004 Location: West Coast Age: 42 Posts: 930 Rep Power: 6	Re: Buying an exsisting salon How long can you assume the lease for? What would happen if someone opens 3 blocks away? Can your salon compete with a new one? Which one of you would stay in business? The only thing that changes faster than a tanning salon owner is a coffee drive up.

11-16-2006, 09:36 PM	#5 (permalink)
BP I love Derf!! Join Date: Apr 13 2004 Location: West Coast Age: 42 Posts: 930 Rep Power: 6	Re: Buying an exsisting salon lewdyju - Do you really have elk in a grove?

11-16-2006, 09:45 PM	#6 (permalink)
lewdyju I love Derf!! Join Date: Jul 5 2006 Location: Elk Grove, CA Posts: 1,222 Rep Power: 5	Re: Buying an exsisting salon No, elk here unless you count the elk statues that they have painted all around town in different themes. __________________ www.hotgloss.com www.myspace.com/endlesssuntanningsalon

11-16-2006, 09:52 PM	#7 (permalink)
mr belvedere DERFERATOR Join Date: May 10 2005 Age: 38 Posts: 8,477 Rep Power: 52	Re: Buying an exsisting salon At least you can tell us you have groves. ~sheesh~ hehe __________________ "A dusty bible leads to a dirty life ..." -Synonymous

11-16-2006, 10:09 PM	#8 (permalink)
BP I love Derf!! Join Date: Apr 13 2004 Location: West Coast Age: 42 Posts: 930 Rep Power: 6	Re: Buying an exsisting salon That is so sad. There must have been at some point. But we gotta live somewhere.

11-17-2006, 12:15 PM	#9 (permalink)
Rhino Join Date: Jul 17 2001 Location: Washington/PNW Posts: 428 Rep Power: 8	Re: Buying an exsisting salon Saboti, You might not get any straight answers this time of year we are all a little sarcastic, its the slowwwwwwwwwww season. Good luck on your choice do your reeeeeesearch, it is hard to tell when we don't know your location, and so many factors determine each area H-Holidays __________________ Catching new clients, think my avatar will help

11-17-2006, 12:16 PM	#10 (permalink)
Rhino Join Date: Jul 17 2001 Location: Washington/PNW Posts: 428 Rep Power: 8	Re: Buying an exsisting salon By the way my birds are thirsty then hungry and I have no money bboooo hhoooo I am always left out waaaaaaa __________________ Catching new clients, think my avatar will help

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