Neon Beach

You will have missed the season by then.

Bravotan

RUN...find another biz...u will be glad u did..lol

__________________

lewdyju

Do you have enough working capital to get you through the sow months if you open off season?

__________________
www.hotgloss.com
www.myspace.com/endlesssuntanningsalon

sunsally

A couple of thoughts:

1. You say you have been doing "an insane amount of research" and "scouring all the thread here" - but you just joined two days ago and posted this yesterday. Do a LOT more reading than that!! Go back years even - a lot of recent threads can be very "jibberjabberish" chats between friends, so you really have to dig around quite a bit to find threads with "meat".

2. 8 hair salons with 1-2 beds each (and more looking to add them) is quite a few beds already for a population of less than 4,000.

3. Leasing can be a very good option, depending on your rate, your tax benefit needs, etc. If you are leasing them because you don't have enough cash and you are thinking that will be an "easier" way to get open, then you don't have enough capital and you should stop now.

4. Real estate co, mortgage firm, engineering firm etc. all sound like low traffic tenants and ones that you might only go to occasionally. Not great for "drive by" visibility in the right demographics for tanning. Restaurants, cell phone stores, etc makes a LOT more sense -- just based on what little you have told us.

5. Spa beds almost NEVER pay off in a tanning environment. Whether a massage therapist will or not depends on the demand for that in your town.

6. If airbrushing is "huge down here", does this mean there are several already offering that service too? If so, don't know that there is need for another.

7. $15/sq ft is reasonable -- but will be a lot to pay with only 3 units. I pay less than that, have 2x more space, but 5X more units. You will also be paying payroll (even if you are working it, have to put a "value" on your time of what you would make doing another job somewhere else), utilities, advertising, etc et

Overall, from what you have shared as well as the state of the industry, I'd say it probably is NOT a good investment.

JensSunQuest

I'd say you'd be better off buying ocean front property in a land locked state.....We aren't being cruel just honest...if you have the money look into a less seasonal business.....If you aren't depending on your income to pay mortage,cc, car payments then it is feasible and doable but please take all this into consideration..

sunsally

But keep in mind - for ANYONE looking to get into ANY business -- they should be looking at it as an INVESTMENT OPPORTUNITY -- not if you will be able to eat or not!

Just because you don't have to depend on a job's income to pay for mortgage, cars, etc does NOT mean that you should invest in a business that won't pay you! Your TIME has GOT to be worth something! Even for those that plan to work the salons everyday, all the hours to "save" money -- you have to look at the COST of YOU giving that time to THIS business -- rather than to something else! You don't "save" on payroll by doing that -- you just have made yourself an indentured servant, and given up the opportunity for someone ELSE to PAY YOU for giving that same time and effort to THEIR business!

For many - you would be better off finding a larger, nice salon and applying to be their salon manager! Many pay much more than what "owners" are paying themselves, and without the financial risk.

If you just want to "buy yourself a job", then at least make sure that the salon will "profit" at LEAST as much as you would make in a job! That means including the taxes, benefits, vacations, etc that an employer might offer you, as well as similar working conditions (e.g. hours, weekends and evenings off, paid holidays, etc).

It is ok to "grow" a business, and "do with less" during that time. But eventually it has to MAKE UP what you "lost", or it was a BAD DECISION. That means if you "could" be making $30K/year even - INCLUDING taxes, benefits, paid days off, etc (so this is the equivalent of about $10/hr, 40 hrs/week), and if you pay yourself NOTHING the first year and ALMOST nothing the 2nd year, then by the THIRD YEAR -- you should be taking home close to $100K (assuming cost of living increases, raises, etc) - MORE if you are making yourself work more than 40 hrs/week.

If not - you have made a bad decision, and should consider selling and getting a job.

That's the bottom line ECONOMIC way to look at owning a business -- above and beyond the emotional attachment.

Rhino

Yea you go sunsally girl. Newbie listen to her and the rest of us We love this biz but youve got to be prepared. Be sure you know that if someone doesn't show up or something goes wrong its you that has to work or fix it, lots of responsiblitly make sure you want all of it, plus make room for the little overlooked opppsss Good Luck

__________________
Catching new clients, think my avatar will help

Steve Underhill

Do yourself a favor, spend at least 30 minutes on the phone speaking to a qualified Consultant. You are only spending 30 minutes of your time and it will probably be the the most helpful phone call you will ever make. I will be happy to speak with you or you can call one of the other qualified Consultants from this site.

sunsally

I am the other one. PM me with your number (anyone) if you want to talk and I'd be glad to call you.

caribbean tan man

sunsally rocks!

__________________
someone PM me when a good tanning topic is posted. :lol: