Ready to buy. New to industry. Need a mentor!!! =) - tanTALK

cbritt927 · 05-29-2005, 01:11 PM

I see there are a lot of sharp people on this site, especially you industry proz.
I (and fiance') are looking to open or aquire our 1st salon. We've been planning this for a couple years, but our "day jobs" kept us too busy. We are now ready and have about $100K to invest. We both think that buying an existing salon is the way to go as again we are rookies. We are wanting this to be a longer-term investment, something she can operate (working owner) for the next 5 maybe 7-10 years!
We've been watching a salon in the LA area foor quite some time and are trying to evaluate what it is worth.

Question: How do you pros evaluate the "worth" of a salon?
This one grosses $215/year, nets a loss, owns $140k in beds, $30K in security, and a $100k build out. In a ritzy area. What who you pay? or who you start from scratch? We have a couple good ideas for locations?

mr belvedere · 05-29-2005, 04:26 PM

You should PM D White all of your questions. She is really good resource for people wanting to learn the biz. Good luck.

soapking · 06-04-2005, 07:16 PM

If you are looking in the LA area, you will need to save more than a 100K.

Neon Beach · 06-04-2005, 07:50 PM

I would think so, you probably won't be able to cover the cost of your granite reception desk and marble floors for that. Not too mention the tanning units, my gawd the tanning units. $15,000+ a pop! Please do not go into this under funded. Once you have figured out what you THINK you need for $$, double it!!

Mali · 06-08-2005, 08:52 AM

you will need way more then 100k, especially in that area.

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05-29-2005, 01:11 PM	#1 (permalink)
cbritt927 Join Date: May 29 2005 Posts: 22 Rep Power: 0	I see there are a lot of sharp people on this site, especially you industry proz. I (and fiance') are looking to open or aquire our 1st salon. We've been planning this for a couple years, but our "day jobs" kept us too busy. We are now ready and have about $100K to invest. We both think that buying an existing salon is the way to go as again we are rookies. We are wanting this to be a longer-term investment, something she can operate (working owner) for the next 5 maybe 7-10 years! We've been watching a salon in the LA area foor quite some time and are trying to evaluate what it is worth. Question: How do you pros evaluate the "worth" of a salon? This one grosses $215/year, nets a loss, owns $140k in beds, $30K in security, and a $100k build out. In a ritzy area. What who you pay? or who you start from scratch? We have a couple good ideas for locations?

05-29-2005, 04:26 PM	#2 (permalink)
mr belvedere Mr. b Join Date: May 10 2005 Age: 54 Posts: 7,247 Rep Power: 68	You should PM D White all of your questions. She is really good resource for people wanting to learn the biz. Good luck.

06-04-2005, 07:16 PM	#3 (permalink)
soapking Waiting Confirmation Join Date: Mar 7 2003 Posts: 489 Rep Power: 0	If you are looking in the LA area, you will need to save more than a 100K.

06-04-2005, 07:50 PM	#4 (permalink)
Neon Beach Join Date: Nov 30 2000 Location: Ontario Age: 61 Posts: 38,594 Rep Power: 107	I would think so, you probably won't be able to cover the cost of your granite reception desk and marble floors for that. Not too mention the tanning units, my gawd the tanning units. $15,000+ a pop! Please do not go into this under funded. Once you have figured out what you THINK you need for $$, double it!!

06-08-2005, 08:52 AM	#5 (permalink)
Mali I love Derf!! Join Date: Mar 25 2005 Location: Wilmington NC Age: 49 Posts: 2,104 Rep Power: 34	you will need way more then 100k, especially in that area.

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