Tanning Salon

Monmouth County, NJ

Seller Financing Available
Tanning Salon

Asking Price:$85,000

Cash Flow:$22,100

Gross Revenue:$185,000

EBITDA:N/A

FF&E:$150,000

Inventory:$1,200

Lease Rate/Sq. Ft.:$12

Established:1990

Tanning Salon

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Business Description

Tanning Salon priced for a quick sale located in an affluent area of Middlesex County, New Jersey. Very exciting opportunity and the owner is presently absentee and has priced the sale based on the value of the equipment. This successful Salon was established in 1984 as the largest and most modern facility in the area. The business has a 2016 projected gross income of $185,000 and a yearly net income of $22,100 and the owner has priced the sale well below fair market value. Their level 3 beds have 8 facial lamps and are supply the highest-level equipment including Mystic Spray tanning. With 20 years of indoor tanning experience, they are the premier tanning salon in the County. This luxurious salon is impeccable and includes the newest and best equipment available in the industry. They are proud of the board-certified tanning consultants and airbrush artists, who have a thorough, up to date knowledge of all indoor tanning products and trends. They understand the busy lifestyles of all our clients and are always willing to accommodate their schedules. Your time is valuable and they offer dozens of beds and extended hours to provide the best services and experience to all our clientele. The Salon is designed for your specific tanning needs and skin type, with flexible payment options. The business assets have an estimated value of $150,000 based the existing assets of the salon. The sale consists of a fully equipped commercial retail store, which includes various tanning beds, displays, shelving, POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. This particular business has two-part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $650. The business has an assignable commercial lease which expires June 1, 2025 plus additional options, with a monthly rent of $2,600, cost per square feet is $12.00 and rent security $2,600. The facility has a legal capacity for 42 customers consisting of 2,600 sq. ft., on one floor. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active seven days per week, with hours from 10:00 am to 9:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required city licenses to conduct its day to day business. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a 29% investment return to the owner operator prior to debt service. The 2016 projected yearly gross income is $185,000 and the business has a yearly net income of $22,100 based on an owner operator and prior to debt service. The business has been valued at $85,000 based on a multiple of the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,600
Lease Expiration:
6/1/2025
Employees:
Two
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Located in an active wealthy and upscale area of Middlesex County, New Jersey on convenient state highway in a large commercial mall with lots of daily shoppers and workers. The center has an excellent location and services various nearby communities with a continued need for personal service. The facility consists of 2,600 square feet in an attractive commercial setting with substantial private parking as part of the lease agreement. The facility has an ultra-modern entrance and waiting area with various private rooms for customer privacy. The facility also has clean modern bathrooms and shower and a great deal of storage.
Competition:
To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth & Expansion:
The business presently has a limited marketing plan, poor web site and if improved can further develop the business bottom line net income.
Financing:
Seller financing is available to qualified buyers.
Support & Training:
The owner will remain post-closing for a minimum of 30 days in order to supply an appropriate transitional period to the new operator. Also, if required the seller will supply additional training at a fair cost to the purchaser.
Reason for Selling:
The owner is relocating out of the state of New Jersey.

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Ron Cervelli

Business Listed By:
Ron Cervelli

Regal Consulting Corp.

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