Tanning Salons – 2 Locations

Salt Lake County, UT

Seller Financing Available
Tanning Salons – 2 Locations

Asking Price:$350,000

Cash Flow:$127,750

Gross Revenue:$589,755

EBITDA:N/A

FF&E:$4,000

Inventory:$4,000

Established:2007

Tanning Salons – 2 Locations

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Business Description

These two upscale tanning salons in the southwest Salt Lake Valley facilities offer several skin care and beauty services in addition to tanning. Besides both UV-free and tanning bed services, they also provide facials and teeth whitening. Their stores also include retail boutiques that carry a full line of fashionable accessories.

They opened their original location in 2007 and moved to their current location near the high traffic intersection in 2010. That same year, they opened a second location at a high volume retail center.

One store is approximately 3,000 square feet and has 15 tanning rooms and a mystic room. The other is about 4,000 and has 18 tanning rooms, a mystic room, airbrush room, teeth whitening/facial room and a treatment room, plus an office and a small conference room. Both locations are currently 2 years into a 10 year lease, with 5-year options.

Because of their high end facilities and variety and level of services, the salons attract customers from all over the Salt Lake Valley. As such the current owners have identified possible locations for expansion in two upscale Salt Lake Valley communities. To replicate the current facilities, a new owner could expect to spend approximately $300,000 in equipment and $100,000 in store build-out per location.

The sellers are not active in the business on a day-to-day basis. They currently rely on a conscientious full-time General Manager (paid an annual salary of $35,000) who oversees both locations, and a part-time Assistant Manager in each location. The current owners have other business interests that do not allow them to focus on the tanning salons as much as they would like and so have decided to sell them. For a qualified buyer, seller financing is negotiable.

Detailed Information

Inventory:
Included in asking price
Employees:
22
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
2 locations, one approx. 4,000 sf; one approx. 2,700 sf
Financing:
negotiable for a qualified buyer
Support & Training:
negotiable
Reason for Selling:
pursue other interests

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Coldwell Banker Mergers & Acquisitions

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Coldwell Banker Mergers & Acquisitions

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