Lush Tanning Salon Lounge For Sale
Recently Renovated Salon For Sale
Serious Inquiries Only. Selling business because I have another primary business and it is about to be busy season. I will entertain any serious cash offer and I am willing to make a deal asap.
2014: $113,293 (health spa added mid year)
2015: $107,100 (Partner fall out early 2015, no maintenance was done with Ad/Marketing)
2016: ~$25,000 1/1-4/1
at 75% of gross income sell price should be around .75x (6 year average) = 92,000
2.5 times average profit over last 6 years comes to 2.5 x 45,000 = 135,000
2.5 times profit last year (which was a down year because of partner disputes) 2.5 x 24,250=$72,750
Average of all interpretations: $99,916
These are the different interpretations of the valuation of the business, not considering the cost to fit out this business, recent investment (~50,000), value of equipment, customer base, etc.
Pricing this for sale at $65,000 is a steal.
Monthly Expenses Total:
Includes: Utilities, bulbs, new products, advertising and marketing, payroll, mgmt, general supplies and misc expenses, lease payments, insurance
With the health spa added recently and dedication this business has the potential to be doing well over $175,000 yearly.
Recently renovated tanning salon for sale. (8) premium recently refurbished beds, newer and high end models. (1) Norvel Auto Revolution Spray Tanning Machine. Full Health Spa: Teeth Whitening, Red Light Therapy, Fit Body Wrap, Hydration Station, and Oxygen Bar, all BRAND NEW and fully operational. Huge selection of newest inventory. Business was founded 8 years ago and has been profitable since it opened. Business was sold recently due to a dispute with the partners, it was in very bad shape. A large amount of money was recently invested into the business, but the new owner purchased it as an investment to help a friend out of a bad situation. He is too busy with his full time job to operate the salon. The business is turn key, current lease expires in January 2017 and a new lease can be written without issue, it can be organized as part of closing.
There are currently two leases, approximately 2300 sf total, ~$1675 for the main salon, and ~$675 for the health spa. The two buildings are side by side and are connected from within. This is a high end salon located next to two major universities, Seton Hall and Kean University, near Union County College. There is a huge opportunity here.
No money is owed on salon and all equipment is paid off with the exception of the auto spray tan machine by Norvell. The machine cost 40,000 brand new, there is about $17,500 left on the lease. Monthly lease payment is $828.18, there is no interest, this was included in expenses above. The machine is in new condition and is worth around $19,000 as is. This lease must be transferred into the name of the new owner, you will need a credit score above 650 for this. Paying this lease will look great on your credit.
Turnover can happen immediately upon closing, buy this in time for the busy season!
All discussions regarding the sale of the business must be under non disclosure agreement. Please include your phone number and some background information establishing credibility that you are a serious buyer and this is within your price range. This is a beautiful property and a gorgeous salon. It comes ready to go, it doesn't need any work at all!