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| Glendora Starter Tan Salon | |
| Industry Description |
Indoor Tanning Facility |
SIC |
7299 - 44 |
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| Days Open |
7 79 Hrs. |
Year Established |
1994 |
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| Hours of Operation |
M-Th 8-9,F 8-8,Sat 9-6, Sun 9-2 |
Years Owned |
Took over 7/03 |
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| Full-time Employees |
0 |
Part-time Employees |
4 |
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| Other Notes |
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| Hours/wk by Owner |
None |
Owners Duties |
Oversight |
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| Skills / Licenses Req¹d |
None |
Training Offered / Cost |
2 Wks @ 20 hrs |
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| Non-Compete Terms |
3 Yrs. / 5 Miles |
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| Exec. Summary |
This 6 room, 4 bed salon + 1 hand spray unit salon is perfect for someone new |
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| to the industry. While it could be, it is NOT geared toward advanced tanners. |
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| Lease / Bldg. Info. |
Monthly Rent |
$1,200 |
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| Lease Commenced |
4/04 |
Deposit |
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| Lease Expires |
4/09 |
Term & Option |
5YR/5 option |
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| Bldg./Area Description |
Mall |
Square Footage |
1,496 Sq. ft. |
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| Seats, Pkg, Zoning, etc. |
Plenty of parking in a small shopping mall with a gym next door. |
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| Reason for Sale |
The current owner operates another business and ³inherited² this one. |
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| Financial Summary |
Current Yr. Annual |
2003 / Owner to Prove |
2002 / Owner to Prove |
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| Gross Revenue |
$70,000 (Rough Estimate) |
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| COGS |
Not Estimated |
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| Rent / CAM |
$14,400 |
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| Payroll |
$29,000 |
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| Net Profit (before tax) |
$24,000 (Rough Estimate) |
Non-Working Owner |
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| Discretionary Cash |
$42,000 (Rough Estimate) |
Owner working 50 hr/wk |
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| Expense Breakdown |
At present, the owner works all but 12 hours in the salon. |
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| Included in Sale |
Assets |
Liabilities |
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| FF&E Included |
$49,200 |
Lease Obligations |
$0 |
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| Inventory Included |
$800 |
Debt Included |
$0 |
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| Other Assets Included |
Other Liabilities |
$0 |
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| Working Capital (not incl) |
Return on Sale Price |
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| Asking Price |
$60,000 |
Owner Financing/Terms |
No |
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| Earnest Money Dep. |
$5,000 |
Down Payment |
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Opportunity Summary |
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Headline |
Glendora Starter Tan Salon |
| Summary |
This 10 year old salon presents a new owner a great opportunity to enter the industry at a low cost. The salon is located in shopping mall with a gym next door and a nail salon a few doors down. |
| Facilities / Assets |
The salon is located in a 1,496 square foot, low overhead facility. Monthly rent is $1,200 on a five year lease. All of the equipment is included in the sale, including 3 refurbished 1990s Sundash Beds, 1 Sunquest Pro Bed, and a hand spray tan unit. At present, 7 rooms have been built out, with 1 room used for an office and a large (though under utilized) retail area. |
| Competition |
Moderate There are a variety of tanning areas in the area. |
| Growth Potential |
Many opportunities for expansion exist. A new owner may seek to upgrade and / or differentiate the beds, expand the retail selection, engage in marketing, install a standard spray tan unit, etcŠ |
| Other |
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