Industry Description

Indoor Tanning

SIC

7299 - 44

Days Open

Year Established

1987 - 1989

Hours of Operation

9-9; Sat. 10-7; Sun 10-6

Years Owned

Since 05/04

Full-time Employees

Owner

Part-time Employees

2

Other Notes

Hours/wk by Owner

40

Owners Duties

Fully Operational

Skills / Licenses Req¹d

None

Training Offered / Cost

2 wks at 40 hrs/wk

Non-Compete Terms

3 yrs. 10 miles

Exec. Summary

Lease / Bldg. Info.

Monthly Rent

$1,560

Lease Commenced

n/a

Deposit

Lease Expires

Mo. to Mo.

Term & Option

Bldg./Area Description

Busy Mall

Square Footage

Approx. 920 sq. ft.

Seats, Pkg, Zoning, etc.

Mall houses a Pizza Hut and Popeye¹s restaurant

Reason for Sale

Owner burn out

Financial Summary

Current Yr. Annual

2003 / Owner to Prove

2002 / Owner to Prove

Gross Revenue

$120,000 (Estimate)

COGS

Data Not Available

Data Not Available

Rent / CAM

$18,720

From Former Owner

From Former Owner

Payroll

Net Profit (before tax)

Discretionary Cash

$50,000 (Estimate)

(Working Owner)

Expense Breakdown

Included in Sale

Assets

Liabilities

FF&E Included

$35,000 - $40,000

Lease Obligations

$0

Inventory Included

< $1,500

Debt Included

$0

Other Assets Included

Other Liabilities

$0

Working Capital (not incl)

Return on Sale Price

Asking Price

$120,000

Owner Financing/Terms

None offered

Earnest Money Dep.

$5,000

Down Payment

n/a

Opportunity Summary

Headline

Well Established Glendale Tan Salon Available

Summary

This is a fantastic opportunity to purchase a well established 920 square foot indoor tanning facility with ideal freeway access in the Glendale area.  The facility is located in a very busy mall housing a Popeye's Chicken, Pizza Hut, as well as a hair and nail salon, massage parlor, driving school, and dentist.  Included in the sale are 7 ­ 1999 Sundash Genesis beds, and all additional assets of the company.  While the facility generates an approximate $50k on $120k in sales, opportunities for increased profitability exists as the facility does not advertise or offer spray booths, stand up units, or a varied retail selection.

Facilities / Assets

This sale includes 7 1999 Sundash Genesis 120 volt beds.  Each bed purchased new for $6,500 ($45.5k). 

Competition

Competition is deemed to be moderate by industry and area standards.

Growth Potential

This facility does not offer a wide variety of beds, and does not have spray tan units or stand up units. 

Other