Premier Tan Salon Chain - 3 Locations
Location California,United States
Asking Price Range $1.0M - $2.5M
Gross Revenues $1424419
Net Profit / Cash Flow $612235
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 2003
Number of Employees 6 - 9
Inventory $1,000 per location.
Relocatable Not Disclosed
Number of Employees 6 - 9
Real Estate Leased
Training 2 weeks / 20 hours.
Reason for Sale Personal.
Description This three store chain has been amongst California's finest salon chains since its inception. Each of the three locations boast dramatic entryways, first class lounges, and the finest selection of low, medium and high pressure lay down, stand-up and spray tan units available. This chain is ideal for the owner who seeks to become the dominant player in this relatively mature tanning market in one acuisition, the owner who seeks to add on 3 formidable locations to an existing operation, or for the industry entrant who seeks to begin with three stellar operations.
The 3 facilities range in size from 1,500 square feet to over 2,000 square feet. All equipment will be paid off in the sale, with the exception of approx. $35,000 in equipment payouts (decreasing until Feb. 2008), and minor leases such as credit card terminals is paid in full. Monthly rent on the three marquee locations comes to approximately $27,000 in total, with long term facility leases.
Orange County is a relatively mature tanning market. As these top of the line incumbent salons have developed a loyal client following and have entrenched their market positions, they face fewer threats from competition than newer salons face.
This 3 store chain is absentee owned and managed. While the salons provide clients a complete set of tanning equipment and services, they are absentee run. As such, the salons could benefit a great deal from local marketing and on-site management. In addition, each location has an extraordinary payroll expense (nearly $140,000 per annum in 1 location), which should result in immediate cost savings from local ownership. New owners may seek to play a more active role in the operation, capitalize on the company's formidable client base, potentially increase the retail offering, or add complementary services such as customized spray tans, body wraps, luminaire hands free facial services, esthetician services, or even massage.
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