Regionally Known Tanning Salon With No Competition For Sale

Business description

This is one of the most recognized regional tanning salon franchises in Washington State. It is a franchise - but, there are no franchise fees until 2017 - only 1% for the Ad Fund fee per month. There is 1873 sq ft with 9 beds - 4 new conventional beds, 2 medium size beds, 2 Super beds, and one Mystic Spray booth. The current owner is absentee and must sell ASAP. The business is priced way below market value with Seller terms of 50% down - 3 year term @ 6% interest. This business has an outstanding location in the only high profile shopping center in Orting. Well established since 2000 and very steady income due to no competition and an outstanding location and reputation. The transfer fee is negotiable. Franchiser will provide 2 weeks of on-site training after closing. Due to other business obligations the owner has not been on site to manage the business and is very motivated to sell. This is a gold mine for an owner operator. Totally turn key operation with cash flow immediately.

Franchise terms

There is NO FRANCHISE FEE until 2017 and there is only a 1% Ad Fund fee per month. The transfer fee is negotiable. The Franchisor will provide 2 weeks of on - site training after closing.

Property information

Real Estate:

Lease

Lease terms:

The base rent is $3,612 per month plus NNN charges of $1,588 per month. The Lease runs till 3/31/2011 and has a 5 year option to extend the term. The Buyer will need to assume the existing equipment lease of apx. $13K and the Musak system lease @ $2,100 per month and the POS System lease (which varies and is based upon swipes) at closing.

Leasehold rent:

$62,400 per annum

Location:

The business is located in a high profile newer shopping center in the heart of the town.

Premises details:

The business occupies 1873 sq ft with 9 beds - 4 new conventional beds, 2 medium size beds, 2 Super beds, and one Mystic Spray booth. There is a break room, laundry, and bathroom. The equipment is in pristine condition, with 4 of the beds being brand new.

Size in square feet:

1,873

Other information

Expansion potential:

The business could easily be expanded by the presence of an owner operator who would take an active role in the community. The retail side of the business, with its high mark ups could be increased by having an owner operator there market and promote the product. The business needs more exposure – very little advertising has been done by the current owner.

Competition / Market:

There is no competition in this town or any of the neighboring towns. The business has been established since 2000 and has a steady income from the fact there is no competition and the excellent reputation and service of the business.

Support & training:

The Franchiser will provide 2 weeks of on - site training at the business after closing

Reasons for selling:

The owner is absentee and has other business interests

Trading hours:

8 AM - 10 PM (M-F) 9 AM - 8 PM (Sat - Sun) - 7 days per week

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Cash - Bank Financing - Seller terms with 50% down, 3 year term, at 6% interest

Furniture / Fixtures value:

$75,000 (included in the asking price)

Inventory / Stock value:

$1,500