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Verified Listing

Tanning Salons – 2 Locations

For Sale in UT

Listing ID: 201821 | Broker Listing ID:

Financial & Assets Details

$594,075
$116,229
$4,000
$4,000
Yes

About the Business

2007
2 FT / 20 PT
Yes

Business Description

These two upscale tanning salons in the southwest Salt Lake Valley offer several skin care and beauty services in addition to UV-free and tanning bed services Their stores also include retail boutiques that carry fashionable accessories.

They opened their original location in 2007 and moved to their current location near the high traffic intersection in 2010. That same year, they opened a second location at a high-volume retail center.

One store is approximately 3,000 square feet and has 15 tanning rooms and a mystic room. The other is about 4,000 and has 18 tanning rooms, a mystic room, airbrush room, teeth whitening/facial room and a treatment room, plus an office and a small conference room. Both locations are currently 5 years into a 10-year lease, with two 5-year options.

Because of their high-end facilities and variety and level of services, the salons attract customers from all over the Salt Lake Valley. As such the current owners have identified possible locations for expansion in two upscale Salt Lake Valley communities. To replicate the current facilities, a new owner could expect to spend approximately $300,000 in equipment and $100,000 in store build-out per location.

The sellers are not active in the business on a day-to-day basis. They currently rely on a conscientious full-time General Manager (paid an annual salary of $37,000) who oversees both locations, and a part-time Assistant Manager in each location. The current owners have other business interests that do not allow them to focus on the tanning salons as much as they would like and so have decided to sell them. For a qualified buyer, some seller financing is negotiable.

Seller Financing

some seller financing may be negotiable for a qualified buyer

Location Details:

2 locations, one 4,100 sf, one 2,700 sf

Support & Training

negotiable

Reason for Selling:

pursue other interests

Listing ID: 201821