How many sq. ft. would I need...

[sunkissedpr1ncs]

Well I thought you were supposed to have 50-60% of your equipment be your base beds, so that's what I was going by. I haven't even met with my distributor yet to talk about beds or anything, so nothing is set in stone. I will have to see what size space I end up with, etc. to see how many and which ones I will actually get. Thanks for all the advice!

[sunsally]

It will depend on:

1. The general dimensions of the space. 20' wide and 40' wide (give or take a little bit) hold the maximum number of tanning beds. 30' wide or other arrangements won't be as efficient because of the room sizes needed, unless you then go to pocket doors and stand-ups with dressing rooms and other arrangements that are often more costly.

2. The mix of beds, as previously noted. The mix you are considering, with the rent you are projecting, will not make enough money for you to be profitable. You will hear different percentages for base beds, but personally, I would look at 25-40% TOPS in most markets in this time. Base beds are NOT where you maximize your profitablity - they are your "loss leaders" to get traffic into the salon and then upgrade them, sell lotion, etc

Again - you don't want to start from "how many and what type can I fit into this space" or "what space do I need to fit this many"? You want to start from "what will maximize my profits". Seems confusing I know, but that is what should drive any decisions you make.

Finally - and not trying to be mean or put you down, just a comment for you to consider.

If you graduated from college with your undergraduate degree in May I assume that makes you 22ish. You took a job as an accountant, and after a "few weeks", you quit because you "just couldn't see yourself there forever" so now it is 6 weeks later, you are not working and your fiance is supporting you both while you pursue your "lifelong dream" to own a tanning salon.

Do not be surprised if your bank is less than receptive to your ideas. Unless you have far deeper assets than most 22 year olds would (e.g. a trust fund or inheritance), you probably are going to be met with a less than enthusiastic response. The project you are proposing, on a guesstimate, will cost probably $300-400K to get open, of which a bank will want you to contribute 20%. Your yearly breakeven on something like this (including the bank loans, rent, payroll, ...) will be probably 200-250K/year and there are VERY few salons that actually achieve that level, particularly in the first few years. That means that it could be 3 years out before you even start breaking even -- and still have not started paying yourself back for the money you fronted for the investment!

Not trying to rain on your parade, just give you some realities to consider. There are SO many people who have opened salon because "the other salons in town are ....(dirty, rundown, don't change their lamps, have rude staff,... - fill in the blank), only to be stunned when everyone that was tanning at THOSE salons don't automatically flock to theirs when it opens! Also so many people who look at what the traffic is like during busy season - and build a salon to accommodate that, without thinking about the fact that they will still be paying all that debt, rent etc the other 8 months of the year when it is a ghost town!!

Keep doing your homework. To be honest, I would recommend you take your degree and go out to take another stab at working in a "business" environment for a minimum of a year. Not only will you save up some money to go toward your future dream of opening a salon (and look a lot more stable to a bank), but you will also be exposed to different management styles, different business procedures and all kinds of other things that will help you tremendously when you DO then go off and be an entrepreneur and open your own business!!

If you are meeting with the banks next week, go for it, and maybe they'll prove me completely wrong!!! However - if they say no -- stop there, for now. Don't go looking for someone that will say yes. Because there ARE sharks out there who might. Instead, regroup, start stocking up some money, and keep researching and working on your plan. If it is a good one, and a sure money maker, that won't change a year or two down the road, but you'll have a lot better base to start from.

Not what you want to hear I know, but hopefully you will at least consider it.

[neon beach]

To be honest, I would recommend you take your degree and go out to take another stab at working in a "business" environment for a minimum of a year. Not only will you save up some money to go toward your future dream of opening a salon (and look a lot more stable to a bank), but you will also be exposed to different management styles, different business procedures and all kinds of other things that will help you tremendously when you DO then go off and be an entrepreneur and open your own business!!

Yup. ^^^