going to buy a distressed salon

[JustTans23]

^^ditto^^

[aimeekat]

Central FL is much nicer than PA. I say come take this one.

[tuscantan]

WOW, this thread is almost as popular as the "pooping" thread!

[EliteMike]

My salon is bigger than the one in FL! Plus I have a Magic, that machine alone is worth more than the entire salon you are looking at.

[Glowtanning530]

Oh I would work mine for a salary! Thats a bonus! You wont even have to work it

[hiii98]

Meet with the landlord/trustee caretaker today. The rent is 950 per month for 950 square feet. If i were to take an additional 530 square feet he will sell the business for nothing, and build out the business to my specifications. In other words remodel the flooring, knock out walls, drywall, paint ect.. I assume he is looking for a 5 year lease. Also the lease is transferrable if i sell the business. All electricity is included and i do have my own separate thermometer. The temp was set to 75 but i can set it to whatever i want and the AC unitS can handle it. The building can handle the additional beds electricity wise. And i have 6 months free rent on the 530 sqft space (as shown in picture). I'm at a absolute loss as to how i'm supposed to lose money here? Also to answer somone elses question, YES i have enough surplus money to survive not making money for a while. So he is going to remodel the entire business, i get to buy it for free, AC is more than adequate, and electricity/water is free. uhhhhhhhhhhhhh why the f(&*( are you guys still talking me out of this?!?! PLUS i have only one other competitor within a TEN mile radius and that guy is tiny, with a city population of 60,000+ people the rough demographics look good.

[Glowtanning530]

awww what was the pic of?

[hiii98]

which pic? Most likely your referring to the extra 530 sqft space (which is currently a women's gym)

[Glowtanning530]

now its showing up. when i posted it said it had been moved

[JeffK]

Atleast now I understand why you were bucking the advice here so much.. at this point, you have a free buildout by the sound of it..

If you have enough money to upgrade atleast a few of the beds to start, and keeping in mind you won't make any money between now and December - so enough money to keep you afloat - it may be worth a shot..

That said, virtually every other person that's participated in this thread is smarter than I am..

[Glowtanning530]

A wise man said if its too good to be true,
it probably is.

[Wicked1]

so the deal is you get all equipment etc that is currently in the tanning salon for free if you take a lease on the shop.. all for $950 a month plus free electricity... just trying to shorten what you have written...

[hiii98]

What do you suggest for the upgrades Jeff?

[JeffK]

Originally Posted by Glowtanning530

A wise man said if its too good to be true,
it probably is.

So this project has gone from being a sure path the bankruptcy to too good to be true?

[hiii98]

Yes WIcked1 that is the current offer he made to me and my realtor today as we measured every square inch. I think he wants a 5 year lease and a personal guarantee (but if i sell the business the lease would transfer out of my name he said, and we would put in writing of course). Also he wants me to take the additional space of 530 square feet for a total lease of 1480 per month. But i would only have to make a 6 month commitment for the extra 530 space and it would not be due until then. Also he is agreeable to doing a complete build out to meet my decor needs...flooring, walls, ducting ect...

So this project has gone from being a sure path the bankruptcy to too good to be true?

I think that is why i am getting so frustrated.. but i'm alittle shocked he dropped the price to zero today. Also i got on the Tan Tracks computer today and mashed the keyboard like a monkey foraging for ants... totally clueless after Sandi gave me screen shots to look for (which i forgot in the heat of the moment!)

[Glowtanning530]

Don't know, I just dont get things given to me often...
I am always looking for the "catch" I am a glass is half empty kinda girl.

[Glowtanning530]

I am not going to read 18 pages back i am new to this thread what equipment was there and how big are the room dimensions?I am assuming laundry is done off site...

[JeffK]

Originally Posted by hiii98

What do you suggest for the upgrades Jeff?

I have only three suggestions: Used, used, used.

You can get awesome beds for 30-50% of the price you'd pay new.. especially if you're willing to travel a little bit and get them.. Also, assume that the lamps will need to be replaced even if the seller claims they don't, so build that into your planning..

Aside from that, I wouldn't dare advise you on specific bed suggestions since I am only 8-9 months into my own salon and would prefer to defer that question to the more experienced salon owners on here who've been doing it for years..

[JustTans23]

Originally Posted by Glowtanning530

I am not going to read 18 pages back i am new to this thread what equipment was there and how big are the room dimensions?I am assuming laundry is done off site...

We have yet to get an answer to that question.

[JustTans23]

I have no advice as to what specific beds to get for upgrade but I would assume in order for anyone to give you that advice they would need to know the exact models and the year that you have now.