going to buy a distressed salon

[Tanning Queen]

How big is the salon over all? Sq ft? Width and length. Can you expand to the stores next door?

[Brian Oshman]

Originally Posted by hiii98

8 Beds total = $40,000 in beds (used)

(3) 10 minutes lay downs (Dr. Kern Beds)

(3) 20 minute Lay downs (Dr. Kern Beds)

(2) stand-ups (Sun Dome Speed Systems XL48

That is only about $9,000.00 worth of pure garbage.

[hiii98]

In my location

Operations are regulated and training is required

damn

[hiii98]

Interesting that now the rent went from $650 to $1200/month. And a 10 year lease?????? Do you have to personally guarantee that? If so, you are stuck paying that even if you close. Some landlords dont allow you off the lease even if you sell the space to soemone else. They just add their name so you BOTH are liable. NOT good.

from what i understand now he changed the lease amount for the 3rd time to 1,000 a month (it was 650, then 950, now 1,000)whatever the case i will be negotating the lease amount in my offer. The 1,200 and 10 year lease was from the previous owner 2 years ago. YES he is asking for a personal guarantee... i dont like those...

[hiii98]

Originally Posted by Tanning Queen

How big is the salon over all? Sq ft? Width and length. Can you expand to the stores next door?

Its weird yet another bs answer from the landlord, but he origionally told me it was 650 sqft then 950 now apparently 1000. He wants $12.00 sq ft even though his lease at states $8 sqft.

Yes there is definatly room to expand which is the good new. I could easily add 8 -10 more beds

[hiii98]

Originally Posted by Tanning Queen

How big is the salon over all? Sq ft? Width and length. Can you expand to the stores next door?

Its weird yet another bs answer from the landlord, but he origionally told me it was 650 sqft then 950 now apparently 1000. He wants $12.00 sq ft even though his lease at states $8 sqft.

Yes there is definatly room to expand which is the good new. I could easily add 8 -10 more beds

[Tanning Queen]

SOrry I am such a bitch on this but seriously, this landlord sounds REALLY shady! NOthing adds up with this guy. He changes his story all the time. What a tool. LOL!

If you get a chance, go in and look at the beds. See if any have facials or what types of lamps (100w or 160w). Would be better for model types tho.

Really, get those demographics for the 3/5 mile radius. Really the 3 miles is more important. People dont drive far to tan. Find out how many tanners actually tanned last year and this year so far. Talk to Sandi and have her walk you thru the process of finding that report. Or have the stupid landlord talk to her. I dont know tantrack so i cant help ya there.

Could be the 552 is the total number ever tanned. Not the actual current tanners. They might have tanned one time and never came back.

[tuscantan]

everything sounds too "shady" IMO....Is it really worth the headache if you are already having issues with this landlord?!?

[tuscantan]

TQ...thinking the same...starting to get scared now...

[JustTans23]

If you want my opinion I wouldn't do it just because the landlord sucks. I have super cheap rent but if I had known what I was going to have to put up with from my landlord when I opened this salon I wouldn't have done it. They can make your life hell and there is nothing you can do about it. My landlord has both directly and indirectly hurt my business, insulted my clients, and made my life hell. Sounds like your landlord is even worse.

Anyway, that was just a warning about landlords, you still need to make sure you get some time in there to run the reports and see what its like and talk to the employees.

[hiii98]

Lol i still cant get over that "chickypoo" term. It described the girls up front so well! lol. I look forward to hiring my own team if any of this gets green lighted by you guys.

How do i find out the 5 mile radius demographics? I'm sorry i'm sure you've already stated several times. Is there a online website that i can research this on? Is this information free somewhere? I might go there today and take some pics of the beds. I'm extremely paranoid about sharing the location as this business is not actively advertised and I lost out on purchasing another tanning salon to a competitor.

[hiii98]

My personal take on the landlord is he seems like he would work out (i'm in the real estate/leasing field now). I think he is just trying to negotiate the best package for himself initially as any good businessman would do. I'll chop him down to size with my offer and if he wont bite, i'll bail. Also once everything is on paper and my attorney and realtor review the agreement i see no reason to sweat it in the future. (or should i?)

[Tanning Queen]

Well if you ask Just Tans, she will tell you differently. There is now way to put in the lease all the little crap that has been done to her. That landlord has talked trash, allows other tenants to put BIG trucks in front of her salon ont he weekends, thus blocking her from sight. etc. So many little things you cant even imagine.

THis guy sounds like he could do the same. I would demand your own meter, even if he is paying for utilites. You can better track things if he comes back and ups your rent or CMA because of it. You will need more electric and AC for sure.

[Tanning Queen]

SMU Consulting

there is his website. He is really good. Talk to him. He will be able to help you out more than you know.

[JustTans23]

[JustTans23]

^^ and that I have come to find out, was the least of my problems

[SandiGirl]

Originally Posted by hiii98

Its weird yet another bs answer from the landlord, but he origionally told me it was 650 sqft then 950 now apparently 1000. He wants $12.00 sq ft even though his lease at states $8 sqft.

Yes there is definatly room to expand which is the good new. I could easily add 8 -10 more beds

It has 8 beds already in a possible 1000sq/ft and you think there's room for more in that unit???? Or is there a vacancy next door?

[SandiGirl]

Where did the $650 rent come from?

I think you can use all this as tools if you see a light at the end of this tunnel. He's all over the map which means he has/had no set business idea/plan/organization. I think he just wants to own property and doesn't by much attention. He's a messy guy.

[EliteMike]

Offer me 200K and you can have my salon. It will make you lots more money than that place.

[SandiGirl]

Ooooooh just found report I didn't know about. Visit Comparison by year. It gives you the total tans for each month, every year. I'd down tanners. But if my money is the same or up, that's good.