Financing your business - TanToday - Helping Salon Owners, One At A Time, Since 2000!

Pink · 6th August 2005, 02:37 PM

How much do you think it takes to open a new salon? How are you funding your purchase?

EAST COAST TANNER · 6th August 2005, 02:41 PM

Costs Us $175,000 - We Only Financed A $75,000 Loan For Operating Capital And Paid Cash For All Our Equipment And Furnishings. It Certainly Isn't Cheap And We Did Have Our Finish Out With Our Own Bare Hands.

Pink · 6th August 2005, 02:44 PM

I know the cost of poker has gone way up! I wonder how so many salons keep opening. The people I feel bad for are the ones who buy a franchise and they put them in a huge center with only 6 beds..how do they think they will make it?

EAST COAST TANNER · 6th August 2005, 02:50 PM

I don't know. I don't like franchises because we like to do thing "OUR WAY" - sort of like you I suspect. I really believe some of the stand-up only franchises will eventully bite the dust. I'm finding most people still love the stress free relaxation of laying down and taking a short nap. None of our beds are more than 12 Minute Sessions and our Stand Up is only 8 minutes and I don't sell anywhere near as many packages in the stand up as the beds. I only use the stand up once every 7 to 10 days myself just to fill in. I found out through the grapevine recently that a stand up franchise near me is in financial trouble and they have only been open about a year. I

Pink · 6th August 2005, 02:58 PM

Yeah, that is another one I do not understand but they have 200+ locations. I could see if you were located in Manhattan. I think at times some are just interested in getting the location back. I do not mind franchises if they have a great concept and they do the right things for their franchisees. I just do not like it when I see people getting taken advantage of..

I know how expensive it is to get started, and I hope people go into it with money and a real view of what they will accomplish.

6th August 2005, 02:37 PM	#1 (permalink)
Pink Princess Pink Join Date: May 2005 Location: Florida Posts: 792	Financing your business How much do you think it takes to open a new salon? How are you funding your purchase?

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6th August 2005, 02:41 PM	#2 (permalink)
EAST COAST TANNER All Star Join Date: Aug 2005 Location: east coast Posts: 114	Costs Us $175,000 - We Only Financed A $75,000 Loan For Operating Capital And Paid Cash For All Our Equipment And Furnishings. It Certainly Isn't Cheap And We Did Have Our Finish Out With Our Own Bare Hands.

6th August 2005, 02:44 PM	#3 (permalink)
Pink Princess Pink Join Date: May 2005 Location: Florida Posts: 792	I know the cost of poker has gone way up! I wonder how so many salons keep opening. The people I feel bad for are the ones who buy a franchise and they put them in a huge center with only 6 beds..how do they think they will make it?

6th August 2005, 02:50 PM	#4 (permalink)
EAST COAST TANNER All Star Join Date: Aug 2005 Location: east coast Posts: 114	I don't know. I don't like franchises because we like to do thing "OUR WAY" - sort of like you I suspect. I really believe some of the stand-up only franchises will eventully bite the dust. I'm finding most people still love the stress free relaxation of laying down and taking a short nap. None of our beds are more than 12 Minute Sessions and our Stand Up is only 8 minutes and I don't sell anywhere near as many packages in the stand up as the beds. I only use the stand up once every 7 to 10 days myself just to fill in. I found out through the grapevine recently that a stand up franchise near me is in financial trouble and they have only been open about a year. I

6th August 2005, 02:58 PM	#5 (permalink)
Pink Princess Pink Join Date: May 2005 Location: Florida Posts: 792	Yeah, that is another one I do not understand but they have 200+ locations. I could see if you were located in Manhattan. I think at times some are just interested in getting the location back. I do not mind franchises if they have a great concept and they do the right things for their franchisees. I just do not like it when I see people getting taken advantage of.. I know how expensive it is to get started, and I hope people go into it with money and a real view of what they will accomplish.