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A few ways to sell your tanning salon faster!

10/27/2014

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The average time that it takes to sell a tanning salon, spa, gym or most any brick and mortar style business depends upon who you ask.  It can also depend upon the unique dynamics of your tanning salon as well as the state of the current, local economy.

Conservative estimates say it takes between one and three years to sell a tanning salon or similiar business.  Other estimates are more optimistic, noting that it can take between four months and two years, with the bulk of owners selling after about a year.

No matter what your local economy and tanning business market is like, there are things that Tanning salon owners can do to sell a Tanning business faster.  The next few tips are universal and work in every kind of economy for most any tanning salon, spa or gym business. 

1) Offer seller financing.  Tanning Salon sellers who will only accept a full, up-front cash payment for their business may be severely limiting their market.  A lot of prospective buyers, particularly first-timers, have a limited amount of cash to access.  This is because many prospective first-time buyers secure their loans based on their mortgages.  Since a lending institution will only grant a loan based on a percentage of a borrower’s mortgage, the buyer is usually limited very strictly to a maximum amount. Offering your own form of financing will free up more buyers, making it easier for prospective owners with limited cash to purchase your Tanning Salon.

This involves allowing a prospective buyer to make a partial down payment and then make ongoing monthly payments directly to you for the balance.  Demanding just a partial payment up front with the balance to paid out over several years makes it easier for a buyer to get a foot in the door.  It also allows him or her the option of purchasing a business that is worth more than what a lending institution would be willing to loan them.

2) Set a realistic price tag.  A Tanning Salon owner that has poured his heart and soul into building a business tends to equate emotional investment with a dollar number.  Objectivity can fly right out the window, and you end up with a selling price that is so high no one even wants to look at your tanning salon.  This can add several months and even years to the time it takes to sell.

Similarly, some owners over-price with the idea that a potential buyer will want to negotiate the price.  The owner thinks that over-pricing and then dropping the price later is a good way to get what he really wants.  Again, this strategy can come back to haunt you when you find you can’t even get someone in the door to look.

It may be very helpful for most tanning salon owners to hire a professional tanning salon consultant who has had experience in the unique market of buying and selling tanning salon. It can be of help to have a consultant with insight and no emotional investment in your business  that will help you arrive at an initial selling price that will get you what you want without scaring people off.  Ultimately it may shave months off your time on the market and even help yield a higher sale price and better selling terms.

3) Hire a tanning salon consultant.  Not only will a tanning salon consultant help you set a realistic selling price, some tanning consultants also has extensive data base's of prospective buyers.  Which are leads that most tanning salon owners probably would not have had access to on there own.  A tanning salon consultant can accomplish in months what might take years to do for tanning salon owners to accomplish.

4) Invest in strategic advertising to sell your Tanning salon.  One of the biggest issues when it comes to selling a Tanning Salon is how and where to advertise.  You can’t just stick a “For Sale” sign on your Tanning Salon, and letting the word slip out to your customers that you’re selling your tanning salon could be a recipe for financial disaster. As such craigslist, local paper, Facebook and ect are not ever advised, Advertising to the general public will often cannibalize your tanning salons sales. Often tanners become fearful that there EFT's or packages will not be honored by the new owners, or that the new tanning salon owners will change things around, so the tanning salon is no longer to there liking. 

Of course, you’re on a limited budget, too, when it comes to advertising.  So the money that you do have to spend on marketing and advertising needs to be allocated in the most effective manner possible.

The first thing you should do is identify your target market.  If you’re not sure who this is, your tanning salon consultant can be of great assistance (call one at 310-492-3704).  Once you figure out who you’re selling to, you’ll be able to decide intelligently where to spend your advertising dollars so that you sell sooner rather than later.

5) Make sure you have all your paperwork.  A prospective tanning salon buyer may want to see your financial paperwork from the last 1 to sometimes 3 years (but not always).  This may include your balance sheets, assets and liabilities, income and regular bills (such as utilities).  It will be helpful to put all of this paperwork together into a complete and organized portfolio that you can hand to a potential business buyer, or even better hand-off to your tanning consultant for them to allocate  to the appropriate perspective buyers later on.

You should also ensure that you know exactly what paperwork you have and that you understand it all.  Accounting practices are sometimes befuddling to tanning salon owners, so you may need to sit down with an accountant and have him/ her explain anything to you that you don’t understand or are unclear about.  You don’t want to look like you don’t know what you’re talking about when you’re negotiating with a prospective tanning salon buyer.  You’ll increase your chances of selling faster if you know and understand all of your numbers. Of course from the time your tanning salon is listed for sale to the time you will need to go over detailed financials with a serious tanning salon buyer may be at the very least a couple of weeks, so you have time to get these things in order without distress.

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    Author

    Adam C

    Is an industry veteran with over a decade in the industry. one of the highest level producers in the industry at nearly 2 million a year in personal retail sales for corporate salons, before owning franchises of his own, and later his own successful chain that took over 16 brand names before Adam sold out.

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      • Kentucky Salons for sale
      • Louisiana Salons for sale
      • Florida Salons for sale >
        • Orange City, FL (Volusia County) Tanning Salon
      • Georgia Salons for sale >
        • Atlanta, GA (Paulding County) Tanning salon very profitable, Owner Absentee
      • South Carolina Salons for Sale >
        • Pawleys Island, SC (Georgetown County) Price slashed! Cash-flowing Tanning Salon
      • North Carolina salons for sale >
        • Wilmington, NC (New Hanover County) Tanning Salon
      • Orlando Salons for sale
      • Virginia salons for sale >
        • EFT! Just listed, Best Offer gets this Salon! With EFT!
      • Salons in the South West >
        • Arizona Salons for sale >
          • New Mexico Salons for sale
      • Salons in the Central USA >
        • Colorado Salons for sale >
          • Littleton, CO (Jefferson County) Tanning Salon For Sale
        • Illionis Salons for sale >
          • State-of-the-Art Tanning Salon
        • Kansas Salons for sale
        • Missouri Salons for sale >
          • North Kansas City, MO (Clay County) Tanning Salon
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          • Award Winning Tanning and Skin Spa $199,000
      • Salons in the North West >
        • Alaska Salons for sale >
          • Anchorage, AK (Anchorage County) High Pressure Tanning Salon$69K
        • Idaho Salons for sale
        • Washington Salons for sale >
          • Whatcom County, WA Established profitable hair, skin care, and tanning salon
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        • Maryland Salons for sale >
          • Worcester County Well established tanning salon business with two locations
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          • York County, PA Upscale Tanning Salon
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          • South County, RI (Kent County) Tanning Salon
      • Tennessee Salons for sale >
        • Lawrence County, TN Tanning and Health Spa
        • Williamson County, TN Tanning Salon
      • Salons in the East >
        • Indiana Salons for sale >
          • Indianapolis Coin Laundry and Tanning Salon
        • West Virginia Salons for Sale >
          • West Virginia Upscale Salon
    • TanningSalonLiquidations.com >
      • Tanning Salon Liquidation Website
      • 6-28-2015 Liquidation/All Sold >
        • Versa spa with heat/Sold
        • Heartland Ovation 3400/Sold
        • Versa Spas, Pura Booths, and Mystic HD from $3,500
        • Used Equipment/Make an offer
      • Buy Used Equipment/Request Info/Make an offer
      • Do a Leveraged Buy Out
    • Customer Lists For Sale
    • Client Care >
      • Mark Salon Sold! /Deactivate Listing
      • Marketing Options Cash flow of $75,000 to $99,000
      • Increase Sales >
        • Tanning and Spa Business Blog
    • Lower your electric bill now!
    • Join our Team >
      • EFT, Chargeback and Client Release Documents
      • UploadEquipment/StaffOnly
      • EFT Documents
      • UploadSalons/StaffOnly
      • Owner Verification
      • Equipment upload guidlines
      • M&A-data-entry
      • Sell Used Tanning and Spa equipment for the most Money Now! Required Documents
  • Sell
  • Equipment
    • Just Sold equipment >
      • ERGOLINE EVOLUTION 500 $1,500
      • Red Light ERGOLINE SUN-DASH RADIUS 252
      • EURO WALL SYSTEM WITH FRONT DESK
      • ERGOLINE AMBITION 250 #6
    • Aqua Massage used for sale
    • Med Spa equipment , save and buy via best offer, shipping and warranty ala carte
    • used aqua massage, shipping/warranty ala carte
    • Liquidation Tanning Beds and Booths, via best offer, shipping and warranty's are ala carte
    • Sell Equipment >
      • Have us Sell your Commercial Tanning Equipment for you
      • Sell Commercial Tanning Equipment to us
    • Buy Equipment >
      • Featured High Pressure Tanning Units
      • Featured Sunless Units
      • Used Tanning Equipment From $500
      • Used Spray Tan booths
      • Red Light Equipment >
        • Used Beauty Angel Website
        • Beauty Angel (used low hours)
        • Beauty Angels by Ergoline From $5,000
      • Used Spa Equipment/Aqua Massage/Hydration stations/Ect >
        • Aqua Massage Co Op Access Only
        • Hydration Station $1895 (minimum offer)
        • Spa Capsules, Hydration Station
      • Versa spa with heat $3,100 sold!
      • VersaSpa Liquidation sold!
      • Heartland Ovation 5400 Sold!
      • Ergoline Ambition 300 $1625 Sold!
      • Buying Equipment Q & A
    • Repair Equipment Request (national network)
    • UpgradeEquipmentNoCashNeeded
    • Tanning Equipment For sale
  • Request Information on buying a tanning salon
  • Increase Your Sales With Tanning Business Consulting
  • $200 Voucher
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