Norwalk & Fairfield Connecticut Business for Sale
2 Tanning Salons For Sale in Fairfield County CT |
| Norwalk & Fairfield, Connecticut |
This Tanning business has two salons located in the Connecticut towns of Norwalk and Fairfield in the high income county of Fairfield, CT - (see Demographic info attached). The Norwalk store is 1,800 s.f. and the Fairfield store is 2,058 s.f. Both are located in shopping centers with traffic counts above 18,000 cars per day.
The stores were franchise operations now it will be the Buyers choice to keep the name under a Licensing Agreement or re-brand and go independent. These salons are unlike any other tanning salons you'll find. The stores have an above average number of booths so appointments aren't necessary. But their real claim to fame is their vertical tanning system.
The stores do not have lay down beds - all their booths are stand-ups. Why? Stand-ups are the most comfortable, sanitary way to achieve the shade tan you are looking for. Think about it - if the attendant in the tanning salon you go to doesn't do a good job of cleaning the bed you might be laying down in somebody's body fluids - which may not be a good thing. Also, when you lay down your skin and muscles get condensed so when it's time to roll over there will be hard spots that won't take the tanning like the other parts did. Also, both locations are fully air conditioned, clean and comfortable.
The hours of operation at both locations are the same. Monday through Friday 9:00 to 10:00, Saturday & Sunday 9:00 to 9:00. Each salon has a manager who works 30 - 35 hours per week. Regular part time labor is used for the remaining hours the stores are opened. You only need 1 employee to operate each store during working hours. Each store is opened 89 hours per week means you require 178 labor hours for both salons.
Combined revenues for both salons was over $1,022,212 in 2006. In 2007, the Owner started visiting the stores less and "kinda” lost interest in the business because of family obligations. Business started going down from there [other reasons shouldn't be ignored - like the economy, the 10% tax increase on tanning (2010), the latest publicity with tanning and cancer etc.] to 2010's combined revenues of $408,274 (detailed revenue charts are attached).
Owner's Cash Flow (Seller's Discretionary Earnings) at this volume will be +/- $45,204. With new management and an improving economy a 20% increase in revenues seems likely resulting in Owner's Cash Flow over +/- $110,250. Should this level of earnings be attainable, after an Owner/Manager's Salary of say $50,000, an EBITDA Cash Flow of $60,250 remains. This would represent a 24.3% ROI if you pay cash for this business and an 11.0% ROI if you take the Seller's financing terms. (of course if you add back the principal you paid the ROI would jump to 41.7%.
This is the current picture of what is going on with this business. The Owner lives in PA with no time to supervise, promote or advertise her absentee run business like she use to. The economy is beginning to improve. There are no longer monthly franchise fees. The stores are poised to begin reversing the negative trend recently occurring and there is no one to steer the ship into the sunshine - that's why this business is for sale at such a bargain price. That is why this business would be a good deal for an Owner/Operator.
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Financials |
| Price: $219,000 |
| Gross Income: $408,000 |
| Cash Flow: $45,000 |
| FFE: $0 |
| Inventory: $0 |
| Real Estate Value: $0 |
| Source Data: |
About the Business |
| Listing ID: #304 |
| Year Established: 2001 |
| Financing: |
| Training: Owner will train |
| Facilities: |
| Competition: |
| Growth: |
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| Business Listed By |
| Name: C. J. (Charlie) Vlahos |
| Company: Blanket Real Estate |
| Phone: 203 746 7272 |
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| The information in this listing has been provided by the business seller
or representative stated above. The Business Broker Journal has no stake in the sale of this business, has not verified the accuracy, completeness, and assumes no responsibility for this advertisement. Read our Terms and Conditions for more information. |
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