Is the tanning salon business a good business to invest in? ?
Posted by Sonni in: tanning businessIm wanting to purchase a tanning salon but not real sure of the potential profit of the business. Am I wasting my time and money or is it a good investment?
I would not. This is a luxury, and in a slowing economy it is an area where people can cut back.
Ask to see copies of the last 5+ years tax returns. keep in mind that good times were from 1990-2006, with exception in 1993-1994, and 2000-2002.
Have a CPA or professional business advisors look over the numbers if you need help.
Hiring or Firing?
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Tanning Salon Gold
I don’t think it’s a good business personally. Why not take a look at their books and see what kind of profit they’re making?
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I would not. This is a luxury, and in a slowing economy it is an area where people can cut back.
Ask to see copies of the last 5+ years tax returns. keep in mind that good times were from 1990-2006, with exception in 1993-1994, and 2000-2002.
Have a CPA or professional business advisors look over the numbers if you need help.
References :
Mucho competition. How are the books? How are demographics? Location? I’d be thinking tax loss, but maybe cash flow positive. The girls might make it worthwhile.
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BIZ OWNER
Depends on where its at. Look at the books. Not the tax returns; different objectives. You want to see the cash flow and expenses. Not the taxable income. The economy and health concerns can hurt the business. College towns are a good place for them, but when students leave town those businesses slow down a lot. Its a seasonal business too. Winter picks up and summer slows down when they can get a natural tan. Size up the competition and the potential customers in the area.
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