ok
Startup costs
$950 for rent(maybe first last security) that will be up to D, I added two months in the total
$5000(using an average you need at least mid level beds)x20=100,000
$8000 for a decent sign (once again a mid level estimate)
$2000 for advertising(that will be what you make of it just a mid level estimate)
$1000 for computers/store supplies(that will be what you made of it just a mid level estimate)
$300 ish to get your insurance started
$250 ish for business permits/lic. (I’m basing this off NC, I’m sure NY will vary)
$113,450 It doesn’t seem like a lot of money, however just a low estimate. Just make sure you have a good accountant as well.
There’s more im forgetting it’s been a long day so I apologize. Just keep in mind anyone that wants to get involved, whether it’s a loan or personal funds you are going to use to open this. YOU NEED to have a 6 month MINIMUM (I would recommend longer) cushion set aside for worst case scenario. It’s going to take time to turn a profit and you still need to be able to live.
They closed last yrfor a few reasons I’ll list below.Please do a little MORE research before you somewhat derail this thread.I’m 100% positive you didn’t mean to do it and were just giving everyone a heads up but there is definately a much lower level of excitement here now.That would be a totally scumbag move if I tried to pass it off as the only one and then there is one a few miles away.
Why they closed-Biggest reason,they were in the middle of nowhere.Rememeber location,location,location period.Plus From what I hear they were a lil expensive and had outdated equipment.Not sure,just what I heard.Biggest reason was out of the way.
–2 months free rent to get you started and so there is less stress on you.Remember if you succeed,I succeed
$8,000 for a decent sign??!?!???!?!?!?!?! if you have benderson money yes,Do you need that?Absolutely not.Friends of mine own a deli in my other plaza.If they spent more then $100 on their sign I’d be shocked.Everyone told them 3 yrs ago they wouldn’t make if for all sort of naysayer reasons.
I believe they are AVERAGING $10-12K a week now.All with a $100 sign.
$2000 for advertising?LOL You’re on Grand Island.By the second week you’re open, 10,000 people will already know you are open.All you need is an Arrow sign for 30days and some balloons and flags.
You sure the hell won’t need $100,000 in equipment to start up.I would get 4-6 new beds and maybe 4-6 good used beds to start.Be very nice and excited to your customers when they come in and tell them you will be buying more new beds in the upcoming months.If you’re sincerely nice and caring,people will 100% understand and help you every way they can
Your other figures for fees and such are probably pretty close so I’ll let ya have them.
100% agree.You might get some people from out of town that work on the island that might stop during lunch break or possibly after work but this is definitely mostly Island only business.
LOL you would be the only one on the Island in a town of 20,000 people.Like you say in your reply people will stick to their local tanning place and you would be it.
Sorry I’m all about doing things right the first time. If 10k people find out about it and you have sub 10 beds, turns into a long wait and unhappy customers. I ran a tanning bed for over a year, not like I would know this first hand or anything.The truth is people do not want nice they want satisfaction(typical person tanning is the superficial type). Presentation is everything, if it was my store I definitely wouldn’t cheap out on a sign.
Neither of us are wrong by any means so don’t take this the wrong way you’re obviously very successful as well. We all have views and i’m just explaining mine.
“Why they closed-Biggest reason,they were in the middle of nowhere.Rememeber location,location,location period.Plus From what I hear they were a lil expensive and had outdated equipment.Not sure,just what I heard.Biggest reason was out of the way.”
If you have ever gone to a tanning salon or know how it works you CANNOT cheap out on beds, buy used, just have baseline beds etc. You need to also make sure you follow the guidelines for when bulbs need to be changed which can be costly as well.
Someone posted awhile back about a law not allowing minors to go tanning (I’m on a cell and don’t feel like searching). I believe kids of any age can tan as long as they get parental signature. The high school crowd would be an absolute must… Just saying.
[engineer]A typical tanning bed uses, say, 28 bulbs powered by 100 watt ballasts. So 2800 watts for 10 minutes at say $0.40/kwh power rate (what is it around here???) equals like 20 cents per customer. If you have 100 customers per day 30 days a month that’s $600/mo to run the beds. Plus lighting and all the other typical usage tells me that $1000/month is probably a good conservative but reasonable number.[/engineer]
Factor in the cost of bulbs on an average of $12 each(just an average when buying a few hundred may vary depending on quantity)x28x20=336 bulbs that need to be replaced every 2-3 months depending on usage=$6720.
(a bulb need to be replaced WAY before it goes out just an FYI)