Please Quote Reference B05829
Hilton Smythe welcomes to the market M P Tanning, which was established by our client in 2018, due to family commitments our client is now looking to sell the business.
M P Tanning is a tanning centre with three tanning machines, two being upright and one of those having a vibroplate. The business also has a nail bar that brings in approximately a third of the turnover. There are plenty of opportunities for expansion by turning part of the reception area to a beauty salon or hairdressers.
The business has built a strong local customer base and has 5* reviews across the board on its Facebook page, which is the only way, apart from word of mouth, that the business advertises.
Therefore, there are more opportunities to expand the business by adding further social media sites to the advertising portfolio or creating a website.
There are many reasons to buy the business including:
- Low outgoings, the annual rent is just £7,000, this includes all electricity, heat and water.
- No business rates are payable.
- Large database of customers.
- All equipment new in 2018.
There is room to expand the business by considering:
- Adding more beauty treatments.
- Adding hair dressing.
- Creation of further social media pages to promote the business.
- Creation of a website to promote the business further.
- Open 7 days a week.
- Introduce late night opening.
Hilton Smythe highly advise early viewing to avoid disappointment.Location
M P Tanning is in Newmarket, a famous racing town on the Suffolk/Cambridgeshire border.
The business itself is located in a suite of 2 offices that occupy the 2nd floor of a large building that is situated on a main shopping street, just off the High Road and next to The Guineas Shopping Centre, all bringing in a high footfall to this area of this popular market town.
Newmarket offers low cost parking at only £1 for 3 hours across all the car parks in the area and the business is accessible to most of the local car parks and comes with an allocated parking space for the business owner.
Newmarket is generally considered the birthplace and global centre of thoroughbred horse racing and a potential World Heritage Site. It is a major local business cluster, with annual investment rivalling that of the Cambridge Science Park, the other major cluster in the region. It is the largest racehorse training centre in Britain, the largest racehorse breeding centre in the country, home to most major British horseracing institutions, and a key global centre for horse health. Two Classic races, and an additional three British Champions Series races are held at Newmarket every year.
Newmarket has over fifty horse training stables, two large racetracks, the Rowley Mile and the July Course, and one of the most extensive and prestigious horse training grounds in the world. The town is home to over 3,500 racehorses, and it is estimated that one in every three local jobs is related to horse racing. All the above means there is a large working population in the area who use the local businesses and the town also has a population of 20,380 as per the 2011 census, this does not include the population of the many surrounding villages.Premises
A communal staircase takes you to the second floor of the building.
On the second floor are the shared toilet facilities for the 3 businesses on that floor.
An entrance door leads to the salon and directly into the tanning and nail bar room.
There is a fully equipped nail bar, hanging for retail sales and doors to the 3 individual tanning rooms.
Room 1 has an Ergoline lay down tanning bed and changing area.
Room 2 has an Acab stand up tanning system with Vibroplate, changing area.
Room 3 has an Ergoline stand up tanning system and changing area.
Off the main tanning and nail bar room is the reception area, within this area is:
- Reception desk with card machine.
- Soft seating in the waiting area.
- Product display.
- Children’s play area.
- Off the reception area is the staff kitchen.
Both the reception area and the tanning & nail bar area have room for expansion by the new owner considering adding hair dressing stations and further beauty treatment areas.Tenure
We are advised the business is being sold as a leasehold business opportunity, with a renewable 3-year lease from 2018.
The rent is just £7,000 per annum, this is paid quarterly, and the new owner will need to pay a quarter in advance as a deposit.
The rent also covers all electricity, ideal for a tanning salon, water, light and heating.
Our client informs us that the premises is business rates exempt.Hours
Monday - Saturday: 9am – 6pm
However, due to family circumstances the business is not open 6 days every week.
The business could be open 7 days a week to increase turnover.
A late night during the week could also be considered.Staff
The business is run and managed by our client.Financial Profile
M P Tanning generates an advised turnover of circa £20,000 per annum.
The asset value is in the region of £15,000.
The average stock value is around £300.
For further information reference B05829.