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Listing ID: 3086825

Well Established Massage & Spa Business in Busy Tourist Sector For Sale

Sirimangklajarn road, Chiang Mai, Thailand

THB 1,850,000

(Furniture / Fixtures and Inventory / Stock included)

Revenue: THB 1,700,000

Cash Flow: THB 700,000

Business Description

We are now offering for sale our well established, massage spa business in a highly desired location.
We have built the business from nothing in 2011 into a highly respected and reputable mid range massage spa.
It has full certified accreditation from the ministry of health and the current lease runs until April 2020.
This is a great opportunity for someone to invest in a very successful brand, which when you take into consideration the location and the business establishment together with a full inventory this represents true value.
Ideal for someone with a great work ethic and determined to succeed. no experience necessary (we came from Hotel and construction background)
Briefly we have 4 chair foot massage room, kitchen with washing machine, steamers, microwave, handwash area all therapists uniforms and customer uniforms. Thai massage room with 4 beds, private double room with oil massage bed and private shower, second double/triple oil massage room with double shower. a further double private room with 2 oil massage beds. two separate bathrooms and aircons and wall fans in each room. The reception area boasts a point of sale touchscreen computer linked to a bill printer. a banking credit card machine and wifi facility. Each room has been wired with loudpseakers so music is heard throughout but being controlled from the reception area.


Details
Lease: 3 year renewable lease expires Apr 2020
Rent: 20,000bt (we have been paying 6 monthly to keep the rent low)
Our selling price includes 6 months rent and transfer of lease to new owner.
Annual Building tax:currently 9k (the Govt standard is 1.5x rent)
Turnover:circa 1.65 million/yr ave for last 5 years.
Staff: 1 full time receptionist/owner, all therapist staff are freelance
Standards: certificate of health from Health authority for 6 years already.
I keep meticulous financial records of every expense,income, every month for the last 8 years.

Property Details

Size:

50m2 per floor x three floors

Years Established:

since April 2011

Property Type:

Lease

FF&E:

THB 200,000

Inventory Value:

THB 20,000

Other Details

Business Location:

Busy main road location in rapidly developing tourist area adjacent the Nimmen tourist trap

Premise Details:

Traditional 3 storey shop house style. ground floor is reception, kitchen and 4 foot massage chairs. middle floor is thai massage and private double oil massage room. top floor two private double rooms and bathroom

Competition:

We are a niche mid range boutique spa. We have two top end places near us which have never impacted on our market. There are no other mid range places in the immediate vicinity. There are a few cheap massage shops around but our standards and quality has never given us any cause for concern from that competition.

Expansion Potential:

Physical expansion of the premises is limited. We lived on the top floor for 3 years but realised we needed the room for customers. We converted the room into another private room and small sauna. However growth of the business can easily be exploited with advertising. We have never paid for advertising other than our own website and facebook page.

Living Accommodation?

There is no living accomodation at present although we lived there ourselves for 3 years. The room we converted can of course be converted back but it brings good revenue as a massage room.

Planning Consent:

We have acquired the now pre requisite health authority standards and certification for 6 years. Measures addressed included fire extinguishers, fire alarm bell. first aid,signage, management and customer procedures, emergency floodlights.

Operation Details

Employees:

1 the owner has worked single handedly as receptionist and manager but we have employed three receptionists, one for 36 months, one for 6 months and one for 4 months during the last 8 years

Trading Hours:

11am-9pm but if customers arrive at 8,30 then we are open until midnight.

Support & Training:

We are willing to dedicate some time helping and ensuring a smooth transition, in particular with operations and procedures and the point of sale computer system

Miscellaneous

Reason For Selling:

Quite simply my wife is mentally and physically tired and needs a rest after 8 years working very hard and often long hours. We now want to spend our time together and develop our own house into a guesthouse, the house which I built myself entirely with income generated from the spa.

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