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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

Why take a massive risk setting up a new business, is the location right?, wasting time, money and resources in planning and marketing to establish everything you need when you can hit the ground running with a complete set up, well established, and successful business from day 1
A return on your investment in less than 3 years.
SPAromdee has been established 8 years in a prime tourist location. We have Air BnB next door and 7 hotels within a 5 minute walk, and two more currently under construction.
We have run the business as a mid range massage spa and of course the income is giving us a good standard of living.
Included in the price for the takeover will be:
Our brand name, its now very well known.
Our business logo, and embroidered logos on towels and uniforms.
Our website, our fan page and trip advisors genuine 5* reviews not paid fake reviews.
Full Health Authority accreditation and certificates.
We have had very reasonable building rent and currently in the 3rd 3 year lease.(apr 2020) The landlord is great, he has never bothered us once in 8 years.
We will help with the transition of the business, procedures, service procedures, cashier system,
We have all the contacts and best prices built up over years for all goods and stock.
We have kept a full 8 years records of every expense, every customer, every day.

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:

We have grown this business from its inception in 2011, taking turnover to around 1.7 million and a 600-850k return annually. We have taken great pride in the quality of our products and service that has made us a stand apart boutique spa. After 8 years, we need a change. My wife is quite simply and understandably mentally and physically tired after 8 years working very hard to make the business a success, often with long hours. We are looking forward to spending time together and focusing our efforts in the house and guesthouse which I have been building entirely with income generated from the spa

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