|
Below is an in-depth analysis and side-by-side comparison of Executive Tans vs Planet Beach including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $125,000 - $499,000 | $196,875 - $402,500 |
Franchise Fee | $25,000 | $39,950 |
Royalty Fee | $795/mo. | 6% |
Advertising Fee | - | 2% |
Year Founded | 1991 | 1995 |
Year Franchised | 1995 | 1996 |
Term Of Agreement | 10 years | 20 years |
Term Of Agreement | 10 years | 20 years |
Renewal Fee | $500 | - |
Business Experience Requirements |
||
Experience | Our Most Successful Franchisees: Love working with people to help them look and feel their very best Have a passion for the beauty and wellness industry Enjoy managing a team of professionals. Embrace working within established and proven systems Understand the worth of recurring revenue streams and retail opportunities Recognize that technology is changing the way the world rejuvenates, by creating more consistent experiences using the latest innovations in spa automation | |
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/Yes | No/No |
Start-up Costs | No/Yes | No/No |
Equipment | No/Yes | No/No |
Inventory | No/Yes | No/No |
Receivables | No/No | No/No |
Payroll | No/No | No/No |
Training & Support |
||
Training | - | - |
Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | - |
Marketing | Co-op advertising, Ad slicks, National media, Regional advertising | - |
Operations |
14% of all franchisees own more than one unit Number of employees needed to run franchised unit: 1 - 2
Absentee ownership of franchise is allowed. (81% of current franchisees are owner/operators) | - |
Expansion Plans |
||
US Expansion | - | - |
Canada Expansion | No | No |
International Expansion | Yes | No |
Wayne Smeal opened the first Executive Tans in Denver in 1991. The company now operates salons throughout the Southwest that offer customers tanning services and massages as well as swimwear and tanning products.