**update 2**
Like everyone else, we took a 4 month closure as a hit however the landlord was very lenient, and we even extended the lease for another 3 years. We appreciate the value of the business has been slashed but we have upgraded the facilities to comply with the health authority and have attained this time a 5 year health and safety approval. We have been open again for business whereas several massages around us have given up which benefits us highly, however we are still not in a position to cover the expenses.
We are still pursuing a sale and have dropped our price to 600,000. For anyone prepared to make an investment and covering the rent for what could be a few months you have yourself a business that was worth 3 times this amount less than a year ago. (when tourists are around) ; yes you can payback your investment in less than a year.
SPAromdee has been established 10 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 in April we renewed our 3 year lease with confidence to take on a 4th term. The landlord is great, he has never bothered us once in 10 years; and has really tried to assist us with 2 rent reductions recently.
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 10 years records of every expense, every customer, every day.
Details
Lease: 3 year renewable lease expires Apr 2023
Rent: 20,000bt (we have been paying 6 monthly as a negotiating tactic to keep the rent low)
Our selling price includes transfer of lease to new owner.
Annual Building tax: currently 9k (the Govt standard is 1.5x rent)
Turnover:circa 1.65 million/year for last 5 years
Staff: 1 full time receptionist/owner, all therapist staff are freelance
Standards: certificate of health and safety compliance and operating standards from Health authority for 6 years already. New standard certificate is good for 5 years now.
Brief inventory
4 foot massage chairs
4 thai massage mats
3 double private rooms, with massage beds, 2 with private shower area all with aircon and wall fans
Kitchen with new washing machine, fridge, microwave, kettles, water tank, two pumps, steamers
All furnishings and linens, therapists uniforms.
Point of sale touch screen computer and cashier system, wifi, integrated music system with speakers throughout.
Monthly advertising banners
Website: Sparomdee
Location
We are on the busy Sirimangklajarn road location in a rapidly developing prime tourist area
Premise details
It’s a traditional 3 storey shop house style, ground floor is reception, kitchen and 4 massage chairs. Middle floor is thai massage and a private double oil massage room. Top floor has two private double rooms and bathroom
Competition
We are a niche mid range boutique massage spa. We have two top end spas near to us which we have benefited with for many years accommodating their overspill. There are no other mid range massage places within 200m. There is a lower end place two doors away but they have their own clientele and possibly benefit from our overspill. **one of the top end spas has now closed permanently and the massage two doors away is also no longer in business, leaving us now with no immediate competition**
Health Authority
We have reached and acquired the pre requisite health and safety standards for the last 6 years since they were introduced. Measures addressed included fire extinguishers, emergency lighting, management and customer procedures, first aid boxes, fire bell alarm system, signage
Employees
The owner has worked single handedly as receptionist and manager but have employed three full time receptionists during our time which allowed us to open for longer hours and increase the income.
All therapists are freelance, so we only pay when they do a job, not for sitting and waiting.
Reasons for sale:
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 so long, we need a change. My wife is quite simply and understandably mentally and physically tired working very hard to make the business a success, often with long hours.**and now to add to this the stress of Covid and trying to make ends meet is not helping to say the least.
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
This is a great opportunity for someone to invest in a "recently" very successful business, which when you take into consideration the location and the business establishment together with a full inventory this represents true value; as long as you appreciate the current circumstances.
Contact me here for more details, serious enquiries only.
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