- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$490K - $517K
- Units as of 2021
-
4 0.0% over 3 years
Since its inception in 2003, The Palms Tanning Resort has worked to revolutionize the indoor tanning industry. With its corporate headquarters in Greenwood Village, Colorado, The Palms Tanning Resort seeks to provide its customers with unlimited tanning experiences. For instance, The Palms Tanning Resort customers can choose to go sunless (indoors), try a cocktail, relax in a sunbed, take advantage of red light therapy, and benefit from monthly rewards.
The Palms Tanning Resort may focus mainly on offering high-end tanning services; the tanning beds and products used are sampled from high-quality ingredients. With these luxurious resort experiences, a The Palms Tanning Resort franchisee may transport customers to a lush, tropical world where they can escape their everyday lives and benefit from the tranquility that comes with tanning services.
Why You May Want to Start a The Palms Tanning Resort Franchise
Apart from offering high-end resort services, The Palms Tanning Resort wishes to thrive on maintaining long-term and healthy relationships with its customers. The company puts its foundation in service, value, and quality. An ideal franchisee values healthy customer relationships and is interested in operating an indoor tanning business.
The Palms Tanning Resort may be a locally recognized market segment with salons throughout the Denver, Colorado metro area. In that case, opening a The Palms Tanning Resort franchise could have a more predictable outcome than investing in a completely new brand that may struggle to thrive in an already crowded and competitive industry.
What Might Make a The Palms Tanning Resort Franchise a Good Choice?
The Palms Tanning Resort has been franchising since 2003. It is seeking franchisees in select states across the United States. The Palms Tanning Resort aims to understand its target audience and loyal customers.
To be part of The Palms Tanning Resort franchise team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
How to Open a The Palms Tanning Resort Franchise
Before opening a The Palms Tanning Resort location, research your community to ensure that indoor tanning services can do well in your area. Due diligence is also important before signing up or committing to anything. To achieve this, you can seek out information from current The Palms Tanning Resort franchisees.
If awarded a franchise, franchisees may receive a great deal of support from The Palms Tanning Resort franchise brand throughout the franchising process. In addition to pre-opening training, The Palms Tanning Resort franchisees could receive support through brand awareness, marketing, research, and construction. Franchisees may also receive hands-on training and continued support after their franchise location has opened.
A typical franchise agreement runs for ten years. Franchisees may be allowed to renew their agreement if they meet The Palms Tanning Resort franchise requirements.
Company Overview
About The Palms Tanning Resort
| Industry | Personal-Care Businesses |
|---|---|
| Related Categories | Tanning, Miscellaneous Personal-Care Businesses, Salon & Spa Services |
| Founded | 2003 |
| Leadership | Keith Rodenberger, Owner |
| Corporate Address |
8577 E. Arapahoe Rd., #A Greenwood Village, CO 80112 |
| Social | Facebook, Twitter |
Business Overview
| Franchising Since | 2003 (21 years) |
|---|---|
| # of employees at HQ | 2 |
| Where seeking |
This company is offering new franchises in the following US states: Colorado |
| # of Units | 4 (as of 2021) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a The Palms Tanning Resort franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$35,000 |
|---|---|
|
Initial Investment
|
$489,750 - $517,000 |
|
Net Worth Requirement
|
$500,000 |
|
Cash Requirement
|
$100,000 |
|
Royalty Fee
|
6% |
|
Ad Royalty Fee
|
2% |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| Third Party Financing | The Palms Tanning Resort has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll |
|---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 40 hours |
|---|---|
| Ongoing Support |
Newsletter
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
|
| Marketing Support |
Co-op Advertising
Ad Templates
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | Yes |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
No |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 3-5 |
|
Are exclusive territories available?
|
Yes |
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