Image Sun Tanning Salon franchise opportunity: Are you familiar with it?
If so, please share your experience, opinions or insights with a comment below.
If you are an Image Sun franchise representative or employee, please help us understand why the Image Sun franchise owners have one of the highest loan default rates in the industry.
The Image Sun franchise website states:
“The Image Sun tanning franchise network offers qualified candidates an outstanding business opportunity. It’s a business that effectively answers the demands of a fast growing market niche. A business that incorporates sales and service techniques tested and refined for both customer and franchisee satisfaction.”
However, according to the Small Business Administration, 70% of Image Sun franchise owners are unable to repay their SBA loans.
Image Sun franchise owners have an alarming 70% SBA default rate.
Despite the closing of Image Sun salons and the high loan default rate, the Image Sun franchise opportunity website states:
The Image Sun tanning franchise network offers qualified candidates an outstanding business opportunity. It’s a business that effectively answers the demands of a fast growing market niche. A business that incorporates sales and service techniques tested and refined for both customer and franchisee satisfaction.
Superior Brand Leadership
Led by our founder and President, Anthony Bonanni; Image Sun is a business supported by a dedicated franchise organization to dramatically simplify start-up and enhance your growth potential well into the future.
Comprehensive Salon Development
Image Sun Tanning Centers’ extensive experience and expertise offers you a much greater potential of success. Our salon development services include:
- Competitive financing through third party advisers.
- Location guidance through third party site selection professional.
- Highly competitive lease rates with comprehensive lease negotiators.
- Well orchestrated construction with experienced professional supervisors.
- The industry’s most efficient and attractive salon interior designs.
- Thousands of dollars in SAVINGS due to National Account product discounts.
- Impressive agency quality advertising and media design.
- Operational and sales systems that really work!
- Effective on-going Image Sun personalized salon support.
- Preventing costly mistakes, saving you money… and much more!
Tanning salon franchises as a group demonstrated alarmingly high SBA franchise loan default rates on the 2012 list, including the Planet Beach franchise (57%), Image Sun franchise (70%), Executive Tans franchise (81% ) and Hollywood Tans franchise (37%).
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Tags: Image Sun, Image Sun franchise, tanning franchise, salon franchise, Hollywood Tans franchise, Executive Tans franchise, franchise failure rates, SBA franchise loans