Project Merian operates a large portfolio of tanning salons, offering a combination of lay-down tanning beds and stand-up solariums.
Each salon boasts the latest tanning equipment from prominent brands, all of which is owned and maintained by the company to ensure reliability and ongoing client safety.
By operating a no-appointment-needed structure, the business enables clients to autonomously book tanning sessions; minutes packages range from 30 minutes to three hours.
The company is offered for sale to enable our clients to focus on other, unrelated business endeavours while facilitating further growth under the impetus of new ownership. Offers invited.
• Also retails tanning products, with these accounting for circa 20% of the company’s overall revenue.
• An app streamlines the client booking experience; further developments are planned to integrate loyalty and referral programmes to enhance client retention.
• Serves 75,000 clients per month across its salons; this is inclusive of repeat visits.
• Continually striving to open new salons; in the process of securing three sites, with a further three-to-five premises currently in negotiation.
• Proficient salon staff have completed rigorous training to ensure best practice and a sought-after client experience.
• Salons situated in prime locations across Kent, Essex and London.
• Ideally placed to establish a franchise network to advance the geographic remit of the brand.
• Scope to become a tanning equipment distributor and utilise the existing infrastructure to offer other light-based services.
| Turnover (£'000) | Adjusted EBITDA (£'000) | |
|---|---|---|
| 2022 (Actual) | 4,628 | 1,014 |
| 2023 (Actual) | 5,025 | 1,488 |
| 2024 (Actual) | 5,445 | 1,616 |
| 2025 (Forecast) | 5,950 | 1,785 |
| 2026 (Forecast) | 6,450 | 1,935 |
• Generated a consolidated YE24 turnover of £5.4m, with an adjusted EBITDA of £1.6m.
• On track to turnover circa £6m in YE25 and attain an adjusted EBITDA of circa £1.8m.
• Forecast to achieve a turnover of £6.5m by YE26, with the adjusted EBITDA expected to increase to circa £2m.
• Average gross profit margin of 69% between YE23 and YE24.
• An asset register worth circa £4m will be included in the sale.
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