Prime Location Property And Massage Salon Business In Pattaya For Sale

✔ This is a good opportunity to enter hospitality and retail industry in Pattaya. We offer a leasehold property for successful operation of your business in the highly popular district of the city.

✔ The leasehold property is located on Pattaya Second Rd, close to its junction with North Pattaya Rd. The area is highly popular with tourists and locals for its famous shopping, eating-out and entertainment venues. The leasehold shop is close to Terminal 21 shopping mall, Tiffany’s show, China Town. There are many hotels nearby (Grand Centre Point, Holiday Inn, Ibis etc.) whose residents are customers of the shop. Beach Rd is a 6-minute walk from the property.

✔ The prominent location is distinct feature of these premises. The foot traffic of the massage salon operating in these premises before Covid-19 restrictions approximated 200 - 220 customers per day. The salon demonstrated profitable financial performance before COVID restrictions took effect and projects over ฿10.9 million ($360 thousand) of total revenue and approximately ฿1.6 million ($52 thousand) of adjusted EBITDA** for the year ending December 31, 2022.

✅ The business owner offers one of the following options to acquire the business:

1. 100% purchase of business (you will become the only owner of ready massage salon business):
• asking price - ฿4.3 million ($143 thousand).
2. 50% partnership in business (you will become owner of 50% of the business):
• asking price - ฿2.1 million ($70 thousand)
3. Transfer of leasehold rights for the property (you will get opportunity to develop business of your interest in premises provided):
• asking price - ฿3.1 million ($103 thousand).

✅ Assets included:
• Real estate type: Leased
• Lease expiration: January 2030
• Premises description: Premises are located in highly popular district of Pattaya. The property area is 500 sq. m., which is arranged on the first and second floor in a two-storey building. The property was renovated for the purposes of massage salon operations, but could be easily adapted to various businesses.
At the moment the area is designed for Thai massage section, foot care services zone and space for other massage therapy techniques. The current owner has made significant investment in the leasehold improvements to convert it into a relaxing and comfortable place for customers.
• Lease Key Money***: ฿2.0 million ($66 thousand). Key Money (leasing fee paid in advance) was fully settled by the current business owner in 2020 and included in asking price.
• Leasehold improvements: ฿1.2 million ($39 thousand): the salon was renovated in January 2020, the expenditures are included in asking price.
• Security deposit: ฿150 thousand ($5 thousand). The deposit was fully settled in 2020 by the current business owner, included in asking price

✅ Additional assets included in case of 50% or 100% business purchase:
• Furniture, Fixtures & Equipment: ฿1.7 million ($57 thousand): the equipment was purchased in January 2020 and included in asking price
• Inventory: Included in asking price
• Intangible assets: The massage salon certificate is included in asking price.

✅ Business Operation:
• Support & training: The business operating this property is reputable massage services brand, which has been working in Pattaya since 2005. The current owner will stay in Pattaya and is willing to help, train and transition the business to a new owner in proper way.
• Management: The operational manager is permanent employee and experienced in daily salon running.
• Employees: 50 masseuses who are trained and certified as Thai massage therapy services providers and a permanent cleaner.

**EBITDA: earnings before interest, taxes, depreciation, and amortization, adjusted to reflect pro forma add-back of certain onetime discretionary expenses.
***Key money – local term used to describe leasing fees paid in advance to landlords in Thailand, i.e. prepaid rent expenses.

For more information, please contact us by using the form below.