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Originally Posted by TangerineTan  Thats what this one is at , net almost 20k but thats with no employes and gross 65k . |
See something sounds odd there then. How could the net be 20k with no employees? Someone had to run it, if it was the owner then is the 20k what s/he paid themself? Like I was told, you are buying a salon not a job. why pay 20-30k to make 20k plus all the risk of being an owner plus upgrading at some point. Net should be after payroll to cover all the hours it is open. So they had sales of 65k then paid all their expenses, then paid all their payroll, and had a net profit of 20k?
In my case, the net was after all payroll. I bought mine thinking I should be able to increase net to 25k with minor changes. It's location was a main drawing point and it has a built in growth potential as they are building more dorms for a university 1 block away. I also bought it knowing it will never be a main source of income or make me rich, but a profitable side business my wife will run that also gives her flexability to be home with our kids if something comes up.