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Old 3rd May 2008, 06:15 PM   #16 (permalink)
hiii98
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Join Date: May 2008
Location: At a salon near you.
Posts: 181
Default Re: going to buy a distressed salon

Quote:
Originally Posted by The Oasis View Post
HI - I am a newbie also. Opening my own salon soon. But, I am also an accountant. A profit/loss statement is ok - but you will definitely want to see their balance sheet. You notice that the profit/loss doesn't have any of their liabilities listed?!! They could have major outstanding loans, or other stuff laying in the weeds that they aren't showing you.

What is their asking price, what kind of equipment is included?
they claim they have no outstanding commitments or loans.

They are asking 35,000 includes 8 beds 3 standup and a rent around 650 a month. Also i plan to work full time there.
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