 Re: going to buy a distressed salon
Look, a typical salon needs alot of AC and electric. If it will be a successful salon, there is NO way he will include electric in the rent. How can you know what your portion is? It needs to be on a separate meter.
This is just odd. I dont care how little money he sells it for, I would be scared of it. I really would be nervous dumping money into a place that doesnt have separate utilites and has a P&L like that one. The whole thing doesnt make sense.
But, since you feel like this is such a great place, how about some more homework?
What are the demographics of the area? Up to a 5 mi radius?
What are the other stores in the location? In the area?
How close is the competition? What equip do they have? Prices? How long have they been there?
What is your budget? How much money do you have? Do you have enough money to pay your personal bills and the salon bills for at least 6 mos if not a dime comes in?
Do you have a full time job?
Are you going to work the salon full time?
This is just a start of things to think about. __________________  |