 Re: going to buy a distressed salon
Quote: Originally Posted by movieking  What happens in 3 years? Did you negotiate renewal options? At what point do you own the equipment and other assets? Can you sell any of the assets in order to upgrade and if you can does he own the new equipment or have you negotiated a value for the individual assets that you would pay him if you sell anything?
If you succeed in building this business you need to know that he can't simply take it back in 3 years! | Essentially he's getting the business for free with the lease. The business was for sale and this is where they've ending up with negotiations after he learned the salon wasn't worth what the LL was asking. __________________ ************************************************** ***************** Grammar Tip of the Year - Apostrophes are for condensing and belonging...NOT pluralizing.  SandiGirl ~ Changing tanning forums one apostrophe at a time.  |