Has anybody ever bought a business before?
Posted by Sonni in: tanning salon businessI want to know where or how i can get money to buy a business. There are two tanning salons for sale @ 150000 each or 275000 for both and i have no idea about getting a loan to buy a business.
You need to come up with a business plan.
First thing I would do is figure out how much money the salons are capable of producing.
Take the number of beds multiply by the amount charged per use and the number of hours open to give you a (high) estimate of potential.
Now subtract the going wage (plus associated taxes) from that money to see what you might have left.
I looked into tanning salons a few years back and there was no way to pay the former owner and turn a profit. The only way you could turn a profit would be to start from scratch and buy your own beds and secure your own location.
But the money would be very tight, and in America, the insurance is really expensive as the insurace companies are afraid of future lawsuits as your customers develop skin cancer.
Here is a horrific fact!
Most businesses fail!(even tanning salons!)
Why?
The majority of new entrepeneurs don't really understand the business they jump into. And when they scramble after realizing they've overspent, or underestimated the industry, it's simply too late!
Unfortunately, many new owners simply don't where to find this insider knowledge and won't succeed in today's tanning business environment.
Too many hard working entrepeneurs are losing their money, and their dreams, due to a lack of this specific information.
If you are thinking about starting a tanning salon, or struggling to make your current salon profitable, please read the rest of this website
Click Here To Read About Many Tanning Salon Mis-Adventures
Tanning Salon Gold
Hi..
Most people who want to buy a business should be forced
to learn how to conduct a business first…for their own
mental health.
Reason: it’s risky, no holidays
One day these tanning salons may have to answer questions
in court for making people into wrinkled prunes.
There are so many things to consider when buying a business.
Less risks and costs starting an online business.
Start slow and learn as you go…no loan!
If it dosesn’t take off learn why.
Pending hundred’s of thousands is really silly
when you could educate yourself and get an immediate
return.
Job first..education second..buy biz last.
Biz failure stats very high..wonder why?
References :
Invest in yourself:
http://www.tutorhelp.com.au/bigseminar.html
You need to come up with a business plan.
First thing I would do is figure out how much money the salons are capable of producing.
Take the number of beds multiply by the amount charged per use and the number of hours open to give you a (high) estimate of potential.
Now subtract the going wage (plus associated taxes) from that money to see what you might have left.
I looked into tanning salons a few years back and there was no way to pay the former owner and turn a profit. The only way you could turn a profit would be to start from scratch and buy your own beds and secure your own location.
But the money would be very tight, and in America, the insurance is really expensive as the insurace companies are afraid of future lawsuits as your customers develop skin cancer.
References :
15 Steps to purchasing a small business. Educate yourself at this website:
http://www.ehow.com/how_107771_buy-small...
with links to a lot of other educational material, tips etc.
Good luck with the purchase.
References :