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Old 06-10-2011, 06:56 PM   #7 (permalink)
Black Sun
 
Join Date: Nov 19 2010
Location: GA
Posts: 933
Rep Power: 9 Black Sun is on a distinguished road
Re: Buying a Salon...good or bad idea?

I have been a Business Broker for many years..almost 99% of sellers sell for reasons other than they are telling you.

Not to say he does not 'buy and flip', but I doubt seriously he does this..flipping works in real estate (buy distressed properties and 'flip them'). It is very rare that it is done with a business. The profit margins and re-couping of investment is just not there..especially after only a year. There is nothing in the business that appreciates that quickly to be profitable, espcially with a tanning salon.

have him prove to you his success with the other 'flipped businesses'.. tell him to supply you with a list..go research the truth..

Also, was that 60k his take/profit or what the salon made in sales before all expenses?

I doubt very seriously if it was profit..
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