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need advice

Posted 09-29-2008 at 06:42 PM by porter
i live in a small town in arkansas of about 5000 people, i am thinking about buying an already existing tanning salon, which makes 3 salons total in this town. the salon has 7 beds, 2 beds are brand new a couple are not as old as the others, the salon has been in business for 10 or 11 yrs, the owner is selling to travel with hubby. the salon comes with the building its in, which also has 2 other businesses in it that pay rent to the salon part. here is the catch the cost of the place is $130,000 and i'm just worried that is too much for an area this small, i have no business owning experience and i have yet to see any books or income taxes, but i have interviewed with the current owners and talked to a banker about the loan. can anyone give me any thoughts on the risk involved and if the price sounds right. the building is really large but parking is only about 15 spaces for all 3 businesses. Any advice will help, thank you
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