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Old 12-17-2003, 05:03 PM   #1 (permalink)
 
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Does anybody have any experience closing a salon down for business? Specifically, I have over $23K in outstanding membership obligations. It is looking more and more likely that my only option is going to be to close. I cannot refund $23K (otherwise I wouldn't be closing). I've talked to a few area salons about buying my client list with the condition that they honor existing memberships. What pitfalls should I watch out for? How much is a client list worth? Thanks in advance for your feedback...
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Old 12-17-2003, 05:15 PM   #2 (permalink)
 
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I worked for a salon that changed ownership about 8 yrs. ago. When they changed over the new owner did not honor existing memberships. Since you are closing I would see if another or maybe 2 or 3 salons would buy them.

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Old 12-17-2003, 07:05 PM   #3 (permalink)
 
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At one time I had 2 salons and when I sold out the last one, the new owner honored the memberships that were in progress, knowing these clients would generate more revenue, anyone who buys you out should know that. I left a few things which in turn helped him out, so he was willing to honor the clients. Now the person he decided to let run the place is another story. I know I read a thread somewhere on this..meaning the value of a client list and honestly it wasnt worth much..so I say do you best to sell the whole ball of wax.
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