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Old 01-26-2005, 12:17 PM   #1 (permalink)
 
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Hello,
I have researched, researched, and then some on the tanning industry and have used tanning beds myself. I would like to open a tanning salon with about 4-5 beds but have a funding problem. I was recently divorced and my credit is trashed for years to come due to having to file bankruptcy for debts we shared together. My family can not help me with getting money together to open one so I am on my own. Any ideas on where I should start for seeking loans for this type of situation?

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[ This Message was edited by: RazzleDazzle on 2005-01-26 12:19 ]
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Old 01-26-2005, 07:02 PM   #2 (permalink)
 
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The mob.
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Old 01-26-2005, 09:55 PM   #3 (permalink)
 
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Sorry to be the bearer of bad news but I dont think you will find anyone or any bank to loan to you. Wait a few years, keep your dream alive and when you get your crap straight go for it. Bad timing my friend!
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Old 01-28-2005, 06:26 PM   #4 (permalink)
 
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ok...I'm editing this post....turns out it wasn't deleted...Razzle just posted the same topic twice!!!!

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Old 01-29-2005, 11:02 AM   #5 (permalink)
 
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It can be a good thing actually, to start from such a point of have not. You'll need to do a couple of things, first create your business plan. Envision specifically why customers will seek you, and how you plan on attracting them. Create in your plan, a rate of return for capitalization and a couple ideas on how that will payout (this will later be modified through negotiations with your financier). Within your business plan, make sure to cover the broader issues of local ecomonics, market segmentation, etc. All set?, are you convienced it will work, you better be because now your task is to convience someone else. Who to start with?, first talk to the landlords/owners of prospective retail locations, then your bank manager(s). Silly you say?, depends on your objectives. Even if you know they'll turn you down (likely) it will do several things for you; establish your intentions, practice your ability to aquire presence, be in an environment for constructive critique, and finally, have someone who might make referrals. There are so many positives to this that you'll want to present to all the landlords/banking reps in your community.

Next on the list, community leaders. Call them, ask for their support in your efforts and ask if they would like a presentation, or if they know of someone who may be interested in your excellent concept. Concentrate not only on your business plan, but on your ability to deliver the presentation, knowing that part of your business plans where to attract and close customers. This is what you are doing now, show them that you are capable. And listen, if you are not, don't let that get in your way, use this process to learn how, ask for constructive critique.

What you want to make sure however, is that your business plan is intact and plausible. If you run around town making presentations on something that has no chance of success, you'll be doomed. Be open to your prospects' input. You never know, you may chance across a much better opportunity through one of your contacts.
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