08-27-2009, 11:09 PM | #1 (permalink) |
Join Date: Aug 27 2009
Posts: 20
Rep Power: 0 | Investment needed Hello all and thank you for taking the time to assist me in the "investment / investor" delima. I have a feeling my dreams are more than a bit out of reach. I have researched the tanning industry. I have researched and completed about every aspect it would take to open a new salon. Everything from the Business plan / meeting w/ my local SBDC office / bed selection / insurance / retail - inventory / liscensing / so on and so forth. I have taken the plan to 2 different local lenders. Both had reasonable terms. Both would be backed by a basic-SBA loan. Neither would do anything unless of course have 1) Money down "not enough in my wallet" & 2) Investor. I have research Venture capolists. Angel investors. Blah Blah Blah. Running in circles. I know and understand that this will take lots of time and effort, but its been nearly 6-months of dead-ends. Any and or all REALISTIC Thoughts / Opinions PLEASE. Thank you again. |
08-27-2009, 11:16 PM | #2 (permalink) |
Guest Join Date: Apr 29 2001 Location: Stewartsville, NJ Age: 55
Posts: 3,121
Rep Power: 0 | Re: nvestment needed If you have no money then do not even consider opening a salon. It takes lots of money to get started and more to keep it going for awhile until things take off, if they ever do. |
08-27-2009, 11:24 PM | #3 (permalink) |
Join Date: Aug 27 2009
Posts: 20
Rep Power: 0 | Re: nvestment needed So, I assume you were left lots of money and then decided to just open one? Or, maybe you were a doctor and just got tired of doing that. That is my question. What is the best way to find an investor for this type of business. Grants are a far-fetched dream, so how do people do it? |
08-27-2009, 11:37 PM | #5 (permalink) |
Join Date: Aug 27 2009
Posts: 20
Rep Power: 0 | Re: Investment needed ok. Looking for more thoughts, other than putting up the house. (not enough equity in this one + young , married and have 2 kids. I would rather take a second job at McDonald's, than them do without) Is there not an investment group, specializing in this industry? Is this industry to volatile for investors? (lots of half / a**'rs that don't have the drive to succeed? I understand the risks and so forth. That is why I have researched / read and taking time with this. |
08-27-2009, 11:41 PM | #6 (permalink) |
Guest Join Date: Apr 29 2001 Location: Stewartsville, NJ Age: 55
Posts: 3,121
Rep Power: 0 | Re: Investment needed It is seasonal, it is not a build it and they will come business. Too many half a$$ers in the biz. Banks and lenders do not take salons seriously and they have gotten seriously burned in the past couple of years and closed their wallets. If you believe in yourself then you need to show the bank that you do and put the house on black. |
08-27-2009, 11:49 PM | #8 (permalink) |
Join Date: Aug 27 2009
Posts: 20
Rep Power: 0 | Re: Investment needed You may be right. (ok probably are) (others please reply to original posting) Oshman: so how would I tell my wife what I am doing? Considering I don't think she would answer if I just "asked"...... |
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