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12-04-2010, 09:30 PM | #1 (permalink) |
Join Date: Dec 3 2010 Location: maine
Posts: 16
Rep Power: 0 | MY story Last year i bought a salon really cheap ...I made all the mistakes That Ive seem don't do but the price was really good ....so I updated it and really made it nice if I id say so myself....well an opportunity came up to by almost my EXACT salon for about what I paid for my original salon but it was already updated now ive got 2 salon and am over whelmed I bought the 2nd one to go with the 1st but the location is bad and had already been updated. The old one seems to be coming into its own And i had figured out on my own the only way to make money is to work here but as a guy who's used to driving trucks and doing HVAC now i originally had my wife doing the salon while I worked another job but I sold that company to focus on the salons,then my wife decided she didn't want to work anymore an go bak to school SO do I sell the new store to get my backup funds and then stick with the one that been growing for 1.25 years or try to have both me and my wife work as many hours possible |
12-05-2010, 06:47 AM | #3 (permalink) |
Team TanTalk Join Date: Jul 13 2004 Location: Menomonie, Wi. Age: 82
Posts: 3,145
Rep Power: 22 | Re: MY story Evidently you like this business. If you are making it, with the one salon, sell the other salon, and enhance the potential of your first salon. One is much more manageable. I've had other businesses, and thought that bigger was better. Whenever I expanded, and bought another store, it never worked. I tried this with video stores and laundramats and I'm glad I never tried it with tanning salons. You learn by your mistakes and I did. |
12-05-2010, 09:26 AM | #4 (permalink) |
Join Date: Sep 17 2005 Location: Southeast
Posts: 374
Rep Power: 19 | Re: MY story Tough one there. I think it takes about 2-3 years for a salon to come into it's own. That's if it is new. If you bought existing, who knows what things were going on there before you bought them. We have kind of done the same, built the first one, bought the next 2 and revamped them, moved into an empty space on another (that was a salon before), and built the last one from the ground up. Our first one we built showed YOY growth for the first 4 years, and now it is flat, which was expected. |
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