|04-28-2014, 09:45 AM||#11 (permalink)|
Join Date: Apr 21 2004
Location: Frisco, TX
Rep Power: 13
Re: Purchasing an existing salon...
The evaluation process of a salon is important because a very large portion of salons that are for sale should not be considered as a good investment.
Not only must you determine if the salon is capable of being a successful salon, but will it allow you to be successful well into the future.
It is unusual to find a salon that does not need a substantial amount of changes that may include equipment, paint and flooring, AC and electrical along with a complete business model upgrade. This is why it is important to determine not only purchase value in it,s current condition as well as the cost associated with the needed upgrades. This becomes the total amount of the investment. Without the changes and upgrades you only become the new owner of a failing salon.
Buying an existing salon can be a good investment when it is done correctly.
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