Looking for advice

karna68 · 06-14-2004, 03:18 PM

I have a chance to buy an established salon, no money down and only have to make payments during peak season. I am worried going into off season, will I be able to make expenses and have a paycheck for myself? Any input is appreciated.

COCONUT · 06-14-2004, 03:23 PM

a paycheck... whats that?

karna68 · 06-14-2004, 03:24 PM

Am I being unrealistic?

COCONUT · 06-14-2004, 03:42 PM

don't go into this looking for money because sometimes there is money........sometimes your shaking your piggy bank...think long and hard!! This salon is not my bread and butter.. we have only been open for 1yr 3months .I could not support my 4 children with just the salon.. my husband has a full time job in law enforcement, his paychecks get us through the low season..plus during the busy time you put money aside..but as far as paychecks goes....unless ONLY YOU work 24/7...i guess then you can get one!!Good Luck

_________________
perception is ones reality!![ This Message was edited by: coconut on 2004-06-14 14:44 ]

karna68 · 06-14-2004, 03:52 PM

Well like I said, it's an established salon, part of a chain of 7 salons, we would be keeping the name of that chain until it was paid for. My husband has a job and we're just a family of 3 so I'm hoping it will work. We haven't made a decision yet. Thanks for your input!

COCONUT · 06-15-2004, 11:48 AM

Well Good Luck to you

sunkissedtan · 06-15-2004, 03:23 PM

Unless you are not going to have to rely on the money from the salon, think about it real hard. I have been in biz for just over 2 yrs. now and I am breaking even. In the good times, it's good, real good - but the slow times. . it's bad, real bad. But, you did say in the slow season you would not be required to make any payments. I would like that "set up", it would be something to think about. Good Luck it's a fun business to be in.

COCONUT · 06-15-2004, 04:38 PM

i wish the bank would do that set up for me....LOL.

engfant · 06-15-2004, 05:11 PM

You only have to make payments to whom durring the peak season? The landlord? The electric company? Sounds strange.

tanu01 · 06-15-2004, 05:52 PM

Sounds to me like the former owner would still be sticking there noses in til its paid for. NOT GOOD.
Flick

06-14-2004, 03:18 PM	#1 (permalink)
karna68 Join Date: Mar 5 2003 Posts: 22 Rep Power: 0	I have a chance to buy an established salon, no money down and only have to make payments during peak season. I am worried going into off season, will I be able to make expenses and have a paycheck for myself? Any input is appreciated.

06-14-2004, 03:23 PM	#2 (permalink)
COCONUT ~THE ORIGINAL COCO~ Join Date: Sep 2 2003 Location: NJ Posts: 6,224 Rep Power: 18	a paycheck... whats that?

06-14-2004, 03:24 PM	#3 (permalink)
karna68 Join Date: Mar 5 2003 Posts: 22 Rep Power: 0	Am I being unrealistic?

06-14-2004, 03:42 PM	#4 (permalink)
COCONUT ~THE ORIGINAL COCO~ Join Date: Sep 2 2003 Location: NJ Posts: 6,224 Rep Power: 18	don't go into this looking for money because sometimes there is money........sometimes your shaking your piggy bank...think long and hard!! This salon is not my bread and butter.. we have only been open for 1yr 3months .I could not support my 4 children with just the salon.. my husband has a full time job in law enforcement, his paychecks get us through the low season..plus during the busy time you put money aside..but as far as paychecks goes....unless ONLY YOU work 24/7...i guess then you can get one!!Good Luck _________________ perception is ones reality!![ This Message was edited by: coconut on 2004-06-14 14:44 ]

06-14-2004, 03:52 PM	#5 (permalink)
karna68 Join Date: Mar 5 2003 Posts: 22 Rep Power: 0	Well like I said, it's an established salon, part of a chain of 7 salons, we would be keeping the name of that chain until it was paid for. My husband has a job and we're just a family of 3 so I'm hoping it will work. We haven't made a decision yet. Thanks for your input!

06-15-2004, 11:48 AM	#6 (permalink)
COCONUT ~THE ORIGINAL COCO~ Join Date: Sep 2 2003 Location: NJ Posts: 6,224 Rep Power: 18	Well Good Luck to you

06-15-2004, 03:23 PM	#7 (permalink)
sunkissedtan Join Date: Jul 9 2003 Location: Funky Town Posts: 643 Rep Power: 7	Unless you are not going to have to rely on the money from the salon, think about it real hard. I have been in biz for just over 2 yrs. now and I am breaking even. In the good times, it's good, real good - but the slow times. . it's bad, real bad. But, you did say in the slow season you would not be required to make any payments. I would like that "set up", it would be something to think about. Good Luck it's a fun business to be in.

06-15-2004, 04:38 PM	#8 (permalink)
COCONUT ~THE ORIGINAL COCO~ Join Date: Sep 2 2003 Location: NJ Posts: 6,224 Rep Power: 18	i wish the bank would do that set up for me....LOL.

06-15-2004, 05:11 PM	#9 (permalink)
engfant FREE ENGFANTUCATION Join Date: May 20 2003 Posts: 9,436 Rep Power: 13	You only have to make payments to whom durring the peak season? The landlord? The electric company? Sounds strange.

06-15-2004, 05:52 PM	#10 (permalink)
tanu01 "The Man" Join Date: Mar 4 2003 Location: ohio Posts: 3,977 Rep Power: 7	Sounds to me like the former owner would still be sticking there noses in til its paid for. NOT GOOD. Flick

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