advice on starting out

devils daughter · 10-13-2005, 09:25 PM

I'm just in the process of finding everything out about the tanning business. I could really use some advice on how to go about locating a building, and what my financing options would be w/poor credit:o( I play the lotto once a week, but that has yet to help me fund my business!

Neon Beach · 10-13-2005, 09:34 PM

Boy! If you only knew how crappy this past season was for most salons? Did you know there is a season? It's a tuff game as of late, do lots of reading on this site and ask us again? Good luck.

Sarge · 10-14-2005, 08:11 AM

Location is a big part of starting out. But with poor credit, you are really up for a challenge. Most leasing company's with a new start-up business will rape you on interest and really it wouldn't be worth starting a salon unless you can finance at a low interest rate. Check with your local bank and see if you can qualify for a 100K plus loan and then start doing research from there. A good buisness plan is a must and you will need it for your loan.

donna30518 · 10-14-2005, 12:14 PM

I say anyone getting in this business now adays is crazy. I am two and a half years into it and I am closing the doors tomorrow for the last time. I wish i would have known about these boards before hand it would have saved me alot of money and aggravation. Well if you decide to make the plunge I wish you alot of luck.

West Side Tanner · 10-14-2005, 01:54 PM

Sorry to hear this Donna!

missyhot · 10-14-2005, 02:02 PM

Getting into business with good credit is a challege! If you have questionable or even bad credit, I can't see getting very far at all! Sorry for the negativity but that is the reality. Good luck!

devils daughter · 10-14-2005, 10:23 PM

Thanks for the advice... One of my friends has good credit and we're going to partner up.

Neon Beach · 10-14-2005, 10:25 PM

Oooh, another problem area. Friend and partner usaully end up being enemy and enemy. Good luck though.

BigLeo · 10-18-2005, 01:24 AM

Donna, I wish you a lot of luck in your new endeavor. Sometimes you have to learn from the school of hard knocks. The tanning salon industry is not a good industry right now for newbies. There is simply no room for error and I could think of other businesses that have less risk and a better ROI. Sorry about the way it ended for you. Good luck to you.

MJ · 10-18-2005, 02:07 AM

If you jump in this muddy drying out pond right now....that will be the is most expensive lotto ticket you will ever purchase. JMHO. Listen to Leo...he is correct sometimes lol

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10-13-2005, 09:34 PM	#2 (permalink)
Neon Beach I'm Banned Join Date: Nov 30 2000 Location: Ontario Age: 45 Posts: 52,065 Rep Power: 0	Boy! If you only knew how crappy this past season was for most salons? Did you know there is a season? It's a tuff game as of late, do lots of reading on this site and ask us again? Good luck.

10-14-2005, 12:14 PM	#4 (permalink)
donna30518 Waiting Confirmation Join Date: Sep 21 2003 Posts: 26 Rep Power: 0	I say anyone getting in this business now adays is crazy. I am two and a half years into it and I am closing the doors tomorrow for the last time. I wish i would have known about these boards before hand it would have saved me alot of money and aggravation. Well if you decide to make the plunge I wish you alot of luck.

10-14-2005, 01:54 PM	#5 (permalink)
West Side Tanner Join Date: Dec 27 2003 Location: Florida Posts: 2,548 Rep Power: 5	Sorry to hear this Donna!

10-14-2005, 02:02 PM	#6 (permalink)
missyhot I love Derf!! Join Date: Jun 30 2005 Location: Michigan Posts: 2,595 Rep Power: 102	Getting into business with good credit is a challege! If you have questionable or even bad credit, I can't see getting very far at all! Sorry for the negativity but that is the reality. Good luck!

10-14-2005, 10:23 PM	#7 (permalink)
devils daughter Join Date: Oct 13 2005 Posts: 5 Rep Power: 0	Thanks for the advice... One of my friends has good credit and we're going to partner up.

10-14-2005, 10:25 PM	#8 (permalink)
Neon Beach I'm Banned Join Date: Nov 30 2000 Location: Ontario Age: 45 Posts: 52,065 Rep Power: 0	Oooh, another problem area. Friend and partner usaully end up being enemy and enemy. Good luck though.

10-18-2005, 01:24 AM	#9 (permalink)
BigLeo Join Date: Jan 27 2005 Posts: 242 Rep Power: 4	Donna, I wish you a lot of luck in your new endeavor. Sometimes you have to learn from the school of hard knocks. The tanning salon industry is not a good industry right now for newbies. There is simply no room for error and I could think of other businesses that have less risk and a better ROI. Sorry about the way it ended for you. Good luck to you.

10-18-2005, 02:07 AM	#10 (permalink)
MJ Join Date: Jan 21 2002 Posts: 3,060 Rep Power: 8	If you jump in this muddy drying out pond right now....that will be the is most expensive lotto ticket you will ever purchase. JMHO. Listen to Leo...he is correct sometimes lol

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