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| Tanning Biz Newbies Are you a future salon professional and new to the Industry? |
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#12 (permalink) |
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I vote for DERF!
![]() Join Date: Jan 6 2004
Location: Midwest-ish
Posts: 1,559
Rep Power: 5
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Re: WARNING!!!!
Ha! I knew it! Your dealing Coke!
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“There is only so much logical space in our universe,” Binette said. “Think of it like a Chinese take-out box stuffed with Kung-Pao Shrimp. The more shrimp you stuff in, some shrimp pop out the bottom." |
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#14 (permalink) |
![]() Join Date: Jan 27 2005
Posts: 242
Rep Power: 4
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Re: WARNING!!!!
I have warned people about getting into the indoor tanning salon industry. entrepreneurs, even experienced ones, think they can leverage to the help and come into this industry, sprinkle a little of their magic dust, and they will have instant success and positive cash flow. It just does not work that way. This is a 6-to-7 month business, so there is not a lot of room for mistakes. Losing your house over a tanning salon, ouch. Sounds like that newbie put his house up as collateral. These newbies soon got over extended, could not meet those monthly lease payments on their beds, and voila, the bank foreclosed on their house. it is too bad that so many newbies think they can finance everything. In the heydeys, three years ago, money was cheap, and you could borrow against the equity of your home. And we all know about the housing bubble and subprime debacle. I have a feeling that we will be seeing a lot more of this later this year. Bad business decision-making, bad management and over-leveraged tanning salons. bad, bad combination. Sorry to see someone lose their home, but they should've never used their home as collateral or borrowed against it. So unless you have a lot of equity or net worth, and can afford to lose $250 to $300K, don't get into the indoor tanning salon industry.
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#15 (permalink) |
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FREE ENGFANTUCATION
![]() ![]() Join Date: May 20 2003
Posts: 8,246
Rep Power: 11
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Re: WARNING!!!!
Just do a free tan week. I make $40K evey week just cause I don't charge for anything!
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Nothing is more dangerous than stupid. The #1 cause of death is natural causes...but where's the ribbon? |
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