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Once again, I'm in California, and this may not apply in your state, but here adding prepared food would mean you were opening a restaurant, which is a LOT more complicated. If you've never opened a restaurant before, you might want to look into what's involved, at the state level...
That's a really good point. I know here in Colorado, the laws regarding food safety are really strict.
You might want to check with your health department regarding the smoothies.
A few years ago a friend of mine considered buying a tanning salon. The owner provided her with a set of books to look at and she thought the business was doing well. She spent a week with the owner in the salon to get a feel for the day to day flow.
On the 5th day she overheard the owner on the phone telling someone that there was no way he was going to show anyone the real books because they would never buy the business. He told the person that he had created a "better" set of books to provide to potential buyers.
My friend finished out the day and then told the man she did not feel that his business was the right opportunity for her. 5 weeks later the place went out of business.
I don't imagine that this is the right kind of economy for a business that offers something so non-essential. If the previous owner defaulted on the equipment financing doesn't that kind of tell you that the business did not make enough to support itself?
LOL
Every restaurant I've purchased I've taken the books and divided them in half to get a better understanding of what they make.
I also learned to ask for them to supply numbers through an accountant. Most won't cook the books and if they do then you can hold them accountable.
Also ask for a list of suppliers and check if they are up to date on payments. And ask the landlord and neighboring tenants about the business.
With a restaurant it's easy to check on how they are doing for lunch and dinner. Stop in and eat. Spend some time and count the tables and te people they turnover.
Lots of way to checkout a business without depending on the books.
Make sure the lease is to your corporation & not you personally in case you need to walk away.
Doesn't matter. If he's the CEO of the corporation then he's responsible for the rent in the end. Same with insurance, utilities, suppliers, etc. All will make you personally sign in case the business fails.
I have been a licensed cosmetologist for 30 years, and a part of that time I worked as a hairdresser. So I am very familiar with the ladies beauty industry. Having worked and lived in Branson, I have also had lots of face to face with tourists and I have a good background in sales.
I don't understand. In the post below you say you're not a hairdresser and in the above post you say you're a licensed cosmetologist. Am I missing something?
(I had been thinking about buying a beauty salon, but it just so happened that I had to spend some time IN a beauty salon, and there is no way I could deal with that environment. Too many personalities to deal with. Besides, not being a hair dresser myself is a disadvantage when owning a hair salon.)
Well, I will be putting in smoothies! yum yum. I like the idea of weight loss as a complementary service. That is a great idea. Thanks for the suggestion.
20yrsinBranson
You just opened up a new ball of wax. You do know what it takes to sell food?
I don't understand. In the post below you say you're not a hairdresser and in the above post you say you're a licensed cosmetologist. Am I missing something?
(I had been thinking about buying a beauty salon, but it just so happened that I had to spend some time IN a beauty salon, and there is no way I could deal with that environment. Too many personalities to deal with. Besides, not being a hair dresser myself is a disadvantage when owning a hair salon.)
busta
I am a licensed cosmetologist. But I do not do hair for a living. I had an occasion to be in a beauty salon for another purpose other than doing hair.
You just opened up a new ball of wax. You do know what it takes to sell food?
busta
Well, there is no food involved. All of the smoothies come prepackaged and all you do is add ice and blend. But if you are referring to health laws about serving products that are consumed, yes, I do know. Basically, all that is required is a sink to wash hands and a source of water for washing products that gets to a certain temperature. That would not be a problem.
Errrr, not to go tooo far off topic, but that's kind of like saying you wouldn't accept the payments from your health insurance if you got cancer (or some other terrible, expensive disease).
In otherwords, if you've only been with your health plan for a year and paid, lets say, $2400.00 in, and then were diagnosed with cancer, you would turn down the payments after you reached the $2400.00 mark???
If your answer is "yes", well then I suppose I kind of admire your strict moral sense. But most of us probably can't afford to live like that.
Make sure the lease is to your corporation & not you personally in case you need to walk away.
Quote:
Originally Posted by bustaduke
Doesn't matter. If he's the CEO of the corporation then he's responsible for the rent in the end. Same with insurance, utilities, suppliers, etc. All will make you personally sign in case the business fails.
Busta, that might be true for a corporation, but not for a LLC.
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