Start up costs for Hair Salon
by kyliesed, Window Shopper
- Created: December 20, 2011, 12:25 am
- Updated: March 24, 2013, 5:42 pm
Hi, I have a few questions. I have been established as a cosmetologist for four years, I work at what is called a commission salon right now, I am ready to move on in my industry and start up my own salon that would be "booth rental" salon. I have found a building that is either for sale, lease, or rent to own. It was also a Hair salon but doesn't have the equipment left in it. I have a low credit score that is that makes me intimidated to even try this. I would love to get a loan and purchase the building, but off my income only I don't think that would be possible. I have talked to the landlord about leasing and I could manage the payments myself and would do even better if I got a couple girls in there to help with the lease. My main question is where do I start? I was thinking a micro loan product would be the way since I really just need the money to buy equipment etc. But, can you even get a loan like that with fair to poor credit? What are usually the stipulations? Do I just talk to a local bank and see if I can get a loan? Do I usually need a lot of cash on hand? Any help would be great. I really would hate to just walk into a bank blindly not knowing anything about sba loans. Any advice would be greatly appreciated thanks!
Comments have been locked for this thread.
- Community Home
- Discussion Boards
- Tell Us...
- Discuss Popular Topics
- Developer Resources
- Social Media