Home: Message List - Need Financing for 2 tanning salon franchises

Re: Need Financing for 2 tanning salon franchises

Fortis — Sat, 06 Sep 2008 15:33:51 GMT

MrBubbs,

Good afternoon, hope all is well. Somehow this post got shot to the top. I was curious if you ever found your solution?

Also where did you go to talk with someone about an SBA? I\'m not sure why the franchise would have anything to do with it.

Re: Need Financing for 2 tanning salon franchises

dtominus — Tue, 10 Jun 2008 03:52:47 GMT

Its A flat rate so if you borrowed $100,000 you would pay $ 135,000 , but remember its unsecured
no personel colaterial , and about 25% percent is taking every day from the futuer credit card swipes ,
and it shows up as a fee on your batch statement making it 100% tax deductable , you will not get that
with a bank loan , you only right off the intrest not the hole loan! contact me our company has a prograhm
for franchises .....

David Tominus

Re: Need Financing for 2 tanning salon franchises

MrBubbs — Tue, 10 Jun 2008 03:37:56 GMT

dtominus - If the salons did $33k/mo in CC sales hypothetically, you'd be able to advance $100k or so? Could a deal be structured that allows that money to be used as a down payment on a $500k purchase price with another lender (bank?) carrying the other 80%? What percentage of monthly cc sales is used to pay back the loan?

Re: Need Financing for 2 tanning salon franchises

dtominus — Tue, 10 Jun 2008 02:59:49 GMT

I can Provide a cash advance to help purchase the salons , from $2500 to $500,000
please tell me what the to salons are doing a month in credit card transactions and cash
this would be 100% unsecured and best of all it would be tax deductable , there is no interest
rate, its a flat rate, we purchase a portion of your credit card swipes, and will give you up to 3 x
the monthly credit card average , call for details , I will do all I can to make your dreams of
ownership come true

David Tominus
727-545-9530
www.cashprior.com
dtominus@yahoo.com

Re: Need Financing for 2 tanning salon franchises

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Need Financing for 2 tanning salon franchises

MrBubbs — Mon, 09 Jun 2008 23:46:18 GMT

My wife and I are interested in purchasing 2 tanning salon franchises and are in the beginning stages of the purchasing process. We'd like some feedback on our available options. The purchase price is approx $500k for both with a net owner benefit of $160k. We are both currently employed with a total income of $125k but one of us would be quitting shortly after the purchase to run the business. We have no significant cash for a down payment at all so we understand we most likely would not get the most favorable terms.

I checked out the SBA and this particular franchise is not on the approved list.

Any advice or contacts is greatly appreciated.