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    5 Replies Latest reply on Oct 9, 2008 8:59 PM by shyviolet

    In Need Of Start Up For Salon

    shyviolet Newbie
      My partner and I are in need of investors for start up of a salon. We would be leasing the location and have started negotiations for TI for the space and a reduction in the asking price monthly of the rent, and the owner is motivated to lease, however, the interior needs completely gutted, it was formerly a coffee shop so basically needs a total overhaul. We need $175,000 to get established and operate, and traditional loans aren't going to work for us as we have no collateral. I can say we have been fortunate as we have a lot of friends that are willing to pitch in for website design, marketing, print and media advertising and of course, extra muscle for the not so glamorous work of painting and scrubbing.

      We will be working owners and have been in the industry for over 14 years, and know that the concept we have for the salon will go over really well, we are in a large city and in the area we have selected, there is no competition and extremely heavy traffic. The space is located on a highly visible corner and has very accessible parking, easy to get to by foot and public transport (bus stop directly outside door, train half a block away.) The area is heavily populated by restaurants and pubs, and has over 400,000 people residing in the area, numbers double during the day due to business.

      Any advice or anyone that can point us to angels would be greatly appreciated, as we are very motivated to make this dream a reality!
        • Re: In Need Of Start Up For Salon
          LUCKIEST Guide
          In Need Of Start Up For Salon

          You basically asked the same question last month and received some good answers.

          What has changed or is new??
            • Re: In Need Of Start Up For Salon
              shyviolet Newbie
              Hi Luckiest - yes, we posed questions as to where to begin, but at that time the questions were meant to be directed toward what would be needed and expected from our business plan, and we received excellent advice on that aspect and also got a SCORE mentor, we didn't receive any answers to the questions on whom to approach for alternative financing, and we felt it was possibly because we posted a two part question and needed to ask the finance questions in the correct forum to find "non-traditional" financing options. Thank you for directing us to SCORE, quite a wonderful organization! As for changes, the potential landlord is willing to come down in price on the rent terms and there is a possibility of TI money, but due to the current state of financial affairs they would like to strike a deal sooner than later, so we are moving along to get the actual financing started and wanted to see who had financing for this situation. Thank you for help!
            • Re: In Need Of Start Up For Salon
              Fortis Wayfarer
              Hello shyviolet,

              Hope all is well. We help startups with buildout and equipment all the time. Can you email me a business plan? Where are you located?

              Thanks

              Collin
              Fortis Capital
              cobringer@gofortis.com