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I just lost my job, want to start a beauty salon, but don't have any cash. I own a home. How much to start it.

can I get a loan for business. How much to start one on your own?

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Answers (4)
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Biz2Credit LLC
New York County, NY

Pit,

You will need around 30- 40 k including rent , capital improvement and equipment. You could also look to buy an existing beauty salon. You will need around 20% of your money and rest can be availed under SBA program.

The best way to search for financing is to enter you information on www.biz2credit.com. If you meet the general criteria of a lender or a bank on the system, you'll be matched with them. If you don't meet any of the lender criteria, the system will educate you as to why you didn't fit the criteria and what you can do to qualify in the future. It's a great system and it's free. Good luck.

Apr 7, 2010
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ANA Brokers

Hello
I have a beauty salon for sale with very good price asking price is $40,000 in Dallas,TX and i can
work to $10,000 owner finansing
call me in the afternoon i can help you
Thanks Susan 972-898-5598

Apr 6, 2010
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The BAF Group LLC
MD

The biggest reason for businesses to fail, is a lack of Cash Reserves. If you do not have any Cash, talk to other friends or family, first. If you walk into a business with nothing, you are virtually doomed.

Apr 6, 2010
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Freedom Business Brokers
Orange County, CA

Pit- Since the information available is inadequate to guide you in right diretion it is imperative that you provide it. For example, do you have some experience in this field, are you a barber or have a cosmetology license,are you in a city where the community needs this kind of service.also where are you
in a metropolitan city or state where the population density is intense or in a rundown suburb.
If you can get the clients easily then you should think that you need a facility with minimum of 500 to 600 sq ft and be ready to invest for necessary equipment like chair, mirror, shampoo bowl, hair dryer chair etc
that may run into 2to 3k depending upon the brand of these equipment..
If you have good equity in your house and you can obtain a loan from the bank then I would suggest you to buy an existing business as this will come with the clients which is hardest part in this venture.
If you don't have any experience in this field don't explore it now as this is not good time because of depressed economy. In this time you should not learn by trial and error method rather should take calculated risks.The existing beauty salon business run from 25k to 125k depending on the location and number of clients they have to serve. If you think of alternative there are retail stores, 99 cents store,
mail Box services,notary service.
Good Luck!!
Sid0653@Hotmail.com

Apr 6, 2010

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