Give us a chance to live our dreams
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 32% |
| Lender Rate: | 18% | Borrower: | 2thetopp |
| Finished | State: | WI | |
| Funded: | 100% | Group: | Cashfunders For Individuals |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-26 | EricsCC ROI: | 16% |
| Status History | |
|---|---|
| Jun 28, 2008 | Current |
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The purpose of this is to buy and expand a salon. Studio E has been around for eleven years in the same location. It has a loyal clientele of $5000 to $6000 a month. The location doesn't allow for any expansion. The current owner will be selling the business to us. We will then relocate to a larger building to allow for the business grow. The salon will be dedicated to consistently providing high customer satisfaction by rendering excellent service, quality products, and furnishing an enjoyable atmosphere at an acceptable price/value relationship. We will also maintain a friendly, fair, and creative work environment, which respects diversity, ideas, and hard work. The business will be so much more then another hair salon. It will provide a high end salon and spa for the downtown business professionals & guests. While at the same time catering to the market that chooses to go for a less expensive experience. Having the different levels of stylists will make it possible for us to attract different markets of people. The location for this business is in a beautiful newly developed area of downtown Wausau. We will offer one master designer, three designer stations, three stylist stations, and one station for assistants, which would provide advanced training for stylists who are new to the industry. One room for two aestheticians, providing the additional services; facials, waxing, and makeup. The aura of this establishment will be urban, positive, inspirational and relaxing. This project will take advantage of a newer, existing structure. Start-up costs will cover a number of details to convert the structure to suit our concept both visually, and functionally. Included in start-up costs are all necessary expenditures to cover the pre-opening hiring and training of our staff, adding and revising equipment needs, inventory and other essentials. The marketing strategy is a simple one: satisfied clients are the best marketing tool. When a client leaves Studio E with a new look, they will be broadcasting their exceptional experience to the public. Three major strategies are planned: 1.Target the stylist level market, to develope a steady walk-in clientele. 2.Inform the community about all of our services. 3.Market ourself as hair color specialists. Initial sales forecast indicate first year revenue of $245,753 increasing to $307,497 by the end of the second year, then $322,871 by the end of the third year. These figures are based on revenue from minimum average estimates from all hair styles and additional services. The business will not have to wait long for clients to learn about it, since the Designers will already have an existing client base. "I am excited to be a Master Designer and to have the opportunity to share my knowledge and love for the industry with other people who feel the same way I do. This is an amazing industry with endless career opportunities, and the chance to make people look and feel better each day."- Crystal Projected Monthly net income: $5200 Monthly expenses: $ 3000 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 344427 | need help expanding a business | B | $15,000 @ 15% | Jun 04, 2008 | Expired |
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