Lucrative Business
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 16% |
| Lender Rate: | 10% | Borrower: | standaman59 |
| Finished | State: | NY | |
| Funded: | 100% | Group: | NuBeginnings |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-01-23 | EricsCC ROI: | -55% |
| Status History | |
|---|---|
| Jan 24, 2007 | Current |
| Feb 08, 2008 | Late |
| Feb 24, 2008 | 1 month late |
| Mar 24, 2008 | 2 months late |
| Apr 24, 2008 | 3 months late |
| May 24, 2008 | 4+ months late |
| Jun 18, 2008 | 3 months late |
| Jun 28, 2008 | 4+ months late |
|
Principal: Stan [LAST NAME DELETED] I am looking for $25,000 to help me get started in a very lucrative business. I currently have $35,000 to put towards this project and am looking for additional funding to ensure that I have working capital reserve to ensure enough time to reach the businesses extremely lucrative profit potential. This is a very unique opportunity, to come into a business with significant profit potential with no money down, no build out or upfront equipment costs needed. Business Overview:- Tanning Salon - Facility is already fully equipped and professionally built out, (sign the lease and doors opened for business). - My projections are that with 6 tanning beds, retail sales of accessories and body toning services, I can generate over $25,000 net revenue per month at full capacity (6 days a week approx 10-12 hours a day). - Carrying charges (rent, utilities, insurance, salaries, marketing, maintenance, supplies, water, debt service) are about $7,000 - $10,000 per month. The monthly expenses increase due to the need for additional support staff which will be hired on an as needed basis in proportion to the growth of the customer base. Salary expense is offset by a much larger increase in revenue due to the same growth of the customer base. - Located in a brand new (2year old) strip mall, which has Walmart and Lowes superstores as well as a nail salon, Laundromat, various restaurants, etc, in a very populated, busy shopping district. - Located in a growing town/county (further evidenced by the superstore presence) with the perfect demographic for this business. - There is no direct competition in the vicinity. - Advertising campaigsn will include flyers, mailings, print media, word of mouth and radio commercials. Management Team Overview: - Management team is myself and my Operations Manager - I have a BS Degree in Accounting; a strong management background from 25 year career as a Vice President with a Wall Street NY Investment bank; - My strengths are in people skills (successfully managed teams of 20+ people), project management and planning; accounting, finance, operations and technology. - My Experian credit score is 760. I have an immaculate credit history. - The Operations manager will run the day to day operations and has over 3 years experience in tanning salon operations as well as other business, marketing and operations experience. Based on my background, drive and past professional achievements, I believe I am extremely qualified to be very successful in this venture and look forward to receive the needed financing from Prosper. |
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