I am going to purchase this nail salon - With no prior industry knowledge - Ride along fellow entrepreneurs - Update #1 entrepreneur how earn by blogging blog

I met with the real estate broker who is orchestrating the sale.

First thoughts as I walked into the salon. It's dead. Monday morning at 10am. I expected this though.

Second thoughts, what can I structurally do to the layout to spice things up.

The broker is saying the seller is motivated to sell. Great. The establishment is currently being run by the absentee owner's "sister", and the sister has no clue how to run a business.

After I spoke with the brokers I returned to talk with the sister on an informal basis. See how she ended up in the business, how the business is doing, common problems, etc.

My gut feeling is that this place may be a front. But at the same time, why would someone want to sell a business via publicly if it is a front?

The seller has 4 other locations, and has been at this specific location for 8 years. They want 30k, however the assets are not worth nearly that.

My solution? I am going to conditionally offer them 10k. Conditions being: 1. Full disclosure of financials 3. Full disclosure of operations info 4. Access to distribution/vendor networks 5. The main manager (sister) stays on for 6 months after sale 7. Anything else that I am missing that someone can chime in?

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