There's this nail salon by my house that's been for sale for a little while. It looks pretty ragged from the outside, but I have experience in capital projects and infrastructure and realize that a solid rebrand/investing in leasehold improvements can drastically improve a brick and mortar's viability.
I am going to contact the broker to check into their financials. The location is kind of weird. It's in the downtown area of a city with a population base of 400,000. 30,000 business professionals work in the area, up and coming gentrification occurring.
I have absolutely no background in brick and mortar, or nail salons. With that being said, there's a "wax bar" down the street that looks fresh and they've recently expanded to their second location.
They want 30k for the business, which isn't much. Add another 20k in leasehold improvements and this could be a viable little side business. Plus it may be a great opportunity to diversify my portfolio and take on a challenge that is outside of my comfort zone.
Anyone in the nail/beauty business that can chip in on this one?
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