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Hi I am looking to Open up a Cosmetology School, The People that I thought was going to invest in me Backed out. So I have to take another way, I really want to open up this school. What would be the best way to go for making this happen for me.
Davis,
What have you accomplish so far? Do you have a site picked out? If so, you may want to get with an owner of another school on the opposite side of town, and tell him or her your plans. Depends on how much you are investing yourself, you could go into it as a partnership. This way, you have a mentor and someone who knows about the business too.
Depending on the type of school, around here the higher end ones are Douglas J schools by Aveda. Now going this route, you might want to check with Aveda or even your state for funding. I now Aveda can help provide some funding for salons, not sure about schools, though. I would also suggest you talk with some salons, maybe they would want in on a school.
Well when we started building our salon, we had to sign the lease BEFORE we signed on the loan. Well the decision kind of screwed us, because the bank at the last minute decided our business was a bit risky and reduced the amount they promised us by 20K. We were heart broken and thought all was lost. Ah, but that simply wasnt true, it became our challenge, and we`ve suceeded without it so far. Think of this as a challenge, a test, a right of passage, it helped us through some really tough weeks thinking this way.
Have you tried the Small Business Administration or your local economic development board?
Thank You that is a really good Idea, I have the support that I need on that part I did not ask them to partner with me but I will look into how that will work I know that I will need to try a SBA loan as well so I am going to look into that
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