getting closer
I think we have finally made a break through with the purchasing of the second location. Lydia has found a friend that has some money to invest, and is willing to finance us the loan. We still have to make the offer so we are still a long way off... but now we have the money to put down, I'm almost positive we can work out the rest. The friend is willing to finance it, because we are going to make Lydia the manager of both salons. We figure that she already has manager experience, and having one good employee that we pay a decent wage verses two college kids, that we have to pay taxes on them separate plus the turn-over rate for college kids that will eventually graduate... it'll be better to do it that way. The guy that is willing to make the loan with Scott and I is a good friend of Lydia, and she has really been the one to go to bat for us on this. She doesn't want to be a partner which is good, and neither does the investor. He is willing to do the loan at an affordable rate for us so we can realistically pay it back. I am so excited, one step closer. We're going to do this, short of someone cashing her out right now we are going to get this business and if someone is able to do that then it wasn't meant to be and we can start looking for a second location somewhere else. No matter what happens I'm okay with it but I am still excited. We are meeting with them Thursday to discuss the terms of the loan.