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WHAT A SALON IS WORTH

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How do you figure out how much a salon is worth? Im looking to buy an existing salon but i think the price is way too much.

PRO
huge parking lot
new gym in same parking lot
rent is good
only salon in area
been there 20 +
clean

CON
20+ year old equipment
no computer system
Decor is terrible
all beds need to be replaced
sales are slumping BADLY

I know i can make that place profitable but he wants way too much.

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