Jan Anderson and Leigh Wilson have established a partnership under the name JANLEE STYLES to start a hairdressing salon in the Arton suburb. A good location has become available direct competition is minimal and the area growth prospect are attractive. The partners have qualifications as hairdresser and several years experience at a well know city salon. They wish to establish their won enterprise develop the business and progress to ownership of at least one additional shop so that each can have a management responsibility in a group operation.
Sufficient funds have been saved to deal with most of the startup requirement which include fittings and fixtures, equipment and consumables inventory. View Full Article »
As indicated a $40,000 bank loan is needed for repayment over a five year period and the financial forecast indicates a $1,000 monthly transfer to the bank for loan repayment. Security for the loan is available by second mortgage on the Rossi home which has been valued at $125,000 and has $25,000 balance remaining on the first mortgage. According to the projections the loan can be repaid without difficulty.
It is intended that the FOODAWAY business will be operated for five years. The objective is to build the business successfully and resell while a three year lease period remains for a buyer. It is estimated that the resale price in five years will be exceed the present purchase figure and provide a reasonable return on the initial investment as well as paying off the bank loan View Full Article »
FOODAWAY will be operated as a sole proprietorship under the name of peter R. Rossi; Elinda Rossi will participate fully in the business. It is a family enterprise with all contributing in some manner. The name FOODAWAY has been registered.
Both Peter and Elinda Rossi are children of immigrants (Italian and Spanish respectively) and are acquainted with the fast food industry. Shortly after emigration, the Rossi family started a convenience store including fast food service; the business is still active and profitable in its area. Peter Rossi was involved with the family business as a youth and was active in it until leaving to take a job will the state Roads Department as a maintenance worker, advancing to driver with 15 years service in that position.
Mrs. Rossi was employed in retail department store sales prior to marriage and commencing a family. She has worked part time during the past four years to help save for the business purchase. The Rossi children 13 and 15 years of age will assist with the shop services.
The peak service periods, work week midday will require casual labor assistance. Staff will be available for the need as well as providing absence time for the Rossi family when appropriate. It is understood and accepted that the business is a day 7 activity.
Starting the FOODAWAY business has been planned for sometime. The important location factor and the need for sufficient purchase price finance have been agreed family priorities for several years. Peter Rossi’s experience in the fast food industry and the family wish to establish an independent business, contributed to the decision to prepare for the step when possible. The vendor’s decision to sell the shop that will be obtained by the Rossi’s is a result of personal events, not the value or prospects of the shop.
