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by AllBiz » Thu, 27 Nov 2014 4:21 am
Thanks for the feedback. I've bought 2 beauty salons in the US and sold one of them for a significant profit; the other one is still under my ownership. I have a track record of raising revenues and valuations on these little businesses (even with my current business I have not sold, I can quantitatively show an increase in valuation).
My background can support a case for strong management and business system development, although I'd say my real specialty is in raising revenues. I am an American citizen with a bachelors degree in finance from a state school. I have no experience in finance sector employment however.
If I come to Singapore, the plan is to do the same thing I've been doing in the United States, which is buying salons, improving them, and selling them at a higher multiple of earnings. I have no problem holding them long-term either, if it's better for visa reasons. I would employ myself as a single or multi unit manager.
I see two possible issues:
1) Salons aren't in a tech or other desirable industry (to MOM) based on what I've read. If this is a major issue I could port my skill set into a different kind of small business that is more tech focused (I would have to learn the nuances of a new industry, but marketing skills for any type of B2C service business are essentially the same).
2) Capital investment. I could put down about $50,000-$70,000 right now, more if I wait. Thing is, I'd rather not as that would greatly slow down my ability to grow and expand. One of my early mentors taught me how to pursue motivated sellers in real estate, and I've used the same techniques to find motivated sellers of businesses. That's how I got into the salons; I would find sellers who wanted to get out, negotiate little to nothing paid up front, payment terms over 3 to 5 years, while using my cash to improve marketing and raise revenues.
In an ideal world I would do the same thing for the acquisitions in Singapore (motivated seller, negotiated payment terms for full price or close to it) and keep all my cash for marketing. If this is unrealistic though, I will put down money.