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Showing posts from April, 2022

How to start a Barbershop or Salon

by Joshua Botello Starting your barbershop or salon seems like an easy proposition, especially if you've been in the industry for a few years. The barber and beauty industry is fairly regulated here in California and there are a bunch of hoops that you'll have to jump through to make your dream happen. In this guide, I'll give you a 5 step guide on how to start your barbershop or beauty salon. So let’s go... Business Concept The first thing you're going to need to figure out is what kind of services you're going to offer. Are you going to be offering straight haircuts or are there other services such as shaving or color that customers are going to want? You also have to determine whether or not you're going to be selling products such as hair care products or beard care in your location. When it comes to customers you'll have to decide if you're going to serve strictly men or women or a mix of both. Each type of customer will have their own set of nee...

9 Major Differences between 7a and 504 Loans

By Joshua Botello Getting a small business loan is an integral part of many small businesses to start up or grow. The most common SBA loans offered for small businesses are 7a and 504 loans. The terms of loans may seem confusing and small business owners may not understand which one they need or qualify for. In this article, we will break down the major differences between the two loan programs and which might be right for your small business. Difference #1: Eligible Business size Each type of SBA loan has business size requirements that may impact your eligibility. Eligibility for 7a loans is determined mainly by industry. For example retail, service or agriculture businesses' sales must not exceed the range of $750,000 - $33.5 million. For 504 loans a business’ net worth cannot exceed $15 million. Meanwhile, the average net profit (after taxes) over 2 consecutive years cannot exceed $5 million. Difference #2: Program Requirements The program requirements for a 7a and 504 loans ...