Meeting Notes 5/4/16

Meeting with Mr Yang Cheng
We will send financial dashboard weekly
we had the avocado festival on april 17, team handed out $5 gift certificates to crowds passing by, event was a success. we have a ribbon cutting ceremony coming up next week, where the chamber of commerce is coming and it's another event. the location as far as guest count and revenue has remained the same as last month, so we see about every 6 weeks cycle, we see a good month, then a drop, but we stay consistent instead of dropping which is progress in our perspective. 225 per month new gusts per month, challenges are in retention, we are focused on retention.
The retention rate was 30% last month, it has gone up 2% this month
So the business, the team the manager is very energy, very committed to your location, team is doing better with ticket average, those are positive, but the growth is very slow still
Rigt now, our challenge is that payroll is due on friday, but theres not enough funds to cover it, so we need to check with you for your deposit this month
we will begin sending you a weekly dashboard performance from the system
Financial statements are also almost ready, Feb should be received today and march within next week
he has agreed to deposit 10k tomorrow
is my first store sold? No, it's still on the market
He asked if its open, and we said not, it's closed
the first store, he is wondering when it is physically to be sold. We are currently looking for a buyer, we have it with a broker and with a group of Brazilian investors
process of resale has been challenging, but we have been doing our best
We've been extremely busy trying to keep his first store going towards sustainability
We've offered to similar foreign investors, but it takes time for them to start due diligence, go back and forth and share financial information
we've been having progress, but extremely slow
We are currently in the process, and they are interested in California, we will send additional info this week. We also have to work with the Landlord with these salons in this sales process
i have put in 10k last month and putting another 10k this month, in the agreement, we have a 4 month period, because according to the
For next month, do i still have to out in 10k?
what we are trying to do is manage his investment, we put together an Agreement, but we want him to understand this is his business and if he supports his business, he will be able to gain from that success. we are managing his stores, but his priority is to help with his business by funding. we did give him an Agreement, but as an owner, we can offer to pay it as a loan, or we
he will take a look at the email and get back with us later
we are doing everything we can to help his business, and it only been 30 days since we last5 spoke, and we actually are trying to partner up with Loreal to help his business grow.
We can set up meetings with his GM, he's more than welcome to give feedback from his data


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