Owners Meeting

They want a video call to see the store. Next week. The manager needs to show the store on Skype.

She asked about the management structure over here. I explained that I'm an owner of FranVest, we have Darryl and Gary who also oversee the stores, Christine is their GM and then we have local managers.

They want an official letter and all the expenses in a transaction report.

They want payroll expenses.

They don't feel that putting money in will be a viable solution because they don't feel that we can save either store.

They asked about insurance. Bruce said that the investment must be at risk and therefore no insurances are allowed.

Comments (1)

  1. Sabrina Wall :

    The call was several hours. They talked about expenses, the asked about why this occurred. We explained the model is to offer discounted hair services. We stated the build out at approximately $160k each store, the franchise license of approximately $50k and that leaves $60k working capital each store. When expenses due to payroll are higher than revenue coming in the capital goes quickly. We explained that the direction we have been given by Fantastic Sams is that is the model to follow. The previous message encompasses their requests at the end of the call.

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