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I came into a little bit of money through stock options and decided to look for a business I could buy into, run itself and bring in some money.
So a friend of mine found some tanning salons for sale, pretty cheap. $30,000 for 2 of them. We got the books, we looked and it seemed like it would be pretty easy to make money there. We even divided the numbers by 4 and said ok, even if it makes 1/4th of this amount we'll be ok.
I lost everything. House... bankruptcy... nice cars... you name it. It wasn't pretty.
Sigh. I should have looked into it more, but it was extremely misrepresented.
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KingOtter
You can't push on a rope.
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