My wife is a hairstylist and rents a chair at a hair salon. She’s worked there a few years and the owner has begun hinting that she wants out. Owner is near retirement age. My wife is getting a bit antsy at some of the business decisions being made, and what she would do different. She’s thinking about asking the owner for her price to buy the place out. How does that work? How does that process start (aside from bringing up the conversation).
A rental salon is not worth much if you don’t own the building. The only thing you’re buying is the initial build out and goodwill of clients. As a stylist, if you leave the clients leave with you. So goodwill is not even for sale. Don’t pay very much if there’s no real estate.