I was watching Shark Tank the other day and something Mark Cuban said stuck in my head. "I don't want to be an owner, but will be a customer." We fellow mongers are consistently the customers at these fine massage establishments but what would it be like to own one.
Lets work through the pros and cons of owning a parlor.
Pros:
1. Cash money: These businesses churn a lot of money and mostly the money is cash.
2. Fairly low set up cost: Build up some temporary walls, a table, towels, and some mood music is all a parlor really needs to get started.
3. Low Barriers to entry: It does not take great specialized skills to open up a parlor.
Cons:
1. Getting busted: If you are on the up and up, you probably won't make as much money, so sometimes, offer things that are not on the posted menu. These things are what get some parlors in trouble.
2. Lots of competition: In any given Asian community, there are numerous parlors that are vying for the monger dollar. If you open one up, you best be sure you will be in a dogfight to earn that buck.
3. Shakedowns: Since these are all cash businesses, it is highly susceptible to shakedowns or robberies.
Any thoughts or insights on owning a parlor. For right now, I will stick Mr. Cuban's sage advice and be a customer.
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