Listing ID: 66947
Business Overview
This business is an upscale women and men’s hair salon that is professionally designed and exceptionally attractive inside and out. It is adjacent to businesses which are a destination for those shopping for services like hair salons, retail shops, restaurants, espresso businesses, etc.
The location is adjacent to the shores of Lake Washington when one can bike, lie on the beach, visit a gallery or enjoy a latte. . One can greet the day with a morning lakefront stroll with your pet; spend your free afternoon picnicking at the beach; settle into the evening with a 5-star dinner at the Café, then top it off with that glass of your favorite wine. It brings together everything one needs for a well-lived daily lifestyle.
Salon services include women and men’s haircuts, styling, hair coloring, keratin treatment, extension and more. Regular customers are mostly local with some local seasonal clientele. The business does a lot of high quality hair coloring and charges upscale salon pricing.
Financial
- Asking Price: $140,000
- Cash Flow: $68,000
- Gross Revenue: $115,000
- EBITDA: N/A
- FF&E: $65,000
- Inventory: $2,000
- Inventory Included: Yes
- Established: 2014
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:855
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
This hair styling studio is fully equipped with six styling stations, one hair drying station, shelving, cabinets and storage units, a lower storage unit with sink, six hydraulic styling chairs, two tilt-bowl stations, two receptions chairs, an elegant desk system for welcoming clients and completing transactions, big screen TV, high quality decorative lighting fixtures, and many salon furnishings and equipment items. All the necessary resources to run an exceptional business are included. Equipment is impeccably maintained—everything appears like new. The salon owner with decades of experience in the industry, is meticulous about maintaining an immaculately clean studio and a reputation for exceptional customer service.
Owner is willing to stay on long enough to smoothly transition the existing clients to a new owner.
retire
There are approximately 3 other salons located in the area and all seem to do well. At this salon, the business has the best reputation for doing all the salon services extremely well and has developed a strong following, based on high quality service instead of low prices. The owner has all the business she desires and does not wish to advertise for more.
Additional Info
The venture was started in 2014, making the business 8 years old.
The deal does include inventory valued at $2,000, which is included in the requested price.
The company has 1 employees and resides in a building with approx. square footage of 855 sq ft.
The real estate is leased by the company for $2,821 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals decide to sell companies. Nonetheless, the genuine reason and the one they tell you may be 2 entirely different things. For instance, they may say "I have way too many other obligations" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these might just be excuses to try to conceal the reality of transforming demographics, increased competitors, recent decrease in incomes, or a range of other reasons. This is why it is really vital that you not rely completely on a seller's word, but instead, utilize the seller's answer together with your overall due diligence. This will paint a much more practical image of the business's current circumstance.
Existing Debts and Future Obligations
If the existing entity is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your deal. Lots of operating businesses finance loans in order to cover points such as supplies, payroll, accounts payable, so on and so forth. Remember that occasionally this can indicate that revenue margins are too small. Many companies come under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may additionally be future obligations to think about. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with suppliers that must be met or may cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the area attract new customers? Many times, operating businesses have repeat consumers, which create the core of their everyday profits. Certain factors such as new competition growing up around the area, roadway building and construction, and personnel turnover can influence repeat consumers and also negatively impact future incomes. One essential thing to consider is the area of the business. Is it in a very trafficked shopping mall, or is it concealed from the main road? Certainly, the more people that see the business on a regular basis, the better the opportunity to construct a returning consumer base. A last thought is the general area demographics. Is the business situated in a densely inhabited city, or is it situated on the outskirts of town? How might the neighborhood mean family income impact future income prospects?
