Listing ID: 71271
Well established salon, 22 years in the same location, Customer base with over 10k customer contacts. Great location, high traffic area. Owner looking to retire. Great turn key business, Owner financing is being offered. Location has been updated over the years. Equipment is not new, but is the best quality within the industry, in like new condition. Owner is meticulous with a aspect of this business.
Well established salon, same location for 22 years. same ownership for over 22 years. active client list of over 2000 customers. 6 standup booths and 1 laydown booth. All equipment in excellent condition and good working order. Salon is turn key for new owners, and needs no improvements to location. Products are available for sale. They are the largest within the nearby area, loyal customer base, with a strong following and excellent reputation. Full computer system, with all system and controls in place to monitor business operation from any location. This is a one person operation, Salon has over, 135 5 Star google reviews.
Several points for growth, packages are not being offered, this a excellent way to increase sales and cash flow. Operating hours are limited currently Open 7 days weekly from 9;00 am to 2;00 pm, current owners choice. New ownership should open earlier and stay open much later, There is currently no advertising being done all word of mouth and repeat business. two additional room are currently empty, can be rented or used for nails, hair care, etc. Excellent opportunity for hands on ownership, or a sound business investment.
Ground level, 1st floor, walk in directly from off street parking lot.
- Asking Price: $94,000
- Cash Flow: $41,627
- Gross Revenue: $109,216
- EBITDA: N/A
- FF&E: $30,000
- Inventory: $2,000
- Inventory Included: Yes
- Established: 1999
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,200
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
The business was founded in 1999, making the business 23 years old.
The sale does include inventory valued at $2,000, which is included in the suggested price.
The company has 1 employees and is situated in a building with approx. square footage of 1,200 sq ft.
The building is leased by the business for $2,000 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals resolve to sell companies. Nevertheless, the real factor vs the one they tell you might be 2 totally different things. For instance, they might claim "I have a lot of various obligations" or "I am retiring". For numerous sellers, these reasons stand. However, for some, these might just be excuses to try to hide the reality of changing demographics, increased competition, current reduction in revenues, or a range of other factors. This is why it is extremely vital that you not count totally on a seller's word, yet rather, use the seller's response in conjunction with your total due diligence. This will repaint a more reasonable image of the business's current situation.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of businesses take out loans with the purpose of covering things such as inventory, payroll, accounts payable, etc. Remember that occasionally this can indicate that earnings margins are too small. Numerous businesses come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also be future commitments to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with vendors that have to be met or might result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area bring in new consumers? Often times, businesses have repeat clients, which form the core of their daily revenues. Specific variables such as new competitors sprouting up around the area, road construction, and employee turnover can influence repeat clients and adversely affect future incomes. One vital thing to take into consideration is the location of the business. Is it in a very trafficked shopping mall, or is it concealed from the main road? Clearly, the more people that see the business regularly, the better the possibility to develop a returning client base. A final thought is the basic location demographics. Is the business placed in a largely populated city, or is it situated on the edge of town? How might the local average family earnings effect future earnings potential?