Listing ID: 74194
Don’t wait, this won’t last long! This is the perfect opportunity for your dreams to come true and own your business. This is a beautiful, turnkey full-service salon that is in a prime Metro Detroit Area.
OVER $125K has been recently spent on updates and renovations. Nothing spared when they added brand new equipment and fixtures. You must see it!
Amazing staff of 10+ Stylist, Techs and Reception help.
Seller has suffered a family illness and unfortunately must sell.
- Asking Price: $78,500
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: $50,000
- Inventory: $10,000
- Inventory Included: N/A
- Established: 2020
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,000
- Lot Size:N/A
- Total Number of Employees:6
- Furniture, Fixtures and Equipment:N/A
Great location in prime area of Metro Detroit. Complete renovation in 2021
Seller will be available for two months at a minimum of 2 hours per day at no additional cost to the Buyer
Update the website to include more specials and access to social media. Get more involved in the community.
Continue to promote with current clients offering incentives for referrals and promotions.
The business was founded in 2020, making the business 2 years old.
The transaction shall not include inventory valued at $10,000*, which ins't included in the requested price.
The business has 6FT/7PT employees and is located in a building with disclosed square footage of 2,000 sq ft.
The real estate is leased by the company for $2,350 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons people resolve to sell businesses. However, the real factor vs the one they say to you might be 2 entirely different things. For instance, they may claim "I have way too many various commitments" or "I am retiring". For numerous sellers, these factors stand. But also, for some, these may simply be excuses to try to conceal the reality of altering demographics, increased competition, current reduction in incomes, or a variety of various other factors. This is why it is very crucial that you not depend completely on a vendor's word, yet instead, utilize the vendor's answer combined with your total due diligence. This will repaint an extra practical image of the business's existing situation.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of companies are, then you will need to consider this when valuating/preparing your deal. Many operating businesses finance loans with the purpose of covering points such as inventory, payroll, accounts payable, and so on. Keep in mind that sometimes this can suggest that revenue margins are too tight. Lots of businesses fall under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may likewise be future obligations to consider. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with suppliers that should be met or may cause fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the area draw in brand-new clients? Often times, operating businesses have repeat consumers, which create the core of their day-to-day revenues. Certain variables such as new competitors sprouting up around the area, roadway construction, and also personnel turnover can affect repeat customers as well as negatively affect future profits. One important thing to think about is the placement of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Clearly, the more people that see the business on a regular basis, the better the chance to construct a returning customer base. A final idea is the basic area demographics. Is the business situated in a densely inhabited city, or is it situated on the outside border of town? How might the neighborhood typical household earnings effect future earnings potential?