Listing ID: 74772
JJ’S Barber Shop is an established locally owned business of 40 years with many returning customers that come back year after year for the great haircuts and friendly service. Located in the downtown Palm Springs area within walking distance to the area’s many attractions, restaurants, world-class hotels, casino, and terrific shopping. JJ’s is across the street from the new Aqua Caliente Cultural Center due to open soon that is sure to be a major attraction to the area and create more foot traffic! JJ’s has two styling chairs and two washbowls. Please call the broker for more details on this turn-key opportunity and to arrange a showing.
This information while not guaranteed has been obtained from sources deemed reliable. Buyers must verify the information and bear all risks for any inaccuracies. DRE #01366091 000021822
- Asking Price: $48,000
- Cash Flow: $32,239
- Gross Revenue: $43,130
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1982
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:550
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
545 Sq Ft styling shop with 2 styling chairs and 2 washbowls.
Will train for an agreed amount of time for a smooth transition.
The company was founded in 1982, making the business 40 years old.
The company has 1 employees and is located in a building with approx. square footage of 550 sq ft.
The building is leased by the business for $545 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons people resolve to sell companies. Nevertheless, the genuine reason and the one they tell you may be 2 absolutely different things. For instance, they may state "I have a lot of various responsibilities" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these may just be justifications to attempt to hide the reality of transforming demographics, increased competitors, current reduction in incomes, or a range of other factors. This is why it is very vital that you not count entirely on a vendor's word, however rather, use the vendor's solution together with your overall due diligence. This will paint a much more reasonable picture of the business's current scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous companies are, then you will certainly need to consider this when valuating/preparing your deal. Lots of businesses take out loans in order to cover things such as inventory, payroll, accounts payable, so on and so forth. Remember that in some cases this can suggest that earnings margins are too small. Numerous organisations come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future obligations to consider. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with suppliers that need to be fulfilled or might lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the location bring in brand-new consumers? Most times, companies have repeat customers, which develop the core of their everyday earnings. Certain aspects such as brand-new competitors growing up around the location, roadway building, and also staff turnover can affect repeat clients and also adversely affect future revenues. One essential thing to think about is the placement of the business. Is it in an extremely 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 possibility to build a returning customer base. A last thought is the general area demographics. Is the business placed in a largely inhabited city, or is it located on the outside border of town? How might the regional typical family earnings effect future earnings potential?