Listing ID: 76254
How much do you pay to rent your chair? For close to that you could be covering the tab on this whole salon while collecting rent from your own stable of professionals.
Are you a Stylist or Barber looking for your own shop? A shop owner looking for another location? Then this place is for you, dirt-cheap rent, all chairs except yours full with renters. The work has been done for you, bring your clients and take over this revenue stream.
Recently remodeled, beautiful eclectic space in downtown Lincoln. Close to event spaces, UNL, student housing, everything you need to have as much business as you want!
And they have been successfully navigating the Covid requirements. Once things get fully back to normal this place will be booming!
- Asking Price: $30,000
- Cash Flow: $15,000
- Gross Revenue: $26,000
- EBITDA: N/A
- FF&E: $22,000
- Inventory: $5,000
- Inventory Included: Yes
- Established: 2008
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:850
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
5 stations, 2 wash stations, newly remodeled, new ac, chairs rented, updated equipment, lots of walk ins.
Owner willing to do 4 week transition period to assist in the smooth turn over of the business. And is willing to discuss staying on as a renter until the end of 2021
Owner is PT, wants to focus on other business.
Salons come up for sale often, with no chairs full, no clientele, this is different, this is a full salon, in operation and generating income. You make your chair rent whether you go in or not, bring your clients and add to it.
Keep your chairs full, add new products and services, nurture your walk ins and make money, expand as much as you want to work.
The venture was started in 2008, making the business 14 years old.
The deal does include inventory valued at $5,000, which is included in the asking price.
The business has 2 ft/1pt employees and resides in a building with disclosed square footage of 850 sq ft.
The real estate is leased by the company for $850 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people decide to sell businesses. Nonetheless, the genuine factor and the one they say to you may be 2 completely different things. As an example, they may state "I have way too many various obligations" or "I am retiring". For many sellers, these reasons stand. But also, for some, these might simply be justifications to attempt to hide the reality of transforming demographics, increased competition, recent reduction in earnings, or a variety of various other factors. This is why it is extremely essential that you not depend entirely on a vendor's word, yet instead, utilize the seller's response along with your general due diligence. This will paint an extra sensible image of the business's present circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your offer. Many companies finance loans so as to cover items like stock, payroll, accounts payable, and so on. Keep in mind that sometimes this can suggest that earnings margins are too tight. Many organisations fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may also be future obligations to think about. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that have to be met or might cause penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area draw in brand-new consumers? Often times, operating businesses have repeat customers, which develop the core of their daily revenues. Particular factors such as new competition growing up around the area, road building and construction, as well as staff turnover can affect repeat consumers as well as adversely affect future incomes. One crucial thing to think about is the area of the business. Is it in a very trafficked shopping center, or is it concealed from the highway? Undoubtedly, the more people that see the business on a regular basis, the better the possibility to develop a returning customer base. A final thought is the general area demographics. Is the business situated in a densely inhabited city, or is it located on the edge of town? How might the regional median home earnings influence future earnings prospects?