Business Overview

Independent (non-franchised), award winning salon in the suburbs of Chicago provides services for both women and men. Consistent revenue and priced appropriately for the cash flow provided from the business. This beautifully adorned turnkey salon celebrates a long history in its very accessible in a high traffic location with a full suite of services including hair styling, skin treatments, nails, massage. This facility caters to both individual services and group event buyouts for special occasions and packages for total body care. It celebrates a long tenured service team with an emphasis on a family-like, warm and welcoming environment. A must see for anyone looking in this category!

Financial

  • Asking Price: $175,000
  • Cash Flow: $90,000
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: N/A
Purpose For Selling:

other interests

Why is the Current Owner Selling The Business?

There are all kinds of reasons people decide to sell operating businesses. However, the genuine factor and the one they tell you may be 2 entirely different things. As an example, they may say "I have a lot of various obligations" or "I am retiring". For numerous sellers, these factors stand. However, for some, these might simply be excuses to try to hide the reality of transforming demographics, increased competitors, recent reduction in profits, or an array of various other reasons. This is why it is really crucial that you not depend absolutely on a seller's word, however instead, make use of the seller's response along with your general due diligence. This will repaint an extra sensible image of the business's present circumstance.

Existing Debts and Future Obligations

If the current business is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your offer. Many businesses finance loans so as to cover items like supplies, payroll, accounts payable, so on and so forth. Remember that sometimes this can indicate that earnings margins are too thin. Lots of organisations fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may additionally be future obligations to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that must be fulfilled or might result in penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do businesses in the area attract brand-new consumers? Most times, operating businesses have repeat customers, which develop the core of their everyday revenues. Specific factors such as new competitors growing up around the location, roadway construction, as well as staff turn over can influence repeat clients as well as negatively affect future incomes. One essential thing to think about is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Clearly, the more individuals that see the business on a regular basis, the greater the possibility to construct a returning client base. A final thought is the basic location demographics. Is the business located in a largely inhabited city, or is it located on the outside border of town? Just how might the regional median household income influence future earnings potential?