Listing ID: 83072
Business Overview
Sunbelt Business Brokers of New Orleans presents this prominent hair salon business for sale in New Orleans, La. Business is located in one of the most desirable locations in the city. Salon is primed for an owner operator or as an extra location to expand. Salon has many loyal repeat customers. Salon is beautifully decorated and furnished. No one walks in this business and is disappointed. Business occupies a leased space of approximately 1,200sqft. Business has multiple areas set up for hair, makeup and nails. Salon currently has approximately 6 chairs for rent at any given time for hair. Salon is also a very popular option for wedding and bridal parties to get prepared and ready due to the great layout of services and convenient location.
Business is priced to sell. Owner is ready to retire and will seriously consider all reasonable offers. Seller will help train and transition new owner. Contact us today for more information on this prominent hair salon business for sale!
Financial
- Asking Price: $200,000
- Cash Flow: $79,000
- Gross Revenue: $206,591
- EBITDA: N/A
- FF&E: $58,000
- Inventory: $7,000
- Inventory Included: N/A
- Established: 2013
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,200
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
Available
Owner relocation
Additional Info
The company was started in 2013, making the business 9 years old.
The sale doesn't include inventory valued at $7,000*, which ins't included in the asking price.
The business has 2Ft 2PT employees and is located in a building with disclosed square footage of 1,200 sq ft.
The property is leased by the business for $2,400 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals choose to sell businesses. Nevertheless, the true factor vs the one they tell you may be 2 completely different things. As an example, they may say "I have too many various commitments" or "I am retiring". For numerous sellers, these reasons stand. But, for some, these may simply be excuses to attempt to conceal the reality of changing demographics, increased competitors, recent decrease in incomes, or a range of other reasons. This is why it is extremely vital that you not count entirely on a vendor's word, but rather, use the seller's response in conjunction with your general due diligence. This will paint a more sensible picture of the business's present scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which many companies are, then you will have reason to consider this when valuating/preparing your offer. Many companies borrow money so as to cover things such as supplies, payroll, accounts payable, etc. Bear in mind that sometimes this can imply that profit margins are too small. Lots of businesses fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to think about. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with suppliers that have to be fulfilled or might result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location draw in brand-new customers? Many times, businesses have repeat customers, which create the core of their day-to-day revenues. Specific elements such as new competition sprouting up around the location, roadway construction, as well as staff turn over can affect repeat consumers and negatively affect future profits. One important thing to take into consideration is the placement of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Certainly, the more individuals that see the business often, the better the possibility to build a returning consumer base. A final thought is the basic location demographics. Is the business situated in a densely inhabited city, or is it situated on the edge of town? Just how might the regional average family income impact future income potential?
