MergerPlace

Beauty Salon - Hair, Nails, Skin, Lashes

Florida (Manatee)


  • Asking Price: $155,000
  • Gross Income: $527,231
  • Cash Flow: $88,715
  • Real Estate: Not Disclosed
  • Inventory: $100
  • FF&E: $28,247
  • Listing ID: #219327
  • Established: 2010
  • Employees: 8 FT

Business Description

The salon is fresh in appearance and has six chairs. Their Team provides a full range of hair, nail, skin and lash experiences. The owner sees customers as desired or to assist the Team. Associates are encouraged to sell products and are incented for their success. There is a receptionist and customers can book their appointments online. Employees have years of experience in the industry. The relationship the employees have with the customers is positive and creates a fun exciting day of work. Management's attention to the needs of their employees has enabled those employees to bring value to their clients which is creating referrals and repeat business. The impact of the pandemic, like all salons across the nation, has been interrupted by client social distancing. As these guidelines are being lifted, the surrounding client base is returning to their respective beautician. Notice, that under the current and recent owners from mid-2018, they were able to and demonstrated the potential of the Salon with their reaching $527,231 in revenues.

The Health Crisis impact in March had an impact on revenues and margins for the entire industry. They closed down at the end of March. They are again open at the State Level II capability.


Business Details

Primary Business Category: Retail Trade - Beauty Salons, Barber Shops
Location: Florida
County: Manatee

Company Information

Year Established: 2010
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 8 FT

Financial Information

Asking Price: $155,000
Gross Revenue: $527,231
Cash Flow: $88,715
FF&E: $28,247
Inventory: $100
Seller Financing Available: No

Property Information

Facilities:

The Salon leases in a current, well maintained shopping center with a sizable anchor tenant. Pictures are available. The center is on a well traveled highway. The tenants around them include restaurants, a national hardware store to name a few and the ingress/egress is good. Current Lease Payments are $2,749.59 +ST and is up for renewal April 30, 2021.

Growth & expansion opportunities:

The year 2018 was a transition year and the Salon exceeded 2018 sales level in 2019. The potential for continued growth is through smart management skills that understands employee motivation and client satisfaction. That combination occurred in 2019 and continued into 2020. The Pandemic had its impact on the industry and based on current Covid19 guidelines, is back open. Additionally, the Salon has had product sales success and believes there is potential for even greater success with continued product sales training with quality products. Additional "specials" can be run that has only just begun. Community charity activities also has proven to be a success and brings customers into the Salon. Monthly Sales and Staffing trends are showing the return of the client base.

Competition:

This business is well established in this retail complex. The closest salon is two miles away. There is a dedicated Nail Salon close by. The subject business is open 6 days a week with normal 9-4 or 7 pm hours. During season, they can be open 7 days a week.

Reason for selling:

These owners are exiting the industry. The owners have several businesses. This business is run primarily by the wife. They also have several children of the middle and high school age that are engaged in many different activities. The family wants to enjoy their youth and the related school events.Thus, they are selling this business to allow the spouse to manage the family activities.

Support & Training:

Will train for 2 weeks @ no cost They experienced Team provides a host of services for hair, nails, skin and lashes. Their core products are Redkin and Kevin Murphy. Business license for the State & County are required and employees with clients are licensed by the State of Florida.

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Business Listed By:

David Kresge

Murphy Business Brokers