MergerPlace

Turn-Key Hair Salon

Monmouth, New Jersey


  • Asking Price: $270,000
  • Gross Income: $563,000
  • Cash Flow: $199,887
  • Real Estate: Not Disclosed
  • Inventory: $12,000
  • FF&E: $50,000
  • Listing ID: #202288
  • Established: 2002
  • Employees: 13

Business Description

Listing Description
High end turn-key hair salon for sale in a very affluent rural area of South Jersey. This salon has been in business for over a decade. In the process, it has built an excellent reputation with a very loyal following of repeat customers. Each client has a profile that is created for new customers and updated for preexisting ones. So each time the customer returns the staff knows exactly what they like and how they like it, this creates phenomenal customer service. Great customer service has been the bedrock of their success and keeps their client’s coming back…very often. This turn-key hair salon is a beautiful business (no-pun intended) that was professionally designed & decorated to resemble some of the hottest salons in New York City. Rare imported custom granite floors, open ceilings, and private work stations all situated in a great open floor plan. It truly is a beautiful establishment that is a must see to appreciate it. The new owner of this business will be very proud to bring new customers, friends, and family there because as soon as you walk in, you know that you are in an upscale establisment…at least that is the impression that my team at Business Acquisition Experts got.

The owner also works in the salon but currently accounts for less than or equal to 10% of the businesses total gross revenue. The salon currently has a full staff of 12 employees with that consist of 7 professional sylists (they are the core of the biz), make-up artists,beauty assistants and a receptionists. The top 4 stylists have an average tenure at this salon for 8-10 years. They all have a full book of loyal, dedicated and recurring customers (Women & Men) that have been going to them for years. The average ticket price per customer at the salon is about $75-100. Over the past three years business at this turn-key hair salon has grown by 20%, even while the current owner/seller has been less active in the day to day roles. A new owner that is energetic, customer friendly, and ambitious can definitely increase sales even more, possibly double it. To take this salon to the next level.

Their reputation and excellent word of mouth referrals is what keeps this salon busy and profitable year in and year out. They don’t do any advertising whatsoever. The owner doesn’t feel a need to advertise because of their very strong customer base. And the owner will you tell you he is just not motivated to grow it anymore and hasn’t been for quite a while. And yet the business is still growing. That speaks volumes about their staff and reputation. But if a new owner really want to grow this already lucrative business, we think focusing on advertising and on up selling of hair & beauty products would be an excellent strategy for growth. This is a “lifestyle business” that produces $120K+ per year in cash flow. And the best part about it is, the employees are making the dough. MOST salon’s are heavily concentrated and connected to the owner whom is usually the head stylist. NOT the case here! The current can leave… and has for a month or two at a time and the business runs itself. Very rare for this type of business, very rare.

The ideal buyer would be an enthusiastic stylist who wants to own their own shop and not have to take the big risk and years of hard work,sweat, and tears of trying to build a successful business from scratch. This salon has already done that and is primed for the next owner to take over. Any buyer with great customer and sales skills could own this business and profit just by owning/managing the place without having to perform any of the salon’s services besides management.

For more info call Business Acquisition Experts at (646)737-5273

This listing can also be found on www.bizbuysell.com , www.bizquest.com, www.businessbroker.net and many more…

Listing Details
Down Payment: $150,000

Total Sales: $553,000

Cash Flow: $120,000

FFE: $49,999 (Included in Price)

Inventory: $12,000 (Included in Price)

Lender Pre-Qualified?: Yes

Terms and Conditions?:

Seller can provide or arrange for financing of up to $100-120k with competitive rates and a much easier process than dealing with the SBA or conventional lenders.

Reason For Sale:

The seller has been burned out for a while with this business. And wants to move to South Florida and pursue other business ventures with the family.

Training & Support:

30 days of Full Training and on-going phone support comes with the purchase of this business.

Operation
Year Established: Early 2000's

Year of Last Acquisition: n/a

Days & Hours of Operation: Normal Salon hours Tuesday- Sunday. Closed Monday

Owner Hours Per Week: 35

Employees: 12

Managers: 1

Summary
Historical Summary:

Started from scratch over a decade ago. It cost approximately $275,000 in start-up costs to design, develop, and open this very upscale salon. They have spent the last decade achieving the hardest part, that is building a great customer base and turning a profit. You can buy this turn-key operation for less then it would cost you to open a new one today, and it comes with customers already in place. You can’t beat this deal, it will be a steal for someone, for sure!

Competition:

None within close proximity that can even compare.

Financing/Terms:

FINANCING IS DEFINITELY AVAILABLE


Business Details

Primary Business Category: Retail Trade - Beauty Salons, Barber Shops
Location: New Jersey
Metropolitan Area: Monmouth

Company Information

Year Established: 2002
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 13

Financial Information

Asking Price: $270,000
Gross Revenue: $563,000
Cash Flow: $199,887
FF&E: $50,000
Inventory: $12,000
Seller Financing Available: Yes

Property Information

Competition:

None within close proximity that can even compare.

Reason for selling:

Moving to Florida. New Business Venture

Support & Training:

30 days of Full Training and on-going phone support comes with the purchase of this business. Seller will stay on as an consultant or employee if desired.

Contact Business Seller

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Business Listed By:

Cody Weaver

Business Acquisition Experts