MergerPlace

Two-Location Hair Salon Business

Ontario


  • Asking Price: $234,900
  • Gross Income: $503,050
  • Cash Flow: $118,159
  • Real Estate: Not Disclosed
  • Inventory: $30,000
  • FF&E: $53,597
  • Listing ID: #198881
  • Established: 1969
  • Employees: 4 FT/2 PT

Business Description

This is a highly successful two-location hair salon business in southwestern Ontario. The business has a solid reputation in its market as a high-end/premium service provider for men, women and children's hair styles, streaking, coloring, highlights, up-do's, permanents, brush & crew cuts, hair pieces and wigs, with highly experienced, tenured staff. Both locations provide good foot traffic and area easily accessible with good parking.


Business Details

Primary Business Category: Retail Trade - Beauty Salons, Barber Shops
Location: Ontario

Company Information

Year Established: 1969
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 4 FT/2 PT

Financial Information

Asking Price: $234,900
Gross Revenue: $503,050
Cash Flow: $118,159
FF&E: $53,597
Inventory: $30,000
Seller Financing Available: Yes

Property Information

Facilities:

Two leased locations. Location #1 is in an enclosed mall. Location #2 is in a new strip plaza. Both offer ample parking and good foot traffic.

Growth & expansion opportunities:

A number of growth opportunities exist: 1) Currently owner is only working 2 days per week in location #1, buyer could take over this station with longer hours, or alternative stylist could be hired. 2) Additional hours could be offered (eg. Location one is currently not open on Mondays). 3) Increased focus on sale of wigs, medical wigs and hair pieces 4) Leverage additional space in location #2 to introduce additional services such as spa or nail services.

Competition:

There are no premium/high-end, full serve hair salon competitors within the trade radius of either salon location. There are a number of low-end franchise-based hair cutting establishments within the trade area such as Great Clips. These competitors tend to offer only basic hair cutting services and are generally staffed with less experienced professionals who rely heavily on heavy price promotions. Generally customers who utilize these types of competitors are not in the company's target market.

Reason for selling:

Owner is retiring after 48 years operating the business.

Support & Training:

Will train for 4 weeks @ no cost. Services offered include: premium hair styles for men, women and children, streaking, coloring, highlights, up-do's, permanents, brush & crew cuts. Business also sells hair pieces, wigs and medical wigs. Staff must hold appropriate licenses. Buyer does not require professional license if they do not intend to work directly with customers in the business.

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Business Listed By:

Peter Kerr

Murphy Business Brokers