MergerPlace

Salon

Pennsylvania


  • Asking Price: $299,900
  • Gross Income: $498,287
  • Cash Flow: $143,918
  • Real Estate: Not Disclosed
  • Inventory: $8,000
  • FF&E: $15,000
  • Listing ID: #220557
  • Established: 2007
  • Employees: 6 FT / 6 PT

Business Description

This full-service hair salon was started in 2007 by the current owner and at the time he was the one and only stylist. However, over the last thirteen years the salon has experienced tremendous growth and the growth has been extremely consistent. Each and every year of operation resulted in higher revenue than the previous year, typically generating a 5-10% increase over the previous year. Of course, the other area of growth has been the expansion of staff to approximately eleven stylists. The staff has been very stable over the years and in some cases there are stylists that have been with the salon for eleven years. The online reviews have been very good due to the staff being reliable and producing high quality work. The salon itself describes themselves as an upscale “come as you are salon.” The environment is clean, upbeat, non-judgmental and extremely friendly. They provide their customers with a complimentary beverage and free wi-fi.


Business Details

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

Company Information

Year Established: 2007
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 6 FT / 6 PT

Financial Information

Asking Price: $299,900
Gross Revenue: $498,287
Cash Flow: $143,918
FF&E: $15,000
Inventory: $8,000
Seller Financing Available: No

Property Information

Facilities:

The salon resides in an attractive and inviting atmosphere. Hence, the loyal client base looks forward to having services performed. It doesn’t get any better than its current prime location and having ample private parking behind the salon. Its location has high visibility on a high traffic count street. The salon is currently near the end of a five-year lease term which ends in December of 2020. Currently the rent is $2201 per month, including water and the beauty of this lease is there are no CAM fees, which is quite unusual. The rented space is 1560 square feet. The landlord is willing to sign a transfer or sign a new lease with a new qualified owner.

Growth & expansion opportunities:

The salon resides in an attractive and inviting atmosphere. Hence, the loyal client base looks forward to having services performed. The location of the salon is on the main street which provides high visibility on a high traffic count street. As the growth of the area continues, so does the need and demand for full-service hair salon services.

Competition:

The hair salon industry tends to be very stable and is growing quite rapidly due to the surrounding areas that are seeing increased population and tremendous growth. This industry still requires being face to face in order to receive the services offered which eliminates online competition. There is a strong demand for the current services provided and an opportunity to add additional services if desired. The salon has a recognized and established presence in the region. This salon is in the top two salons in the area and if you look at their reviews it is easy to understand why. The website is impressive and allows clients to book appointments online.

Reason for selling:

Career Transition.

Support & Training:

Will train for 2 weeks @ no cost All services at the salon are customized to fit the client’s individual needs. They are a full-service hair salon providing hair cutting, styling, shampoo and coloring services for both women and men. In addition to hair, they also provide waxing services and offer a host of packages to choose from for wedding parties. The salon also sells hair products as an independent dealer. They are not under any contractual obligations to represent any specific product line. Licensing—The salon needs to be licensed by the Pennsylvania Board of Cosmetology and each of the stylists need to have a Cosmetology license from the state of Pennsylvania in order to perform services.

Contact Business Seller

This form may be used only to contact the seller of this specific business listing. Please do not use this form for any other purpose.

Business Listed By:

Jack Greenwalt

Murphy Business Brokers