Office ID: #001030
A well-established upscale salon suite in the fast-growing city of DFW is now available for acquisition. The salon suite was established in 2013 by the current owner. The business is located in a 7,500+ SF space of a retail center anchored by multiple national retailers in the hub of a strong retail zone of this city surrounded by a full of national retail stores, numerous businesses, and fast-food restaurants, which creates tremendous foot traffic. Over 40 salons independently owned by experienced salon professionals are currently occupied in this luxurious salon suite, and the individual salons are providing a variety of exceptional services ranging from hair, makeup, nail, massage, barbers and etc. to their customers consisting of middle to high-income women in all age groups that have come for several years to this business through good customer relations. Competition can be expected in this business industry, but this is one of the largest salon suites that has more than 40 suites that feature state-of-the-art build-outs with an elegant interior within the immediate market area. The gross revenue of this salon suite is running at around $430-435K/year, most of which is generated from suite rental fees. Currently, some marketing is in place for customers of this salon suite, but proactive marketing toward prospective tenants is needed to be fully utilized to acquire new tenants or achieve maximum income potential. The occupancy rate of this salon suite is currently just over 90%, and filling the remaining suites by utilizing marketing methods targeted to salon professionals will instantaneously increase the revenue. This is a great opportunity to acquire a luxurious salon suite for a potential buyer who is willing to be more hands-on in the day-to-day operation and proactive marketing to reach out to an untapped demographic of this market area.
This business is occupied in a 7,550 SF space of a retail strip center located next to one of the busiest roads of this city with heavy foot traffic. The business has been gorgeously built to give a luxurious atmosphere while also providing high-quality services that match the business concept. The salon suite has a capacity that can accommodate more than 40 individual salon suites.
Some marketing is in place through its website and a word of mouth, but more proactive marketing methods will be needed in order to create more exposure and reach its full financial potential. Targeted marketing to potential tenants is the key to grow further growth of the business.
There are few small-size salon suites around, but this business is one of the largest salon suites in the immediate market area providing a variety of high-quality services to many customers with state-of-the-art build-out which has more than 40 suites.
Focusing more on a full-time corporate position
The owner will provide sufficient training for an agreed-upon period to make the transition into the business as seamless as possible. Franchise Corporate will also provide comprehensive training.