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$1 million+ Hair & Nail Salon---Unique Concept!
North CarolinaListing DetailsOffice ID: SALON3
Status: Sold
Listing Broker: George Bradbury
Listing Price: $570,000
Gross Revenue: $1,137,000
12 Month Forecast: $1,350,000
Forecasted Cash Flow: $207,000
Inventory: $27,000
Inventory Included: Yes
FF&E: $150,000
FF&E Included: Yes
Sale Price: $500,000
Sales Structure: Asset Sale
Seller Financing: Yes
Absentee Owner: Yes
Reason for Sale:
The Owner has a full time job. The business and job to much.
Owner will work with new buyer for at least 30 days.
OperationsYear Established: 2012
Form of Ownership: S Corp
Employees (full-time): 9
Employees (part-time): 22
Employees (contractors): 2
Managers: 1
Business Hours: Mon-Fri 10-8 Sat 9-6
Business Description:
This very profitable beauty salon has had terrific growth---the last four year averaging 35% per year, growing to $1.1 million in 2016. This upscale trendy salon is a business opportunity for an individual or a strategic buyer to enter the active beauty industry. Possibility of franchising this unique concept. Located in a high traffic, wealthy community----a neighborhood where people work, eat, shop and live. This salon gets a large percentage of their business from wedding parties and other functions. Along with a mix of hair, beauty and nail treatments services, their unique location along with one service not usually found in conventional salons-----allows this salon to execute parties and functions---like no none else in their market. More than being part of beauty industry---it's being part of a social party culture! This business is currently run by an absentee owner. Great social media presence, Highly Profitable!
Historical Summary:
This owner had opened a similar business 10 years ago using the same combination of services.
The reason this salon has grown 35% a year the last 4 years to $1.1 million is no one offers the exact mix of services
Potential Growth:
Only 60% occupancy of the stylists many more functions and parties if someone focused. Possibility of franchising this unique concept.
LocationType of Location: Shopping Mall
Real Estate for Sale: Yes
Lease Expires: Mar 31, 2019
Option: 3 years
Lease Security: $4
Monthly Rent: $5,734
Monthly Common Area Maintenance: $1,699
Square Footage: 3388
There are 3,388 square feet of leased spaced. Located in an upscale neighborhood where people live, shop, eat and work.
Last Updated: Dec 18, 2017 / 11:53 AM
Financial Information Current As Of: Feb 12, 2017 / 9:24 AM