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Popular Wellness Studio and Spa
NCListing DetailsOffice ID: SPA15
Status: Sold
Listing Broker: Jeff Snell, M&AMI, LCBI, ABI
Listing Price: $510,000
Gross Revenue: $899,029
Cash Flow: $169,824
Inventory: $40,413
Inventory Included: Yes
FF&E: $45,099
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:
Seller will participate in SBA mandated seller financing.
Absentee Owner: Yes
Minority Owned: Yes
Reason for Sale:
Business has grown beyond expectations. Seller wants to focus on a smaller operation. Husband is planning on retiring upon sale.
Training:
Seller will provide 80 hours of included training/transition support within 90 days of transaction.
OperationsYear Established: 2011
Form of Ownership: LLC
Employees (full-time): 3
Employees (part-time): 2
Employees (contractors): 22
Managers: 1
Business Hours: 9-9 Mon-Fri Sat-Sun 9-8
Summary
Business Description:
High end spa offers top of the line services by experienced staff in popular location with designated parking for clients and staff. Seller stepped out of this location in July of 2017 to focus on smaller operation. Prior to July 2017 owner worked approximately 2 days at this location per week. Owners spouse spends ~10 hours per week and can be replaced for $92/month. This business sells an impressive amount of gift cards each year. Buyer and seller will work together to determine the most likely redemption ratios for non-expired outstanding gift cards and subtract from the purchase price. Seller owns other non-competitive small locations branded with different names and will continue to operate. Seller will sign a non-compete for three years inclusive of the client database system being transferred as of the date of service for this location.
Owner Qualifications:
No license required for ownership.
Competition:
This spa has a clear health and wellness approach which differentiates it from the competition. Repeat and loyal clients book sessions far in advance with the spas licensed and experienced skincare and massage therapy professionals.
Potential Growth:
Prices can be increased $10 to $15 per treatment to meet market. There is additional space available for 1-2 additional treatment rooms. Current owner has been approached multiple times by licensed injectable nurses to add med spa services.
LocationType of Location: Stand Alone
Real Estate for Sale: Yes
Monthly Rent: $4,750
Square Footage: 3000
Facilities:
$19/foot currently. Expect up to $26/foot. 3000 square feet. Parking lot is leased for $1,000/month. Lot lease is optional. The incremental rent has been deducted from the recast owner benefit.
Last Updated: Oct 4, 2018 / 4:29 AM
Financial Information Current as of: Oct 30, 2017 / 2:03 PM
Lender Pre-Approved!