|Multi-location Hair Salon|
NCListing DetailsOffice ID: SALON6
Listing Broker: Jeff Snell, M&AMI, LCBI, ABI
Listing Price: $3,000,000
Gross Revenue: $4,635,125
Cash Flow: $736,377
Inventory Included: Yes
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:Seller will participate in SBA financing up to 15%. Buyer will be required to have a minimum of 10% of total purchase price for down payment.
Minority Owned: Yes
Reason for Sale:Other interests
Training:Seller will provide up to 80 hours of transition assistance within the first 90 days of closing at no additional cost. Seller would like to remain a stylist.
OperationsYear Established: 2002
Form of Ownership: S Corp
Employees (full-time): 69
Employees (part-time): 6
Business Hours: 10am-8pm M 9sm-8pm T-F 9am-5pm Sat
Business Description:This popular chain of high end hair salons offer an extremely wide range of services including hair cutting, coloring, treatments, extensions, and blowouts. They also provide makeup and facial services. The company provides extensive training via a structured internally managed team. With approximately 7,000 online followers the business maintains an active social media presence. Other regular marketing activities include events at the salons, participation in charitable events and fundraisers, product demonstrations, product trainings and boot camps. As you would expect they retail the finest hair and related brands in the market.
Historical Summary:This award winning business, which was established originally approximately 15 years ago, has seen steady growth and is poised to continue. Starting with a single location the business currently operates multiple successful locations (exact number redacted for confidentiality reasons).
Owner Qualifications:Buyer could have hair industry experience, but it is not mandatory, The ability to work with and manage people (HR), general accounting and marketing experience a plus.
Competition:Clients have many options in this upscale community which is one of the fastest growing in the country, but this salon continues to grow and thrive as a result of its extremely loyal and talented stylists which have all executed non-compete agreements.
Potential Growth:This business could serve as a franchise proof of concept. With multiple locations, all of which are profitable, the model could be replicated in other markets. One location has the space to add ~5 stations and all could add hours on Sundays.
LocationType of Location: Strip Center
Monthly Rent: $21,978
Square Footage: 6600
Multiple locations total almost 6,600 feet. All are modern, clean and designed in such a way that is aesthetically pleasing and functional. Locations have adequate parking and are conveniently located.
Last Updated: Nov 30, 2018 / 10:55 AM
Financial Information Current as of: Oct 16, 2018 / 1:51 PM