Leasehold Hair Salon Oxford For Sale

Business description

The particular highlights of the business are:
• Ideally located concern offering excellent lifestyle.
• A well established business.
• Good loyal clientele.
• Fully equipped business with favorable lease terms (see below).
• Turnover in excess of £60,000 with a net profit of £22,800. (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because workload and time constraints. .
• An easily run operation.
• Good loyal well trained staff.
• A good first time buyers business.

Phoenix Business Transfer Agents are delighted to place onto the market this hair salon which has been in the owners possession since January 2007. He now wish to sell due to him wanting to move back home.

This very good business opportunity provides hair and beard trimming / cutting as well as shaving.

The concern employs one full-time member of staff and one part-time member of staff.

The owners’ role is very hands on and he works full time.

The owner markets the business in the yellow pages with a small amount of local advertising.
As far as competition is concerned there is another hair salon just down the road however, they tend to concentrate on women’s styling only.

The client base consists of men and women of all ages and from all backgrounds.

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include opening later during the week
• Increasing the product line to include women’s hair products as well as women’s beauty and styling
• With the introduction of a website and e-commerce.
• Increase in prices

The owner would be available for a business familiarisation period of one week for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Financial Details
The turnover for 2008 was £60,000 and a net profit of £22,800. The present value of the stock is £250 and the fixtures fittings and equipment are worth £5,000.The potential turnover of the business within the next 2 years is forecast to reach £90,000+ given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 5 years with 3 years remaining. The rent is £7,200 per annum.

Location:

This superb business opportunity is situated in Littlemore, Oxford, Oxfordshire. It Is just off a main arterial road and enjoys much traffic flow and there is a good foot flow of pedestrians. There is a residential area surrounding the property and it is within a commercially thriving part of the area. There is ample free parking nearby.

The area attracts many shoppers who use the area on a daily basis and there are many local facilities including banks and many other retailers. There are also busy industrial estates nearby.

The location is well linked with the A4074 and A34 providing links to the M40 and M4. The Oxford Railway Station is approximately 4 miles away. The business has clientele from a 5mile radius. The locale offers a good lifestyle opportunity.

Premises details:

The property is terraced and is part of a parade of shops and is approximately. The front is branded with an attractive glass front. There are manual shutters. The main customer service area is laminated with three work stations against the wall and a hair washing station to the rear. It is very well presented and is very conveniently laid out.
To the rear is a toilet and staff facilities and a kitchen.

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include opening later during the week
• Increasing the product line to include women’s hair products as well as women’s beauty and styling
• With the introduction of a website and e-commerce.
• Increase in prices

Competition / Market:

As far as competition is concerned there is another hair salon just down the road however, they tend to concentrate on women’s styling only.

Trading hours:

The business operates Monday, Wednesday and Friday 9:00am – 6:00pm, Thursday 9:00am – 7:00pm and Saturday 9:00am – 5:00pm.

Employees:

The concern employs one full-time member of staff and one part-time member of staff.

Years established:

Over 2 years

Other information

Support & training:

The owner would be available for a business familiarisation period of one week for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Furniture / Fixtures value:

£5,000 (included in the asking price)

Inventory / Stock value:

£250 (included in the asking price)