Long Established Hair Salon In Bedford For Sale

Business description

Business Details
The particular highlights of the business are:
- The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
- A long established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £25,000 with a net profit of £15,000 (see financial summary below).
- A business with great potential which has not been exploited because the owner is of retirement age.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal for a hair stylist presently in employ.

History
Phoenix Business Transfer Agents are delighted to place onto the market this hair salon which has been established since 1968. The business has been in the hands of the current owner since inception and he now wishes to sell due to retirement.

Services
This very good business opportunity provides ladies and gents hair styling. The average cut is around £7 to £8.

Staffing
The concern employs 1 part time stylist who is self employed and works Saturdays only, taking 50% of her takings.

Owners Role
The Owner is a full time stylist.



Marketing
No marketing is undertaken for the business which relies on word of mouth.

Competition
As far as competition is concerned the nearest salons are in the town centre.

Market
The client base consists mainly of gentlemen of all ages although there are some female clients.

Opportunities
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 late nights.
• Increasing the product line to include more retail items.
• Promote ladies styling and also introduce beauty treatments.
• With the introduction of a website and e-commerce for products.

Training and Handover
The owner would be available for an extensive training and handover period 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.

Property Details
The property is terraced and is part of a parade of shops and is approximately 25ft x 25 ft. The front is branded with an attractive glass front. The main area has 5 workstations and is tiled. It is very well presented and is very conveniently laid out. There is an office area to the rear and staff facilities. There is also a hair wash basin.
There is also a large basement area which gives options for more space.

Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £10,000.

Financial Details
The present turnover is £25,000 per annum with a gross profit of 90% and a net profit of £15,000. The wages are £0 as the only staff member is self employed. The present value of the stock is £0.
The potential turnover of the business within the next 2 years is forecast to reach £100,000 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:

There is a new lease available with a rental of £10,000 pa. The rates are £880 per annum.

Leasehold rent:

£10,000 pa per annum

Location:

- Situated in town centre area of Bedford in Bedfordshire.
- Prominent location on main arterial road.
- Part of a small selection of businesses with Hotels and a Post Office nearby and Bedford College opposite.
- Excellent parking facilities directly behind the premises.
- Industrial estates nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area only down the road from the main shops.

Premises details:

The property is terraced and is part of a parade of shops and is approximately 25ft x 25 ft. The front is branded with an attractive glass front. The main area has 5 workstations and is tiled. It is very well presented and is very conveniently laid out. There is an office area to the rear and staff facilities. There is also a hair wash basin.
There is also a large basement area which gives options for more space.

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 late nights.
• Increasing the product line to include more retail items.
• Promote ladies styling and also introduce beauty treatments.
• With the introduction of a website and e-commerce for products.

Competition / Market:

As far as competition is concerned the nearest salons are in the town centre.

Reasons for selling:

Owner now wishes to sell due to retirement.

Trading hours:

Tuesday to Friday: 9.30 am to 5.30 pm.
Saturday: 9.30 am to 5.30 pm.
Sunday and Monday: Closed

Employees:

The concern employs 1 part time stylist who is self employed and works Saturdays only, taking 50% of her takings.

Years established:

42 Years

Other information

Support & training:

The owner would be available for an extensive training and handover period 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:

£10,000 (included in the asking price)