Lucrative West End Style Barbers In West Wickham For Sale

Business description

Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £63,000 with a net profit of £57,000 (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for couple or partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation with a large client base.
- The concern provides gentlemen’s traditional barbers with a very modern twist to attract both young and old.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Lucrative West End Style Barbers which has been established since 2009. The business has been in the hands of the current owner since inception and now wishes to sell due to personal circumstances.

Services
This very good business opportunity provides a gentleman’s traditional barbers with a very modern twist to attract both young and old.

Staffing
The concern employs 3 self employed staff on a commission base (chair rental).

Owners Role
The owner is involved in the day to day running of the business.

Marketing
The owner markets the business in the ‘Good Barbers Guide’, local newspaper and will have a web site shortly. They are also looking at “Facebook” advertising in the near future.

Competition
As far as competition is concerned there is another similar business some 2 miles away.
There is no local competition.

Market
The client base consists of locals and passing trade.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increasing the product line to include ladies hairdressing.
• With the introduction of a website.
• The premises is large enough to include more chairs.
• Open as a unisex salon.

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. The front is branded with an attractive glass front. There are manual shutters and a CCTV system. The main customer service area has wooden flooring. It is very well presented and is very conveniently laid out.

To the rear is a large office. There is a toilet, staff facilities and a fully equipped kitchen.

EXTERNAL
To the rear there is parking for 2 cars.

EQUIPMENT WITH SALE
All fixtures, fittings and equipment are included in the sale price and are valued at £28,000.

FINANCIAL DETAILS
The present annual turnover is £63,292 with a gross profit of 88% and a net profit of £57,000. The wages are commission based. The present value of the stock is £1,000.
The potential turnover of the business within the next 2 years is forecast to reach £140,000 pa 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.


Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 3 years with 3 years remaining. The rent is £12,420 pa with a review in 3 years. The lease may be renewable or negotiable for longer term if required. The rates are £1,100.

Leasehold rent:

£12,420 pa per annum

Location:

- Situated in the busy shopping area of West Wickham.
- Prominent location on main road.
- Part of a parade of shops in the local shopping area.
- Excellent parking facilities.
- Industrial estates nearby.
- Surrounded by a 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 with restaurants, pubs and shops.
- Well linked with central London by bus and train.
- The main line station is less than a mile away.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The property is terraced and is part of a parade of shops. The front is branded with an attractive glass front. There are manual shutters and a CCTV system. The main customer service area has wooden flooring. It is very well presented and is very conveniently laid out.

To the rear is a large office. There is a toilet, staff facilities and a fully equipped kitchen.

EXTERNAL
To the rear there is parking for 2 cars.

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 including local and internet advertising.
• Increasing the product line to include ladies hairdressing.
• With the introduction of a website.
• The premises is large enough to include more chairs.
• Open as a unisex salon.

Competition / Market:

As far as competition is concerned there is another similar business some 2 miles away. There is no local competition.

Reasons for selling:

Owner wishes to sell due to personal circumstances.

Trading hours:

Monday to Saturday: 9.00 am - 7.00 pm.
Thursday: 9.00 am - 8.00 pm.
Sunday: 10.00 am - 4.00 pm.

Employees:

The concern employs 3 self employed staff on a commission base (chair rental).

Years established:

Established since 2009

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:

£28,000 (included in the asking price)