Superbly Located Leasehold Ladies Hair Salon In Reading For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £37,000 pa with a net profit of £5,764 (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- An excellent first time buyers business
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides ladies hairdressing.

History
Agents are delighted to place onto the market this Leasehold Ladies Hair Salon which has been established since 1982. The business has been in the hands of the current owner since 1982 and she now wishes to sell due to genuine retirement.

Services
This very good business opportunity provides ladies hairdressing.

Staffing
The concern employs 2 part-time staff and the wages are £13,760.

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

Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.

Competition
There is no local competition.

Market
The client base consists of local residents and is surrounded by a densely populated residential area with good volumes of 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 and local and internet advertising.
• Increasing the opening hours to include weekday afternoons, Saturday afternoon and Monday trading.
• Increasing the product line to include beauty treatments including a nail bar.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.

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.


The present annual turnover is £37,232 with a net profit of £5,764. The wages are £13,760. The present value of the stock is £500.
The potential turnover of the business within the next 2 years is forecast to reach £74,000 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 13 years with 2 years remaining. The rent is £5,675 pa with a review in 2013. The lease may be renewable or negotiable for longer term if required. The rates are £528 pa.

Leasehold rent:

£5675pa per annum

Location:

- Situated in the Whitley area of Reading in Berkshire.
- Prominent location on main arterial road.
- Part of a small parade of shops.
- Excellent free parking facilities nearby.
- 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.
- Well linked with the A327, A33, B3033, M4 and A4.
- Reading Town Centre, Caversham, Tilehurst and Wokingham all lie close by.
- Area enjoying much growth and regeneration.
- Excellent local demographics for this type of area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 250 sq ft. The front is branded with an attractive glass front. There are electric shutters. The main customer service area is tiled. It is very well presented and is very conveniently laid out.

To the rear is a store room. There is a toilet and staff facilities.

Size in square feet:

250sq ft

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 weekday afternoons, Saturday afternoon and Monday trading.
• Increasing the product line to include beauty treatments including a nail bar.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.

Competition / Market:

There is no local competition.

Reasons for selling:

she now wishes to sell due to genuine retirement.

Trading hours:

Tuesday to Saturday 7.30am-1.30pm
Sunday to Monday: Closed

Employees:

The concern employs 2 part-time staff and the wages are £13,760.

Years established:

29 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:

£2,000 (included in the asking price)

Inventory / Stock value:

£500