Upscale Hair Salon In Chicago West Suburbs Near Oakbrook For Sale

Business description

This 3,100 sq ft Salon is located in a busy Shopping Center on a very busy road near Oak Brook, Illinois. This
shopping center is extremely busy, partially due to the fact it has some major tenants attracting plenty of
customers. Another important detail is that there are more than 31,700 cars driving by the front door each day.
There's also very little competition in the area.

This unit was a Salon for many years. The previous owner spent approximately $250,000 building out the
space from scratch. When his lease was up, he moved to another location. The current owner owns the
property and decided to purchase new equipment, remodel and reopen the salon under a different name, for
his wife. Now that the salon is open and profitable, they want to sell it to somebody who has the time to
manage and operate the business. They spent approximately $100,000 on new equipment and light remodeling,
earlier this year. The salon has 10 cutting stations & 4 washing stations, with room to add 4 additional cutting
stations.

This is an Aveda Salon and all employees were trained by Aveda. There are no franchise fees and there's no
contract with Aveda. The only thing you have to do to maintain the "Aveda" status and use the name is to
carry Aveda products. The Salon also has a really nice website.

Property information

Real Estate:

Lease

Premises details:

The rent is $2,900/month. The store size is +/-3,100 sq ft. There is more than enough parking. The length of the lease is negotiable.

Business Operation

Expansion potential:

This business has a tremendous amount of potential to increase sales. For starters, the current owner is only working part-time. The salon is closed on Sundays and Mondays and closes early on Saturday. The shopping center is very busy on the weekends, so expanding the hours of operation would help increase sales dramatically. Also, they are not doing much advertising at all. An owner/operator could be putting fliers and coupons on cars in the parking lot, sending out mailers, and cutting a deal with the major retailers next door, etc.

Other information

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Owner might consider financing a small portion of the purchase price for qualified buyer.

Furniture / Fixtures value:

$119,000 (included in the asking price)

Inventory / Stock value:

$5,500