Unisex Hair Salon And Spa In Essex 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 £495,898 pa with a net profit of £43,000. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited because the owners wish to start a new venture. .
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.

History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving well run Unisex hair Salon & Spa which has been established since 2007. The business has been in the hands of the current owners since inception and she now wishes to sell due to wanting to start a new business venture.

Services
This very good business opportunity provides hair stylists, manicure, pedicure, massage, facials & body wraps.

Staffing
The concern employs 16 staff. 10 are full time and 6 are part time. The total wage bill is £190,000. All staff would stay on after a sale.

Owners Role
The owners’ role is managing and working in the business on a full time basis

Marketing
The owner markets the business in Google and has a website.

Competition
As far as competition is concerned there is only one prominent hair salon nearby.

Market
The client base consists of business persons, professional persons, some tourists and the local community.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings.
• Increasing the product line to include on-line retail and mail order.
• Becoming more efficient with staffing levels.
• With an enhanced website.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required.

Financial Details
The present turnover is £495,898 per annum with a gross profit of £456,056 and a net profit of £43,000.00. The wages are £190,000. The present value of retail & professional stock is £25,000
The potential turnover of the business within the next 2 years is forecast to reach £695,000 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.

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 10 years with 6 years remaining. The rent is £35,000.00 pa with a review in 1 yr. The lease may be renewable or negotiable for longer term if required. The rates are £11,000.00

Leasehold rent:

£35,000 per annum

Location:

- Situated in Essex.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Surrounded by well populated residential area with schools and other local amenities.
- Local population consists of business persons, local community and tourists.
- Area offers exceptional lifestyle.
- Very good tourist trade.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with A134, A12 & B1022 and good railway links.

Premises details:

The property is terraced and is part of a parade of shops and is approximately 1800 sq ft x 1200 sq ft. on the ground floor and lower ground floor. The front is branded with an attractive glass front. The main customer service area has wooden flooring with shelving to the walls. It is very well presented and is very conveniently laid out. There is a reception area with 10 cutting stations, 3 wash basin units & colour preparation area with refreshment facilities for clients.

Lower Floor
The lower ground floor comprises of: - 3 treatment rooms, client shower, client relaxation area, toilet, staff facilities and a fully equipped kitchen.

Other information

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings.
• Increasing the product line to include on-line retail and mail order.
• Becoming more efficient with staffing levels.
• With an enhanced website.

Competition / Market:

As far as competition is concerned there is only one prominent hair salon nearby.

Support & training:

The owner would be available for an extensive training and handover period for the benefit of the new owners if required.

Reasons for selling:

Sale due to wanting to start a new business venture.

Trading hours:

Monday to Wednesday – 09.00am – 6.00pm
Thursday – 09.00am – 7.00pm
Friday – 09.00am – 6.00pm
Saturday – 0830am – 5.00pm

Furniture / Fixtures value:

£30,000 (included in the asking price)

Inventory / Stock value:

£25,000