Profitable Hair Salon in High Traffic Location

$149,000.00

 

SEEKING - $149,000

Exceptional revenue, location and reputation create a unique opportunity for an owner seeking a business with work life balance and capacity for growth. Consistent returns and loyal well trained staff.

REVENUE - $331,000 pa (FYE 2016/2017)

RENT - $50,000 pa

NET PROFIT TO OWNER -  approx $100,000 pa

LOCATION - Northern Beaches

POTENTIAL - Ideal for an owner operator seeking a solid investment with capacity for growth. Residential and commercial redevelopment in the area plus a new base hospital will deliver increased high net worth demograph.

RECOMMENDED SKILLS - This would suit someone with hair dressing experience, and the owner is willing to work with the new owner for a period to ensure the continued success of the salon and owner.

LEASE - 3.5 + 4 option

EMPLOYEES - 1x full time Stylist 2x Part Time 1x Full Time Apprentice

REASON FOR SALE - Other commitments

ABOUT THE BUSINESS - This salon is well respected in the local area and is one of two ‘street front’ salons in the shopping village, a major commercial hub, servicing a large, high net worth demograph. It is well serviced by public transport and has ample access to parking. Whilst the salon gets excellent foot traffic, the extensive redevelopment of the area to include more medium density living and the addition of a new major base hospital in close proximity to the salon will provide increased traffic and opportunity. The salon has a modern fit-out and there is nothing to spend, as the owner has undertaken ongoing, regular improvements to enhance the atmosphere for its clients. The lease is attractively priced and the landlord can be considered as business friendly. Over 11+ years the owner has increased revenue and maintained strong profitability. Mid year financials show a significant increase in gross revenue of around 80% on the same period last year and there is capacity for yet greater increases. Importantly the owner is not pivotal to the business and does not work full time, being responsible for approximately 10% of turnover. She has empowered staff to do great work and delight clients with a work environment and remuneration structure that is enviable in this industry. As such the staff retention is excellent. For a new owner, it also means that the hard work of attracting and retaining staff has been done and you just need to add your own energy and passion to the business.  The salon operates a leading salon software system that enables it to manage staff and client schedules with ease, facilitating greater productivity. 

BACKGROUND - The salon was started 11+ years ago by the current owner who has consistently grown the business over this time, offering the full range of cutting and colouring services.

CONTACT - Call Andrew Hall 0414 996 490 or email ahall@hubbusiness.com.au to discuss the opportunity or receive more details.

SKU: 10002
 

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