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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Hair Salon and Spa
(Hair and Beauty , Hair Salon )
Middlesex County , NJ
Listed Price: $ 150,000
Listing ID: SLN171

Listing DetailsGross Revenue: $ 327,000
Cash Flow: $ 33,000
FFE: $ 75,000 (Included in Price)
Inventory: $ 2,500 (Included in Price)
Reason for Sale:

The sale is due to the owner is retirement after many years in this industry.


Training & Support:

If requires the owner is prepared to remain post-closing to supply an appropriate transitional period to the new owner / operator. Also, if required the seller will supply additional training at a fair cost to the purchaser.


OperationsYear Established: 2011
Days & Hours of Operation: Tues.-Sun. 9am-8pm
Non-owner Payroll: $ 8,973
Employees: 12
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 18000
Monthly Rent: $ 7,041
Square Footage: 2614
Facilities:

The facility which consist of approximately 2,614 square feet plus basement, has a modern professional appearance and is in a mid-size commercial mall with various other active retail businesses. This opportunity is in Northern New Jersey, Middlesex County, which consists of various affluent and highly populated communities with continued demand for this personal industry.


SummaryBusiness Description:

Wonderful business opportunity for this successful full-service hair salon and spa located in a most convenient area of Northern New Jersey, Middlesex county. The salon has a gross income of $327,000 and offers all the required personal services to their customers. The owner has now elected to retire and has set the price very aggressively. This salon has a wonderful reputation and does it all, their cuts will make your hair look healthy, smooth, and thicker by getting rid of broken and damaged hair, as well as split ends. Also, of importance is their maintenance cuts which will prevent your split ends from further splitting. If styling is not your thing, a shorter, low-maintenance look might be something for you! They will cut your hair into any requested style; because their focus has always been and will always be to make their clients feel and look gorgeous with a new cut as you leave their salon. This salon offers the ultimate hair color experience with heathy ingredients you can feel good about. This service industry requires New Jersey State government licensing approval to purchase or operate. This company has twelve full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $8,973. The employees consist of hair cosmetologist, nail techs, massage therapists, esthetician, etc. The business has an assignable commercial lease which expires 2032-01-01, plus additional options, with a monthly rent of $7,041 all in, cost per square foot is estimated at $30.98 and rent security of approximately $18,000. The business fixed assets has an estimated value of approximately $75,000 which is based on equipment and licensing replacement cost. This successful salon spa business operation is active six days per week, with hours from 9:00 am to 8:00 pm. The business has been valued / priced at $150,000 based on a multiple of the net yearly income which includes the value of the specific business assets. Also, seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.


Competition:

To the best of our knowledge, it is our understanding, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

The business presently has a limited marketing plan, basic poor web site which has not been optimized and if improved can further develop the business yearly gross sales.


Financing/Terms:

Is available to a qualified buyer.