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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Hair Salon & Property Option
(Hair and Beauty , Hair Salon )
Listed Price: $ 169,000
Listing ID: SLN173

Listing DetailsGross Revenue: $ 315,000
Cash Flow: $ 110,000
FFE: $ 98,000 (Included in Price)
Inventory: $ 2,500
Reason for Sale:

Owner is retiring and relocating out of the state of New Jersey.


Training & Support:

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


OperationsYear Established: 1986
Days & Hours of Operation: Tues.-Sat. 8am-6pm
Non-owner Payroll: $ 4,125
Employees: 5
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 3500
Monthly Rent: $ 2,041
Square Footage: 1623
Facilities:

This successful retail facility which consist of multiple floors, approximately 1,623 square feet has a modern and attractive professional appearance. The business is in a mid-size commercial mall with various other active and successful businesses. This opportunity is in central New Jersey, Ocean County, which consists of various highly populated communities with continued demand for this industry.


SummaryBusiness Description:

Modern thirty-two-year-old highly successful hair salon with an option to purchase the building consisting of a single unit commercial condominium. This salon facility has a gross yearly income of $315,000 and a net income to the owner operator of $110,000. The business has been recently upgraded with an attractive image. The business also services a huge 55 plus adult community. Regarding employees and payroll, this wonderful hair salon company has five full / part time employees who are unaware of the pending sale. The payroll is primarily based on a set payment and commission, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $4,125. The business transaction has an assignable commercial lease which expires 2023-01-01, plus additional options available, with a monthly rent of $2,041, cost per square foot is estimated at $15.09, and rent security of approximately $3,500. The business fixed assets has an estimated value of approximately $98,000 which is based on the original equipment and licensing buildout & replacement cost. This successful hair salon business operation is active Tuesday-Saturday, with hours from 8:00 am to 6:00 pm. 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. Additionally, based on the purchase of the real estate, 25-year payout at 7% interest, approximately 20% down payment purchaser would expect to obtain a consistent net yearly income return on investment after debt service. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.


Competition:

Regarding competition, to the best of our knowledge, due to various circumstances, 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 can be further expanded by the new operator, the salon presently does not have a marketing plan, no local advertising, no web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

Can be available to a qualified buyer.