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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Modern Hair Salon
(Hair and Beauty , Hair Salon )
Morris County , NJ
Listed Price: $ 99,900
Listing ID: SLN176

Listing DetailsGross Revenue: $ 108,265
Cash Flow: $ 67,438
FFE: $ 75,000 (Included in Price)
Inventory: $ 5,000
Reason for Sale:

The owner is retiring after many years of success in this service industry.


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if available the seller may be available to remain on a part time basis.


OperationsYear Established: 1988
Days & Hours of Operation: Tues.-Sat. 9am-6pm
Employees: 3
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 2500
Monthly Rent: $ 1,819
Square Footage: 970
Facilities:

This wonderful business opportunity is in Northern New Jersey, orris County, which consists of various affluent and highly populated communities with continued demand for this particular service. This long standing and highly successful salon consist of a retail facility of approximately 1,200 square feet with an attractive appearance. The business is in a mid-size commercial mall with numerous other active and successful businesses.


SummaryBusiness Description:

Excellent business opportunity to own a profitable salon in an affluent area of Morris County, with a consistent income. This highly successful premier hair salon provides a strong emphasis on cutting edge artistry with first class guest services. They do their very best to stay abreast of the newest trends while being able to translate them into workable styles, running the spectrum from the uptown business person to the young and trendy downtowners. Their versatility combined with focus on outstanding customer experience makes every guest feel unique. They believe their customers are more than just the service to hair. The salon is located in a convenient mall on a county road and provides a variety of salon services, including hair styling, cutting, highlighting and coloring. Lots of private parking is available. The business transaction has an assignable commercial lease which expires 01/01/2024, plus additional options are available, with a monthly rent of $1,819 all in, cost per square foot is estimated at $22.50 and rent security of approximately $ 2,500. The business fixed assets has an estimated value of approximately $75,000 which is based on the value of the original equipment, licensing, buildout replacement cost, tangible & nontangible, in addition to the multiple of the existing net yearly income. This wonderful salon business operation is active five days per week, with hours from 9:00 am to 6:00 pm, plus evening hours, closed Sunday and Monday. 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. 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.


Competition:

Regarding competition, to the best of our knowledge, no other new competitors are expected near to this business and 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 with an improved marketing plan and local advertising, a web site and if instituted can further develop the business yearly gross sales.


Financing/Terms:

Can be considered to a qualified buyer with an appropriate down payment.