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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Premier Hair Salon
(Hair and Beauty , Hair Salon )
Morris County , NJ
Listed Price: $ 99,900
Listing ID: SLN181

Listing DetailsGross Revenue: $ 108,265
Cash Flow: $ 67,438
FFE: $ 75,000 (Included in Price)
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, Morris 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 970 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. Regarding employees and payroll, this salon consists of 3 full / part time employees who are unaware of the pending sale. The payroll is primarily based on a percentage of production which is standard in this industry. Additionally, two of the staff consist as working salon tenants who rent their chair at a weekly cost of $225 & $125. Also, the staff is fully expected to remain post-closing, and the monthly payroll expense will be supplied upon request. 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. 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. 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 the photo does not represent this particular business opportunity.


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.