Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Modern Hair Salon
(Hair and Beauty , Hair Salon )
Ocean County , NJ
Listed Price: $ 149,900
Listing ID: SLN183

Listing DetailsGross Revenue: $ 232,000
Cash Flow: $ 107,000
FFE: $ 98,000 (Included in Price)
Reason for Sale:

Owner is retiring and relocating out of state.


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
Non-owner Payroll: $ 8,800
Employees: 5
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 3500
Monthly Rent: $ 3,000
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 33 year-old, highly successful hair salon consisting of an attractive single unit commercial condominium. This salon facility has a gross yearly income of $232,000 and a net income to the owner operator of $107,000. The business has been recently upgraded with an attractive image. The business also services a huge 55 plus adult community. 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. This wonderful hair salon 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 $8,800. The business transaction will include a new commercial lease which expires 2029-01-01, plus additional options available, with a monthly rent of $3,000, and rent security of approximately $3,500. This successful hair salon business operation is active five days per week, with hours from 8:00 am to 6:00 pm. The business has been valued / priced at $149,900 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, possible 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 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:


Available to qualified buyers.