Price: $175,000
Location: Middlesex , New Jersey
Industry: Salon
Listing ID: SLN247
Full-service unisex Barber Shop & salon located in a wonderful area of Northern New Jersey and in Middlesex County. Prior to the pandemic the company had a gross income of $372,151 and a net yearly income of $78,000. This barber business offers all the required personal services to their customers. They are a full-service Barber shop / salon, representing 70% of male customers and 30% women. With their incredibly talented staff they have been providing clients with the best quality professional service for many years. They have a wonderful reputation for high-end quality service that provides dependable beauty and wellness. The company has a personal commitment to providing their clients with the absolute best, from product to service, it is their love and passion for hair and beauty that sets them apart. Along with the necessary skills to give their clients exactly what they are seeking, their team always listen, are energetic, and ready to offer advice and suggestions when asked. Our hair is a form of expression and style, and like a piece of art, our hair is a canvas. We are inspired by the poetic beauty of hair and the dynamic fashion industry that surrounds us. Their goal is to provide their customers with great service and a wonderful experience by adding new organic and natural products that are not only good for your skin, but also good for the environment. 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.
Listing Details
Revenue: $372,151
Cash Flow: $72,000
FFE: $85,495 (Included in Price)
Inventory: $3,000 (Included in Price)
Form of Ownership:
c corp
Reason For Sale:
The purpose of this business transaction is due to the owner’s retirement after many years in the salon industry.
Training & Support:
Training and owner support, the owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Operation
Year Established: 1988
Days & Hours of Operation: Days Hours of operation, this popular barber shop is active six & ½ days per week, with hours from 9:00 am to 7:00 pm, and some evening hours.
Owner Hours Per Week: Part time
Non-Owner Payroll: $14,997
Employees: Regarding employees and payroll, this Barber shop consists of Nine barbers / hair styles who are unaware of the pending sale. The payroll is primarily based on a 60/40% split percentage for each transaction, 60% for the operator. The staff is unaware of the pending sale & fully expected to remain post-closing, and the monthly payroll expense is approximately $15,025.
Location
Security on Lease: two months
Lease Option: New lease.
Monthly Rent: 4,300
Type of Location: Commercial in active mall.
Square Footage: 1955
Relocatable?: Yes
Facilities Information:
This long-standing hair salon consists of approximately 1,450 square feet with a modern and professional appearance. The business is located at a highly active commercial mall with numerous daily shoppers and many other active retail businesses. This opportunity is in Northern New Jersey, Middlesex County, which consists of a highly populated urban city with continued demand for this industry.
Summary
Historical Summary:
This is a twenty-year-old full-service Barber Shop Salon.
Owner Qualifications:
For Qualifications purposes, this business opportunity and industry requires New Jersey State government licensing approval to operate (not to purchase) in addition to the standard required municipal licenses.
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 with the purchaser.
Potential Growth:
Regarding growth and expansion, the business opportunity can be further expanded by the new operator by improving the marketing plan and the local advertising. Additionally, the company has no web site and if adjusted it can further develop the business yearly gross sales.
Financing/Terms:
owner financing is available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
