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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Attractive Salon
(Hair and Beauty , Hair Salon )
Bergen County , NJ
Listed Price: $ 175,000
Listing ID: SLN162

Listing DetailsGross Revenue: $ 248,000
Cash Flow: $ 78,000
FFE: $ 85,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The sale is due to the owner is 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.


OperationsYear Established: 2015
Days & Hours of Operation: Five days p/wk. 9am-6pm
Non-owner Payroll: $ 10,000
Employees: 10
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 10000
Monthly Rent: $ 5,600
Square Footage: 2500
Facilities:

This modern facility which is approximately 2,500 square feet and consist of three floors has various rooms for separate services. The business which is a single-family building is on a commercial avenue just off a major state highway. This opportunity is in Northern New Jersey, Bergen County, which consists of various affluent and highly populated communities with continued demand for this industry.


SummaryBusiness Description:

Pleasant attractive salon located in Northern New Jersey just off a major state highway, in an active affluent community of Bergen County. This full-service salon offers the highest quality personal assistance to their many clients. The staff understands individuality is never achieved from templates and factory-like treatment. Their philosophy is a high-quality hair design should match your style, and the results are reflective of your personality and unique beauty. They do their best to work with eco-friendly products that will guarantee remarkable results with sustainably products. Their cutting-edge hair salon works on all types of hair, whether you’re visiting for a trim, balayage or a completely new hairstyle, they will make sure you achieve the look you’re after and relax, unwind in their comfortable environment. They take great pride with their ability to cater to the needs of their diverse clientele, which includes busy parents, business professionals, students, young adults, fashionistas and everyone in between. Their focus is on their client’s needs and are very adaptable with their approach to hair. Whether you’re a man or woman with thick, wavy, straight, curly or thinning hair, they welcome you into their salon as they routinely work with every hair type! For Qualifications purposes, this industry requires New Jersey State government licensing approval to operate. This hair salon company has ten full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $10,000. The business has an assignable commercial lease which expires 2025-01-01, plus additional options, with a monthly rent of $5,600, cost per square foot is estimated at $22.00 and rent security of approximately $10,000. The business is in a free stranding commercial facility, on an active county road, consists of approximately 2,500 square feet and has an estimated capacity for thirty customers. The salon has multiple chairs for separate services as a full-service salon. The business fixed assets has an estimated value of approximately $85,000 which is based on equipment and licensing replacement cost. This transaction consists of a fully equipped commercial salon, which includes, required licenses, web site, social media venues, displays, shelving, POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private parking on site as part of the commercial lease. This successful full-service salon business operation is active five days per week, with hours from 9:00 am to 6:00 pm. The sale includes all required documentation including a certificate of occupancy from the local municipality and the required state or city licenses to conduct its day to day business. The business has been valued / priced at $175,000 based on a multiple of the net yearly income which includes the value of the specific business assets. Also, seller / bank 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 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 presently has a limited marketing plan, no local advertising, poor web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

May be available to a qualified buyer with an appropriate down payment.