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Asking Price$116,000
Revenue | $170,700 |
Established | 2012 |
Cash Flow | $63,839 |
Employees | 6 full, 2 part |
FF&E | $58,089* |
Franchise | No |
Inventory | $3,000* |
Relocatable | No |
Real Estate | Undisclosed |
Home-based | No |
* Included in Asking Price
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Revenue generating from booth renters and commissioned stylists this Salon is doing 80% women and 20% men services for a Revenue of $171,224 in 2014. The business has a 37% Profit Margin, allowing the Owner’s Profit to be $63,839 for 2014. Providing services such as haircuts, color, styling, waxing, natural nails, and spray tans – the business serves to a west suburb of Omaha where the average household income is $79,506/year. The current Owner is scheduling the staff, overseeing daily salon needs, ordering, and is servicing a client base - the reason she is selling is due to family obligations however is willing to train and transition for 90 days post-close as well as stay on as a Stylist if the Buyer should desire. This Salon has a large database of 1,813 clients, 481 of them within just the last 6 months! The staff, which includes, 2 commission-based stylists, 4 booth renting stylists, and 2 part-time receptionists provide service to their current client base however there is room for growth; there is space to hire two more stylists on commission which would nearly double income. As well as add an onsite nail technician to increase revenue as well!
Financial Overview List Price: $158,000 Gross Sales 2014: $171,224 2013: $160,888 Client Mix: 80% women and 20% men Services Offered: Hair, Waxing, Natural Nails, and Spray Tans Owner Profit/Cash Flow 2014: $63,839 Profit Margin: 37% Multiple: 2.5 *Multiples range from 1-5, with the average being 3 Valuation: 2014 Cash Flow x Multiple = Price $63,839 x 2.5 = $159,598
Assets Included in Purchase: $61,089 Equipment: $58,089 = Build-Out for Reception, Tanning, Nails, Makeup, Stylists, Shampoo Station, and Breakroom Inventory: $3,000 *amounts may vary Business Information Year Established: 2012 Location and Service Area: West Suburb of Omaha, Nebraska Average Household Income: $79,506/year Number of Clients: 1,813 in database [481 in the last 6 months] Lease: $1,910/month for 1,834 sq./ft. with 8 modern feel & look, open stylist stations Reason for Selling: Family Obligations Employees: 2 commission-based stylists, 4 booth renting stylists, 2 part-time receptionists Hours: Open Monday - Saturday Seller Training Period: 90 days, would be willing to stay on as a Stylist post-closing Growth Opportunities: Space to hire two more stylists on commission which would nearly double income. Add an onsite nail technician Current Owner’s Responsibilities: Schedules staff, oversees daily salon needs, orders, and services a client base
Funding Example Purchase Price: $158,000 15% Buyer Down Payment: $23,700 15% Seller Financing: $23,700 70% Bank Loan: $110,600 An SBA Express Loan could be an option due to the loan amount needed being under $250K!
Facilities: | Lease: $1,910/month for 1,834 sq./ft. with 8 modern feel & look, open stylist stations |
Growth Potential: | Space to hire two more stylists on commission which would nearly double income. Add an onsite nail technician |
Training/Support: | 90 days, would be willing to stay on as a Stylist post-closing |
Seller Financing: | 15% Seller Financing: $17,400 |
Sale Reason: | Family Obligations |
Ad #78589
Seller Reference #BEA010
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