||Employees||6 full, 2 part
* Included in Asking Price
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!
List Price: $158,000
Client Mix: 80% women and 20% men
Services Offered: Hair, Waxing, Natural Nails, and Spray Tans
Owner Profit/Cash Flow
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
*amounts may vary
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
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|
Seller Reference #BEA010
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