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High Volume Hair Salon For Sale

9/wk
Ocean County, New Jersey, United States
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Asking Price$150,000
Revenue$420,000 Established1992
Cash Flow$70,000 Employees15 full-time
FF&E$110,000* FranchiseNo
Inventory$1,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Wonderful business opportunity to own this high volume thirty-five-year-old hair salon in central/southern New Jersey, in an affluent area of Ocean County. The business has a gross income of $420,000 and a net yearly income of $70,000 to the owner operator. The owner is retiring after many successful years and all the business. Gross sales are generated from the various hair stylists and not the owner. The salon has a personal commitment providing their clients with the very best, from product to service, it’s their love and passion for hair and beauty that sets them apart. Along with the necessary skills to give their clients exactly what it is they are seeking, their team of stylists always listen, are energetic, and ready to offer advice and suggestions when asked. Their full range of services include haircuts, styling, coloring, highlights, lowlights, perms, body waves, evening styles, Up Do’s, conditioning treatments, color correction, and additional information can be found throughout their website. This industry requires state government approval to operate. This business has fifteen full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $22,800. The various hair stylist, as per the industry, are paid a percentage of their gross sales. This sale transaction will offer a new commercial lease which will expire 12/31/2022 plus additional options, with a monthly rent of $6,949 and rent security $15,000, cost per square foot is $43.15. The salon is in a highly successful commercial mall, consisting of 2,000 square feet and has a capacity for approximately forty-five customers. The business assets have an estimated value based on replacement cost of approximately $110,000 which consists of a fully equipped commercial hair salon including various work stations, sinks, 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 mall parking on site as part of the commercial lease. The business is active seven days per week, with hours from 9:00 am to 8:00 pm, shorter weekend hours. The sale includes the New Jersey state salon license, a certificate of occupancy from the particular municipality and the required state licenses to conduct its day to day business. The business has been valued at $150,000 based on a multiple of the net yearly income which includes the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a wonderful dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.
Facilities:Well maintained attractive retail facility consisting of 2,000 square feet in a highly active up to date commercial mall. The facility has a wonderful image with a pleasant appearance. The location has various other active and successful businesses which attract many daily workers and customers. This opportunity is in central New Jersey, Ocean County, which consists of many affluent communities with continued demand for this personal service.
Competition:To the best of our knowledge, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth Potential:The business presently has a poor marketing plan and no web site, and if improved can result in an increase to the gross sales to the owner. Additionally, the facility requires redecorating to further develop the salon.
Training/Support:The owner will remain post-closing for thirty days to supply an appropriate transitional period to the new operator.
Seller Financing:May be considered to a qualified buyer.
Sale Reason:The owner is retiring after forty years of success in this industry.
Ad #99970
Seller Reference #SLN159
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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