A long-established salon which has been owned by our clients for in excess of 23 years but has been trading as a hair salon long before that. The business has built up a good reputation with a loyal and regular clientele which is supported by a 4.8* Google Review. Currently arranged to provide 5 cutting stations and 2 backwash basins in the main salon area with a stock room to the rear. Good established turnover which leaves a lot of scope to increase further by increasing the trading days and times in addition to employing more members of staff. Viewing recommended.
Location
The premises is situated within an established parade of shops benefitting from free time-restricted layby parking to the front and all along the road the premises is situated on. The premises is surrounded by a vibrant mix of independent and big-name traders, including Co-op, Spar and a card shop to name a few.
Tenure
New lease available for a term to be agreed, with our client's current rent paid at £6,000 per annum exclusive.
Premises
An end of terrace retail shop with glazed frontage, fascia board and single glazed entrance door leading into the premises which measures approximately 436 sq. ft and is arranged as follows:
MAIN SALON AREA with suspended ceiling, paneled lighting, customer seating, counter and currently arranged for 5 cutting stations, 2 hood dryers, 2 backwash basins and product display shelving. A door at the rear of the main salon area leads into a STOCK ROOM with shelving, fridge, dishwasher, hot water dispenser and small store cupboard with tumble dryer. WC.
Staff & Trading Hours
The business is run by two clients, one doing the admin side of the business with the other working as a stylist within the business, assisted by one full-time and one part-time member of staff. Tuesday to Saturday 9 am to 5 pm. Closed Sunday and Monday.
Turnover
Turnover averages approximately £1,250 per week working to the usual high gross profit margins associated with the trade. The last set of pre-COVID accounts confirm a turnover of £65,231 with a net profit of £19,535. Prior years have had similar levels of turnover, with profitability up to circa £32,000. Huge scope to increase this turnover by extending the trading days and times in addition to employing more members of staff to utilize all cutting stations.
Business Rates
The premises is subject to a ratable value of £3,750 resulting in zero business rates payable should small business rate relief apply to a purchaser.
Legal Costs
Each party to be responsible for their own, with the landlord's legal costs for the surrendering of the existing lease to be the responsibility of the vendor and the landlord's legal costs involved in the granting of the new lease to be the responsibility of the purchaser.
Summary
A very long-established hair salon that has come to the market with a genuine reason for sale. Established turnover from regular clientele, which leaves a lot of scope to increase further. Viewing recommended.
Disclaimer
Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.
