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RETIREMENT SALE AFTER 43 YEARS SUCCESSFUL TRADING -PRICED FOR QUICK SALE - GOOD CLASS HAIRDRESSING SALON - OFFICE - TWO BED FLAT - ATTRACTIVE GRADE II LISTED PROPERTY - TOWN CENTRE LOCATION IN BUSY PEDESTRIANISED STREET WITH CHARACTER - HISTORIC COUNTRY TOWN IN WYE VALLEY - CLOSE TO WELSH BORDER - COMPANY / SHARE SALE - SUPERB NET-PROFIT
Well Established Hairdressing Salon situated in a delightful pedestrianised street occupied by a wide variety of shops and benefitting from high footfall. Serving a well sought surrounding area in a bustling historic market town close to the Welsh border.
The salon has operated very successfully under the same ownership for more than 43 years and has developed a good regular clientele. Now for sale as vendor wishes to retire.
GROUND FLOOR: Traditional Double Fronted Salon (circa.850sq.ft.) smart fitted in open plan.
FIRST, SECOND & THIRD FLOORS: Office. Sunshower Tanning / Beauty Room. Hospitality Kitchenette. Clients Cloakroom. Staffroom. Laundry Room. Storage Room.
FOURTH FLOOR: Excellent Self-Contained Flat with separate entrance from rear and decorated to a high standard (currently vacant):- Living Room. Kitchen. Two Bedrooms. Cloakroom.
OUTSIDE: Rear access leading onto very large town centre public parking.
Business: We are advised that Takings averaged around £5,500 on a five-day week (ex VAT) with very high levels of profit before Lockdown. The salon has re-opened since the easing of Covid restrictions and, we are informed, turnover has increased considerably and about to exceed even pre-pandemic levels of trading.
Accounts for the year ended 31st March 2020 show Net Profit before tax in excess of £84,000. The company has still shown significant Net Profit for the year ended 31st March 2021 showing good resilience during what has been a very tough year for all Salon Businesses. Books & Accounts will be available for the inspection of bona fide applicants. Sale of shares in the Ltd company is the preferred method of sale, buyer will benefit from a £50,000 bounce back loan taken out in the companies name. Interest free until March 2022, 2% thereafter.
Currently run by working owner together with one full time stylist, two part time stylists, one junior stylist, one part time receptionist and one part time accounts clerk. Staff have been employed for many years and are familiar with the regular customers which, we feel, minimises the risk of customers going elsewhere once working owner departs. Vendor retiring and will therefore not operate another Salon in the future. There are staff members, we are informed, who would be suitable to take on more of a managerial role in the business should there be a need.
We consider this a genuinely rare opportunity to acquire a long-standing, successful business with a sincere reason for sale operated within a highly sought location and premises.
Lease: A new lease to be granted in respect of the Salon premises and the flat above for a term of 10 years at a rent of £24,000 per annum exclusive of rates. Potential to sub-let the flat at a rent of circa £675p.c.m. - £8,100p.a. which will offset a large portion of the rent due.
On this basis the asking price for goodwill, lease, fixtures and equipment:- £39,950 STOCK EXTRA AT VALUATION
N.B. Purchase to be arranged by way of transfer of shares within existing private company.
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