A very long established business which was set up by our client 51 years ago, who has now brought the business to market with a genuine reason for sale due to retirement. The business is currently operated by two self-employed stylists, with one of them renting a chair in the first floor room at £100 per week and the other stylist utilising a chair on the ground floor based on a turnover percentage share with our client who takes 36% of the takings, equating to approximately £400 per week. Our client undertook a substantial refurbishment a few years ago, adding new hydraulic chairs and general decor, so the salon is ready to operate right away from taking over. The premises is arranged to accommodate 9 cutting stations and 3 backwash basins. The business has built up a fantastic reputation over our client's period of ownership, supported by 4.8* Google review. Viewing recommended.
Location
The premises is located along a secondary parade of shops which still offers good levels of footfall and vehicular passing trade, being situated approximately 50 yards from a large car park which services the main shopping area.
Tenure:
New lease is available for a term to be agreed, with our client's current rent payable at £7,600 per annum exclusive.
Premises:
A terraced retail shop, with glazed frontage and single glazed entrance door leading into the premises which measures approximately 636 sq. ft. and is arranged as follows:
Main Salon
with 7 customer waiting seats and a serve-over counter with till behind. The area behind this is the MAIN SALON AREA equipped with 5 x cutting stations with hydraulic chairs, 1 x back-wash basin and a sink.
Parking:
A door at the rear of the salon leads outside where there are TWO DESIGNATED PARKING SPACES under the terms of the lease.
First-Floor Salon:
A staircase from the customer waiting area leads upstairs to the first floor, with the door directly in front at the top of the stairs leading into a WC with wash-hand basin and saloon-style swing doors to the right-hand side leading into a SALON AREA currently set up with 4 x cutting stations, 2 x back-wash basins, 2 x drying hood stations and a stainless-steel sink.
Staff & Trading Hours:
Currently operated by two self-employed stylists only. The business currently trades 5 days a week 9am-5.30pm, closing on Thursday and Sunday.
Turnover:
Our client doesn't operate the business himself and only rents chairs to self-employed stylists. The amount derived from those are £100 per week for renting the first-floor chair, with the chair rented on the ground floor based on a turnover percentage share, equating to approximately £400 per week for our client. This leaves massive potential for someone to come in as an owner/operator to greatly increase the turnover from their own clientele, in addition to employing more members of staff, either on a PAYE or self-employed basis.
Business Rates:
The premises is subject to a rateable value of £5,300 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 involved in 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.
