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Large Hair and Beauty salon with onsite parking.
Established over 10 years ago, the salon offers a full range of hair and beauty services including laser hair and tattoo removal.
Most of the salon has been refurbished and is in tip top condition.
Pre-covid turnover was consistently at £5300 per week but due to staff leaving during lockdown this has obviously dropped.
Current turnover is at about £2400 a week plus £19,320 extra income from renting 2 rooms which is about breakeven point.
I've owned this salon for 4 years although I'm not involved in the day to day running of the salon and I don't contribute anything to the turnover so its perfect for a working stylist or a beautician to come into a newly refurbished salon that's covering its bills to start your career.
Setting up a salon from scratch to this standard would cost in the region of 70k just for the basic fit out and that's before paying any rent, recruiting staff and getting to the breakeven point. Realistically to get a salon to this stage from a cold start would cost well over 100k so for a stylist looking for their first salon its a far more cost effective option and alot less work. You can come into the salon and concentrate on building your clientele.
Should an investor type buyer be interested there's the option to build back up the staff levels. Currently there is enough space for a further 5 full time stylists. Or rent 5 chairs out at £200 per week.
There's also further beauty room space to rent. After lockdown I finished refurbing 2 beauty rooms, put a months advert on Facebook and gained 2 new tenants so the demand for room rent is high.
So just by renting out the dead space this could bring in 67,000 extra in rental income which would be pretty much pure profit.
The current lease has approx. 6 years remaining however, should you wish to take on a brand new 10 year lease there may be a 3 month free rent incentive. I did this when I bought the salon and the agent has indicated it may be available to a new tenant entering into a brand new lease.
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