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Well Located, Successful Hair Salon In Banbury, Oxon For Sale

Banbury, Oxfordshire, UK
Asking Price:
£102,000
Turnover:
£375,000
Net Profit:
£40,000

The business was established in 1983. Lawrence Anthony started as a single-hair salon and has, in the past, expanded into other premium locations, including Summertown Oxford. The salon is based at 15 Parsons Street, Banbury, OX16 5LY.

The salon has won many awards and has remained a highly successful and popular business. Recently, after COVID, the business has had to rebuild and is now moving back to its previously successful position.

The owners, who are a husband-and-wife team, are selling due to retirement. It is operated by nine staff members, including five stylists. Lawrence continues to remain hands-on in servicing some of his personal client base 2 days a week. He is prepared to continue to do so after a sale.

Property Information

Property:

Leasehold

Lease Terms:

New lease available

Leasehold Rent:

£16,000 per annum

Location:

Lawrence Anthony is in a prominent position in a pedestrianised area in Banbury town centre. The partners also own the freehold of the building.
Location

The location benefits from

• Affluent community
• Prominent location
• Wide demographics
• Easily accessible premises

Premises Details:

The business is offered with a new lease with negotiable terms for up to 15 years with a starting rental of £16,000 pa.

Ground floor: large reception area, large retail area, 2 barbering chairs, 17 workstations, plus 6 backwashes. Stockroom, laundry room and dispensary. Staff room and 2 washrooms
First floor: Multiple rooms, all empty

Second floor: In need of refurbishment

Front of premises: Corner unit with four large windows and display windows

The rear of premises: 1 back door and 2 parking spaces
No workstations in total: 19

Business Operation

Reasons for selling:

Retirement

Trading hours:

Monday 09.00-17.30
Tuesday 09.00-17.30
Wednesday 09.00-17.30
Thursday 09.00-20.00
Friday 09.00-18.30
Saturday 08.30-17.30
Sunday Closed

Employees:
9
Years established:
40