Upscale Salon in High Traffic Location Nets 147,283

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Asking Price:
$199,999

Gross Revenue:
$561,874
Cash Flow:
$147,283
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$10,000
included in asking price

FF&E:
$100,000
included in asking price

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Business Description

Upscale Salon in High Traffic Downtown Location BTI # 8617
Upscale salon in high traffic area of affluent community. The Salon provides full service with full and part time artists. Front desk has full time manager and part-time assistant. Parking is free on the street and in separate downtown parking structure. The owner subject to negotiations would stay as a manager or commission stylist @ 50% w/a minimum of $200 per week in retail sales otherwise 45% or rent a chair @ 275 per week. Sales have increased over the past three years.
Sales $561,874 Net Income $147,283 From FTR 1040 Schedule C for 12 mos 2018
Purchase Price $199,999 Down Payment $199,999 includes $10,000 Inventory
Rent $13,681 per month w/NNN
Expires 9/30/2020 w/One Option for 3 years 2,631 sq. ft.
Employees: 3 FT 3 PT Owner: 1 FT 0 PT
Reason For Sale: Retirement
Hours: Mon & Fri 10/6 Tues 10/8 Weds 11/7 Thurs 11/9 Sat 9/4 Closed Sun

About the Business

Location:
Santa Clara County, California
Year Established:
2005
Number of Employees:
6
Real Estate:
Leased
Building Sq. Ft.:
2,631
Rent:
$13,681.00 Per Month
Lease Expiration:
9/30/2020
Facilities:
Leased facility includes blow dry bar, 14 stylist stations, nail station, eyelash extension station, break room, restroom in high traffic corner unit location in busy walking area of great downtown area. Street parking is free and additional free parking garage is steps away from front door.
Growth & Expansion:
There are 6 paid employees (3 FT and 3 PT). There are also 8 FT and 2 PT independent contractors. There is room for additional stylists and cosmetology licensees in the salon.
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About the Sale

Reason For Selling:
Owner stretched too thin. Needs to either manage or do hair.
Training/Support:
Owner will stay to train for 4 weeks at 4 hours per week. Owner fully intends to stay on as stylist in salon after the sale.
Seller Financing:
Owner will rent back or commission

Listing Info

ID:
1551927
Ad Detail Views:
115

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Business Listed by

Michael Floorman

BTI Group Inc.
License# 01160661

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