Very Busy Hair Salon for Sale on North Side of Chicago, IL

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Asking Price:
$325,000

Gross Revenue:
$1,289,301
Cash Flow:
$176,061
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$35,000
not included in asking price

FF&E:
$135,000
included in asking price

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Business Description

This is a very busy upscale salon that primarily focuses on hair styling and coloring. They also offer extensions, special hair treatments, and make up treatments. Retail products including hair care, skin care, and candles are also sold.

This salon opened 15 years ago and has a great track record and is well-respected in the industry.

It’s an upscale salon that primarily focuses on hair styling and coloring. They also offer extensions, special hair treatments, and make up treatments. Retail products including hair care, skin care, and candles are also sold.

The salon has been featured in national publications like Allure Magazine, Elle Magazine, and Salon Today Magazine. They've been seen on television and news segments, worked with celebrities, festivals, and fashion companies.

There are 22 total stations throughout the salon. These are divided up between various spaces, made up of 2-4 chairs, giving the salon the comfortable feel of being in someone’s home, rather than your average salon in a box.

About the Business

Year Established:
2002
Number of Employees:
25
Real Estate:
Leased
Building Sq. Ft.:
2,200
Lease Expiration:
4/30/2025
Facilities:
Asking Price/Business only: $325,000 plus inventory
Gross annual sales (approximately): $1,289,301.00 (2016)
Cash flow (approximately): $176,061.00 (2016)
Value of furniture, fixtures & equipment (approximately): $135,000.00
Value of inventory (approximately): $35,000.00
Storefront / Lease details (approximately): The Base Rent is $5,769.00/month & RE Taxes are $450.00/month. Garbage & Snow Removal are included. The space is approximately 2,200 sq ft. Lease goes through 4/30/25 (including option). Street parking plus nearby garage parking available. Lease must be personally guaranteed. Rent increases are 4% annually.
Seller Financing: Owner will consider a small amount of financing with qualified & experienced buyer/operators.
Contact: Jason Pittman, info@ababusinessbrokers.com, Advantage Business Acquisitions, Inc. 847-284-4037
Market Outlook/
Competition:
Opportunities to grow the business are still abundant. The neighborhood has some large high-rise developments planned and already in progress as well as surrounding neighborhoods, so there’s a lot of opportunity to promote to new residents and workers nearby. The website and social media are primed and ready for sophisticated ad campaigns. The salon is currently closed Sunday & Monday, so opening an additional day is an opportunity for increased sales as well.

As you can see, this is a great opportunity to own an existing salon with fantastic numbers & a long history in the community without all the headaches & risks involved with building a salon business from scratch.
Growth & Expansion:
This salon also has a great website that is modern, unique, mobile-optimized, and equipped to sell gift cards. The website links to the salon’s social media accounts, including YouTube, Facebook, Twitter, Pinterest, and Instagram. The Press page of the website has dozens of links to press releases and articles that highlight the salon.

Located on North Side of Chicago (Cook County) Sale includes: the Business, all Equipment & all Fixtures.
Purchase Price / Business only = $325,000 plus inventory
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About the Sale

Reason For Selling:
After a 15 years of operating the business, the owners are considering retiring
Training/Support:
The owners have taken measures in recent years to delegate day to day responsibilities to key employees and largely run the business absentee. One owner who does some of the styling, only works with clients a few days a month now, and has trained some of the veteran stylists to also take a leading role in the continuing education and training of the staff. The other owner only works onsite a few days a month as well and has trained some managers and salon directors to manage the front desk and administrative duties.
Seller Financing:
Will Consider Small Amount

Listing Info

ID:
1376376
Ad Detail Views:
1397

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Business Listed by

Tony Gavros

Advantage Business Acquisitions

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