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Popular and Profitable Eastside Salon

Detail information about the listing

FF&E:  50,000

Inventory:  5,000

Growth: The salon is focused primarily on hair services. With slight reconfiguration, the salon could be configured to accommodate barbering, blow dry bar and other services.

 

Further Details: Location:    King County, WA

 

Inventory:    Included in asking price

 

Real Estate:    Leased

 

Building SF:    1,278

 

Lease Expiration:    5 1 2024

 

Employees:    8

 

Furniture, Fixtures, & Equipment (FF&E):    Included in asking price

 

Facilities:    The salon is located in an upscale retail development, with strong traffic flow. Several popular businesses serve as anchors. The salon has an exclusive in the retail complex. The complex is diverse and full. The salon itself invested  250,000 in the initial build out, to attract and serve a high-end clientele. The salon has since updated and renovated several times to keep the atmosphere fresh. The salon was designed to easily accommodate up to 10 stations.

 

Competition:    The salon has picked up new clients since most of its competitors have gone out of business in recent years. The salon’s location is more convenient for many area residents, with plenty of parking. The stores and shops that surround the salon make it handy for people to shop, dine, exercise and accomplish other tasks with one trip, rather than having to make a dedicated trip. The nearest competitive salon is 7-10 minutes away, depending on time-of-day. There are no other salons in the immediate vicinity.

 

Growth & Expansion:    The salon is focused primarily on hair services. With slight reconfiguration, the salon could be configured to accommodate barbering, blow dry bar and other services.

 

Financing:    Owner will finance up to 30 percent of the purchase.

 

Support & Training:    The owner will provide all necessary training and is willing to stay on at the new owner’s option up to 6 months, to help manage and transition the clients.

 

Reason for Selling:    The owner is retiring and plans to move out of the area to be closer to children

 

 

Additional Details

  • State:WA
  • Asking Price:$239,000
  • Cash Flow:$100,000
  • Established:2010
  • Business Description:Well Established, Growing, Great Location Consistent and predictable revenue and earnings. This salon averages more than $450,000 in annual income and approximately $100,000 in Owner Benefit, year in and year out. A healthy mix of W2 commissioned stylists and leased chair stylists provides balanced income. The salon enjoys a strong clientele. Many clients have been coming to the salon for more than 10 years. The location and the convenience of the salon keeps clients coming back and provides a steady draw of new clients. The salon dominates its served area. Most of the salons in the area went out of business because of COVID, or because their stylists left the industry. As a result, the salon is in demand and enjoying the highest revenues in its 12 year history. The salon offers women's, men's and children's hair services. The average ticket for women is $200. The average ticket for men is $50. The average ticket for children is $50. Most clients tip 20% in addition to the service fee. The salon carries several popular lines of shampoos, conditioners and other hair care products. Approximately 10% of the salon's sales come from product sales with a 50% mark up. The salon's name, location and detailed financials are available to qualified buyers under non-disclosure agreement (NDA). The salon's financials are prepared and verified by an accounting firm. Tax returns are also available. Pictures will also be sent to interested buyers.
  • Support & Training:The owner will provide all necessary training and is willing to stay on at the new owner's option up to 6 months, to help manage and transition the clients.
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  • Reason For Leaving:The owner is retiring and plans to move out of the area to be closer to children
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