STUNNING HAIR SALON -Wellington, Somerset
Price:
Leasehold - £29,950
Location:
Somerset , Wellington
Business Type:
Service Businesses
LOCATION:
The business is located adjacent to a Waitrose supermarket in the very heart of the town centre.
BUSINESS:
This long established and successful hair salon has been positioned deliberately to serve the premium end of the market. A registered ‘Aveda’ salon, which is part of the Estee Lauder group, the business uses Aveda hair care products from a high performance, botanically based range available only through approved outlets.
The salon was fully refitted to a very high standard in 2007 and is offered in superb order throughout with strong underlying trading and continuing sales growth in evidence.
The premises benefit from being very close to a new Waitrose supermarket with a closely matching target sector and a substantial car park available to customers using the store for up to two hours and there is a significant passing trade as well as the opportunity to extend hours to match the supermarket foot flow if desired.
The vendor, who owns the freehold of the property, is offering a new lease of the ground floor salon on attractive terms, but is also prepared to consider offers for the property as a whole which also includes a separate, self contained, 2 bed flat at first floor level, currently let on an Assured Shorthold Tenancy.
YEARS ESTABLISHED:
The trading name has been associated with the town for more than 30 years having previously operated from two other premises in the High Street in the past before moving to the current site in 2007.
TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £89,908 were reported for the year ended 30 September 2010 during which time the vendor was absent for a considerable period due to illness. The accountant, who has made available abridged trading figures covering a 5 year period, expects sales in the year ended 30 September 2011 to show year on year growth.
NET PROFIT:
An adjusted profit (before rent) of £41,526 was reported for the year ended 30 September 2010. A new lease is offered, subject to opening annual rental of £12,000 per annum. This would suggest a revised abridged net profit of £29,526 after rent is allowed for.
REASON FOR SALE:
Retirement
STAFF:
The vendor currently works full time in the business and employs 3 part time stylists, each working an average of 3 days per week. The wages bill is understood to be c £530 per week.
OPENING HOURS:
Monday to Wednesday: 9.00am to 5.30pm
Thursday and Friday: 9.00am to 7.00pm
Saturday: 9.00am to 5.00pm
Sunday: Closed
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The salon occupies the ground floor of a terraced period property laid out over two floors under a pitched roof. The property, which is half timbered at first floor level to match the immediately adjacent property, was fully refurbished by the vendors when they acquired it in 2007.
The shop front comprises large picture windows with smaller glazed panels above either side of matching fully glazed double entrance doors, which open into:
Main Salon (6.3m x 6.6m):
• High quality polished porcelain floor
• Inset spotlighting overhead with fluorescent strips over the window displays, which accommodate 2 x freestanding Aveda product display units.
• Centrally positioned integral air conditioning unit
• 6 styling positions each with full length mirror, leather effect styling chair with foot rest and power to side
• High level wooden reception desk in silver and black to match centrally positioned wooden display table and other wooden display/storage units throughout the salon
• 2 x leather effect chairs for waiting clients
• 2 x mobile hair dryers
• To the left rear an archway leads to:
Left Rear Salon (2.6m x 4.2m):
• Polished porcelain floor
• Diffused overhead lighting
• 3 further styling positions to match the Main Salon
• 3 x mobile pedestal units
• Wooden storage unit with wire rack for display of colours and cupboards below
• Freestanding foil dispenser
To the right rear of the Main Salon a further archway leads to:
Right Rear Salon (4.1m x 2.0m):
• Polished porcelain floor
• 2 x ceramic back wash stations one with adjustable electric massage chair
• Freestanding wooden unit for the storage of products and towels
• Wall mounted glazed display unit
A further archway to the centre rear of the Main Salon gives access to an inner hall leading to:
WC (2.0m x 1.7m approx):
• Polished porcelain floor
• Slightly irregular shape
• Disabled width entrance door
• Large wall mounted wash hand basin with mixer tap, spray nozzle, tiled splash back and mirror over
• Low flush WC
• Extractor fan
Kitchen/Staff Room (3.4m x 2.0m approx):
• Polished porcelain floor
• Slightly irregular shape
• UPVC double glazed recessed window to side elevation
• Fluorescent lighting
• Range of matching floor units under roll edged work surfaces with two wall cupboards
• Stainless steel sink unit with single drainer to side
• Salonmaster hot water system
• Wall mounted Dimplex radiator
• Small refrigerator
• Microwave oven
• Condenser dryer
• Space for cloaks
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)
None – However, the freehold of the property also incorporates a self contained 2 bed flat at first floor level, currently let at £525 pcm on a separate assured shorthold tenancy.
OUTSIDE:
Whilst there is no specific parking provision for the property there is a degree of unrestricted parking in an adjacent street available on a first come, first served, basis. Clients using the Waitrose supermarket (c 50 yards away) are able to park free there for two hours.
LEASE TERMS:
A new secure lease of up to 10 years (within reason lease term available as required) is offered for the ground floor salon on full repairing and insuring terms at an opening rental of £12,000 per annum, subject to review on a 3 yearly basis.
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