HIGHLIGHTS:
• SUPERBLY PRESENTED HIGH STREET SALON
• FORMING PART OF LONG ESTABLISHED FRANCHISE
• HAS TRADED FROM THIS SITE FOR 30 YEARS +
• FULLY COMPUTERISED MANAGEMENT SYSTEM
• DELIVERING CONSISTENTLY STRONG PROFITS
• LARGE PREMISES WITH FORMER FLAT ON FIRST FLOOR
LOCATION:
The business is located in a prominent position in Poole High Street with little direct competition in the immediate area.
BUSINESS:
This superbly presented hair salon franchise has operated very successfully for more than 30 years. Occupying a prominent high street trading position close to two retail shopping developments, but with limited direct competition in the vicinity, the premises are spacious currently accommodating 18 styling positions and 6 back wash stations. Laid out over two floors to include first floor space once arranged as a 3 bed flat, there is room to expand into beauty therapy or to re-create stylish residential accommodation in the heart of the town centre.
The salon is part of a Midlands based franchise, which has a number of other salons in the Bournemouth/Poole conurbation. The sophisticated franchise management system is tried and tested and offers the salon owner considerable support and the ability to concentrate upon styling work if preferred.
Trading performance has been very consistent over the past three years with strong bottom line profitability delivered.
YEARS ESTABLISHED:
We understand that the salon has traded under the current name from the site for 30 years +.
TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £297,328 were reported for the year ended 31 March 2011. Trade has been very consistent in the past three years.
NET PROFIT:
An abridged profit of £51,723 was achieved in the year ended 31 March 2011, the average abridged profit for the three year period ended on that date being £51,634. This is after payment of franchise commission of 10% of takings and management charges of £1,500 per month, the latter including the provision of all book keeping, accountancy and payroll services.
REASON FOR SALE:
The vendor has the opportunity to travel widely in connection with her husband’s business.
STAFF:
The vendor currently works full time in the business, operating as a stylist as well as managing the salon. A team of 9 staff includes 3 x full time stylists, 2 x part time stylists (1 x 4 days, 1 x 1 day), 3 x juniors and a full time receptionist who has also trained as a beauty therapist.
OPENING HOURS:
Sunday and Monday: Closed
Tuesday to Thursday: 9.00am to 5.30pm
Friday: 9.00am to 7.00pm
Saturday: 9.00am to 5.30pm
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
This listed terraced property is laid out over two floors under a pitched and tiled roof with a single storey extension to the rear under a flat roof. The former residential accommodation at first floor level is spacious, extending over the neighbouring ground floor retail unit.
The shop front, which is set within an aluminium frame, accommodates a large display window alongside an entrance door to the left with further glazed panels to the side and above. The entrance door opens into the salon area which extends to 19.8m from front to back and is from 4.7m to 5.0m wide. The salon is superbly presented with a high quality porcelain floor throughout, including in the ancillary areas to the rear, overhead track lighting suspended from a high ceiling to the front with further inset spot lights and blue, wall mounted up lighters and a lower ceiling to the rear with further feature track lighting and inset spot lights combining to provide a superb ambience. There are ceiling mounted air conditioning units (hot and cold) in both the front and rear parts of the salon area.
The vendors invested c £35,000 in a substantial salon refit in May 2009, the space now accommodating 18 styling positions, each with marble shelf and angled mirror in a wooden frame with concealed power sockets, black leather effect styling chairs and footrests. There are 10 mobile pedestal units, two black leather effect reception chairs, two matching stools, a nail bar with technician’s and client’s chairs, 2 x wall mounted Climazon colour setters and a wall mounted dryer.
To the front a superb L shaped reception desk accommodates a fully computerized client management system with on-line booking facility.
To the rear there are 6 back wash stations, including one disabled station, each with ceramic basin and with 5 x leather effect client chairs and fitted cupboards and open storage units to the right hand side under a roll edged surface with a tiled splash back.
There are a range of attractive display units located throughout the salon including an independently lit Wella unit in the front window, a recessed shelving space to the left hand side, a further display unit adjacent to the reception desk and two further units in the rear salon area.
There are also wall mounted digital television screens in both the front and rear salon areas.
To the rear left hand side a wooden door gives access to a fully tiled, disabled friendly, WC facility with single cubicle, corner mounted wash basin with glass shelf and mirror over, inset spotlighting and extractor fan.
A further wooden door opens into a rear hallway leading to:
Kitchen – irregular shape, suspended ceiling, freestanding gas boiler, wall mounted central heating timer, large water tank with immersion heater, stainless steel sink unit in a roll edged work surface with fitted cupboards and refrigerator under, further wall cupboards, a further fitted double width cupboard housing meters and fuse boxes. Coffee percolator.
To the rear and adjacent to a UPVC door set at an angle and representing the rear exit into Hill Street, a further wooden door gives access to:
Store Cupboard – irregular shape, ceramic wash basin, wooden wall shelving for display of colours, open doorway to second storage area incorporating a low flush WC and further wall shelving.
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'.)
Whilst not currently used as such the spacious first floor accommodation has, we understand, previously been used for residential occupation, albeit only accessible through the ground floor commercial space.
A wooden door to the right hand side of the front half of the salon opens into a stairwell with space for cloaks and a staircase with wooden handrail rises to a half landing and with a half turn rises to a galleried landing area at first floor level.
The accommodation benefits from high ceilings throughout together with most attractive wooden sash windows to all principal rooms but is currently largely without floor coverings except where stated. From the landing/hallway, where there is a loft hatch, wooden doors give access to:
Bathroom – enclosed bath with matching wash basin and low flush WC. Extractor fan.
Former Kitchen – Large sash window to rear elevation, wooden door representing a fire exit onto the flat roof, vinyl floor covering, fitted washing machine and 3 x tumble dryers. 2 x wall shelves.
Reception Room – Large sash window to front elevation. Doors to:
Bedroom 1 – Large sash window to front elevation. Cupboard housing hot water tank/immersion heater
Bedroom 2 – Large sash window to front elevation. 2 x stainless steel storage racks. Interconnecting door with hallway.
Bedroom 3 – Large sash window to rear elevation.
Office/Reception Room 2 – Large sash window to rear elevation, desk with 3 x wooden shelves over, 3 drawer filing cabinet. Microwave oven. Carpeted.
OUTSIDE:
There is no specific parking provision with the lease but there is plenty of public parking available within a short walking distance of the High Street and the nearby retail shopping centres.
FRANCHISE AND LEASE TERMS:
The premises are held on a sub lease from May 2006 which expires in May 2013 to coincide with the scheduled renewal of the franchise agreement. We understand that the head lease dated 15 July 2002 runs for 15 years to 15 July 2017. Whilst the sub lease does not contain an automatic right of renewal it should be noted that the salon has operated as a franchise with the benefit of a lease for more than 30 years and we see no reason why this should change in the foreseeable future. Rent of £26,400 is currently payable and there is a full repairing and insuring responsibility.