Leasehold Barbers & Ladies Hairdressing Salon in Hereford
Price:
Leasehold - £59,950
Location:
Herefordshire , Hereford
Business Type:
Service Businesses
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £35,000 pa with a net profit of £12,313 (see financial summary below).
- A business with great potential which has not been exploited because of a lack of investment in advertising, marketing and low staffing levels.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a partnership or husband and wife team
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides ladies and gentlemen’s hair dressing.
History
Phoenix Business Transfer Agents are delighted to place onto the market this leasehold Barbers and Ladies Hairdressing Salon which has been established since 1993. The business has been in the hands of the current owner since 1993 and he now wishes to sell due to relocation.
Services
This very good business opportunity provides ladies and gentlemen’s hair dressing.
Staffing
The concern employs one full-time staff and the wages are £11,290 pa.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.
Competition
There is no local competition.
Market
The client base consists of local residents from a highly populated area surrounding the business location
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include Sunday and Monday trading with the addition of selected later evenings.
• Increasing the services provided by including various beauty treatments and a nail bar.
• There is plenty of space within the ladies salon to construct a private treatment room.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.
The present annual turnover is £35,263 with a net profit of £12,313. The wages are £11,290 pa. The present value of the stock is £500.
The potential turnover of the business within the next 2 years is forecast to reach £85,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.
- Situated in the College Green area of Hereford, Herefordshire.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A49, A465 and A4103.
- Hereford City Centre, Ledbury, The Malverns and Ross-on-Wye all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.
The original length of the lease was 25 years with 6 years remaining. The rent is £4,600 pa with a review in 2012. The lease may be renewable or negotiable for longer term if required. The rates are £859 pa.
Tuesday to Saturday: 9.00am – 5.00pm
Sunday to Monday: Closed
North Yorkshire
£ 750,000
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