Outstanding Hair/Beauty Salon - Yeovil
Price:
Leasehold - £49,950
Business Type:
Service Businesses
Business Description
• Long established leasehold hair and beauty salon – South Somerset
• Thriving and profitable business operating from modern, purpose built premises
• Main thoroughfare amid a wealthy catchment area
• Excellent parking facilities at rear and on street.
• Finance available (subject to status)
VALUE OF STOCK:
The vendor advises that stock typically has a value in the region of £2,000.
BUSINESS:
This thriving hair and beauty salon has operated from this site and under the same ownership for many years but following a full property redevelopment in 2007 now has the benefit of trading from modern, purpose built, premises with high quality internal fixtures and fittings on a modest rental.
The salon offers a full range of hair and beauty services including on the beauty side facials, special occasion make-up and lessons, spray tans, eye treatments, hand and foot treatments, nail treatments, body treatments, electrolysis and waxing together with cellulite treatments including the world’s leading inch loss wrap (universal contour wrap), a service with no competitor in South Somerset.
Located on a busy main thoroughfare in a wealthy catchment area with excellent parking facilities, the business is substantially profitable with turnover growth in evidence. We feel that this is an ideal opportunity for an experienced stylist or perhaps two stylists in partnership to acquire an established business with an excellent reputation.
YEARS ESTABLISHED:
The business was originally established in 1985 and has remained under the same ownership since that time.
OPENING HOURS:
Monday and Wednesday 7.30am to 6.00pm
Tuesday 8.30am to 6.00pm
Thursday and Friday 7.30am to 7.30pm
Saturday 8.00am to 2.00pm
Sunday Closed
TRADE:
The business has grown substantially since the premises redevelopment with turnover of £144,443 reported for the year ended 4/11/09. We await sight of later Vat figures which we understand will confirm further growth.
REASON FOR SALE:
After having run the business for many years the vendor wishes to sell to enable her to have more time for other interests.
She would be pleased to continue to work as a part-time stylist if this would suit the new owner(s).
STAFF:
There are three full-time and 6 part-time stylists including a salon manager (the owner works three long days each week) plus one full-time beauty therapist and one part-time receptionist. Wages in the year ended 4/11/09 stood at £81,387 including National Insurance.
DESCRIPTION OF PROPERTY AND ACCOMMODATION:
The salon forms part of the ground floor of a modern building, standing in a prominent corner position, constructed in 2007, of brick under a pitched and tiled roof. The property also accommodates (via separate leases and not forming part of the sale) a pharmacy at ground floor level and two self-contained 2 bed flats at first floor level. On the opposing corner stands a Post Office and General Store (Mace) next door to which there is a gentleman’s barber’s shop which is not seen as competition.
Slightly set back from the road and accessed across attractive stone paviours with a low brick wall running in parallel along one side, the main roadside salon frontage is imposing by nature with 12 double glazed window panels set within hardwood frames with a centrally set entrance door of aluminium in a matching colour. There are further matching double glazed panels on the corner and on the side elevation.
The front door opens into:
Main Salon (6.6m x 5.8m approx):
This spacious main trading area has been attractively designed using high quality oak fittings, enhanced through the use of matching doors and door frames to all other areas
From the Salon a door with integral glazed panel interconnects with a central hallway giving access to the residential accommodation above. This remains locked at all times.
Further doors from the salon give access to:
Beauty Room 1 (3.6m x 2.2m):
Beauty Room 2 (2.2m x 1.9m):
Kitchen (2.2m x 1.9m)
Disabled WC (2.2m x 1.6m):
Under stairs Cupboard
PARKING:
The salon has the benefit of 6 parking spaces to the rear of the property and there is also unrestricted street parking within a short walking distance for clients wishing to break their journeys easily to attend their appointment.
To the front of the salon there is a wall mounted rack for 4 bicycles, useful for school children in particular (there are 5 schools in the vicinity).
TENURE:
Leasehold
LEASE DETAILS:
The freehold of the property, of which the salon forms a part, is owned by the vendor and the intention is to create a new 10
Year lease on internal repairing and insuring terms at a commencing rental of £15,000 per annum subject to three yearly reviews.
LEGAL FEES:
Vendor and purchaser each to cover their own legal costs with the preparation cost of the new lease to be borne by the vendor.
LOCAL AUTHORITY:
South Somerset District Council
BUSINESS RATES:
We understand that the premises has a rateable value of £5,300 with Business Rates of £2,194.20 in 2010/11.
SERVICES:
We understand from the vendor that all main services are connected to the property.
COMMENTS:
The salon is presented to an exceptionally high standard and whilst there are competitor salons in the town centre this business is unopposed in its location which serves a very wealthy catchment area and as such is seen as a particularly attractive opportunity.
UK Non-Specific
£ 800,000
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