The hair and beauty salon is situated in Hadley Wood, Barnett (the postcode is EN4 0EJ). It is within a very affluent, upmarket and prestigious area with no competition. There is free, easy parking available and no salon for 3 miles. Clients are attracted from a 20-mile radius because of the reputation of the Salon.
This very well presented, hair and beauty salon for sale was established in 1978 and the Owner is looking to retire.
The business provides all hair services apart from hair extensions, and the full range of services are listed on https://www.alanlawrencehairdressers.co.uk/hair-saloon-prices/ . They also stock retail products including Loreal, Paul Mitchell, Osma and Toni and Guy. The sales breakdown is around 95% hairdressing and 5% retail. The salon attracts around 150-170 clients each week and the regular client base of over 3,000 are contacted weekly. The business is operated with Schedule software.
75% of business is repeat business with around 20% from referrals.
The business is operated with 15 full and part time staff, all of whom are willing to stay on and grow with the business. The business is a turnkey operation and is fully staffed and management in place. The Owner plays no active role in the day to day running of the salon.
The unique selling points of the business are:
● A long-established business which has been trading over 45 years
● Business situated in affluent area with no competition
● Free parking available
● The business has consistently been profitable.
What are the major strengths of the business?
● Strong loyal, well-trained team and experienced team
● Loyal clients
● Excellent reputation
What are the major weaknesses of the business?
● Not Owner managed, so potential to significantly grow in young and enthusiastic hands
What opportunities are there for the business?
• An effective hands on Owner management team to compliment and grow the existing business considerably
• No social media presence at the moment
• More marketing
What are the main threats to the business?
● There are no real threats.
Open 9 am to 6 pm 7 days a week.
For the year ended 31.03.2016 the turnover of the business was £368,256 with gross profit after wages of £79,030. The operating profit for that year was £31,212.
For the year ended 31.03.2017 the turnover of the business was £350,946 with gross profit after wages of £70,360. The operating profit for that year was £25,864
For the year ended 31.03.2018 the turnover of the business was £329,582 with gross profit after wages of £71,561. The operating profit for that year was £34,324.
The rental income of £8,000 is not included in the turnover of the business and would be added to profits for a Buyer.
The main salon area has 14 workstations and 4 backwashes. It is air conditioned and there is a small staff kitchenette as well as client toilets. There is also a reception area with 3 beauty rooms which is situated on the lower ground floor and is rented for £8,000 pa. This is not included in the accounts.
The property is freehold
These details do not constitute part of an offer or contract. The statements and descriptions given are made without warranties by Enthuse Transformations Ltd (Trading as ETS Corporate). The information contained herein has not been verified by Enthuse Transformations Ltd; complaints regarding the accuracy of the information contained herein will not be acknowledged. 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. Furthermore, any representations made by any representative of Enthuse Transformations Ltd regarding this business are subject to verification and should be independently corroborated.