SOLD!! Beautiful Farmington Hills Hair Salon

Farmington Hills, Michigan

Price: $77,000

Gross Income: $202,935 (2021)

Cash Flow: Available with NDA

FFE: $15,000 - included in asking price

Inventory: $17,000 - Not included in asking price

Real Estate: Leased

Year Established: 1990

Employees: 3 FT, 4 PT plus owner

Description

Hair and nail salon is a non-franchised business that has been in business for over 20 years. It has a comprehensive website and a state of the art POS software system for scheduling and client reminders, as well as tracking sales and other critical-to-success business metrics. Over the years the owner has developed a team oriented, caring culture amongst its employees and customers, where people love to come and enjoy their time spent in this higher end, beautiful, comfortable salon.

The ideal investor/buyer of this business would be licensed to practice cosmetology and who wants to have a presence in the day to day operations, being present for both customers and its employees.

Inventory typically fluctuates in the range of $14,000-20,000 and is not included in the asking price.

If interested in this business you must complete and return a NDA (confidentiality and non-disclosure/non-circumvent agreement). Call 734-323-0376 or email michelle@bbfbrokers.com for more information.

Facilities: Six years ago, salon was completely renovated with over $100,000 of build out and décor. Current lease has been extended, landlord is reasonable. Gross lease, $3,000.00 per month. Approximately 1950 sq ft total. Fully equipped and ready for the new owner to take it to the next level.

Competition: The salon’s location, available parking, ease of access, surrounded by businesses and residential provides a broad base of potential customers and helps in gaining a competitive edge over its competition that exists in this industry.

Growth/Expansion: Current owner suggests that the salon can easily accommodate the doubling of sales with the current space and equipment. In addition, there are opportunities for a new owner to bring in complementary services to what is already being offered. Substantially increasing the marketing and advertising, including digital marketing and social media, will be a powerful tool for a new owner to increase the sales. This business currently has not done very much of it, and still has sustained sales averaging a little over $200k.

Terms of Sale: Owner is willing to help with financing and open to considering various creative options - including partial sale initially, with terms to acquire fully at a later date - to help ensure the success of a future new owner.

Support/Training: Owner is willing to provide up to 20 hours/week of support and training for a period of eight weeks after the sale, free of charge.

For Sale page 2