Blow Dry Salon

Palm Beach County, FL

Blow Dry Salon

Asking Price:$235,000

Cash Flow:$57,000

Gross Revenue:$295,000

EBITDA:$57,000

FF&E:$210,000

Inventory:$10,000*

Rate/Sq. Ft.:N/A

Established:2014

*not included in asking price.

Blow Dry Salon

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Business Description

Offered for sale are 2 locations of a 3-store chain based in affluent South Palm Beach County, Florida which offers blow dry services, make-up sales and application and some related products and services. The stores can be purchased individually or together. Additionally, the entire 3-store chain is offered for sale under a separate listing.

Store #1 opened in Fall, 2012 as the regions first Blow Dry Salon and enjoyed almost immediate success thanks to its premiere location and stunning build-out. (The two stores offered in this listing opened in Fall, 2013 (Store #2) and in Fall, 2014 (Store #3)). The owners design sense and high standards for fixtures and finishes, and a commitment to delivering a quality service and experience, resonated with clients who have continued to demonstrate their loyalty in the first, and subsequent locations.

While competition followed, these stores have been largely unaffected and over time those "competitors" have mostly closed or converted to "full-service" while our reputation continued to grow and our stores are regarded as "best in class". Unlike traditional salons, the Blow Dry salon income is much more predictable and consistent and importantly, is not effected by turnover or change of ownership. The clients are loyal to the business and quality upscale environment, not the stylists or the owner (who is NOT a stylist).

Both of the stores being discussed in this offering are well-established with loyal clients are still growing, but have tremendous upside potential and additional capacity.

NOTE: The financial information in this listing is for store #3. The financial information for Store #2 is below:

STORE #2:

Asking Price: $695,000
Gross Revenue: $530,000
Cash Flow: $177,000
FF&E: $225,000
Inventory: $10,000
Building Sq.Ft: 1200
Lease Expiration: 2028
Employees: 15

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Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building Sq. Ft.:
900
Lease Expiration:
12/31/2029
Employees:
12
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Both locations were built with: *the finest custom fixtures and finishes *well-thought out and robust utilities including: - multiple A/C units to combat the extreme heat created by hair dryers - upgraded electric service with dedicated circuits/outlets - upgraded plumbing lines to insure strong water pressure at the wash sinks. * superior customer parking (VITAL!!!) These "hidden" upgrades are vital and something any prospective owner/operator should be mindful of as they are difficult and expensive to upgrade later on.
Competition:
Both of these stores are located in prime shopping center locations with great parking in markets with exceptional demographics....in fact among the most affluent demographics anywhere! Store #2: a 1200 sf store located in a major Grocery-anchored center on the areas main retail corridor Store #3: a 900 sf store located in a 15,000 +/- strip center on the areas main retail corridor While other Blow Dry salons have opened most have had little success...some closing and others converting to full-service salons.
Growth & Expansion:
Both Store #2 and Store #3 have revenue which has continued to grow in spite of a lack of owner/management oversight. Both stores offer a very real and short-term opportunity for growth if they are managed/nurtured in a way consistent with how Store #1 was. A solid owner/manager in either location could easily cause it to reach its potential.
Support & Training:
Owner is committed to a smooth transition and will commit to 40-hours training over four weeks (per location).
Reason for Selling:
Wants to work less

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Business Listed By:
John Thomas

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