Modern Hair Salon

Bergen County, NJ

Seller Financing Available
Modern Salon

Asking Price:$89,900

Cash Flow:$40,000

Gross Revenue:$120,000

EBITDA:N/A

FF&E:$89,000

Inventory:$2,000

Rate/Sq. Ft.:$15.51

Established:2014

Modern Hair Salon

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Business Description

Solid business opportunity to own this ultra-modern full service hair salon located in a highly populated affluent city of Northern New Jersey. This popular salon offer a full-service menu from everything including haircuts, blow dries, highlights balisage, of what their clients expect. They are known for their unparalleled salon experience and personalized service to create a custom-tailored perfect look. The staff makes every appointment a pleasant experience, and the stylists will bring you professional care and personal advice. Their staff is skilled with the latest trends, techniques and hair care, to ensure their customers are always getting the best service and products. The salon is dedicated to making their clients fully satisfied and they focus on providing beauty treatment of the highest quality, utilizing cutting edge techniques. Their stylists have years of professional experience, and pledge to offer the finest hair-cut, color, and care for our customers. Along with the necessary skills to give their clients exactly what they desire, their team of stylists always listen, are energetic, and ready to offer advice and suggestions. Their full range of services include haircuts, styling, coloring, highlights, lowlights, perms, body waves, Keratin treatments, evening styles, UpDo’s, hair extensions, conditioning treatments, color correction, and makeup. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent investment return to the owner operator prior to debt service. This industry requires state government licensing approval to operate. This wonderful business opportunity is in Northern New Jersey, Bergen County, which consists of various highly populated affluent communities with continued demand for this industry. This retail facility consists of 1,470 square feet with an ultra-modern professional appearance. The business is located on an active commercial avenue with various other active and successful businesses. This salon business has two employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $1,800. The business has an assignable commercial lease which expires December 31, 2018 plus additional options, with a monthly rent of $1,900, cost per square foot is $15.51 and rent security $3,000. The business is located on an active county road, with lots of drive by traffic and the facility consists of 1,470 square feet has a capacity for approximately nineteen customers. The company’s fixed assets has an estimated value of approximately $89,900 which is based on replacement cost and the sale consists of a fully equipped commercial retail hair salon business, which includes nine chairs, displays, shelving, POS system, tables, computers, sinks, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active five days per week, with hours from 9:30 am to 6:00 pm. The sale includes a certificate of occupancy from the municipality and the required state and city licenses to conduct its day to day business. The owner is absentee and not involved in the day to day operation, however he will offer a post-closing transitional period to the new operator. The sale is due to the owner’s absentee ownership. The business presently has no marketing plan, poor web site and if improved can further develop the business bottom line net income. To the best of our knowledge, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser. The 2016 yearly gross income is $120,000 and the business has a yearly net income of $40,000 based on an owner operator and prior to debt service. The business has been valued at $89,000 based on a multiple of the net yearly income including the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this business opportunity.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building Sq. Ft.:
1,470
Lease Expiration:
12/31/2018
Employees:
Two
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This wonderful business opportunity is in Northern New Jersey, Bergen County, which consists of various highly populated affluent communities with continued demand for this industry. This retail facility consists of 1,470 square feet with an ultra-modern professional appearance. The business is located on an active commercial avenue with various other active and successful businesses.
Competition:
To the best of our knowledge, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth & Expansion:
The business presently has no marketing plan, poor web site and if improved can further develop the business bottom line net income.
Financing:
Seller financing is available to qualified buyers.
Support & Training:
The owner is absentee and not involved in the day to day operation, however he will offer a post-closing transitional period to the new operator.
Reason for Selling:
The sale is due to the owner’s absentee ownership.

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Ron Cervelli

Business Listed By:
Ron Cervelli

Regal Consulting Corp.

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