New Price! Profitable Hair Salon for Sale in NW Chicago Area Suburbs

DuPage County, IL

Hair Styling Area

Asking Price:$149,900

Cash Flow:$71,000

Gross Revenue:$146,700

EBITDA:$75,000

FF&E:$75,000

Inventory:$5,000

Rate/Sq. Ft.:$2.34

Established:1985

New Price! Profitable Hair Salon for Sale in NW Chicago Area Suburbs

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Business Description

Excellent Hair Salon with Large, Active Clientele - New Price!

This excellent, profitable salon provides a great opportunity for a new owner - turn-key, well-respected and ready for expansion. The new owner will find a ready, motivated staff with whom to work and grow profits.

If you are in the salon or hair styling profession, you just have to explore this outstanding opportunity to get into a turn-key operation at an excellent entry price.

Attached Documents


Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building Sq. Ft.:
1,200
Lease Expiration:
1/1/2020
Employees:
2 FT, 3 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Business Description: This is a nicely profitable beauty salon that is located in an affluent north-western suburb of Chicago. This salon has been operated by one owner for 16 years and the business has been at this same location since 1985. The business has a large customer base (over 3750 clients). The stylists are paid a 41% - 49% commission, based upon their volume of business with clients. Most of the current stylists have been with the business a long time – 6-9 years so there is a history of customers very satisfied with the stylists. The new owner can expect to be making a profit quickly because of the excellent location and reputation of this salon. In addition to hair styling, the salon offers beauty products. Summary: This business owner has been working the present and only location for the past 31 years, becoming the owner in 2000. Owner Qualifications: Owner can receive the most income by working in the salon as a stylist and manager. Some experience with managing independent stylists would be a plus but not necessary.
Competition:
There are additional salons within a 1 mile radius of this salon, but no other salons in the strip mall. At one time, this salon was a part of the Fantastic Sam’s franchise, but the owner took it private to net more income.
Growth & Expansion:
Growth can be improved with additional service offerings: it could offer massages, spray tanning with its private room along with hair extensions. It could also offer longer weekday hours and Sunday hours to further increase the net income. The new owner can also introduce new product lines such as full facials, boutique clothing or jewelry to the salon.
Financing:
SBA Financing Available
Support & Training:
Current owner can set up training for new owner to run the business—she will stay on for up to six months to work alongside of the new owner as a stylist and train new owner as manager.
Reason for Selling:
Owner is looking for a new business opportunity

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William Graham

Business Listed By:
William Graham

Turnbridge Financial Group, M.A.

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