Luxury Midtown Salon

New York, NY (New York County)

2500 square feet of loft space
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Asking Price: $599,000

Cash Flow: $100,000

Gross Revenue: $620,000

EBITDA: $150,000

FF&E: $155,000

Inventory: N/A

Rent: $8,500 /Month

Established: 2006

Luxury Midtown Salon

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Business Description

Luxury Midtown Salon

Keratin Lounge was established by Lasio - a Hair Care manufacturing company in the year 2006. As a keratin only salon, it created a lot of buzz and attention in the keratin market and beauty space. In early 2019, Keratin Lounge decided to expand their service menu by including hair color and hair cuts to increase gross profits and to satisfy the demand of their clients. Located in the heart of midtown, there is a plethora of transportation that allows for easy access to the salon and local businesses for cross promotion. The salon comes with loyal stylists and customers of over 7 years. This 2500 square foot of trendy and loft-like feel brings a luxurious ambiance to every client.

Detailed Information

Location:
New York, NY
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,500
Lease Expiration:
9/5/2022
Employees:
6
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The salon has 11 work stations, 6 of which are free standing stations with plush leather styling chairs. There are 4 stations with plush grey leather styling chairs. The front desk is equipped with retail space, computers, printer, cameras, and surround sound. There is a beautiful office space to be used by a manager and break room for the staff. (Home Based)
Competition:
Lasio is the #1 keratin on the market and has built a name for the salon. As the manufacturer, apart of the deal will include discounts on the purchase of the products to allow higher gross margins for the buyer.
Growth & Expansion:
Adding Hair cuts and Color to the service menu has increased sales by 20% in just 30 days. The expected growth is 60% in 12 months.
Support & Training:
The seller will agree to 3-6 month of thorough training on the establishment.
Reason for Selling:
Seller relocated out of state
Home-Based:
This business is Home-Based
Business Website:
http://keratinlounge.com
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Business Listed By:
Nadine Ramos

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