Turn-Key Hair Salon - 20 years at same location

Maricopa County, AZ

Turn-Key Hair Salon - 20 years at same location
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Asking Price: $225,000

Cash Flow: $80,000

Gross Revenue: $500,000

EBITDA: $80,000

FF&E: $40,000

Inventory: N/A

Rent: $3,000 /Month

Established: 2001

Turn-Key Hair Salon - 20 years at same location

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Business Description

Great Opportunity to move to the warmer weather

20 years ago, this husband/wife team had the foresight to establish an upscale salon in one of the Northwest Valley’s largest and most affluent retirement communities. Their primary focus is on Baby Boomers (both sexes) who actively support this elegant salon. These clients have the funds and are willing to spend generously on maintaining their appearances. The husband handles the finances and other non-hair related items and the wife works with clients two days a week. Business is currently operated on a semi-absentee basis which enables the owners with plenty of time to travel for family and pleasure.
Two part-time receptionists provide full coverage and schedule all appointments. Most clients are booked in advance and in some cases, have booked appointments for many months ahead. Business is seasonal with March being the busiest month and July being the slowest month. Most operators are paid on a commission basis and have been with the Salon for many years.
The Salon is located off a busy intersection and has several complimentary businesses nearby. The Salon is one of the cleanest and most attractive salon that this Broker has seen. There are 9 stylist stations and 4 shampoo bowls.
Annual Sales in 2018, 2017, and 2016 were $477,000. $505,000 and $500.000, respectively. The owners attribute the decline in 2018 to the fact that several operators missed work for health reasons.
Owners are planning to retire and would prefer an all cash transaction.

Detailed Information

Real Estate:
Leased
Building SF:
1,234
Lease Expiration:
4/30/2020
Employees:
13
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Competition:
Only hair salon in their community
Financing:
Seller desires all cash
Support & Training:
Two weeks during normal business hours
Reason for Selling:
Retirement
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Contact the Seller

(from currently available funds)
 
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Jim Magrogan, Designated broker

Business Listed By:
Jim Magrogan , BBS

Macor Associates, Inc.

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Memberships & Certifications:
Indicates membership in The Arizona Business Brokers Association (AZBBA).

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