West Los Angeles Hair Salon Priced to Sell

Location: California, United States
Category: Services
Type: Established

Financials

Asking Price: $55,000
Cash flow: $38,422
Revenue: Not Disclosed
Gross Income: $108,000
Inventory: $200 - Included in the Asking Price
FF&E $10,000 - Included in the Asking Price
Real Estate: Not Disclosed

Business Details

This salon has been serving Los Angeles Westside for over 20 years. Located on a major boulevard, this prime location is key to capturing clients from Westwood, Century City, and West Los Angeles. The salon has 8 chairs with 2 employees and 6 independent contractors working various hours. Two employees and two of the independent contractors are on a commission split with the owner, and the other four are on a booth rental system. The seller also works as a stylist and will be willing to stay with a new owner.

Facilities:
This salon is located in a 1,200 square foot facility with excellent street-front exposure. The monthly lease is $3,661 (CAM included) expiring in 2008, with an additional 5-year option to extend. The sale includes all the assets of the business except for personal art and d cor. The assets include 8 hair stations, 8 hair drying stations, 4 shampoo stations, a washer and dryer, refrigerator, microwave, and the hot water heater.

Financing:
To be determined

Support:
Seller will train for 2 weeks at 20 hours per week.

Competition:
Competition is considered high as other salons in the area exist.

Growth:
Many opportunities for growth exist. Currently this owner is working as a stylist and oversees the business on a managerial basis. A new owner could increase marketing with direct mailers, local coupon books, local university publications, and community weeklies. A new owner may also seek to expand the retail solutions, or add complimentary service offerings.

General Information

Reason Selling: Semi-retirement

Number of Employees: 8
Year Established: 1986