Santa Monica Beauty Salon Established 20 Years

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

Financials

Asking Price: $95,000
Cash flow: $65,148
Revenue: Not Disclosed
Gross Income: $110,400
Inventory: $5,000 - Included in the Asking Price
FF&E $15,000 - Included in the Asking Price
Real Estate: Not Disclosed

Business Details

This hair salon has been at the current location for 20 years, and under current ownership for over 10 years. This business is located on a major street in Santa Monica, within a few blocks of the beach, and major shopping centers and boutiques. The facility has to 7 styling stations, which are leased by professional stylists. The rental income produced by the stylists covers the facility overhead, providing the owner with pure profit from services she provides personally, currently estimated at about $70,000.

Facilities:
The sale includes 7 hair stations, 2 shampoo stations, 2 hair drying stations, and a private room used for aesthetician services. The business consists of 1,000 square feet, with a monthly lease of $2,400 ($2 per square foot). The lease is set to expire in 2011 and has 1 5-year option to extend.

Financing:
Not Offered

Support:
Seller will train for 4 weeks at 20 hours per week and may consider staying on as a stylist.

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

Growth:
Opportunities for growth exist. The business could increase marketing via local advertisements and direct mail, as well as cooperating specials with local businesses. At present, only 3 of the 6 booths are rented out full time at $600 per month, with one rented part-time at $300. An additional $1,500 in monthly rental income could be earned if all booths were rented out.

General Information

Reason Selling: Family / Personal

Number of Employees: 5
Year Established: 1986