Financial Information
Asking Price: $195,000 Gross Income: $1,312,000 Cash Flow: $172,500 FF&E: $30,000 Inventory: $25,000 (inventory is not included in the purchase price) Financing: Seller will consider financing for qualified buyers.
Summary Description This fabulously chic, award winning hair salon caters to an upscale clientele from one of Boston’s most desirable and exclusive locations! The Salon has a loyal and established clientele in the thousands, who patronize the Salon for its experienced and knowledgeable stylists, excellent service and hippest hair styles.
The Salon features 12 hair stations and additional space that could be used to offer spa services, such as adding a nail tech or an aesthetician.
The Salon sells high end product lines, adding to both gross sales and margins. Licensed industry software and top notch website are included in the sale. Extremely reasonable monthly rent of $5,900 affords the Salon a competitive advantage.
The Owner has maintained extremely accurate books and sales figures for this profitable Salon, and the Owner’s Discretionary Earnings (six figures) may be verified from tax returns.
The Salon is one of the highest grossing hair salons for sale in the country and presents an outstanding opportunity for a buyer to establish an immediate and substantial presence in the prestigious Boston market.
Growth and Expansion
The Owner spends very little on advertising and promotions, relying mostly on the reputation of the Salon's elite stylists and stellar customer service. Opportunities to cross promote with the many hotels, businesses, and schools within close proximity are numerous. The Owner has done very little personal networking across industries over the past few years as well. Not every stylist is employed full-time and additional stylists could be added to the roster. The Salon could open an additional day.
General Information
Facilities: The Salon occupies an entire floor at an exclusive Boston location. Lease: Monthly Rent currently is $5,900. Support/Training: Seller will provide a two week transition period. A longer transition period may be negotiated upon satisfactory terms. Reason Selling: Seller is relocating. Year Established: 1997 Employees: 10-12 stylists, 4f/t and p/t assistants.
Contact Information
Wayne S. Michals
Tel: 866.970.7050, Ext. 100
Fax: 617.273.2620