Business for sale

Business description

LOCATION

The salon has an excellent location on a small parade in the centre of a predominantly residential area of Luton in Bedfordshire

Other businesses on the parade include hairdresser, cleaning contractors and dentist, with a convenience store located nearby.

The salon has four parking spaces immediately outside the premises are there is free on street for two hours locally.

Nearby towns include Luton, Dunstable and Hitchin. The salon is located with access to the A505, which is a feeder road to the M1 motorway at junction 11.

THE BUSINESS
Advent Business Sales are pleased to have been instructed to offer to the market this extremely well established and profitable beauty salon.

Founded by our client 26 years ago and at the current premises for 16 years, the owner is now reluctantly offering the business for sale for health reasons.

The salon derives revenue from:
• LASER Hair & red vein removal
• Manicure and pedicure
• Waxing
• Spray tanning
• Massages
• Eye treatments
• Wide range of beauty treatments

They also offer semi permanent make up and Botox, by appointment only with a visiting therapist.

The customer base is mostly local regulars who have remained faithful to the salon due to its excellent reputation and convenient situation in the centre of a predominantly residential area.

STAFF DETAILS
The salon employs three full time therapists and one part time. Due to health reasons our client works part time.

We are advised that stock at cost is approximately £5,000.

REF: 9102LU

TRADING HOURS
Mon, Wed: 2.00pm – 7.30pm
Tues, Thurs: 10.00am – 8.00pm
Fri: 10.00am – 5.30pm
Sat: 10.00am – 3.30pm

EXPANSION POTENTIAL
The salon offers excellent future potential to increase both turnover and profits considerably by:
1. Opening more hours
2. Having a new owner working full time in the salon – the existing staff hours could be reduced
3. Reviewing the prices, which appear to low for the area
4. Having more advanced treatments
5. Offering teeth whitening by a visiting therapist
6. Carrying out more advertising such as leaflet drops
7. Offering nail art/extensions
FINANCIAL INFORMATION
We have been advised by the vendor of the following:

Annual sales: £125,000
Gross Profit: £93,000

Accounts will be made available to interested parties after a viewing has taken place.

Please let us know if you require finance for the purchase of a business.


TENURE: Leasehold
Original lease: 5 years
Remaining lease: 5 years
Review every: 5 years
Rent: £12,000 per annum

We are advised that the annual business rates are currently: £2,800