"Selling your business is our business"
"Selling your business is our business"
Fully describe the business's activities?
The salon consists of hair and beauty. It is 142m2 and they have a beauty section(room) to do the beauty services separately. The beauty section is run by another beautician. The salon is branded and falls under Schwarzkopf Professional. They have permanent staff and get apprentices from Centurion academy and Serwalo academy.
They do charity events also and get involved with the old age community and schools in their area. Their salon services from very young to very old people , male and female. They have an excellent relationship with the co owners of the shops in the centre and the centre management. The staff wear uniform to look professional and work as a team.
How long has the business been established?
Since1999
How long has the owner had the business?
Since inception(23Yrs)
How does the business operate on a daily basis?
Standard hair dressing operation.
How are the clients attracted to the business?
The business is well known with a strong market position in the area, They are very involved in the local community and have a solid clientele base.
What Advertising/Marketing is carried out?
Website
Facebook
Instagram
What competition exists?
Other hairdressers.
Is the business VAT Registered?
All documentation available to qualified buyers.
Are there up-to-date Management Accounts available?
All documentation available to qualified buyers.
What Balance Sheet and Income Statements are available?
All documentation available to qualified buyers.
How could the profitability of the business be improved?
There are chairs available for more stylists in this well run hair salon.
Is Seller finance available and for what amount?
No.
When does the current lease end?
March 2023 with option to renew
Is there an option of renewal & what period?
Yes.
What is the annual escalation %?
8%
What are the trading hours?
8am to 5pm
What is the square meters of the business?
142sqm @R123
Is a copy of the lease available?
Yes.
What lease deposit and/or other surety is required?
2 months exit rental.
What are the main assets of the business?
Asset list will be provided.
Are they presently insured?
All assets are comprehensively insured.
Strengths?
They have a strong market position and are very professional. Affordable prices for excellent services. They only use the top products in the salon. They have a very good reputation in the area. They give a lot back to the community. There is a large amount of development in the area with many flats and townhouses being built around them in a 2 km radius.
A good staff commission structure ensuring good turnovers.
Weaknesses?
Keeping up with the competition.
Competition from house salons.
Opportunities?
Increase staff compliment.
The owner has recently setup a complete offering - providing nail and beauty treatments.
Threats?
None perceived other than general salons in the area.
What is the reason for the sale?
The seller is selling due to health reasons.
What is the price plus stock and the profit?
R1700 000-00 excluding stock and rental deposit.
Annual Turnover Amount between R 500 thousand and R 6 million
