How does the business operate on a daily basis?
Store managers open and close the stores. Owner not involved on a daily basis.
Tues - Fri 9am - 6pm
Sat 8am - 4pm
Sun 9am - 3pm

How are the clients attracted to the business?
Located in a busy strip mall.
Social Media
Word of Mouth

What Advertising/Marketing is carried out?
Facebook and active social media presence.

Does the business have any contract work?
No

What competition exists?
There are Barbers in surrounding areas.

What are the seasonal trends?
Summer trade tends to be better, with an uptick prior to the beginning of the school year.

Is the business VAT Registered?
No.

What Balance Sheet and Income Statements are available?
Current financial information available.

How could the profitability of the business be improved?
Greater owner involvement providing oversight and insuring a good customer experience.
Expanding into grooming products (beard oils, hair care) for additional revenue streams.

Offering premium services (hot towel shaves, styling packages) to increase margins.

Leveraging digital booking systems and loyalty apps to streamline operations and retain clients.

What is the total staff complement?
4 x barbers.
Open and close the store on a daily basis.

Give a breakdown of staff/ functions/ length of service?
3 of the employees have been employed for over a year, the other has been previously employed for 5 years at one shop, decided to take a short break due to personal reasons and has returned. She has been working for us again for about 3 months.

Do any receive special perks or incentives?
Basic salaries with 10% commission on product sales.
There is an oppertunity to impement targets and commision.

Are they on contract?
Yes

Do any have management potential?
Yes, each store has a senior barber.

How involved is the Owner in running the business?
The owner is not involved in running the business as he stays in another province. This is one of the main reasons he is selling, he doesn't have the capacity to operate the stores.

When does the current lease end?
2028

What are the trading hours?
Linton's Corner
Mon-Sat 9am-6pm
Sun 9am-3pm

Jean's Crossing
Mon-Fri 8am-6pm
Sat 8am-4pm
Sun 9am-2pm

Is a copy of the lease available?
Yes

Do you require a licence?
No

What lease deposit and/or other surety is required?
2 months exit rental.

What are the main assets of the business?
General barber equipment and shop fittings.

What is their overall condition?
All assets are in good working order.

Do any require repairing?
No

Are they presently insured?
All assets are comprehensively insured.

Strengths?
The barbershops’ strengths include a prime location with high visibility and strong foot traffic, making them easily accessible to customers. The business is supported by a loyal and skilled team of barbers who provide consistent, high-quality service, helping to build a strong base of regular clients and positive word-of-mouth in the community. In addition, the shops maintain a clean and welcoming environment that encourages customer satisfaction and repeat visits.

Weaknesses?
The owners are not located close to the barber shops, which makes it more challenging to effectively oversee the business, implement marketing strategies, and support consistent growth.

Opportunities?
Opportunities for the barber shops include expanding their range of services by introducing options such as treatments like waxing if the necessary equipment is added in the future. There is also potential to increase revenue by selling a wider variety of hair and grooming products. In addition, the strong location can be further leveraged through improved marketing strategies, such as social media and local promotions, as well as building relationships with nearby businesses to attract more customers. Over time, the barber shops could also grow by hiring additional staff or expanding into new locations to increase capacity and reach.

Threats?
Threats to the barber shops include increasing competition from other nearby barbershops or salons, which could attract both existing and potential customers. In addition, economic challenges may affect customers’ spending habits, leading to fewer visits or reduced demand for services during difficult financial periods.

What is the reason for the sale?
Owner has other business interests.

Why is this a good business?
Essential Service: Haircuts and grooming are non-discretionary for most people. Even in tough economic times, customers still need regular trims, making revenue more resilient.

Recurring Customers: Unlike one-off purchases, barbershops thrive on repeat business. A loyal client base can provide predictable monthly income.

Cash Flow Friendly: Services are usually paid immediately, reducing issues with accounts receivable.

Scalable Model