Established Barbershop - A Turnkey Opportunity
| Asking Price: | $225,000 |
| Established Year: | 1964 |
| Cash Flow: | $97,000 |
Neighborhood Institution Strategically Located fo Future Growth
Sgro's Barbershop holds a distinguished legacy, spanning six decades of service to our community. The location was established in the 1930s, it has stood as a steadfast beacon of tradition and excellence in grooming. Under the stewardship of Patricia Sgro, its fourth owner, Sgro's has flourished, embodying the essence of a quintessential neighborhood barbershop.
Situated in the heart of Shaker Heights, Ohio, Sgro's enjoys a prime location within a thriving suburb. The shop has been an integral part of the community for 43 years, serving generations of loyal patrons. Its reputation as a trusted destination for quality haircuts and timeless camaraderie precedes it, making it a cornerstone of the neighborhood.
Shaker Heights boasts a vibrant economic landscape, with a median household income of $92,000 as of 2021 and a robust annual growth rate of 7.5%. Moreover, the imminent development of the Van Aken District, located a mere .6 miles from Sgro's, presents an exciting opportunity for further growth and expansion. With the addition of 360 new apartments set to open between 2024 and 2025, the area is poised for an influx of residents seeking convenience and community.
Acquiring Sgro's Barbershop offers more than just a business venture; it is an opportunity to become part of a rich heritage and shape its future. With its turnkey operation and established clientele, the groundwork has been laid for continued success and prosperity for the right owner.
Additional Highlights:
• Current customer contact list maintained on transferrable file in MailChimp format and complete appointment turn-key appointment system on Waitwhile App
• Web Site, Instagram, Facebook, Twitter established social media presence.
• Lease Agreement Available for 7 Years total (5 yr with renewable 2) This lease is transferrable. First 5 year term beginning May 2024.
• New ceiling lighting and flooring installed in first quarter 2024
• New Washer Dryer
• Complete Security System with cameras
• Central Vac System with floor vac pans for Barber Stations
• Additional 986 sq. ft. storage basement with opportunity to commercialize if desired
• NEW 2024 Hvac System
• Option for owner to stay on board considered
• March 1, 2024 price increases not reflected on current financial information
