Hair Salon for Sale- Great Reputation, 30 Years in Business!

Bergen County, NJ
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Asking Price:$299,000
Gross Revenue:$778,581
Established Year:1995
Cash Flow:$182,205
Rent:$4,585/Month
BUSINESS DESCRIPTION

This hair salon has been proudly serving Bergen County for 30 years. Built upon high-quality service and treating staff and customers well, this hair salon has thrived and is poised to continue performing strongly for the next owner.

There is a loyal staff and customer base, due to the fantastic service and highly desirable location of the salon.

Revenues are comprised approximately 51% from haircutting/styling and 49% from hair coloring. The POS system utilized makes running the operation seamless.

All employees are on the payroll, in which they receive a base salary plus commission and gratuities.

The standard level of working capital required is $20-30K.

The current owner operates the business as both a hair stylist and a General Manager. 50 hours a week is spent behind the chair, in addition to handling managerial tasks such as hiring, firing and ordering of products. The seller currently generates ~45% of revenue.


DETAILED INFORMATION
Location
Bergen County, NJ
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
1,200
Employees
9
Growth & Expansion
Additional services can be added. There is an un-utilized room in the back of the salon. It is designed for waxing (not currently performed). A new owner can focus on adding spa related services, such as waxing, eyelashes, microblading or skin care. There is also an extra chair for another stylist that can be filled. There are 6 chairs total, in which only 5 are occupied at the moment. Advertising is limited.
Support & Training
The owner is selling due to succession planning, as he wants to scale back time spent working. He is willing to stay on for 6 months, 5 days a week.
Reason for Selling
Retirement Planning
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Michael
Janis
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Michael Janis