Adams & Co - Business Transfer Agent, Business For Sale UK

£24,950 / UNISEX HAIR SALON NEAR LYMINGTON / ref: HW1418

Full particulars.

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FULL PARTICULARS

LOCATION:

The salon trades from corner premises on the main street, in the centre of a charming, affluent, coastal village between Bournemouth and Southampton. The village, close to a magnificent stretch of coastline, is on the edge of the New Forest and provides all the services necessary to residents. There is easy access to a mainline train service to Waterloo. The residents are predominantly retired, but with numerous places to visit, to suit every taste and all ages, there is a significant year-round tourist trade. The Dorset coast and The New Forest offer tourists and residents a wide variety of leisure options. The town is ideally situated between the commercial and cultural centres of the Bournemouth, Poole and Christchurch conurbation and Southampton. The Bournemouth area has a number of colleges and language schools and consequently, a large student population. The historic cities of Salisbury and Winchester are within easy reach.

BUSINESS:

Close to the New Forest in the centre of a sought-after, affluent village, this popular and profitable hair salon was established 16 years ago. The Vendor has operated the salon for the past 12 years with 95% of her turnover from ladies, 5% from men. The salon offers 6 dressing-out positions and 2 backwash stations. Approximately £600 per week is generated from Shampoo and Sets at £11.50 and Cut and Blow-Dry's at £27; £300 per week from perms from £44 and £300 is generated each week from colouring. The salon opens for business 5 days per week. With generally only two stylists on duty each day, there is scope to grow the business since there are usually three or four empty chairs. By recruiting more stylists and working full-time, a new owner could rapidly grow the business. However, the Vendor is now looking to retire.

BUSINESS PREMISES:
(all sizes are approximate and should be considered 'nominal'.)
Offering approximately 500 sq ft of internal space, these corner premises measure 17'8" (5.4m) wide by 29' (8.7m) deep. There is a Customer Reception desk and an area for customer coats and gowns. There is a staff kitchen and toilet facilities. The light and airy salon area is mainly covered with carpet tile with vinyl tiles around the dressing-out stations for easy cleaning.
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

BUSINESS PREMISES (contd):
(all sizes are approximate and should be considered 'nominal'.)

The many windows are shaded with venetian blinds and the salon is illuminated via spotlight arrays. Ceiling fans have been installed. 5 hooded dryers are included in the sale.

TENURE:

The premises are secured on a renewable, fully repairing and insuring 5 year lease which commenced in 2008 at a current annual rent of £8,580. A new 5 year lease at an opening rent of £11,000 will be offered if preferred.

RATES:

The rateable value of the business premises is £7,500 with rates of £1,809 payable in 20011/12. With Small Business Rate Relief, the Vendor pays £785.38 per annum.
NOTE:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.

SERVICES:

We understand from the vendor that all main services are connected to the property.

TRADE:

Accounts for the business inspected by Adams and Co show turnover for the year ended 5 April 2011 to have reached £62,297 with gross profits of £59,188 and annual net profits in excess of £24,000 offering the buyer an excellent return on their investment.
Please note this business trades below the VAT threshold, therefore all figures exclude VAT.

HOURS:

Monday Closed
Tuesday to Friday 9am til 5pm
Saturday 8.30 til 1.30
Sunday Closed

STAFF:

The Vendor works Tuesday, Thursday, Friday and Saturday morning supported by one State Registered Senior Hairdresser who covers the Vendor's absence on Wednesday with the help of one other part time stylist. The salon employs three other part-time staff working 2, 1� and 1 day a total of a total of 36 hours per week.

STOCK:
The vendor informs us that the value of the stock is approximately £400.

LEGAL FEES:

Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.

COMMENTS:

The Vendor has decided it is now time for her to retire, creating an exciting opportunity for a qualified, new working owner to build on the solid foundations laid down over the past 16 years.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.