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Hairdressing Salon for Sale, Washtenaw County, MI

Washtenaw County, MI

Seller Financing Available
South side, 4 stations
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Asking Price: $159,900

Cash Flow: $53,575

Gross Revenue: $159,500

EBITDA: N/A

FF&E: $49,100

Inventory: $5,140*

Rent: $1.21 /Month

Established: 1998

*not included in asking price.

Hairdressing Salon for Sale, Washtenaw County, MI

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Business Description

The Business, in brief

Initially, we were franchisees of a major national hairdressing chain. We studied, learned and acquired the industry’s most advanced systems and procedures. After 7 years in business, we purchased our freedom and have, since 2008, operated as an independent, stand-alone salon. Point-of-Sale software, bookkeeping, record keeping, payroll and tax filing are run according to strict professional standards.

We offer a very broad range of haircutting and hairstyling services. including all styles of cuts for men, women and children, full-color services, including highlight and lowlight, ombre color techniques, all perm services, facial wax, mustache trim, and beard trim. The retail sale of shampoos and hair conditioners are a minor sideline, financially, but has the important benefit of focusing more of the customers' attention on their hair.

We are continuously challenged to keep abreast of ever-changing styles. From magazines, trade shows, product application literature and requests from our guests, there is no shortage of input. This dynamic keeps the staff of a styling business alert and motivated; it gives our salon its vitality.

40% of our guests make an appointment before arriving
50% of our guests request a specific stylist
10% of our guests are new
30% of our guests, when they arrive, have no firm decision on the style or hair treatment they want and rely mainly on the recommendations of the stylist.

The kid's play area, equipped with toys and video, is located where parents can keep an eye on what they are up to. This separation prevents the stylist getting distracted while working on an intricate updo, and -equally important - prevents the youngster from being distracted while working on an intricate puzzle.

Detailed Information

Location:
Washtenaw County, MI
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
1,790
Lease Expiration:
10/31/2019
Employees:
6
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
We are located in a well- supported and conscientiously-maintained shopping mall, built in 2003. The fully equipped salon's internal layout and leasehold improvements were custom-designed by the Ann Arbor architectural firm Van Curler Associates. The central vacuum system, as an example, keeps the floor at restaurant level of cleanliness and helps the stylists complete their work after each guest's haircut or trim.
Competition:
We are the value leader in our market, and among the very last to resort to pricing increase. Hairdressing is one of the most chatty of industries, so we receive plenty of intelligence on what is happening at ( and to ) our competitors, including reports from some of their unhappy customers who come to us for repairs. Our guests are also the best information channel regarding the local economy and how it affects our customer base, so when there is an opportunity to expand, we learn from them.
Growth & Expansion:
In recent years, financial performance has settled into a reasonably stable growth trend. We benefit from the economic growth in Washtenaw County, which is centered on the University of Michigan's main campus, plus the bedroom communities to the west. In our immediate vicinity, we are located within a community of loyal customers. As we take care of the hairdressing requirements for weddings, homecomings, reunions and a host of family celebrations, we fulfill our role and responsibilities to the community of which this business has become a part.
Financing:
Buyer's down-payment = $79,900. Remaining $80,000 can be Seller-financed.
Support & Training:
Our stylists have been with us for many years, and we generally do not recruit inexperienced stylists. There is extensive pier-to-pier advice and suggestion on the finer points of styling and on the individual preferences of some of the guests. The current owner, though anxious to retire, will, if required, continue to serve for a few months to ease the transition.
Reason for Selling:
Owner wishes to retire.
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Business Listed By:
Peter Huntley

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