Tupelo Data Room
Hair Salons & Barber Shops, Tanning Salons
Active

Turn-Key Hair and Tanning Salon

Allegan County, Michigan, United States
listing image
Asking Price$209k
Revenue$386k
EBITDA-
Cash Flow$78k
Description
This longstanding, profitable salon has been serving clients for 25 years. Six hair stylists utilize the seven cut stations, four shampoo bowls, and three color stations. Three share-time employees and the owner serve at the reception desk and also book the five tanning rooms. The seller is willing to stay on after the sale if asked to do so. This location is the only tanning salon in the area. Sales from tanning covers most of the overhead costs. The stylists work as W-2 employees on a commission split for hair services; no commission is shared on income from tanning. Vacation pay is the only benefit offered. The buyer could hire an office manager to perform the seller's current tasks. The seller currently works 35 hours per week in the business. The salon is open six days per week. In 2010 the business moved to its current location near the intersection of an interstate highway and main road into town with average traffic counts of over 10,000 vehicles per day (Source: MDOT). An apartment complex is slated for development next to this location. The seller owns the real estate and will negotiate a market rate lease with the buyer of the business. The business occupies 2,368 sf in a freestanding building. Lighted signage is prominantly displayed on the front of the building and there is ample dedicated parking at the front and side of the building. Inventory is additional, estimated to be between $8000 and $10000 in value. For more details about the business, buyers are asked to complete an NDA and buyer profile. Contact the listing agent for further information or to request a showing.
Real Estate
Rent is $3,000 per month
Building Size: 2386 sq. ft.
Inventory
$10k
Number of EmployeesFull-Time: 6Part-Time: 3
Year Established
2000
Reason Selling
Seller prefers to let go of management responsibilities.
Facilities & Assets
Freestanding building along major thoroughfare near an interstate highway 2386 sf available for lease Ample dedicated parking Excellent visibility from street Reception area, retail area featuring hair products and other goods, six cut and style stations, two shampoo bowls, three color stations, five tanning rooms, office area, back room with storage and washer and dryer.
Support & Training
Seller is willing to train.
Market & Competition
The area is expanding with an apartment complex under construction adjacent to the salon. Location is situated about halfway between two larger market centers.
Growth Opportunities
One more stylist could be added - one workstation is currently empty. Buyer can expand social media presence and advertising. Buyer also has the option of being open one additional day per week.
Financing Options
Seller financing is available.Cash or new mortgage is preferred. Seller financing is negotiable.
Asking Price$209k