ABC Business brokers are delighted to offer for sale this recently established hair salon. Selling for personal reasons at less than
start-up cost, this would be an ideal first business.
Location
Situated on a busy junction, the salon is highly visible to cars waiting at the lights and the large footfall that passes throughout the day and especially at rush hour.
The thriving multicultural town of Dagenham (population 160,000) in Greater London has Underground stations at Dagenham East and Dagenham Heathway. There are also National Rail services from Dagenham Dock and nearby Chadwell Heath and London Bus routes 145, 173, 174, 175 and 364 all service the area. Major brown field site housing developments are forecast to increase the population by tens of thousands. Also Thames Gateway redevelopment zone and the extension of the Docklands Light Railway to the area will make this flourishing area even busier.
Tenure
We are advised that the property is leasehold on a renewable annual lease that expires in November. However the landlord is very flexible and a longer lease could easily be arranged depending on the tenant’s wishes.
Rent £10,500pa
Rates £1,700pa
Premises
The business occupies a prominent end of terrace position, with attractive and distinctive external branding. The lock-up premises have an electric shutter at the front and security door to the rear. As can be seen from the photos there is an attractive and well-stocked display cabinet/counter and a fully equipped nail technician table. The salon has a light and contemporary feel, with laminate flooring, three styling stations and two wash stations. To the rear there is a 9.9m2 office that would make an ideal treatment room or tanning room. Behind this is a separate toilet/shower area. There is also another room (2.8m2) leading to the back door, which is currently unused. There is parking for one car to the front plus good parking to the rear.
Trading Hours
Sunday to Friday 9.00am – 7.00 pm
Saturday Closed
Personnel
As the business is not currently generating much income, staff levels are at a minimum. Comprising of the owner, and a beauty technician who works on a 50:50 share basis.
Potential
This business has plenty of scope for expansion/diversification. Not least in the following areas:
The current owner does not work on Saturdays for religious reasons, however altering this is where new owners would make an immediate and profound difference to the takings, as Saturday is the busiest day of the week for most salons.
Tanning and/or spray tanning facilities are an obvious consideration as there is a suitable room and shower facilities already in place (tanning booths can be rented initially to avoid excessive outlay).
There is also space for a separate beauty room, so this aspect of the business can be expanded.
‘Iman’ and ‘Fliori Roberts’ Cosmetic ranges have proved very popular but cash flow considerations have meant that the owner has not been able to achieve its potential.
Whilst the business has had a strong Afro-Caribbean styling, its clientele has been surprisingly mixed. Therefore rebranding in a more neutral style may be advantageous.
There is no company website as such and this should be considered for market awareness, booking and maybe even the sale of hair and beauty products. (The domain name for the business is registered and this is included in the sale price).
Active marketing should be considered to increase turnover. This would be especially useful if it coincided with the introduction of new aspects to the business such as those mentioned above.
Whilst inexpensive to instigate, the ideas above could make this business into a very attractive proposition and the nominal asking price, a very good investment.
Reason For Sale
The owner has a young daughter and is finding it increasingly difficult to juggle home and work life. This has meant that despite having put a lot of work in setting up the salon, the owner has to sell it before it has achieved its potential.
The current owner is more than happy to provide an adequate handover period to provide an opportunity for the new owner(s) to become acquainted with the business, the staff, and the clientele.
Comments
This business would be an ideal add on for a successful salon or salon chain that wishes to expand through acquisition with the minimum or work or costs involved. It would also provide an excellent opportunity for an individual with salon experience who wishes to strike out on their own without the normal start up risks and very little cost.
Price £15,000 Early discussions are highly recommended.
The Next Step
If you require any further information or would like an appointment to view the business. Please telephone 0844 561 1806. Viewing is strictly by appointment only, through ABC Business Brokers and no approach whatsoever should be made directly to the vendor.
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