Hollywood Area Hair Salon On Major Throughway
www.GlobalBX.com
Listing ID:
700330807
Listing Title:
Hollywood Area Hair Salon On Major Throughway
Quick Link:
http://www.globalbx.com/listing.asp?bId=330807
Industry:
Hair and Beauty
Industry Segment:
Beauty Salons and Barber Shops
Country:
United States
State / Province:
California
Area
Southern California - Los Angeles Area
City:
Los Angeles
Asking Price Range:
$250K - $500K
Gross Revenues:
$538,894
Cash Flow:
$127,687
Cash Flow Type:
Sellers Discretionary Cash
Year Established:
2002
Number of Employees:
6 - 9
Business Description:
This Hollywood area salon opened its doors nearly 20 years ago and always has been a place known for the exceptional service, talented stylists, warm and inviting atmosphere as well as exiting exhibitions. The salon is located in one of the trendiest streets in Los Angeles that continues to benefit from rapid ongoing development. The owner is willing to remain at the salon and rent 1-2 chairs. The salon has several full-time employees who are on a 50% split, a monthly renter and an independent contractor. The salon provides shampoo, hair color, towels and tunics for its clients.
Asking price: $250,000
This light filled 1,500 square foot salon leases for $4,900 per month on a lease that expires in August 2021 with one three year option. Given the location's popularity as tourist destination and a major throughway for residents and commuters, this lease rate is deemed to be below market. The salon has 8 hair stations as well as 4 wash sinks, 2 drying seats, a spacious reception area, a coloring room and a manager's office. All of the business's furniture, fixture, equipment and goodwill will be included in the sale. Approximately $2,000 in inventory will be sold at cost at close.
While competition certainly exits in this extraordinarily popular area this venue has developed what they feel is a remarkably loyal client base. In fact, some clients regularly return to the salon from other countries. Given the location's tremendous street exposure, convenient access and remarkable lease rate, as well as the seller's willingness to remain a team member, this salon has many attributes that competing venues will likely find difficult to match.
New operators may take this opportunity in any number of directions. If they are hair technicians or other complementary service providers they may bolster revenues via the addition of their client base.
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