Successful, Award-Winning Hair Salon in Prime Banbury Location for Sale
Banbury, Oxfordshire
- Status
FOR SALE
- Date Submitted:
12/01/24
- Advert ID
604984
- Reference
13438 / Rightbiz
- Call Agent:
- Leasehold: £102,000 (Stock at valuation)
- Rent: £16,000
- Turnover: £375,000 (£7,212 Per week)
- Net Profit: £40,000 (11% Profit margin)
Business Details
WELL LOCATED, SUCCESSFUL HAIR SALON, BANBURY, OXON
The Opportunity
The business was established in 1983. Lawrence Anthony started as a single hair salon and had in the past expanded into other premium locations including Summertown Oxford. The salon is based at 15 Parsons Street Banbury OX16 5LY.
The salon has won many awards and has remained a highly successful and popular business. Recently after Covid, the business has had to rebuild and is now moving back to its previously successful position.
The Owners, who are a husband and wife team are selling due to retirement. It is operated with 9 staff including 5 stylists. Lawrence continues to remain hands-on in servicing some of his personal client base 2 days a week. He is prepared to continue to do so after a sale.
Location
Lawrence Anthony is in a prominent position in a pedestrianised area in Banbury town centre. The partners also own the freehold of the building.
Location
The location benefits from
· Affluent community
· Prominent location
· Wide demographics
· Easily accessible premises
Property Details
The business is offered with a new lease with negotiable terms for up to 15 years with a starting rental of £16,000 pa.
Ground floor: large reception area, large retail area, 2 barbering chairs, 17 workstations, plus 6 backwashes. Stockroom, laundry room and dispensary. Staff room and 2 washrooms
First floor: Multiple rooms, all empty
Second floor: In need of refurbishment
Front of premises: Corner unit with four large windows and display windows
The rear of premises: 1 back door and 2 parking spaces
No workstations in total: 19
There is a video of the premises which is available on the link below:
https://youtu.be/bC4sJVxxo74
Website/social media
https://www.lawrenceanthony.com/
Facebook – 749 followers
https://www.facebook.com/lawrenceanthonybanbury/
Instagram – 777 followers
https://www.instagram.com/lawrenceanthonybanbury/
Business Details
The Owners are now looking to retire after running an extremely successful business. It is the premier salon in the area and is fully managed and staff operated.
The Unique Selling Points of the business are:
· Central location
· Award-winning salon
· Excellent reputation
· Offer professional yet affordable services
· Very well well-known salon in the area
Trading Hours
Monday 09.00-17.30
Tuesday 09.00-17.30
Wednesday 09.00-17.30
Thursday 09.00-20.00
Friday 09.00-18.30
Saturday 08.30-17.30
Sunday Closed
Financial Details
The turnover for year ended 2022 was £375,151 (not including all the barber business) with an EBITDA in excess of £40,684
The business is sold as a leasehold.
Ref No: 13438
Price: £102,000
Disclaimer
These details do not constitute part of an offer or contract. The statements and descriptions given are made without warranties by Enthuse Transformations Ltd (Trading as ETS Corporate). The information contained herein has not been verified by Enthuse Transformations Ltd; complaints regarding the accuracy of the information contained herein will not be acknowledged. Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations, figures and information given on behalf of the seller. Furthermore, any representations made by any representative of Enthuse Transformations Ltd regarding this business are subject to verification and should be independently corroborated.
Contact Agent
Listing Statistics
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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