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SW1423 ATTRACTIVE AND VERY PROFITABLE HAIR SALON – Ilminster, Somerset

Ilminster, Somerset
Leasehold Price:
£6,000
Status
FOR SALE
Advert ID
167264
Reference
SW1423 / Rightbiz
LOCATION:
The town of Ilminster, which has a population of c 5,800, lies just east of the junction of the A303 (London to Exeter) and the A358 (Axminster and Chard to Taunton). Also serving a significant rural catchment area the town has developed over recent years. A Tesco supermarket opened in the very heart of the town in November 2007.

BUSINESS:
This attractively presented unisex hair salon occupies a good trading position just a few steps from the principal town centre thoroughfare on the main vehicular access route to the Tesco supermarket which lies almost immediately to the rear of the premises.

Presented in good order, there are 5 styling positions, 2 back-wash stations, one front wash station, a small kitchen/staff room and a WC facility.

Running costs are very low in comparison with many town centre premises and this has enabled the current owner to generate an excellent profit based upon relatively low working hours.

This is an opportunity not to be missed and a detailed analysis of the trading figures and a viewing are strongly recommended.

YEARS ESTABLISHED:
The business operated as a partnership under a different trading name from 1989 until 2010 when the partnership was dissolved. A new trading name was adopted from this date, the vendor having operated as a sole trader since that time.

TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £63,686 were reported for the year ended 31 March 2016. This generated an excellent abridged net profit of £21,273 for the year after wages of £29,977 but before accountancy and depreciation charges.

It should be noted particularly that this profit has been delivered with the vendor working 26 hours per week throughout most of the year, extending her hours only when necessary to cover other staff absences.

REASON FOR SALE:
Health reasons.

STAFF:
The vendor works approximately 26 hours per week and usually goes home around 2.30pm daily. She is assisted by one full time stylist, one part time stylist and a part-time cleaner/shampooist.
.
OPENING HOURS:
Tuesday, Thursday and Friday: 9.00am to 5.00pm
Wednesdays 9.00am to 16.00pm
Saturday: 9.00am to 1.00pm
Sunday and Monday: Closed


BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The salon occupies part of the ground floor of a terraced property arranged over two floors under a pitched roof. There is a flat at first floor level which is let under an Assured Shorthold Tenancy by the same landlord but which does not form part of the salon lease.

A metal security gate to the front elevation gives access to a covered lobby which leads to the entrance door of the flat as well as the entrance door to the salon itself. The wheelchair friendly salon enjoys a mainly glazed frontage comprising 3 plate glass panels in a wooden frame to the front elevation with very prominent signage over. The side elevation within the lobby is also mainly glazed and incorporates a fully glazed entrance door which opens into:

Retail Salon (6.0m x 4.8m approx):
Ceramic tiled floor. Suspended ceiling with fluorescent lighting and inset spotlighting inside the front windows. 3 x styling positions to side wall each with fitted wall mirror, leather effect styling chair and power to side. Two island styling positions, centrally set but without power. 2 x back wash stations (one with electric water heater over for use in emergencies) and 1 x front wash station to the rear wall, each with matching chairs and with part tiled wall behind. 4 x fixed drying stations inside the front window. Two seater leather effect settee for waiting clients. Storage heater. 3 x wall mounted towel racks. 2 x small, wall mounted product units behind the wash stations. Portable dryer. Further freestanding product display unit. Small roll edged work surface accommodating electric till with shelf under. A wooden door to the rear wall opens to:

Kitchen/Staff Room (3.2m x 2.4m max):
Irregular shape. Fixed panel windows to side elevation. Stainless steel sink unit with single drainer to side set into roll edged work surface with tiled splash back, single fitted floor cupboard, fitted washing machine and further storage space under. Run of fitted wall cupboards. Tall open fitted cupboard unit for storage. Further wooden shelving unit used for stock. Wooden door to cupboard housing unvented hot water cylinder (using off peak electricity) connected to a pump to maintain water pressure to the wash stations. A further wooden door gives access to:

WC:
Carpeted. Wall mounted ceramic wash basin with tiled splash back. Space for cloaks. Wooden door to single cubicle with low flush WC. Fitted wall shelving.

Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.



PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)
None. The landlord does own the flat immediately above the salon, which we understand is let on an Assured Shorthold Tenancy, and we assume that this may become available to rent at some point in the future.

LEASE TERMS:
The premises are held under a 10 year lease from 2010 drawn on shop front and internal repairing and insuring terms. Rent of £1,212.50 is payable quarterly (£4,850 pa).

ENERGY PERFORMANCE RATING:
Energy Performance Certificate No: 0580-0130-8109-8109-5002
Energy Performance Asset Rating: 127 Category F
Listing Details
Leasehold Price: £6,000
Tenure: Leasehold
Location: Ilminster, Somerset
Sector: Hair & Beauty, Hairdressers
Financials
Annual Turnover: £63,686
Annual Net Profit: Available upon request
Key Features
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Advert Reference: SW1423 / Rightbiz

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The data showed regarding this advert 'SW1423 ATTRACTIVE AND VERY PROFITABLE HAIR SALON – Ilminster, Somerset - SW1423 / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.