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THIS BUSINESS IS NOW UNDER OFFER

HIGHLY PROFITABLE TURNKEY HAIR SALON BIRMINGHAM THE OPPORTUNITY ETS Corporate a

Birmingham, West Midlands
Leasehold Price:
£99,995
Find more details, or book a viewing:
Status
UNDER OFFER
Advert ID
236493
Reference
13345 / Rightbiz

Details

Highly Profitable Turnkey Hair Salon, Earnout Available, Birmingham

 

 

The Opportunity

ETS Corporate are pleased to place on the market this highly profitable hair salon. It is in a very affluent and busy location within Birmingham. The salon was established in the 1960’s and the present Owners have been there since 1987.  The salon turnover is in excess of £750,000 pa, with a net profit in excess of £130,000. The Owners would be available to stay on in the business for up to 3 years after a purchase. The business is a turnkey operation with 30-35 staff.

 

 

Location

The Salon is at 71 High Street Harbourne Birmingham B17 9NS. The location has a very high footfall, being is a very commercial and affluent area of the city. It has good public transport links and a large paid car park to the rear. It is a prime High Street location which has Marks and Spencer and Waitrose very close by. The client base is from Birmingham overall and specifically South of Birmingham City Centre.

 

The premises are very well presented and are over 3 floors. A video of the premises and photographs is available at https://youtu.be/xX_ZuOA13DA

There are 17 workstations on the ground floor, with a further 5 on the first floor. The Second floor is used for storage and offices and has potential for 2 therapy rooms.

Please go to the link https://www.ets-corporate.com/nda where this document is available.

 

 

Business Details

This very well presented, and very profitable hair and beauty salon was established in the 1960’s and the Owners are now looking to retire.

 

The present salon was opened in 1987, (the original salon was established in the 1960’s) by Adrian Taylor and Terence Marshall, who originally both worked in city Centre top salons. The salon was taken over as a small single floor salon with a two bed maisonette above. The previous salon’s staff of 8 were taken on too and they added their own handpicked team of 6. The business rapidly expanded so much so that in 1992 Terence and Adrian purchased a long lease of the property (125 years) and expanded the salon upwards to a three storey business by using the maisonette floorspace. Suyo entered many hair competitions resulting in many front covers of magazines and was runner up in British Hairdresser of the Year competition in 1999. The salon featured in Vogue and hair magazines 1998-2001. There were major salon refurbishments in October 1987, September 2005 and July 2014. They have been a Premier salon with Wella since the salon opened. They moved away from editorial to concentrate on business growth and the team grew to 40 staff and a turnover of £1million plus in 2014/15. Many unsuccessful attempts were made to expand to more than one unit across the city but deals for one reason or another did not proceed. They joined 365 Hairdressing business club in 1989 and left in 2006, their advised methods still being the backbone of the business today.

 

The salon offers colour and colour correction, ladies cutting and styling, wedding hair, barbering and gents’ styling. There is potential to expand the beauty service which only offers a limited service and forms only 1% the turnover.  On the retail side, various high-quality products are stocked and this side of the business forms around 9% of turnover. The website for the business is http://www.suyohairdressing.com/

 

The salon has an active client base of over 5,000 from all over Birmingham, and specifically the South of Birmingham City centre. They have hired an external marketing company that helps bring in new clients. Around 90% of turnover is repeat business. They are the number 1 choice in the area and the premier salon, despite stiff competition.

 

There are 30-35 staff employed. The owners, who are full time hands on in the business will also be staying on in the business. All staff would be covered by the TUPE legislation and will be transferring with the completion of the transfer of the going concern.

 

What are the Unique Selling Points of the business?

 

  • Excellent High Street location
  • Very well known and established salon
  • A loyal and experienced team
  • Lots of potential
  • Premier salon in the area
  • 5-star service and very good reputation
  • Financially very successful and year on year profits
  • Management team staying on in the business

 

The owners are willing to stay on in the business in whichever role is required of them for up to 3 years ensuring maximum client and staff retention. The Owners feel a younger management team could add services to existing ones and could double turnover with different shift patterns and days and also adding beauty, cosmetics, chiropody services and more retail.

 

Financial Details

The annual recorded turnover has consistently been around £750,000 with a net profit in excess of £130,000. The total assets are valued at around £10,000 excluding stock. Full accounts and an information memorandum will be made available once an NDA has been signed.

 

Property Details

The premises are very well presented and are over 3 floors. A video of the premises and photographs is available at https://youtu.be/xX_ZuOA13DA

There are 17 workstations on the ground floor, with a further 5 on the first floor. The Second floor is used for storage and offices and has potential for 2 therapy rooms.

Please go to the link https://www.ets-corporate.com/nda where this document is available.

 

Trading Hours

Monday       9 am - 5-30pm

Tuesday      9 am-  5-30pm

Wednesday 9 am - 8pm

Thursday     9 am- 8 pm

Friday          9 am - 7pm

Saturday      9 am - 6pm

Sunday         Closed

 

 

 

Tenure                                                       

The Owners have the benefit of a very long lease and are looking to negotiate terms with a new tenant. They will be flexible on a rental term and are looking for a rent in the region of £52,000 pa.  

 

Ref:    13345

Price: £99,995 

 

 

 

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.

 

 

Seller Details
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Listing Details
Leasehold Price: £99,995
Tenure: Leasehold
Sector: Hairdressers, Beauty Salons, Hair & Beauty
Financials
Annual Net Profit: £130,000
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Location Statistics
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