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Beautifully Presented Beauty & Tanning Salon

City of London, London
Leasehold Price:
£249,950
Status
FOR SALE
Advert ID
244820
Reference
B05322 / Rightbiz
01204556300
Business
Hilton Smythe are delighted to present to the market a highly renowned Beauty and Tanning business, originally established in the area 20 years ago. Our client purchased the business in 2012 and embarked on a new focus to build the beauty side to complement the already successful tanning side established by ‘The Tanning Shop’ franchised model.

Due to the growing success of our client’s other family run business, the ‘Turnkey’ opportunity is now offered for sale. The business includes a new 15 year Lease.

Since purchasing the business our client has invested in the region of £300,000, the majority of which is in the list of beauty equipment which will be included in the sale as well as a new shop front and IT system.

The business is completely staff run; any new owner/manager could significantly improve the efficiencies of the business to increase profit levels. The current team are very well trained which would also allow a very smooth transition.

The business is a featured beauty business on Treatwell, with 270 excellent customer reviews from happy customers, a 4.9/5 Facebook customer score and 4.4/ 5 score on Mylocalsalon site. Other advertising platforms include allinlondon and yell.com.

The combined database includes over 37,000 client details, a tremendous asset to any new owner looking to expand the current choice of services. Our client installed the ‘Short Cuts’ booking system which includes the ability to link to a bespoke business App and Online booking ability, highly desirable in this sector.

 Currently the business is split 65% Beauty and 35% Tanning. Services include:
Laser Hair removal, waxing and facials
Nail manicure, nail extensions and pedicures
Eyelash extensions
Body spa treatments, massage 


We are advised the existing franchise arrangement with the tanning shop will be ending and allow any new buyer to add additional services to some of the rooms occupied by tanning beds.

Within the main reception area our client offers a retail range which includes:
Dermalogica
Nouveau lashes
Makeup essentials to go, nail polishes etc.


We believe there are endless options for any new buyer to increase current turnover levels:
Reduce the number of tanning rooms and offer a monthly rental option for any new beauty therapists.
Increase the range of beauty services
Increase make grooming
Open Sunday’s
Add hairdressing services


We have agreed a very attractive price on the business to gain a quick sale, originally, we would have placed a value of around £300,000 however our client is willing to accept £250,000 to attract the right buyer.

Full business handover offered



Location
The Tanning Shop and Beauty enjoys a central trading position on Chase Side in Southgate, North London.

The business sits along a busy street of independent retailers, high street banks and building societies, restaurants and bars, coffee shops, Boots chemist, busy Tesco metro store as well being close to the local doctor’s surgery, Oside Primary school, college and library.

The entire parade benefits from both the Southgate tube station and Main bus station being located at the top of Chase Side.

Southgate is a suburban area of north London, 8 miles north of Charing Cross. The name is derived from being the South Gate to Enfield Chase.

There are pay and display parking available in the adjacent streets.



Premises
Reception area - customer leather waiting chairs, 2 x glass display cabinets, curved reception desk with 2 x pcs and storage, rear tanning cream shelving, brow station unit.

Nails - 2 x fully equipped nail stations which include 2 x display cabinets and 2 cordless nail machines

Treatment Room 1 - Elemis Biotec machine, waxing equipment, trolley, electronic bed, hot towel cabinet, bespoke fitted sink and vanity unit.

Treatment Room 2 - as above

Treatment Room 3 (laser room) - treatment bed, Soprano Ice Plat (£75,000) hair removal and skin tightening machine, Lip Sculpt machine, Electrolysis machine

Managers office

Tanning Room 1 - currently empty ready for a new beauty Room

Room 2 - Alisun 600 watt stand up

Room 3 - Luxura stand up

Room 4 - Ergoline Prestige 990 lie down

Room 5 - Ergoline Prestige 990 lie down

Room 6 - Ergoline Sun Angel lie down

Pedicure room - private room with 2 massage pedi spa’s, wall mounted TV

Customer toilet (disabled friendly)

Storage cupboards

Staff kitchen - with washing machine and dryer



Tenure
We are advised a new lease is in place with 14.5 years remaining on a 15 year lease paying £41,250 per year, rates payable of £13,000

Hours
MONDAY - 9-5.45
TUESDAY - 9 - 6.45
WEDNESDAY - 9 - 6.45
THURSDAY - 9 - 7.45
FRIDAY - 9 - 7.45
SATURDAY - 9 - 5.45




Staff
The business is staff run with 1 x full time receptionist and 5 x part time therapists

Financial Profile
The business generated a 2018 Turnover of £256,828 and an adjusted net profit of £76,350.



Seller Details
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Listing Details
Leasehold Price: £249,950
Tenure: Leasehold
Location: City of London, London
Marketed By: Hilton Smythe
Sector: Tanning Salons, Beauty Salons
Financials
Annual Turnover: £256,818
Location Statistics
What's nearbyi:
City of London Police (approx. 0 mile)
Frost Burgers (approx. 0 mile)
Wrap It Up! (approx. 0 mile)
Steptoe & Johnson (approx. 0 mile)
ABN AMRO Clearing Bank UK Branche (approx. 0 mile)
Scarlet Apt (approx. 0.2 mile)
Boots (approx. 0.2 mile)
St. Botolph's Orthodox Church (approx. 0.5 mile)
Jamie's Bar (approx. 0.5 mile)
giligun (approx. 0.5 mile)
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