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Established Tanning Salon In A High Footfall Area

Luton, Bedfordshire
Leasehold Price:
£39,000
Status
FOR SALE
Advert ID
253177
Reference
B05720 / Rightbiz
Business
Hilton Smythe welcomes to the market Avangarda, a tanning salon and tattoo parlour located close to Luton town centre. The business itself is located on New Bedford Road within a Grade II listed building opposite a major gymnasium that generates around 15% of the business’s custom.

Avangarda was opened by our client in 2007 and has been successfully run by our client ever since, however, our client is now selling as they wish to relocate.

Avangarda is an established tanning salon in a high footfall area with many returning customers. There are 4 tanning rooms along with a treatment room to the rear of the premises where tattoos are carried out 3 days a week and lip fillers etc are carried out 2 days a week. 50% commission is paid to our client for use of these rooms.

Avangarda has great reviews across the board and many repeat customers for all elements of the business. Reviews include 4.7/5 from 161 reviewers on the businesses own Facebook site and 5* reviews on both Yell and 192. The business does not have a website, and this is something that the new owner may consider in order to promote the business further.

There are many reasons to buy Avangarda including:

  • Long established business within the area.
  • Strong returning customer base.
  • High footfall area.
  • Reasonable outgoings.
  • New 10-year lease from October 2019.
  • Possible use of rear treatment room 7 days a week.
Hilton Smythe highly advise early viewing to avoid disappointment.



Location
Avangarda is in central Luton, Bedfordshire in a prime location close to the mall and therefore in a high footfall location.

Avangarda is located on the ground floor of a grade II listed building with distinctive signage and original tile work beside the entrance door. Directly opposite is a main gymnasium which generates custom for the business. Parking in nearby car parks.

Luton is a large town located off M1 with a population of 214,109, international airport, plenty of industry and is the home of Luton Town Football Club.



Premises
The business is entered directly of the main road and into the waiting/reception area.

Within this area is soft seating for several people, reception desk with product shelving behind, wood flooring.

Off the reception are the 4 tanning rooms and rear treatment room.

Tanning rooms 1 & 2 have Ergoline tanning beds.

Tanning rooms 3 & 4 have upright Sunrise 480 tanning stations.

The tattoo room has seat, shelving etc.

To the rear of the premises is the kitchen and toilet.

The premises have a CCTV system and audio system.



Tenure
We are advised the business is being sold as a leasehold business opportunity with a 10-year lease from October 2019.

The annual rent is £16,800 and we have been informed that the premises is business rates exempt.



Hours
Monday - Friday: 10am – 8pm

Saturday & Sunday: 10am – 6pm



Staff
The business is run and managed by our client, with the help of 2 members of staff.

There is also a self-employed tattoo artist and a self-employed doctor who currently operate from the rear treatment room.



Financial Profile
Avangarda generated an advised turnover of circa £82,500 as of the 2019 accounts, with a gross profit of 63%, a net profit of 36% and an adjusted net profit of 61%.

The sunbeds will be sold with the business for an extra £20,000.

Or they can be rented at circa £1,400 per month at the advertised asking price.

Other assets are worth in the region of £5,000.

The average stock is worth in the region of £500.



Listing Details
Leasehold Price: £39,000
Tenure: Leasehold
Location: Luton, Bedfordshire
Sector: Tanning Salons, Tattoo Studios
Financials
Annual Turnover: £82,511
Contact Agent
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Advert Reference: B05720 / Rightbiz

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