Established Llandudno Hair Salon Boasts Profitability and Growth Since 1999
Llandudno, Conwy
- Status
FOR SALE
- Date Submitted:
10/11/22
- Advert ID
503505
- Reference
13431 / Rightbiz
- Call Agent:
- Leasehold: £59,995
- Rent: £12,000
- Turnover: £190,000 (£3,654 Per week)
- Net Profit: £26,000 (14% Profit margin)
Key Features
- Prime Location
- Unique Business
- Established Business
- Accounts Available
- High Turnover
Business Details
PROFITABLE LONG ESTABLISHED HAIR SALON LLANDUDNO
enigma hairdressing ltd
REFERENCE NUMBER: 13431
Addresses of businesses: 6, Llewelyn Avenue, Llandudno, Conwy, LL30 2ER
Website: http://www.enigmahair.uk/
Full details of the business, accounts and a valuation report are available upon signing of an NDA.
The Opportunity
The business was established in 1999 by the present Directors and has grown into a turnkey operation. They also own the freehold of the premises and wish to pursue other interests. They have other income.
The business is staff operated, with eight staff. One of the Directors, Joanna, is still involved in the business when required, but it is a fully staff-run operation.
The turnover for 2022 is £190,479 with an EBITDA of approximately £26,164
Location
It is located in the popular and busy seaside town of Llandudno in North Wales. It has unlimited parking directly outside the premises and within a walking distance of the salon. Most of the clientele are from within a 20-mile radius.
· Llandudno is a busy and popular tourist seaside resort.
· There is good road infrastructure with close proximity to main A55 route.
· Located just off main street of town centre.
· There are plenty of public car parks as well as street parking outside Salon
· Attracts both tourists and local people in surrounding areas.
Business Details
The business was established in 1999 by the present Directors and has grown into a turnkey operation. They also own the freehold of the premises and wish to pursue other interests. They have other income.
The business is staff operated, with eight staff. One of the Directors, Joanna, is still involved in the business when required, but it is a fully staff-run operation.
SCOPE FOR DEVELOPMENT
· Retail business could easily be promoted
· Hair extension service could also be promoted
· The full capacity of the salon is 8 x 39 which is 312 hours per week. Current levels are 177.
Products and Services
The following services are provided:
· Colour services
· Cutting
· Perming
· Wedding/hair up
· Kerastraight treatments
Their main retail product range
· Paul Mitchell
· Loreal
· Kerastraight
Trading Hours
Monday 9.00am - 6.00pm
Tuesday 9.00am - 6.00pm
Wednesday 9.00am - 6.00pm
Thursday 9.00am – 8.00pm
Friday 9.00am – 7.00pm
Saturday 9.00am – 5.00pm
Sunday Closed
Financial Details
Before Covid, in 2019, the turnover was £212,527. The turnover for 2022 is £190,479, with an EBITDA of approximately £26,164
Property Details
A full description of the property and valuation report are available upon signing of NDA.
Ground floor
• Entrance Hall
• Main salon with 6 workstations
• Staff/storeroom
• Enclosed courtyard to rear
First Floor
• Additional Salon with 2 workstations
• Toilet
The Owners have 2-holiday flats which is separately rented.
A full video of the premises is available on the following link: https://youtu.be/1bwqB0XJVDA
Tenure
The Owners of the business also own the freehold of the property and are flexible on the granting of a lease. The rental will be £12,000 pa.
Ref No: 13431
Price: £59,995
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.
Contact Agent
Energy Performance Certificate (EPC)
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.
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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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