Fully describe the business's activities?
The business is an established modern hair studio.
How long has the owner had the business?
The current owner was the establisher of the business 15 years ago.
How does the business operate on a daily basis?
The business operates on a daily basis by offering various services of hair care, treatments, cuts, blows dry, tinting, high lights, and any form of hair styling. The business operates from a modern hair studio in a busy mall .The staff is well skilled and qualified to provide professional hair care services to its clientele and enjoys repeat business from its client base. In addition the positive word of mouth referrals and its prime location continually benefit the business by bringing new feet through the doors .The business also supplies and sells retail hair care products.
What Advertising/Marketing is carried out?
The business is situated in a very busy mall and enjoys an abundance of foot traffic which provided the business with good visible exposure. The salon has good signage and shop front has visibility of the inner operations which lend itself to in house advertising of its services. The business from time to time advertise in the local media and on certain social media platforms .
What competition exists?
There are several such same service providers within the local geographical area in which the business is surrounds itself. This said there is uniqueness with each of them and they all have their client supportive base. The newcomers to the area search and seek out the salon which most meets their expectations. The business enjoys the support of an ongoing strong client base due to its long establishment and professional operators who meet the need of their market and clients.
What is the total staff complement?
The staff compliment comprises 5 employees. They comprise stylists and operators. The seller himself is not active in the business, he does however attend to the product ordering and overall administration of the studio its income and expenditure. There is a staff list available on file for perusal by a serious buyer with their employment and commission structures on.
When does the current lease end?
The current lease expires in 2020. There is an option to renew for an additional 3 to 5 years. The annual escalation is 10%.
What are the main assets of the business?
There is a full assets list on file which comprises operational asset such as dryers, basins, climazone, shop fitting, furniture, computer and printer .The loose tools of the trade such as brushes hand dryers, clips etc. belong to the respective operators / stylist .The salon has recently been revamped and modernized so all the assets are in a very good condition. All the assets are fully paid for and the assets as listed on the asset inventory are included in the sale and purchase price of the business. The assets are insured.
Overview of the business
The business due to its long establishment and operational strengths has a selective supportive client base and continually enjoys ongoing new clientele due to its good reputation. Despite having numerous competitors the business has stood the test of time and competitors. The beauty industry is massive and continuous to evolve and develop with new techniques and fashions. The business and its operators keep abreast with all the rending fashion and products. The seller being in the industry for many years wishes to down scale and spend more time with his family. He feels this an opportune time to hand the salon over to a younger stylist who is entering this domain as the salon is an established platform on which they can make their own name in the industry as this is an opportunity for them to do so.
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Annual Turnover Amount between R 500 thousand and R 6 million