Sectors / Category

Annual turnover

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  • Mandate: 33328
  • Added: 13 Aug 2019
  • AFS
  • 57

Professional, upmarket and well established hair salon

KwaZulu-Natal,
57
Mandate 33328
Added 13 Aug 2019
R 1,300,000* ZAR
Stock: R 50,000
Assets: R 50,000
R 46,629 ZAR
Nic Nortje
(PRINCIPAL)
Aldes Prestige
KwaZulu-Natal, Hillcrest
KwaZulu-Natal, Hillcrest
Summary

Professional, upmarket and well established hair salon
SELLING PRICE AFS
R 1,300,000* ZAR
Stock: R50,000
Assets: R50,000
R 46,629 ZAR
Summary

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Fully describe the business's activities?
A professional, upmarket and well established hair salon that pays attention to every detail. "Passion for hair is our creative flair..."

How long has the business been established?
31 years

How long has the owner had the business?
since inception

How does the business operate on a daily basis?
Bookings/ appointments are made and clients attend the salon.

How are the clients attracted to the business?
A large number of clients form the core of repeat business. New clients are often referred via word of mouth. Clients stay loyal for extended periods of time due to the particular care and attention that each person receives.

What Advertising/Marketing is carried out?
In addition to word of mouth, social media is used, being facebook and instagram

Does the business have any contract work?
No

What competition exists?
Naturally there are other salons in the vicinity but none with the same sized repeat customer base due to the exceptional reputation of this salon.

What are the seasonal trends?
No real seasonal flux - the salon is busy all year round - with a slight decrease only in February.

Is the business VAT Registered?
No

What VAT documentation is on file?
N/A

Are there up-to-date Management Accounts available?
Yes - year to date

What Balance Sheet and Income Statements are available?
Draft AFS 2019

What percentage of the business is cash/credit?
NO accounts. All direct income comprised of 30% cash and 70% credit card.

What is the age analysis of the debtors book?
N/A

How could the profitability of the business be improved?
The business is optimally structured and staffed, expenses are kept low. Sales can be increased with a vigorous marketing campaign.

Is Seller finance available and for what amount?
No

What is the total staff complement?
5

Give a breakdown of staff/ functions/ length of service?
1 x receptioninst 2 x shampooists 2 x hairstylists

Do any receive special perks or incentives?
No

Are they on contract?
No, all staff are permanently employed.

Do any have management potential?
Yes

How involved is the Owner in running the business?
Fully involved - day-to-day management

When does the current lease end?
January 2021

Is there an option of renewal & what period?
yes, another 2 years

What is the annual escalation %?
10%

What are the trading hours?
Tuesday to Friday, 8.00am to 4.30pm Saturday 8.00am to 1.00pm

What is the square meters of the business?
80sqm

Who is the Owner/Landlord?
A Trust

Is a copy of the lease available?
Yes

Do you require a licence?
No

What lease deposit and/or other surety is required?
One month's rent and personal surety.

What are the main assets of the business?
Furniture, fittings, general salon equipment

Are any items not included in the sale?
No

What is their overall condition?
Good

Do any require repairing?
No

How have they been valued ?
Replacement value

Which assets are on lease/HP and with whom?
No

What are their settlement amounts?
N/A

Are they presently insured?
Yes

Strengths?
Well established business; excellent reputation; solid track record over 3 decades; very professional business

Weaknesses?
Not in a shopping centre

Opportunities?
Creative marketing by collaborating with like-minded individuals and businesses to host events like makeover evenings and networking.

Threats?
None.

What is the reason for the sale?
Retirement

Why is this a good business?
A buyer would step right into the seller's shoes and continue with large, loyal client base giving repeat business. No setup costs or time lag building reputation - this business is profitable from day one. The owner will continue for up to 6 months with handover, client introduction and transition.

What is the price plus stock and the profit?
R1 300 000

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FRANCHISE DETAILS

Aldes Prestige

2 members
11 active mandates
KwaZulu-Natal , Hillcrest
4 Plantations 47 Shongweni Road
Hillcrest
4016

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