Fully describe the business's activities?
This ethnic hair salon is situated in a busy mall in the East of Pretoria and also offers services such as nails, eyebrows, eyelashes and beauty retail items.
How long has the business been established?
The owner started the business 18 months ago.
How does the business operate on a daily basis?
Stylists open the business daily and service clients per bookings as well as walk-ins.
How are the clients attracted to the business?
- Well-known brand - Social media
What Advertising/Marketing is carried out?
Mostly social media advertising.
What competition exists?
Other salons in the same mall
What are the seasonal trends?
The business is still in its growing stages
Is the business VAT Registered?
What percentage of the business is cash/credit?
No credit 100% cash
How could the profitability of the business be improved?
More stock needs to be carried in order to offer a wider variety of services and retail items.
What is the total staff complement?
Stylists varies between 2-4
Give a breakdown of staff/ functions/ length of service?
Stylists and Receptionists 1 Â½ to 2 years
Do any receive special perks or incentives?
Salaries are determined by the number of clients seen and are % based.
Are they on contract?
1 Person is on contract
Do any have management potential?
Yes, the person who is on contract.
How involved is the Owner in running the business?
Owner is employed full time and only manages the financial part of the business.
When does the current lease end?
In the next 2 Â½ years
Is there an option of renewal & what period?
What is the annual escalation %?
What are the trading hours?
9:00 - 20:00 Monday to Thursday 9:00 - 21:00 Friday to Sunday
What is the square meters of the business?
Who is the Owner/Landlord?
What lease deposit and/or other surety is required?
What are the main assets of the business?
Salon Set-up Working Tools
Are they presently insured?
Brand new equipment Great Location
Owner is not involved Not enough cash flow to carry more stock
Carrying more stock will grow the retail side and enable to provide more services
Other than being a growing business none were identified.
What is the reason for the sale?
Owner does not have the time to spend on the business
Why is this a good business?
Situated in a busy mall Good staff and systems in place. Business is still growing
What is the price plus stock and the profit?
Selling Price of R500 000
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