Fully describe the business's activities?
This beauty salon is known in the Industry as a specialist skincare centre. Clients are assisted in all aspects of treating and maintaining their skin. Although they are marketed as a skincare centre, all kinds of therapy are provided, including waxing, manicures, pedicures, micro-needling, massages and gelish nails. They offer a service as well as a retail environment, stocking some of the top brands in the country
How long has the business been established?
The business was established in 2007. Present owner took over in 2015
How long has the owner had the business?
How does the business operate on a daily basis?
The business has a large regular client base, who book their treatments on a regular basis. New clients are introduced via word of mouth and an active website. The business is situated on the side of a small shopping centre and does enjoy some walk in trade. The Salon is very tastefully set out and exudes an air of peace and tranquility.
What Advertising/Marketing is carried out?
The business has a very active website and they make use of Facebook Marketing and other social media. They send out weekly specials via email and WhatsApp
What competition exists?
There are other salons in the area but this is the only one that can be considered a one stop shop
What are the seasonal trends?
The Salon is consistently busy throughout the year. Peak trading times are usually between November and March. A large percentage of clients are repeat clients. The sale of gift vouchers and the proximity of surrounding businesses keep a consistent flow of clients throughout the year.
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
Monthly management accounts are produced using ESP software specifically designed for salons
What percentage of the business is cash/credit?
20% cash, 80% credit card
How could the profitability of the business be improved?
Actively target the local businesses and get involved in their wellness days, proactively approach a local girls school with a special offer. Consider creating a nail bar as nails are not seasonal
Is Seller finance available and for what amount?
What is the total staff complement?
2 permanent beauty therapists 1 temp cleaner
Do any receive special perks or incentives?
Are they on contract?
Do any have management potential?
One of the therapists has management potential
How involved is the Owner in running the business?
When does the current lease end?
End of November 2018. The landlord will be happy to negotiate a 3 year lease with the new owner with an option to renew for a further 2 years
Is there an option of renewal & what period?
What is the annual escalation %?
What are the trading hours?
Tuesday to Friday 08:00 to 17:00 , Saturdays 08:00 to 15:30 Offer late appointments to clients on request
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
What lease deposit and/or other surety is required?
One monthâs rent is required as a deposit
What are the main assets of the business?
A complete asset list is available
Are any items not included in the sale?
What is their overall condition?
Good to very good
Do any require repairing?
How have they been valued ?
Owners' valuation of R218k
Which assets are on lease/HP and with whom?
Are they presently insured?
Established business with a loyal client base Great products and professional service
The business is not open on Mondays
The premises lends itself to adding a permanent nail bar which would increase turnover and profit Opening for business on Mondays will definitely increase business Business will also increase if the new owner is a qualified therapist
There are other salons within a kilometer of this one but they do not offer the full range of services that this one does
What is the reason for the sale?
The owner is emigrating
Why is this a good business?
The salon has been operating for many years in the area, and the turnover has increased from year to year. It is beautifully furnished and presents a tranquil and professional haven for clients to enjoy professional beauty treatments. The salon is ideally situated in a busy residential and business area
What is the price plus stock and the net profit?
Asking price is R495 000 excluding stock of approximately R75 000. Total selling price of R570 000 Net profit is R346 000 per annum
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