Sectors / Category

Annual turnover

|
  • Mandate: 34794
  • Added: 19 Jul 2021
  • AFS
  • 70

Hair Salon with retail sales of hair products

Gauteng, Johannesburg
70
Mandate 34794
Added 19 Jul 2021
R 630,000* ZAR
Stock: R 130,000
Assets: R 270,000
R 45,706 ZAR
Bill Tweedie
(PRINCIPAL)
Aldes Bedfordview
Gauteng, Edenvale
Gauteng, Edenvale
Summary

Hair salon with retail sales of hair products

SELLING PRICE AFS
R 630,000* ZAR
Stock: R130,000
Assets: R270,000
R 45,706 ZAR
Summary

Hair salon with retail sales of hair products

To gain access to more business info
please supply us with your details below

Fully describe the business's activities?
Hair dressing salon with retail sales of hair products to clients

How long has the business been established?
26 years

How long has the owner had the business?
26 years

How does the business operate on a daily basis?
Clients book for hair appointments and are serviced by experienced hair stylists. Clients purchase hair products from in store retail services

How are the clients attracted to the business?
Clients tend to support their hair stylist. Word of mouth generates new clients.

What Advertising/Marketing is carried out?
Word of mouth

What competition exists?
Other hair salons in the area

How did the Covid-19 pandemic impact the business turnover / daily operations?
Impact was negative due to lock down rules enforced by the government. Clients tended to return was lock down rules were eased.

What steps / actions have been taken to combat the effect of Covid-19 pandemic?
Fill PPE protocols are enforced at the salon

Is the business VAT Registered?
No

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

What Balance Sheet and Income Statements are available?
February 2021

What percentage of the business is cash/credit?
Business is 20% cash, and 80% credit card purchases

How could the profitability of the business be improved?
Continuous lock downs have had a negative impact on the business. Once the pandemic is under control, business should return to normal

Is seller open to negotiation regarding other sale options eg assets?
Yes, seller is open to various options that make sense and facilitate both the buyer and seller

What is the total staff complement?
12 permanent and 3 contract workers

Give a breakdown of staff/ functions/ length of service?
Available as part of due diligence

Do any receive special perks or incentives?
No

Are they on contract?
Yes

Do any have management potential?
Yes. When owner was away for a month due to COVID, the business was run seamlessly by management staff

How involved is the Owner in running the business?
On a day to day basis

Any special arrangements for the staff related to the Covid-19 pandemic?
No

When does the current lease end?
Current lease is on a month by month basis

Is there an option of renewal & what period?
Yes, a 5 year lease can be negotiated

What is the annual escalation %?
10%

What is the square meters of the business?
100m2

Do you require a licence?
No

What lease deposit and/or other surety is required?
Lease deposit of 2 times the monthly rate of approx R20k

Who is the current landlord
Kamcay Properties (pty) Ltd

What are the main assets of the business?
Stock, TV's, Coffee machine, Chairs, Basins, fixtures, mirrors, cupboards etc

What is their overall condition?
Very good

How have they been valued ?
Per audited financial statements

Which assets are on lease/HP and with whom?
None

Are they presently insured?
Yes

Strengths?
Business is in a newly renovated premises with upmarket finishes Business situation is close to affluent clientele Ample parking and access In previous residential area on a main road Clients the retail side of the business Has been established for 26 years and has a loyal client base

Weaknesses?
Current COVID climate makes doing business difficult

Opportunities?
Attract more clients Increase retail offering

Threats?
Further lock downs

What is the reason for the sale?
Owner is emigrating

Why is this a good business?
A well established business with loyal clientele. Salon is situated in close proximity to an affluent suburb and clients support the retail offerings

What is the price plus stock and the profit?
R795 000

Other listings by Bill
R 1.20MZAR
Added : 22 Jul 2021 31
Yearly profit: R0
Gauteng
R 3.00MZAR
Added : 14 Jul 2021 74
Yearly profit: R689,383
Gauteng
R 30.00MZAR
Franchise
Added : 24 Jun 2021 282
Yearly profit: R5,771,840
Gauteng
AGENCY DETAILS

Aldes Bedfordview

1 members
4 mandates
Gauteng , Edenvale
6 Putter Lane, Glendower Golf Estate, Marais Street, Dowerglen x 8, 1609
Edenvale

Our experienced cross industry brokers are
waiting to assist and guide you…

Similar Businesses for sale

Discover similar, inspiring businesses for sale

R 450KZAR
Added : 2 Jun 2021 238
Profit*: R48,870 *(7 months)
Gauteng
R 500KZAR
Added : 25 Feb 2021 114
Profit*: R29,885 *(4 months)
Gauteng

Businesses in Gauteng

Annual Turnover Amount between R 500 thousand and R 6 million

R 880KZAR
Franchise
Added : 23 Jul 2021 26
Yearly profit: R50,320
Gauteng
R 1.20MZAR
Added : 22 Jul 2021 31
Yearly profit: R0
Gauteng
R 1.43MZAR
Franchise
Added : 22 Jul 2021 31
Yearly profit: R404,955
Gauteng
R 300KZAR
Added : 19 Jul 2021 130
Yearly profit: R207,325
Gauteng
R 630KZAR
Added : 19 Jul 2021 70
Yearly profit: R548,471
Gauteng
R 650KZAR
Franchise
Added : 15 Jul 2021 116
Profit*: R257,475 *(10 months)
Gauteng
R 2.25MZAR
Added : 14 Jul 2021 253
Yearly profit: R1,125,757
Gauteng
R 430KZAR
Added : 7 Jun 2021 443
Yearly profit: R201,505
Gauteng