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Hair And Nail Salon
Location New York,United States
Asking Price Range $250K - $500K
Gross Revenues $767895
Net Profit / Cash Flow $240654
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 2005
Number of Employees 6 - 9
Relocatable Not Disclosed
Number of Employees 6 - 9
Real Estate Leased
Training Yes
Reason for Sale Personal
Description This profitable and large (2000 sq ft and rent is only $7K/mo.) hair and nail salon is located in the heart of Manhattan. Its skilled professionals, all independent contractors, are highly trained in the newest trends, innovative hair coloring techniques and great styling designs to fit their clienteles' busy lifestyles. The current owners, who have been there for 5 years and are each present just 2 days/week, host a crew of mostly European stylists offering the latest cuts starting at $55, plus color services. While already successful, a full-time hands-on owner could really make this place sing. Monthly promotions bring in midtown workers and tourists looking for a deal, and with 12 styling chairs there's plenty of room for walk-ins. Behind the main cutting floor is a FULL-SERVICE NAIL SALON that generates meaningful business from its workweek mani-pedi specials. The salon also keeps up with the latest in products, including brushes, flat irons, and blow dryers, along with shampoos and styling aids by Aveda, Paul Mitchell, Keratase, Tigi and other up-and-coming hard-to-find lines. In addition to its core retail focus, the business derives another $135K in revenue from wholesale and $12K from subletting some of its basement space. Sellers are willing to negotiate terms for an appropriate buyer. The sellers have other businesses in the process of launching and would like to move on quickly and quietly. Valued at only a 1.65 mulitple of the $240K in owner's discretionary cash flow, this is priced-to-go at $399K.
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