Business Overview:
The first time I saw the salon, I was shocked that this business was for sale, the location is at a prominent, traffic-lit intersection on a 4 lane major thoroughfare. The plaza is well maintained, esthetically pleasing, has ample parking, well lit and well traveled. All the stores in the plaza were leased inclusive of 3 restaurants, a dry cleaner, a real estate office, a nail salon, and a cell phone store. The parking lot was packed with potential clients of all ages and the salon sat closed at the peak of a weekday rush hour. Further research showed that the closest competitor for a privately owned salon was 2 miles away. After preparing a full research report and speaking with business advisors and local business owners I was confident that this location was only suffering due to extremely poor management and a lack of professionalism. 2. What s been done? I bought the salon in June 2007, with no staff and minimal clientele. A team of 3 commission based stylists and 2 booth renters was formed. The 2 booth renters had worked previously at the salon for numerous years and had built their clientele from this location and were excited to have the opportunity to come back to this location and are still with the salon today. A marketing plan was put into place and explained to each of the stylists with goal setting and monthly reviews to motivate and encourage them. The plan was in place by October and after 6 months the salon s had 5 stylists with busy books and I ran the front desk. Over the 2008 year, we started changing the salon d cor, and several staff changes occurred as in any business and the marketing plan continued to show the salon s business on a steady rise. 8-5-10 UPDATE - There are now 6 stylists that pay $160/wk. and 1 Avon lady at $80/wk.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
1,553 square feet of beautifully redecorated space and improvements. You will need to speak with landlord to negotiate a new lease arrangement.
Market Competition and Expansion:
No real competition in the immediate area.
Reason for Selling:
Other business interest with husband.
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.