Business Overview:
Easy to run and profitable subleasing business. This business is part of a beauty franchise which allow beauty professionals to rent a space, be their own bosses and grow their own business. The rent is affordable and they can attend their clientele without the need to pay large splits to their employer, in a very elegant high end set up with an excellent working environment. This concept has become very popular in the last few years. No employees needed, only requires 12 hours a week from owner. The space is 6,500 sq ft divided into 34 suites and lessees pay an average of $295 per week. Set up includes basic furniture, all utilities are included in rent and amenities such as: laundry, kitchen, ATM, alarm, cameras and maintenance of public areas. Approximately $1 million invested in buildout. Seller owns 2 other stores and the location of this one is inconvenient.
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Property Features and Assets:
The space is 6,546 sq ft and monthly rent is $20,043. Current lease expires in May, 2027. There is one option to renew for 10 additional years. The business is located in an important strip mall in the area with high traffic. Parking is ample.
Assets = $1,000,000.
Market Competition and Expansion:
It is very expensive to setup a business like this one so there are not many competitors. Competitors may be hair salons that rent chairs.
The business can grow by increasing the occupancy and through slowly price increases.
Reason for Selling:
2 other stores that are far away.
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 a franchise resale opportunity.
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