Popular Blow Dry Bar Franchise in High End Chicago

Not Disclosed, IL
Lake County

Chicago


Asking Price: Annual Revenue:
$60,000 $109,584

Services: Hair, Nails, Spas, Tanning


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RE: Popular Blow Dry Bar Franchise in High End Chicago Broker: Katie Holditch

Quick Facts

Asking Price: $60,000
Annual Revenue: $109,584
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $75,000
Real Estate: Not Disclosed
Year Established: 2003
Employees: 3
BBN Listing #: 169844107
Broker Reference #: 76931-956108

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Business Overview:

This blow dry bar business is one the top salon franchises available in the country, and it is a brand that is growing exponentially with locations all across the country and in Canada. The brand coined the term “blow dry bar,” which is a salon concept that offers no cuts or color but provides gorgeous blow outs, custom styling, updos, bridal styling, makeup services and even hair extensions. The stylists are paid hourly vs. a commission-based system, and at a successful location, licensed stylists can make up to $28-30 an hour. With some owner involvement, there is no need for full-time management, but the business does benefit and grow with a qualified front desk receptionist/supervisor. Any stylists who are promoted to supervisory positions can continue to generate revenue. Sales in 2021 were right at $110,000, so it won’t be a “starting from scratch” for a new owner. A buyer will need to build the business of course, but there is a good foundation and excellent operations and marketing support from the franchisor.
At a $60,000 price tag, any buyer could get this stunning business in its perfect location for approximately ¼ of what it costs to open a brand-new franchise of this blow dry bar. The business is situated in a busy, high-end and trendy shopping area, and the modern buildout of the salon is practically new. Any potential buyer could invest in marketing and hiring to see the revenue and profitability increase dramatically depending on how many stylists and makeup artists are hired and by including additional services like hair extensions. A salon this size in the franchise can generate 3 to 5X this location’s annual revenue. The salon was built out in 2019, and all furniture, fixtures and equipment are in excellent condition, and the custom millwork alone is worth well over $55,000.

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Property Features and Assets:

As stated above, this location was built out in a busy and popular shopping area in Vernon Hills. The franchise fee alone to start this franchise ranges from $35,000-40,000, and with buildout costs and investment in high-end millwork plus chairs, fixtures and inventory, startup costs can be close to $350,000. The franchisor is extremely supportive and innovative with their franchisees, and they are perpetually working with local franchise partners to grow their locations and the brand. With a large network of corporate support and marketing, any new franchise partner would have the tools and knowledge to grow this business to profitability in short order.

Market Competition and Expansion:

Any potential buyer could invest in marketing (Google Ads, Facebook, Instagram, etc.), add a variety of products for retail sale and add new services to see the revenue increase by 3-5X depending on how many additional stylists the buyer chooses to hire and services offered. Potential Sources of Sales and Revenue Growth Include: • Adding 3-6 stylists, including makeup artists • Retail product sales • Membership-based options to generate guaranteed monthly revenue in exchange for a set number of services per month. The franchise offers memberships, but any new franchise partner could grow • Growing the hair extension and makeup service portion of the business • Investing in marketing—Google Ads, Facebook, Instagram, Events

Reason for Selling:

other opportunity

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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