Profitable Salon and Barber Shop in River Oaks

Not Disclosed, TX
Harris County


Asking Price: Annual Revenue:
$95,000 $120,000

Services: Hair, Nails, Spas, Tanning


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RE: Profitable Salon and Barber Shop in River Oaks Broker: Katie Holditch
Owner Financing is Available!
$43,000.00

Quick Facts

Asking Price: $95,000
Annual Revenue: $120,000
Net Profit: Not Disclosed
Cash Flow: $60,000
Total Debt: Not Disclosed
FF&E: $25,000
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: 4
BBN Listing #: 695044107
Broker Reference #: 76931-539905

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Business Overview:

REDUCED FOR QUICK SALE! This salon is a must see.

This successful and profitable salon near the River Oaks area on Sheppard Drive is in the heart of an affluent area and has so much additional potential. The current owner is a master stylist and barber and plans to stay on for as long as possible. He would even be open to managing the salon. Currently, the owner takes home a minimum of $60,000 a year in SDE. The gross revenue is even better at around $120,000 a year. While the financial details are a bit sparse, the seller does have bank statements and credit card statements to demonstrate sales. About 40% of current sales or cash, and while those cash sales don’t appear on paper necessarily, any buyer would be able to talk to the current owner and assess the business operations to confirm the cash flow.

Unlike other properties in the River Oaks area, (probably one of the most affluent areas in Houston) rent for this salon is $2,800 for approximately 1000 ft.². You will find other similar spaces in the area at 2 to 3 times this rate. Total monthly expenses, including rent, come to about $3,200. The owner has three other stylists/barbers working in the space and he pays them via commission, either a 50/50 split or a 60/40 split. There is room in the salon for at least two other commission-based stylists, and a new owner could even lease out a chair or two.

The salon recently went through a remodel that cost well over $75,000. There are beautiful new tiles, chandeliers, and two gorgeous massage/facial/aesthetician rooms. There is also a facial steamer and lighting included in one of the rooms. The current owner takes great pride in the salon and its success. The only reason he is selling is to be able to give his family in another county a lump sum of money.

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Property Features and Assets:

While there are of course many salons in and around the area, this one is unique in that it offers master barbers, stylists and esthetician/massage services. The seller has owned this salon for three years with a partner and one year on his own. He's done a fantastic job on a full remodel and the space is sleek and contemporary.

Market Competition and Expansion:

The current owner does not do any outside advertising nor offer a wide variety of retail products. These are both areas in which a new owner could invest and therefore watch the business thrive. The seller has only owned the business for three years, and until the last year or so, he had a partner; therefore, many of the financial details are unavailable, but it’s easy to do the math on just how profitable and successful the salon is and can be. The salon currently has a 4.7-star rating on Google, so its reputation is fantastic. There are two massage/esthetician rooms that are ready to be leased out or staffed with a commission-based massage therapist or facialist/waxer. There is also room for two additional barbers or stylists. The salon also has a pedicure chair and those services could be added at any time.

Reason for Selling:

Family

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.

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