Business Overview:
This absentee owned business offers small-scale spa-based business owners the opportunity to run their business out of a well trafficked location with amenities including well-maintained space, business partnership opportunities, educational workshops through the franchise, and a complimentary concierge service. This salon suite franchise business has a loyal and established tenant base including multiple customers that have been with the business since its origins in 2015. This business is fiercely focused on client services because they know that as the host of a multitude of businesses, their name is intertwined with all their customers’ branding. The location for this business is a 10,000 square feet facility in West Hartford, CT with 44 suites for different clients to utilize. The current owner is looking to sell due to recent health issues coming to light. He has a passive role in the business which includes checking in with tenants as preferred and he likes to purchase everyone lunch once a month. New ownership would not need to hire a replacement and could easily step into this role.
This business is unique in its ability to not only provide business owners an opportunity to live their dream without worrying about the details of running a business, but also the sense of comradery it evokes in customers. This establishment has created a major networking opportunity for businesses and a community of like-minded individuals working to build their dreams. New ownership could expand this community in a few ways. The current location has 1,000 square feet that has not been converted into suites but could be. A buyer could also utilize the excellent reputation and long-standing clients to expand into an additional location.
Priced at $530,000, A 10% down payment of $53,000 returns $143,976 in the first year after debt payments! This unique business has little local competition and is the prime choice for new and returning clients alike. Often, customers that have left their location to work in a separate boutique have returned for the lowered overhead costs and responsibilities as well as the individuality and community offered.
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Property Features and Assets:
Lease: 10,000 square feet facility with 44 suites available. 9,000 square feet is currently suites, remaining 1,000 square feet could be renovated into additional suites.
Reason for Selling:
Recent Cancer Diagnosis.
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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