Details - Information last confirmed on March 18, 2021
This Hollywood area salon opened its doors nearly 20 years ago and always has been a place known for the exceptional service, talented stylists, warm and inviting atmosphere as well as exiting exhibitions. The salon is located in one of the trendiest streets in Los Angeles that continues to benefit from rapid ongoing development. The owner is willing to remain at the salon and rent 1-2 chairs. The salon has several full-time employees who are on a 50% split, a monthly renter and an independent contractor. The salon provides shampoo, hair color, towels and tunics for its clients.
This light filled 1,500 square foot salon leases for $4,900 per month on a lease that expires in August 2021 with one three year option. Given the location’s popularity as tourist destination and a major throughway for residents and commuters, this lease rate is deemed to be below market. The salon has 8 hair stations as well as 4 wash sinks, 2 drying seats, a spacious reception area, a coloring room and a manager’s office. All of the business’s furniture, fixture, equipment and goodwill will be included in the sale. Approximately $2,000 in inventory will be sold at cost at close.
While competition certainly exits in this extraordinarily popular area this venue has developed what they feel is a remarkably loyal client base. In fact, some clients regularly return to the salon from other countries. Given the location’s tremendous street exposure, convenient access and remarkable lease rate, as well as the seller’s willingness to remain a team member, this salon has many attributes that competing venues will likely find difficult to match.
New operators may take this opportunity in any number of directions. If they are hair technicians or other complementary service providers they may bolster revenues via the addition of their client base. Management may replace front desk or other staffers to save on wage expenses, elaborate on the existing service offering, convert staff to be employees or all renters or even expand the retail component of the business.
Training: 4 Weeks at 20 hrs/wk
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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.