Buying a Salon

[lizziekira]

Hello all!!

I would be ever so grateful on any advice I can get on Buying a Salon.
Of course I understand the particulars on figures, client base, profit and loss, reason for sale, etc

I would like to know how people have found it, buying an existing salon and client base. and did they find it difficult keeping staf, customers under new management?

I suppose the bottom lin is: It looks like the best way to acquire a salon, if you don't have the capital to start from scratch. I just want to find out if this is the truth.

Thanks for any help,

 

[The Beauty Zoo]

Hi Lizziekira,

Best to do a search on this one!!! Here is one I found to start with!!! HTH's
http://www.salongeek.com/nail-geek/36783-need-advice-buying-existing-salon.html

 

[lizziekira]

Thanks for the pointer Nikki.

The Salon i'm looking at is going for £99,950. Quite a bit more!!

Takings are around £1800 to £2000 a week.

They have a 400+ client base. It is in the biggest village in the area and the only Salon.

The rent is pretty much paid for as the salon sub-lets to other proerties that are part of the premises . I am a little concerned that the net profit is only £24,000 after so much sales. but I suppose my accountant will give me the go ahead or not.

It seems like a fantastic opportunity, but with the amount of the loan over 5 years, there would be no income for me or my family. That really doesn't make sense.

it seems like to good an opportunity to miss what with no competietion.

we'll see