Hi guys,
Just after any advice really.
Looking at buying the lease for a salon where the lady is retiring. The salon itself needs a lot of work as very dated plus no clients on her database etc as so old school but it's been in the village for 30 yrs so people know it's there. It's just been run down as the current opener is retiring so all her clients are elderly too so they are few and far between.
The premises is a council owned and very good yearly rent. The current owner wants to sell me the remaining 5 years lease and will change my name so I can take the lease over. We have come to a figure she wants is £28k but as I say this is literally for the lease and goodwill as there isn't anything in the salon of any use to me and needs a total overhaul.
I currently run a business around the corner for the last 7 yrs and have a strong client base and 2 staff with me currently so with another therapist I think it would fly.
Does anyone have any advice? Would you know if the council can change the rent at the end of my 5 yrs lease? Maybe would increase slightly but as long as it wasn't a massive increase.
I would be putting everything into the salon and set up costing a good 5k at least so wouldn't want the council to increase it to much after my 5 years ended. I would be kind of trapped I suppose.
What would I be looking at for utilities and business rates on top of my monthly outgoings?
Many thanks
Just after any advice really.
Looking at buying the lease for a salon where the lady is retiring. The salon itself needs a lot of work as very dated plus no clients on her database etc as so old school but it's been in the village for 30 yrs so people know it's there. It's just been run down as the current opener is retiring so all her clients are elderly too so they are few and far between.
The premises is a council owned and very good yearly rent. The current owner wants to sell me the remaining 5 years lease and will change my name so I can take the lease over. We have come to a figure she wants is £28k but as I say this is literally for the lease and goodwill as there isn't anything in the salon of any use to me and needs a total overhaul.
I currently run a business around the corner for the last 7 yrs and have a strong client base and 2 staff with me currently so with another therapist I think it would fly.
Does anyone have any advice? Would you know if the council can change the rent at the end of my 5 yrs lease? Maybe would increase slightly but as long as it wasn't a massive increase.
I would be putting everything into the salon and set up costing a good 5k at least so wouldn't want the council to increase it to much after my 5 years ended. I would be kind of trapped I suppose.
What would I be looking at for utilities and business rates on top of my monthly outgoings?
Many thanks