Salon.newbie
New Member
Good Evening,
I'm in the process of purchasing a salon business. I'm struggling to get my head around all the costs. I'm trying to put together the financial business plan. I was sent these figures and just would like to ask your opinions on what else I should ask and check for if they have missed something out.
I have already noticed the insurances are not listed to start with.
The salon is up for 30k out of these figures do you think its worthwhile the possibility of a bank business loan. I'm looking at maybe asset finance as the assets are valued at 30k
What else should I be asking for or can you see any alarm bells. I welcome people to make any positive/negative comments with regards to these figures below.
Set out below to make it easy for you are the fixed outgoing plus last 6 months takings,
all figures are worked out over a month,
1. Rent £1,279.74 (paid quarterly on 25th £3,839.19)
2. Business Rates £267.18 paid monthly)
3. Water £35.00 (Yorkshire water paid quarterly)
4. Electric £400.00 (British Gas paid quarterly)
5. Gas £100.00 (British Gas paid quarterly)
6. Phone £19.00 (Unicom paid monthly)
7. Wages £4,120.00 (Paid weekly Friday)
There are further minimal various costs for stock, incidentals, light bulbs cleaning product etc. (normally get from wholesalers) these are usually covered by the sales of stock as it is roughly a 50% mark up on creams and hair products etc.
The taking for the salon are
May £7,833.78
June £8,309.62
July £8,460.19
August £7,396.91
September £6,834.39
October £7,128.42
Novembers takings are expected to be in line with these figures and a projected taking of around £12,000.00 for December dropping back in line with these figures in January.
Asset Value
We estimated the asset value to be £35,000.00, this is broke down in the following order
Ergoline laydown sunbed £7,500.00
Sunquest VTU £3,500.00
Aqua massage bed £1,500.00
Manual Spray tan equipment £2,000.00
2 x full beauty room set up, Couch's, massages, towel warmers etc £3,000.00
Nail Stations £1,000.00
Toning tables and gym equipment and vibroplate £5,000.00
Advanced beauty equipment Crystal clear machine, electrolysis machine, microdermabrasion machine £3,000.00
Hair dressing equipment Hair dryers, mirrors etc £1,000.00
Advanced hair equipment 2 x Halo dryers, Kitoko permanent hair straightening equipment, £1,500.00
Hair dressing furniture, chairs, backwash sinks, mirrors, £2,000.00
Reception furniture including computer, screen, pa system including speakers, £2,000.00
Kitchen and laundry £1,000.00
Fixtures and fitting light, shelves, cupboards etc £1,000.00
All these prices are based on a second hand purchase value.
Stock holding is an average of £5,000.00 this varies depending on time of year
Regards
I'm in the process of purchasing a salon business. I'm struggling to get my head around all the costs. I'm trying to put together the financial business plan. I was sent these figures and just would like to ask your opinions on what else I should ask and check for if they have missed something out.
I have already noticed the insurances are not listed to start with.
The salon is up for 30k out of these figures do you think its worthwhile the possibility of a bank business loan. I'm looking at maybe asset finance as the assets are valued at 30k
What else should I be asking for or can you see any alarm bells. I welcome people to make any positive/negative comments with regards to these figures below.
Set out below to make it easy for you are the fixed outgoing plus last 6 months takings,
all figures are worked out over a month,
1. Rent £1,279.74 (paid quarterly on 25th £3,839.19)
2. Business Rates £267.18 paid monthly)
3. Water £35.00 (Yorkshire water paid quarterly)
4. Electric £400.00 (British Gas paid quarterly)
5. Gas £100.00 (British Gas paid quarterly)
6. Phone £19.00 (Unicom paid monthly)
7. Wages £4,120.00 (Paid weekly Friday)
There are further minimal various costs for stock, incidentals, light bulbs cleaning product etc. (normally get from wholesalers) these are usually covered by the sales of stock as it is roughly a 50% mark up on creams and hair products etc.
The taking for the salon are
May £7,833.78
June £8,309.62
July £8,460.19
August £7,396.91
September £6,834.39
October £7,128.42
Novembers takings are expected to be in line with these figures and a projected taking of around £12,000.00 for December dropping back in line with these figures in January.
Asset Value
We estimated the asset value to be £35,000.00, this is broke down in the following order
Ergoline laydown sunbed £7,500.00
Sunquest VTU £3,500.00
Aqua massage bed £1,500.00
Manual Spray tan equipment £2,000.00
2 x full beauty room set up, Couch's, massages, towel warmers etc £3,000.00
Nail Stations £1,000.00
Toning tables and gym equipment and vibroplate £5,000.00
Advanced beauty equipment Crystal clear machine, electrolysis machine, microdermabrasion machine £3,000.00
Hair dressing equipment Hair dryers, mirrors etc £1,000.00
Advanced hair equipment 2 x Halo dryers, Kitoko permanent hair straightening equipment, £1,500.00
Hair dressing furniture, chairs, backwash sinks, mirrors, £2,000.00
Reception furniture including computer, screen, pa system including speakers, £2,000.00
Kitchen and laundry £1,000.00
Fixtures and fitting light, shelves, cupboards etc £1,000.00
All these prices are based on a second hand purchase value.
Stock holding is an average of £5,000.00 this varies depending on time of year
Regards