Selling my salon

[BeautyT17]

Hi everyone,

I've been trying to sell my salon for nearly a year now and am using an agents to help do so.
Turnover is extremely good but it is starting to slow down as I am no longer there full time due to having a baby. After having the business for nearly 6 years I feel I have fulfilled my wish to own and manage my own business and now want to concentrate on expanding our family.
Apart from the agents I'm currently using, where else could I reach out to potential buyers or other salon owners that may want to expand their empire? Thanks in advance

 

[BannerPenguin]

If you didn't work in the business at all, would the profit still be high? That's how buyers would look at it Turnover is fairly irrelevant. Good luck with the sale

 

[salonfrog]

Hi

Have you had any feedback on why it’s not sold in a year from the Agents? Or any advice from then?

Have you had any interest that didn’t go further or have there been no inquiries at all so far?

Have you seen any other salon sold in your area during this time?

Is it time for a change of Agent?

 

[BeautyT17]

If you didn't work in the business at all, would the profit still be high? That's how buyers would look at it Turnover is fairly irrelevant. Good luck with the sale

Thanks for message Granted it was higher whilst I was there but it's now lacking in the owner (doesn't have to necessarily be myself) not being there for clients 5 days a week. Our clients are fab but you know they like their therapist to be available at all times! I was hoping the high turnover would show how profitable my salon is and with the owner giving it the time it needs would be a good starting point for a purchaser

 

[BeautyT17]

Hi

Have you had any feedback on why it’s not sold in a year from the Agents? Or any advice from then?

Have you had any interest that didn’t go further or have there been no inquiries at all so far?

Have you seen any other salon sold in your area during this time?

Is it time for a change of Agent?

Hi Salonfrog, thanks for your response. To be honest, I'm not happy with my agents but I'm tied in with them until July. We've lowered the price recently and I do have one viewing next week. I just feel like I need to be proactive in finding alternative avenues. No other salons have sold in the area that I know of

 

[SalonOwnerCheshire]

Have you perhaps tried putting an advert in the local college to the beauty students - you never know a level 3 or someone returning or just someone confident and brave may take it on - or maybe a pair of them together?
Also, have you put a poster in your local wholesalers?
Facebook is a biggie too..

 

[Liz Howells]

Hi everyone,

I've been trying to sell my salon for nearly a year now and am using an agents to help do so.
Turnover is extremely good but it is starting to slow down as I am no longer there full time due to having a baby. After having the business for nearly 6 years I feel I have fulfilled my wish to own and manage my own business and now want to concentrate on expanding our family.
Apart from the agents I'm currently using, where else could I reach out to potential buyers or other salon owners that may want to expand their empire? Thanks in advance

Have you managed to sell your business? I'm selling mine and I can't wait a year!

 

[BeautyT17]

It's officially under offer now but it has taken ages to get the right buyer interested. I think it's really dependant on a few factors and each potential buyer will have slightly different requirements. Patience is key, even if you're desperate to get it sold!
Hope yours sells quickly, feel free to ask me questions if you have any x