Woodstock Georgia Business for Sale
11 Year Old Woodstock Hair Salon Available For $85,000 |
| Woodstock, Georgia |
Read the owner's words.
1. Why I bought…
The first time I saw the Salon, I was shocked that this business was for sale, the location is at a prominent, traffic-lit intersection on a 4 lane major thoroughfare., The plaza is well maintained, esthetically pleasing, has ample parking, well lit and well traveled. All the stores in the plaza were leased inclusive of 3 restaurants, a dry cleaner, a real estate office, a nail salon, and a cell phone store. The parking lot was packed with potential clients of all ages and the salon sat closed at the peak of a weekday rush hour. Further research showed that the closest competitor for a privately owned salon was 2 miles further down the Highway , and again in the heart of the old Woodstock downtown area. After preparing a full research report and speaking with business advisors and local business owners I was confident that this location was only suffering due to extremely poor management and a lack of professionalism.
2. What’s been done?
I bought the salon in June 2007, with no staff and minimal clientele. A team of 3 commission based stylists and 2 booth renters was formed. The 2 booth renters had worked previously at Salon 92 for numerous years and had built their clientele from this location and were excited to have the opportunity to come back to this location and are still with the salon today. A marketing plan was put into place and explained to each of the stylists with goal setting and monthly reviews to motivate and encourage them. The plan was in place by October and after 6 months the salon’s had 5 stylists with busy books and I ran the front desk.
Over the 2008 year, we started changing the salon décor, and several staff changes occurred as in any business and the marketing plan continued to show the salon’s business on a steady rise. At the one year mark, we had reached the financial goals set forth and were poised for great profit. As we approached the 4th quarter, the storms, the gas crisis and the inevitable changes in the economy meant that changes needed to be made to my business structure. As such the existing commission based stylists had all built enough clientele to become independent stylists, so the salon business structure was changed to be all independent (or booth rental) as of January 1, 2009.
During 2009, the salon continued to grow its staff with limited turnover. The stylists continued to grow their own clientele using and we added 3 additional chairs as new stylists came to work here and to improve the salon’s bottom line. We continued to grow the store front retail area as a means to draw window shoppers and increase the client base. The stylists work well together, helping maintain and support each other, and sharing new techniques and product information.
3. What can be done by a new person to improve?
A new owner will do very well in this location whether they choose to keep the salon on a booth rental structure or bring in a new commission based staff, as long as they continue to market, familiarize themselves and befriend all the clientele, and maintain a professional and creative work atmosphere. Careful budgeting is the key to any business, but with this salons well lit and well traveled location, it is destined to survive even this economy.
4. Why am I selling?
I am selling this salon in order to support my husband in another business venture outside this area.
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Financials |
| Price: $85,000 |
| Gross Income: $117,972 |
| Cash Flow: $32,756 |
| FFE: $26,300 |
| Inventory: $3,000 |
| Real Estate Value: $0 |
| Source Data: |
About the Business |
| Listing ID: #10400746 |
| Year Established: 1997 |
| Financing: |
| Training: Current owner will assist new owner for 2 weeks. |
| Facilities: 1,553 sq. ft. of beautifully redecorated space and improvements. You will need to speak with landlord to negotiate a new lease arrangement.
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| Competition: No real competition in the immediate area.
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| Growth: What can be done by a new person to improve? A new owner will do very well in this location whether they choose to keep the salon on a booth rental structure or bring in a new commission based staff, as long as they continue to market, familiarize themselves and befriend all the clientele, and maintain a professional and creative work atmosphere. Careful budgeting is the key to any business, but with this salons well lit and well traveled location, it is destined to survive even this economy.
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| Business Listed By |
| Name: LOREN MARC SCHMERLER |
| Company: Bottom Line Management |
| Phone: 770-977-7334 |
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| The information in this listing has been provided by the business seller
or representative stated above. The Business Broker Journal has no stake in the sale of this business, has not verified the accuracy, completeness, and assumes no responsibility for this advertisement. Read our Terms and Conditions for more information. |
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