Salon in Annapolis - Good One!

Name: Salon in Annapolis - Good One!
Brand: Transworld Business Advisors
Price: 550000 USD
Availability: InStock

Listing Number: 090122-589387

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Listing Details

Price: $550,000

Location: Anne Arundel County, Maryland

Down Payment: $300,000
Sales: $700,000
Seller's Discretionary Earnings: $170,000
Inventory: $5,000
Furniture, Fixtures, and Equipment: $220,000
Rent: $4,600
Employees: 10
Year Established: 1988
Reason for Selling: Owner retiring

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Business Listed By

Michael McNamara

(443) 468-3253 [email protected]

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Business Description

In business at this prime location for almost 40 years! Seller was fortunate to get in at the ground floor with a good location, good landlord with favorable rent terms, surrounded by high-end clients, little competition, ample parking, and attractive neighboring businesses.

10 seasoned employees all happy to work for pay every day. Sometimes 11 if it’s busy. That includes 2 shampoo/receptionists that are hourly and the rest are stylists paid on commission.

Rent is $4,600 including cam. 1,600 SF space with upscale and modern build-out. New, long-term, lease available for qualified tenants. Owner does some styling and the rest admin. Easing into retirement working only 20 hours per week these days.