Listing Number: 76931-539905
REDUCED FOR QUICK SALE! This salon is a must see.
This successful and profitable salon near the River Oaks area on Sheppard Drive is in the heart of an affluent area and has so much additional potential. The current owner is a master stylist and barber and plans to stay on for as long as possible. He would even be open to managing the salon. Currently, the owner takes home a minimum of $60,000 a year in SDE. The gross revenue is even better at around $120,000 a year. While the financial details are a bit sparse, the seller does have bank statements and credit card statements to demonstrate sales. About 40% of current sales or cash, and while those cash sales don’t appear on paper necessarily, any buyer would be able to talk to the current owner and assess the business operations to confirm the cash flow.
Unlike other properties in the River Oaks area, (probably one of the most affluent areas in Houston) rent for this salon is $2,800 for approximately 1000 ft.². You will find other similar spaces in the area at 2 to 3 times this rate. Total monthly expenses, including rent, come to about $3,200. The owner has three other stylists/barbers working in the space and he pays them via commission, either a 50/50 split or a 60/40 split. There is room in the salon for at least two other commission-based stylists, and a new owner could even lease out a chair or two.
The salon recently went through a remodel that cost well over $75,000. There are beautiful new tiles, chandeliers, and two gorgeous massage/facial/aesthetician rooms. There is also a facial steamer and lighting included in one of the rooms. The current owner takes great pride in the salon and its success. The only reason he is selling is to be able to give his family in another county a lump sum of money.
- Price: $ 95,000
- Down Payment: $75,000
- Sellers Discretionary Earnings: $ 60,000
- Total Sales: $ 120,000
- Location: Harris County, Texas
- Inventory: $ 5,000
- FF&E: $ 25,000
- Employees: 4
- Reason for Selling: Family Obligations
- Category: Beauty/Personal Care