All salons are NOT the same. This salon is truly as good as it ever gets in our industry. I have owned this salon for 15 years and I have been in this industry for 35 years. At 60 I am now ready to retire. There are a multitude of things that make a good salon very successful and this salon has every one of them. All previous owners of this wonderful salon have stayed until their retirement because this business location is so successful financially.
I downloaded a very excellent salon buying guide from an industry expert who has 33 years of experience working with successful salon owners as a business real estate broker right here in the Inland Empire. I am happy to forward his very comprehensive and informative salon buying guide to anyone interested in it.
I will briefly list below for you quotes from the “5 must-have items when buying a salon” taken directly from the salon business brokers salon buying guide and show you that this salon not only has all 5 items, but, that our salon exceeds in each item very well:
1) Great Signage: “if you don’t have a very visible sign (or two) out front you are missing out on your total profit potential.” Our salon has 4 great signs that can all be easily seen by the drive-by traffic right in front of our salon.
2) Drive By Traffic: “drive by traffic represents about 50% to 60% of most salons overall business… A salon with 200 drive-by cars an hour is much more profitable than a salon with only 100 drive-by cars an hour”. Our salon is located on one of Riversides very busiest streets and we average about 450 drive-by cars per hour.
3) Rent: “One salon has monthly rent of $3,200 plus triple net of $800 a month (which totals $4,000 a month) while another salon has a super low (hard to find but out there if you look) rent of $1,500 a month and no triple net for a total of $1,500 a month. That is a $2,500 per month difference in rent between the two salons so you will save $30,000 every year on rent which is $300,000 more in your bank account every 10 years”. Our salon’s rent is incredible at only $1,200 per month with no triple net!!
4) Maximum Number Of Stylist (or barber) Stations: “For most average salons the rule of thumb is to have at least four stylist stations with the ability to expand to at least six stations”. Our salon already has 5 stylist stations and can expand to 7 stylist stations. * Note: We also already have 1 private microblading room and the ability to add 3 more (very cheaply at about $1,200 for all three). Each private microblading room will earn you twice as much as a stylist station will, so, I highly recommend asking me about having 4 stylist stations and 4 private microblading rooms here for your maximum monthly profit. We are also connected with microblading professionals and are happy to assist you with your staffing needs.
5) Selling Price: “The cost to fully setup a new 5 to 6 station salon to look decent is about $30,000 (give or take). The industries standard selling price for an “established decent salon” (in the Inland Empire) is $40,000 to $55,000. The additional $10,000 to $25,000 that you will customarily be paying is primarily because you will be getting the salons existing customers and with that existing customer base you will be making money from day #1). Any salon priced less than $40,000 should be under total scrutiny by you to find out why it is so cheaply priced. It is not because they wish to give you a good deal”. We have asked 3 different business real estate brokers/agents what our salon should be listed at and their suggested pricing ranged from $50,000 to $60,000. We have decided to lower our asking price to $45,000 for a quicker sale which is a wonderful price for a perfectly ideal salon.
You will get all of my customers as I am moving out of state. My business partner and I will gladly teach you everything that you will need to know to be successful. I can stay for a while to introduce you to my existing customers and to make sure that your transition as the new owner is very smooth.
Price includes all fixtures, equipment, and my existing customers. Call to request an appointment for a private viewing. Salon is shown by appointment only, please. Call: (951) 775-6021. Thank-you.