Profitable Absentee Hair Salon (East LA)
Los Angeles County, CA
This is a profitable, established hair salon with revenues already back to pre-pandemic levels. As an absentee owner (I'm not a hair stylist), I only work 1-2 hours most weeks (sometimes up to 5 hours). This is easily manageable with a full-time job (previous owner had 4 locations while keeping a job). This is a great first business for someone looking to become an entrepreneur and business owner. Asking price is $48k or best offer. All serious offers will be considered. Highlights: — Salon is established for over 20 years with steady long-time clients (men/women/kids, haircuts and color services) — Located in busy shopping center in east Los Angeles County (near Whittier and Buena Park area), anchored by big box retailer and large restaurant chain — 4 part/full-time W-2 employees earning commission with hourly base — 8 stations with room to add more stylists — Includes website with online booking, Google/Yelp profiles with high ratings (4.5 stars & up), and Instagram with over 1,000 followers. These are perpetual marketing machines that bring in new customers at no cost. — Streamlined processes, world-class software (Square point-of-sale), and modern security cameras make this business dead simple to run — Clean books FINANCIALS Books are clean and all financials are easily verifiable (just need to account for the pandemic shutdowns). Details will be provided after signing and NDA. Highlights below: Business has recovered to pre-pandemic levels, so these are annualized figures based on normal business: Revenue: $168,000 (average $14k/month) Cash Flow: $28,000 (average $2.4k/month) Actual revenues for most recent months (reopened late January): February 2021: $12,638 March 2021: $13,207 April 2021: $13,620 May 2021: $15,288 June 2021: $16,829 Total cash flow for this period is right around $2.4k/month. As the economy reopens and returns to normal, this is expected to be even better in the coming months. Rent: $1,983/month As part of the purchase, you would sign a new lease as the current one ends December 2020. Current lease is 5+5 years. FACILITY & EQUIPMENT — 1,000 sqft with 8 styling stations and back office/break room — Located in high traffic shopping center, anchored by big box retailer and national food franchise — Includes washer/dryer — Square point-of-sale (very simple to use, can manage remotely from any device) — Wyze security cameras (HD recording with smartphone app for remote viewing) MARKETING — High Google/Yelp ratings (4.5 stars & up) which continuously brings in new customers — Steady foot traffic from busy shopping center — 400+ customer emails (I have not done email marketing) — Website with online booking and mobile-friendly (easy to edit/update, no coding necessary) — Zero marketing spend, lots of opportunity to grow with any marketing efforts. Competitors have started closing and their customers are coming to us. WHY I’M SELLING I left my corporate job 5 years ago to figure out what I really want to do. I tried various entrepreneurial projects, some successful and some not. I originally bought this salon for its steady cash flow, and it's worked well for me. Now I'm fortunate to be in a position where I no longer need it. I've found my passion and want to focus exclusively on that. My goal was to get through the pandemic and make sure this salon was in a steady place again before passing the torch. I had the great fortune to learn a ton from this experience and grow professionally and personally. I want to pass this on so someone else can do the same and take the next step in their journey.