Profitable Barber Shop

Southgate, London
REF: 01593

Asking Price:
£59,000
Annual Turnover:
£104,000
Annual Net Profit:
£26,500
Recently Sold
REF: 01593
Photo of Profitable Barber Shop
Photo of Profitable Barber Shop
Photo of Profitable Barber Shop
Photo of Profitable Barber Shop

Overview

Tenure:
Leasehold
Established:
2010
  • Huge growth potential
  • Excellent Reputation
  • Well Equipped Business

This is a well established, well patronised, and profitable barber shop situated in an extremely busy and popular North London location.

They have built up regular clientele and passing trade over several years, with excellent scope and room to increase turnover. They operate from a fully fitted and well maintained premises offering an ideal opportunity for a ‘first time’ operator.

Benefiting from a solid passing and existing trade, there is plenty of room to grow the services and opening hours.

On entering this, well maintained, premises from the main high street you are greeted by a contemporary yet functional décor,with quality fixtures and fittings. A mixture of mirror glazed, stainless steel units, and black upholstery give the premises a sharp edge look and feel.

There are up to 4 usable cutting stations and barbers chairs which are fully equipped. To the front of the property is a reception area and desk with back office equipment, whilst to the rear is a good sized staff room and kitchenette area, and plentiful storage.

Throughout the premises there is plenty of soft seating and waiting areas, with interesting local artwork scenes relevant to London. Enjoying fantastic visibility on a major high street, the front of the building is easily recognisable, attractive, and sector specific, in order to entice the desired custom.

Intelligent business transfer are excited to introduce an amazing opportunity to take an already well established and profitable barber shop to the next level.

With a healthy turnover built from scratch only a few years ago, the business benefits much repeat clientele and an excellent passing trade. With a healthy set of historic and current accounting information, the most recent set of figures show a turnover of £105,000, net profits of £22,144 and an adjusted net profit approaching £27,000 pa. Average spend per head is a dry cut for £10 which could easily be increased.

Our client is offering this leasehold business for sale due only to other business commitments.

By increasing opening hours and potentially renting out the two unused cutting stations, there is a real opportunity to grow the operation and extend the opening hours. A truly great little business that will suit a ‘first time’ operator, or somebody of existing experience who is looking to build on an already locally successful name.

The annual rent for the square footage is incredibly attractive for such a location at only £16,000 pa from a private landlord. The lease is assignable and renewable with 8 years currently remaining for 2015.

Location

Property

Annual Rent
£16,000
Annual Rates
TBC
Lease Term (Years)
12
Lease Expiry (Year)
TBC
Accommodation Included
TBC
EPC Rating
TBC

Financial & More

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Company Accounts
XXXX
Trading Entity
XXXX
Management Structure
XXXX
Number of Employees
XXXX
Current Ownership
XXXX

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