Retail premises for sale in Penzance, England, United Kingdom TR18

Business
Please quote reference B06128

CoGoGo is delighted to welcome to the market an opportunity to acquire an outstanding, award winning hair and beauty salon along with a separate barber’s shop on a leasehold basis.

The business has built up an enviable reputation not just locally but within the industry in general, a true testament to the hard work & dedication from the current owner, resulting in the high calibre of business on offer.

The business has been reduced in price, the buyer will be required to cover the sellers legal fees.

The business is now being offered for sale due to a change in personal circumstances for our clients. The Salon has been in business for 30 years and has been under the careful & meticulous ownership of our clients since 2007, who then introduced the barber’s side to the business as well as growing the business to an impressive level with an excellent local reputation. The business is seen as a real hub within the community and can be found in true “turnkey “condition after an extensive programme of refurbishment over the years.

The salon boasts award winning and competition winning hair stylists that specialise in all aspects of hairdressing from hair cutting and colouring through to perming, hairpieces, and extensions, with the beauty salon complimenting the service with a complete range of treatments. In addition, the business also has a barbering service for gents cuts and styling that is again an extremely popular service that generates additional income for the business.

We feel there is scope to increase turnover with the undertaking of a robust marketing campaign via local press, social media, and further promotion of the dedicated website, along with offering some further treatments and products.

This is a highly desirable business with an excellent business model in place and would be a very attractive proposition for either an individual or partnership looking for their first business in this sector which is already established or for an experienced operator looking for an additional business with an attractive income stream.

Very rarely do businesses of this calibre come to the open market therefore, early viewing must come highly recommended to avoid disappointment.

Location
The business is located in a prime trading location on the busy and thriving Market Jew Street area within the popular coastal town of Penzance, benefiting from being surrounded by a host of complimentary independent retailers, and as such leading to a good level of footfall and passing trade.

Penzance is the most westerly major town in Cornwall and is about 64 miles west-southwest of Plymouth and 255 miles west-southwest of London, and benefits from being well serviced in terms of local amenities along with benefitting from excellent transport links via road and rail.

Premises
The business occupies 2 commercial premises with the main hairdressing component of the salon being open plan and covering 90sqm. This area includes a reception area and a waiting area with retail stands and drinks facilities and a 4-station backwash area. There are currently 10 hairdressing stations, but more could be added with ease.

At the far end of the salon are doors to the staff room and bathroom. There is another door which leads to a 3rd room which currently houses a stand-up uv tanning shower.

The barbers is located in the adjacent premises and also features the office, laundry area and a beauty room.

Hot water is supplied via gas combi boiler and storage tank. 3 phase Electricity supplies the salon unit while the adjacent unit is single phase mains.

Tenure
We are advised that the businesses are being sold on a Leasehold basis, with 1 year remaining on the 15 year lease. The rent is £3,125 per month.

Hours
The business hours are -

Monday - 09:00 – 18:00
Tuesday - 09:00 – 18:00
Wednesday - 09:00 - 18:00
Thursday - 09:00 – 20:00
Friday - 09:00 – 18:00
Saturday - Closed
Sunday - Closed

Staff
We are advised that the business has 9 full-time staff members.

Financial Profile
We are advised as per the 2019 accounts, the businesses generated a combine turnover in the region of £360,000, with an adjusted net profit in the region of £52,000.

In 2021 both combined turnover was £202,245. Full financials can be made available upon further request.

The buyer is to cover the sellers legal fees.

Please quote reference B06128