Salon in Annapolis - Good One!
Listing Number: 090122-589387
Listing Details
Salon in Annapolis - Good One!
Price: $550,000
Location: Anne Arundel County, Maryland
- Down Payment: $300,000
- Sales: $700,000
- Seller's Discretionary Earnings: $170,000
- Inventory: $5,000
- Furniture, Fixtures, and Equipment: $220,000
- Rent: $4,600
- Employees: 10
- Year Established: 1988
- Reason for Selling: Owner retiring
Business Description
In business at this prime location for almost 40 years! Seller was fortunate to get in at the ground floor with a good location, good landlord with favorable rent terms, surrounded by high-end clients, little competition, ample parking, and attractive neighboring businesses.
10 seasoned employees all happy to work for pay every day. Sometimes 11 if it’s busy. That includes 2 shampoo/receptionists that are hourly and the rest are stylists paid on commission.
Rent is $4,600 including cam. 1,600 SF space with upscale and modern build-out. New, long-term, lease available for qualified tenants. Owner does some styling and the rest admin. Easing into retirement working only 20 hours per week these days.