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Price reduced to R1.35m from previous R2m!!!! Owner highly negotiable and absolute Buyer's bargain for this unique well established Spa of its kind!!
Amazing, well established and long serving multi-disciplinary beauty salon and massage Spa, based in Sandton, with a successful track record and loyal customer base offered at an attractive discounted price! Seller is negotiable and open to structuring a deal to the benefit of both parties!
This well-equipped business has the latest technology, consists of Hair, Wax and Facial (incl. Eyelashes & Permanent makeup) Treatments, Nail & Nail Art (Pedi and Mani) treatments, Body Massage Spa, Laser Hair removal (IPL and OPT 360 deg) with excellently trained staff, having a diversified revenue stream for someone who is passionate about personal care.
The business boasts a customer database exceeding 3500 with +-500 customers on a recurring loyalty program which has grown strongly over the years due to the excellent quality and service rendered through the superbly trained staff.
The business has been exceptionally well run, although Covid has impacted the business like many other personal services business. HOWEVER, since returning to operations after being closed under lock-down for +-5 months, the first month's revenue after re-opening, has exceeded 50% of the monthly average of the past 2 years and currently the business is tracking +-75-85% of its pre-Covid revenues.
The owner is selling due to constrained time and reduced available management capacity and other business interests, but is open to a negotiated deal structure.
P.S. The Seller previously had an offer of +-R3m just a few weeks before Covid disrupted the business prior to the hard lock down period - the deal was cancelled as a result of the latter.
While the owner is selling this well-established operation, the Seller is amenable to an accommodative handover process, and supporting the new owner during and after the takeover for a reasonably agreed period to ensure the new owner is fully comfortable after handover.
The price is inclusive of all equipment, furniture, training, support, staff, but excludes stock which averages around R150k.
The sales price is including imported Equipment, furniture and fittings, of which the original costing in excess of R2.9m to set up as a new venture. The business generated an average annual EBITDA pre-Covid for the previous 2 financial years of +-R830k (incl. owners' drawings).
The existing lease runs till September 2021. The Buyer is expected to take over the lease and can renegotiate with the landlord for an extension or renew, if so required.
This is a very attractive opportunity to buy a well established, diversified business with a long standing brand and strong loyal customer base. The potential to exceed its pre-Covid performance with added online and e-commerce marketing in the hands of a focused new owner-manager would significantly enhance the performance in the long run.
The premises comes with 24-hr security and standby generator for all tenants, included in the lease rental.
For more information, please contact us by using the form below.
Lease expires in September 2021. Can renew, but will need to be discussed with the Landlord directly
R70,000 per annum
Premises are leased on +-500 sqm
Possibly, but mainly untapped growth in revenue through social media, youtube, Tik Tok and online (SEO) advertising which has never been explored as the business has always been run on a traditional model through word of mouth and person to person referrals
Similar stand alone businesses within the region, but most competitors focus on one or other services, while this business focuses on diversified services: Hair, Nails (Pedi & Manni), Laser Hair removal, Cellulite, and Facials etc
Owner's time is constrained and cannot manage this with other business interests
Weekdays 9am to 6pm
Weekends 9am to 5pm
This is open to discussion with the Seller - Training, support during and post takeover will be discussed in terms of length and extent of such support, as part of the deal structure.
Owner is open to a structured deal to the right buyer, subject to agreed terms, otherwise cash deal is preferred.
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