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Our Approach and what we are looking for
Our Approach and what we are looking for
Our Approach
Our Approach
We appreciate that you will have spent years building your business up to where it is now. The effort in bringing a team together is not easy and becoming locally known so that your customers are loyal and stay with you for years is the secret behind many salons. We will respect all of that - our approach is to build on what you have done with a "quiet" transition and ensuring as much as possible stays the same.
We appreciate that you will have spent years building your business up to where it is now. The effort in bringing a team together is not easy and becoming locally known so that your customers are loyal and stay with you for years is the secret behind many salons. We will respect all of that - our approach is to build on what you have done with a "quiet" transition and ensuring as much as possible stays the same.
What we look for in our ideal Salons
What we look for in our ideal Salons
The Team
The Team
We value an experienced and settled team. We would ideally see a mixed team in terms of experience with room to grow in the Salon
We value an experienced and settled team. We would ideally see a mixed team in terms of experience with room to grow in the Salon
Ideally you will have already identified the Salon manager - that person that makes everything work every day when you are away - someone we can work with over time to develop into the Salon Manager who will become part of our leadership team.
Ideally you will have already identified the Salon manager - that person that makes everything work every day when you are away - someone we can work with over time to develop into the Salon Manager who will become part of our leadership team.
Hair styling and cutting is our core focus however we would also like to expand into the Beauty provision market - obviously if the existing business offers both today that would be very interesting to us.
Hair styling and cutting is our core focus however we would also like to expand into the Beauty provision market - obviously if the existing business offers both today that would be very interesting to us.
In summary we are looking to build on the existing team rather than replace and rehire
In summary we are looking to build on the existing team rather than replace and rehire
Location
Location
We are looking to establish our group within about an hour of Andover - where Becky has her Salon (Finishing Touch).
We are looking to establish our group within about an hour of Andover - where Becky has her Salon (Finishing Touch).
The premises needs to be fully functioning without the need for us to spend a lot on the premises initially. We are expecting to be able to transfer the lease to us easily and will work directly with your landlord to make that happen but we will also consider Salons who also own their property and fund the buy out of the property.
The premises needs to be fully functioning without the need for us to spend a lot on the premises initially. We are expecting to be able to transfer the lease to us easily and will work directly with your landlord to make that happen but we will also consider Salons who also own their property and fund the buy out of the property.
Motivated Seller & Simple Process
Motivated Seller & Simple Process
We want to focus our efforts on Salon owners who are motivated to sell (for whatever reason) - it could be to retire, focus on something new, just hate the hassle of owning a salon and want to be more client focused. Whatever the driver is we want to work with owners who want to sell their salon in the next 3 months.
We want to focus our efforts on Salon owners who are motivated to sell (for whatever reason) - it could be to retire, focus on something new, just hate the hassle of owning a salon and want to be more client focused. Whatever the driver is we want to work with owners who want to sell their salon in the next 3 months.
Our process is quick and straight forward.
Our process is quick and straight forward.
We look at the following aspects across a couple of calls and a Salon visit
We look at the following aspects across a couple of calls and a Salon visit
The financial performance (usually from the accountant), Sales Costs and Profits being achieved
The financial performance (usually from the accountant), Sales Costs and Profits being achieved
The location and reputation of the Salon
The location and reputation of the Salon
The customer volumes and staffing setup
The customer volumes and staffing setup
The sale price that the owners wants to achieve
The sale price that the owners wants to achieve
When all of the above look right we then take the seller through the process of the actual legals of the sale process and work with the lawyers to make everything official. We will make it as short as possible for everyones best interests.
When all of the above look right we then take the seller through the process of the actual legals of the sale process and work with the lawyers to make everything official. We will make it as short as possible for everyones best interests.
Financial & Operational strength
Financial & Operational strength
We do have some financial and operational performance criterea we look at to ensure that business is fully able to continue to thrive in the market.
We do have some financial and operational performance criterea we look at to ensure that business is fully able to continue to thrive in the market.
Our ideal size is quite wide so we are happy to look at businesses that do between £200k and £2m in annual sales
Our ideal size is quite wide so we are happy to look at businesses that do between £200k and £2m in annual sales
With a healthy operational profit margin (after tax) and will be showing profits each month.
With a healthy operational profit margin (after tax) and will be showing profits each month.
Operationally the business will ideally have a good reputation, facebook, instagram profile will be good alongside a good website and accounting processes
Operationally the business will ideally have a good reputation, facebook, instagram profile will be good alongside a good website and accounting processes
A manager who can step up to mange the Salon is important to us - if that person is already in the business so much the better
A manager who can step up to mange the Salon is important to us - if that person is already in the business so much the better
A simple lease is ideal or a good freehold will also be considered, just takes a little longer to process
A simple lease is ideal or a good freehold will also be considered, just takes a little longer to process
A sensible asking price that reflects the financial performance is always key to any successful deal but is often not the key driver when we get into the discussions - but being clear about why you are selling is critical to a successful transition
A sensible asking price that reflects the financial performance is always key to any successful deal but is often not the key driver when we get into the discussions - but being clear about why you are selling is critical to a successful transition
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