Status: Completed
Tenure: Leasehold
Leasehold Rent: £280 per month
Turnover: £48,000
Busy Barber Shop in Greenfield, Oldham For SaleBusy Barber Shop in Greenfield, Oldham For SaleBusy Barber Shop in Greenfield, Oldham For Sale
£44,950 + SAV

Busy Barber Shop in Greenfield, Oldham For Sale

Completed
  • Reference: 13513 D
  • Location: Oldham, Greater Manchester
Hilton Smythe is delighted to welcome to the market this well-established and popular barber shop business, which is ideally located within the village of Greenfield, Oldham.

The business was originally established in 2008 and has been in our client's careful ownership since 2012. Only now is the business being offered to the market due to our client's family commitments. The business currently operates 5 days per week and generates a turnover in the region of £48,000 per annum, with a gross profit of approximately 95%, according to the 2016 accounts.

Our client offers a range of men's styling services including wash cut and dry, men's dry cut, child's dry cut OAP specials and traditional wet shave and grooming services. The property boasts 30 sq. metres of floor space, is very well maintained and fitted out to suit the trade with three styling stations and a backwash. The business is unopposed in the area for 3 miles in most directions.

The business has built up an excellent reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

The salon has a contemporary feel to it whilst maintaining a traditional quality. The shop is split into two rooms with the front salon currently dealing with walk in customers and the back focused on grooming services and appointments. We feel there is scope to increase the turnover by further developing the grooming side of the business and building on the appointment system.

There is also scope to extend the opening hours, perhaps by trading on Mondays, as the business is currently closed on this day. A new owner could also embark on a modest marketing campaign, to highlight the services offered. The business already takes advantage of social media, with a page on the popular website Facebook but could benefit from a business website.

This is an excellent opportunity for a new owner to take this popular business to the next level; therefore, early discussions with Hilton Smythe must come highly recommended to avoid disappointment.

TENURE

We are advised Leasehold:

Original lease length: 6 months
Remaining lease length: 6 months rolling, as of 2017
Rent: £3,360 per annum

HOURS

The business is open:
Monday: Closed
Tuesday: 9.00am - 5.00pm
Wednesday: 8.00am - 6.00pm
Thursday: 9.00am - 5.00pm
Friday: 8.00am - 6.00pm
Saturday: 8.00am - 4.00pm
Sunday: Closed

STAFF

The business is owner run and managed with 2 x part time staff members.

FINANCIAL PROFILE

The business generates a turnover in the region of £48,000 per annum, with a gross profit of approximately 95%, according to the 2016 accounts.
Greenfield Village Barbers occupies substantial ground floor premises, ideally located within the pretty village of Greenfield, Oldham, Greater Manchester. The business is surrounded by a mix of commercial properties and densely populated residential areas, from which the business derives much of its trade. The barbers shop benefits from a high volume of footfall and passing trade, as well as on-street parking facilities to the front and surrounding areas of the premises.

Greenfield and nearby Saddleworth are villages within the Metropolitan Borough of Oldham in Greater Manchester. According to the 2011 census, the village of Greenfield had a residential population of 1,831. Greenfield is one of the towns and villages which hold an annual Whit Friday brass band contest, as well as the annual Road End fair, which is held every Maundy Thursday in the village centre. The area is renowned with walkers and is an area of outstanding beauty popular with tourists.

The area of the business is well served by the public transport system, with bus stops within easy walking distance of the property and Greenfield railway station approximately 10 minutes' walk away. The area is also well served by the A-roads, with the business being located on the A669, which links to the national A-road and motorway networks. Oldham is approximately 5½ miles away and the City of Manchester is 12½ miles away.
Substantial ground floor premises in an ideal trading location, briefly comprising:

Main salon with:
Perimeter seating for up to ten customers.
2 x styling stations with large mirrors and chairs.
Racking and shelving for product displays.
Coffee table.
Electronic cash register.
Play area for children
Small salon with:
1 x styling station with chair and large mirror.
1 x backwash.
Racking and shelving for product displays and sterilising unit
Kitchen with microwave, refrigerator and freezer.
WC and wash hand basin.
External:
Good signage.
A-board.
On-street parking.