Want to be your own boss and own your own hair salon?
Here at Williamsons, we have a specialist team who will be able to make your dream a reality when buying a hairdressers.
Below is a list of the factors which you will need to consider when buying a hairdressers and the information and documentation which you will need to obtain prior to purchasing a hair salon:-
- At least the last 3 years accounts of the business. This will enable you to make sure that the business is profitable and a good investment.
- Details of all supply contracts. You need to know who your suppliers are.
- Details of all staff. You will need to make sure that you are provided with full details in writing of all the employees and workers (whether full or part time) and the terms of their respective contracts, such as their hours of work, what they are paid, etc.
- Confirmation as to whether the transaction is leasehold or freehold. It is more probable than not that the vendor will be occupying the premises from which the business is run under a lease. It will then be a matter of establishing whether the current lease is assignable to you, and if so, whether you want the lease to be assigned to you, or whether you want to enter into a new lease directly with the landlord.
- Details of any Chair Renting Agreements. It may be the case that some of the stylists are renting a chair under a Chair Renting Agreement.
- Details of how the purchase price is made up. The price will consist of three elements; the goodwill of the business, fixtures and fittings and the lease itself (assuming of course that there is a lease). It would also be beneficial to you to take details of the fixtures and fittings which you will be purchasing, noting the exact name and model of the fixtures and fittings.
- Details of the planning permission/use class. It is likely that a hairdressers would fall within use class A1, however should it be the case that you are wanting to offer additional services such as a nail boutique, tanning, beauty therapy, then it is probable that such services would not fall within use class A1. It would then be necessary to apply to the Local Authority to obtain the necessary planning permission.
If you are buying a hairdressers, visit us or call our Commercial Property team today on 01482 323697.W