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Well-established Barbers For Sale

Cheltenham, Gloucestershire, UK
Asking Price:
£45,000
Sales Revenue:
£30,433
Cash Flow:
Available on request

Business
Hilton Smythe are pleased to have been given the opportunity to manage the sale of Paddy the Barber Limited which is a well-established Barbers with a renowned reputation amongst residents. This is a superb opportunity to take on a great little local business in an area teeming with customers.

Paddy the Barber was founded by the current owner in 2017 when he identified a gap in the market and the business has been a real labour of love for him, it has acquired an impressive number of regular customers under his ownership.

The business is now being sold, albeit reluctantly and with a heavy heart only due a change in personal circumstances and a need to take a change in direction. The vendor is keen to see his beloved barber’s business pass to an ambitious and entrepreneurial new owner who can take it to the next level.

Located within the grounds of the George Moore Community Centre in Bourton the business offers traditional hair care services to a wide range of happy clients at competitive market rates. With Paddy the Barber excellence is the name of the game when it comes to styling their customers hair

Currently the business operates on a ‘by appointment ‘basis only with bookings being made either by telephone or the business website. In offering an appointment only service it enables men to have their own dedicated time for themselves in a 1 to 1 setting.

The business offers men’s and children’s haircuts and offers a discount for those over 65.
The sale will include the company website (with online booking facility) and social media platforms and the business enjoys great visibility on the internet.

Scope to improve
Advertising and marketing campaign
Extend the opening hours (the business currently trades on limited hours)
Increase the external signage
Improve visibility from the main road, perhaps with the use of A boards
Introduce a loyalty card / scheme to encourage return business
Explore online voucher discounters from the likes of Wowcher and Groupon
Employ another barber or rent a chair
Increase prices.
Encourage ‘Walk in” business.

Reasons to Buy
A well-established business with existing customers and loads of potential
Low running costs with inexpensive rent and no business rates
Little or no competition locally
Loads of free parking immediately outside the premises
Sale will include the company website and social media platforms
Current owner happy to offer a handover to ensure the continued
Ideal owner managed business
Would suit someone looking to take their first foray into self-employment
A real opportunity to increase turnover and profits significantly, the business is currently being run at a pace to suit and with reduced hours. An ambitious new owner should quite quickly expect to see turnover increase significantly.
Sale will include a database of existing customers.

Hilton Smythe highly advise early viewing to avoid disappointment

Location
Paddy the Barber Limited is in Bourton-on-the-Water.

Bourton-on-the-Water is a village and civil parish in Gloucestershire that lies on a wide flat vale within the Cotswold Area if Outstanding Natural Beauty. The village had a population of 3,296 inhabitants at the 2011 census making it a rather large village. Much of the village is designated Conservation Area.

The village of Bourton-on-the-Water is known for its picturesque High Street, flanked by long wide greens and the River Windrush that runs through them. The river is crossed by five low, arched stone bridges. They were built between 1654 and 1953, leading to the moniker of ‘Venice of the Cotswolds’.

The village often has more visitors than residents during peak times of the tourist season. Some 300,000 visitors arrive each year.

Bourton-on-the-Water has several tourist attractions;

The Model Village, built by local craftsmen in the 193O’s
The Model Railway
The Cotswold Motoring Museum.
Bird land Park and Gardens
The Dragonfly Maze
On the fourth Sunday of each month there is a farmer’s market.

Paddy the Barber is situated in a prominent standalone position at the George Moore Community Centre which is well used by residents.

The business is nicely presented and maintained. There is free parking immediately outside the premises.

Premises
The business occupies a period style, detached building, is presented and maintained to the highest standard and briefly comprises;

Two doors to front, dual aspect with windows to side and rear, beautiful stained glass window, expensive looking tiled floor, LED spotlighting, hair station with chair and wall mounted mirror, access to roof space, hand wash basin with Monobloc tap, period style wooden table.

Tenure
We are advised that Paddy the Barber is being sold as a leasehold business opportunity.

The existing lease expires in December 2020, but we are advised that the landlord would be happy to negotiate a mutually acceptable lease with a new owner.

The current rent is £2415 per annum which is reasonable given the size and location of the premises.

We are advised that the business benefits from being exempt from business rates.

Hours
Monday Closed
Tuesday 9.30 – 19.00
Wednesday Closed
Thursday 9.30 – 19.00
Friday 9.30 – 19.00
Saturday 08.00 – 13.00 (every other Saturday)
Sunday Closed

Staff
The business is run and managed by our client.

Financial Profile
Paddy the Barber Limited generates an advised current turnover of circa £31,000 per annum but it needs to be appreciated that the business is currently being run on reduced hours. An experienced and ambitious operator should expect to see the turnover and profits increase quite quickly and significantly.

Property Information

Property:

Leasehold

Contact Information

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