A Guide to Selling Your Arizona Salon Business
Preparing Your Arizona Salon for Sale
You’ve put years of time and effort into growing your Arizona salon business, but it may be time for a new challenge. Whether you’re retiring, moving on from the industry, opening a new salon, or something else entirely, you’ll want to know that your business is in the right hands moving forward. Business Brokers of Arizona can help.
At BBAZ, we help salon owners like you get their businesses ready to be placed on the market, find the right buyer, and prepare for the next exciting phase of life.
Organize Your Salon’s Business Documentation & Financials
The most important step to the salon selling process is to have your financials in order. Potential buyers will want to look at your salon’s financial records before making any further decisions, as these documents provide them insights into the profitability and stability of the business while it’s been operating. Having accurate documentation helps to reassure buyers that your salon is a wise investment, making it as appealing as possible. Being transparent about the finances of your business upfront also reduces red flags for buyers which makes them feel there is less risk in your business, and helps your salon stand out as an attractive option. Your dedicated team of business brokers at BBAZ is more than happy to assist you in organizing this information. We will also provide you with an accurate business valuation, which allows us to identify a fair and competitive price for your salon.
Educate & Train Your Employees
A major selling point for potential salon buyers is when the business comes with trained stylists and staff. As a salon owner, you know how loyal your clients are to their stylist, and keeping as many stylists as possible will help the new owner maintain steady business through your current client base. This is a great time to offer continuing education for your stylists and staff. If your team has any weaknesses, focus on those areas.
During the selling process, consider inviting senior stylists and other team leaders to meet with potential buyers. Their input can prove invaluable when it comes to choosing a seller that matches your salon’s culture and gels with the existing staff.
Make Your Salon Visually Appealing
This may seem simple, but making sure that your salon looks great is key to making a good sale. As a business owner, you know how much first impressions count for your clients; the same is true for a potential buyer. Before placing your salon on the market, replace any faulty or outdated equipment and make sure to complete any improvement projects you already had in the works. If potential buyers are under the impression that they’ll need to invest more money into make upgrades after the sale closes, they’re less likely to consider buying your salon.
Gather the Intangibles
You know what sets your salon apart and makes it special better than anyone! In addition to your salon’s financials and business valuation, putting together information that shows potential buyers why your salon is successful is crucial in securing a sale. This could include its concept, its reputation in the community, and what makes clients so loyal to your salon that they’ll keep coming back even under new ownership.
Why Choose Business Brokers of Arizona to Sell Your Salon
When you’re selling a salon in Arizona, there’s no better partner than Business Brokers of Arizona. We’ve been helping connect business sellers and buyers for decades, and we know what it takes to guide you through the process. We’re well-versed in the particulars of selling salons, and we know what it takes to get you top dollar for your business. From beginning to end, we make the selling process as smooth as possible.
Learn more about what BBAZ can do for your salon business. Contact us today to get the process started!
