Advice on Buying or Selling a Hair Salon
Law Firm Advising on the Purchase or Sale of Hair Salons
Don’t Cut Out the Legal Advice!
If you’re looking at buying a hair salon then pay attention. I’m going to reveal some crucial issues you will need to work through before you hand over any money for the business.
Keep in mind, though, that buying or selling any business is a complex process, and the following is a selection of some of the most important points to deal with.
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- Investigate the Accounts of the Business You Are Buying
- Check the Planning Permission
- Negotiating the Lease
- Employment Contracts
- Obtain a Warranty in the Contract for Sale
- Take a Full Inventory
Many people don’t want to wait this long and will look for another business to buy where consent is not needed. Don’t forget that using a property as a hair salon could well fit within use class A1, which is a popular use class for high street shops. That said, if you’re planning on offering other services like beauty therapy, nails or massages, then these would probably not fall within A1 use and you might have to obtain planning permission for them.
For example, on the one hand, the rent under the current lease might be low and fixed for another four years, but the lease is excluded from security of tenure. On the other hand, if you took a new lease you might want to make sure it has security of tenure and a longer term, whilst acknowledging that you’d probably have to pay a little more rent.
Buying any business is complicated, so be prepared to invest some time thoroughly researching the business you’re looking to buy. If you do, you should save yourself a lot of potential future headaches.
We also offer legal advice on Taking on a Hair Salon Lease.
Why Choose Bartletts Solicitors?
Solid Traditional Values Delivered
in a Modern Convenient Manner
Our firm has years of experience in buying and selling hair salons across England and Wales.
Benefit from a free no obligation quotation, competitive fixed fees and no hidden costs.
Our solicitor, James Edwards, and his team of support staff are very experienced in the purchase and sale of hair salons. You can expect that your transaction will be completed promptly at a competitive fixed fee.
Bartletts Solicitors was managed by John Bartlett for over 40 years, the last 25 of which he was assisted by Trevor Morris. Trevor is now the managing director, representing continuity for the firm’s traditional values and customer satisfaction ethos.
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