Typically four to six months from going to market to completion. A well-priced salon can find a buyer in weeks, and once a buyer is agreed the legal work and the landlord’s consent usually take another six to twelve weeks.
A salon sale has two halves. The first is finding the right buyer, which depends mostly on the price and the location. The second is the legal work, which depends mostly on the lease.
Where the time goes
- Preparing: one to two weeks to pull together accounts, the lease and the listing.
- Marketing: from a few weeks to a few months, until you have an acceptable offer.
- Heads of terms: a few days to agree the main points in writing.
- Legal work and landlord’s consent: often six to twelve weeks, and longer if the landlord is slow or the lease needs renewing.
The two things that slow sales down
An asking price above what the profit supports, and a lease problem found late. Both are avoidable: price from the accounts, and read your lease before you list. Our sale timeline walks through a typical sixteen weeks.