Yes, and it is one of the most common ways salons change hands. A senior stylist or manager already knows the clients and the team, so fewer clients leave, but they often need help funding the price.
An internal buyer removes most of the risk an outside buyer worries about. The clients know them, the team trusts them and they understand how the salon really runs. The catch is money: few stylists have the full price saved.
How these sales are usually funded
- A deposit from savings or family, with the rest paid to you in instalments over one to three years, often called deferred consideration.
- A personal or business loan for part of the price.
- A staged sale, where they buy a share now and the rest later.
Protect yourself
If you are being paid over time, you are effectively lending the buyer money. Have the arrangement written up properly by a solicitor, with security if possible, and keep the price realistic so the salon can afford the instalments.
It is still worth knowing what an outside buyer would pay before you agree a figure, so you can judge whether an internal sale is good value.