Posh salon operator Sean Hanna expands
The recession is widening the gulf between the haves and the have-nots in many ways — including coiffure.
Upmarket salon operator and entrepreneur Sean Hanna believes now is a good time to expand and plans to open a further five units in the next two years, to add to his eight salons around London and the south-east.
Hanna says: “I have been through four recessions and been in hairdressing for 27 years. Some people have come through recessions better than others [and] those who still have jobs are almost better off than before and have more money to spend on themselves at the moment.”
Agent Stephen Kane & Co is looking for four 1,500 sq ft units in the home counties. Hanna will open his first salon outside the south-east this spring, at Bristol’s Cabot Circus.
Hanna is known for his luxury salons and takes a “measured approach” to expansion and so has to be pragmatic about lease terms in the desirable locations he requires. For example, the 2,500 sq ft Putney store, which opened last October, is on a 10-year stepped lease at an average rent of £78,500 a year with nine months rent free.
“Our expansion plan is designed to take the business forward strategically in key locations where the client profile and footfall are right,” he explains.