Andrew Bayliss Hairdressing based at Agincourt Square, Monmouth has acquired its existing premises after a £280,000 investment supported by Barclays. The independent hairdressing salon currently employs 8 staff and expect revenues to reach £300,000 this year.
Andrew Bayliss, founder of Andrew Bayliss Hairdressing said:
“I started working in my mum’s salon when I was 14, making tea and sweeping hair. In 1996 we moved from the Midlands and we opened a salon together in Raglan which we still operate today. In 2011 I opened the new salon in Monmouth which we have now acquired, placing a valuable asset on the company balance sheet.”
Emma King, Barclays Business Manager, said:
“As champions of local business, it is essential that we support local businesses such as Andrew Bayliss Hairdressing. By really understanding the business and issues they have faced, Barclays has been able to support Andrew throughout the transfer of ownership. The investment has secured the future of the business and removed the annual rental costs from the business.”
Andrew Bayliss continues:
“The acquisition also allows us to expand the business as we will be investing another £100,000 to refurbish the first floor of the building to create a colour lounge with 6 additional work stations. As we have acquired the entire 5 storey building, I have not only purchased our business premises but also bought a home. I will be converting some of the property into my personal dwelling above the business which should hopefully make the commute to work a breeze.”
For further details, visit www.andrewbaylisshairdressing.co.uk