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When did the company start?The company started in 1997 by buying the business from an existing owner for whom the current owner, Jilly Lynch, worked. The original business turned over about £300 per week. Jilly initially negotiated a 3 month lease so that she could see how the business might develop and then negotiated an extension to this lease for a further ten years.
Image: Jilly's orginal salon premises As sales grew, the space in the original shop was rather limited and so the business moved to its current location closer to the market square in the town. The lease on the current premises is for 25 years with a series of 'break clauses' allowing the owner to get out of the lease. These clauses are at five-year intervals. Jilly would have preferred to buy the premises but did not have the capital to be able to do this. A lease agreement means that the leaseholder has the right to use the premises for an agreed period of time but does not actually own the building - the ownership of the building is retained by the lessor. | Index | Previous Question | Next Question | |