Chain Of Four Dry Cleaners/launderettes | | Undisclosed Essex | | Chain of Four Dry Cleaners/Launderettes Ref.AP024 Location East London/Essex Asking Price £310,000 | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 57754
ADVERT IMPRESSIONS : 11,148 TIME(S) | | | | BUSINESS SECTOR: | Services | | TRADE TYPE: | Dry Cleaners | | SALE: | Agent Sale | LEASEHOLD: | £310000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Business profile:
This is an opportunity to purchase four dry cleaning and launderette businesses. Located east of London and on the Essex borders, the four branches are all within easy reach of each other. The current owners have managed the business for circa five years, but the businesses have been located at the existing premises for much longer.
One of the four properties currently functions only as a dry cleaner and provides the dry cleaning to the other three launderettes. Unlike many launderettes this business has staff present at all times.
The majority of part time assistants have worked in the business long term. They are from the local area and are well known to and friendly with the large number of regular customers that use the business. The staff are all proficient at delivering the range of services offered by the business. These include ironing, serviced washes, alterations and pressing.
The four branches are located in prominent locations, surrounded by dense residential areas occupied by people with busy lifestyles. This is a high quality, well-equipped dry cleaning, laundry and pressing business primarily serving domestic customers. The business is split with something like 55% of turnover coming from the dry cleaning side.
With turnover in excess of £300,000 per annum from a staff run business this represents an excellent opportunity for an owner operator to significantly to improve profits from this ideally situated business.
Equipment:
The sale includes washing machines valued at circa £11,000, dry cleaning equipment valued at circa £1,500 and a vehicle valued at circa £3,000.
Customer Service:
The business benefits hugely from its team of fifteen experienced staff. Service is crucial in this business and the team know how to deliver in an efficient and organised manner. The staff are friendly and have built up strong relationships with many of the regular customers.
Key Strengths:
The key factors in the success of the business are location, experienced staff and consistent high levels of service.
Growth and Expansion:
With people experiencing an ever faster pace of life the need for the services offered here is growing and is forecast in the near and longer term for significant growth. The business is well positioned to take maximum advantage of this growth as it occurs.
The business does very little marketing and an increase in this area would help to achieve sales growth especially from local businesses.
Premises:
All four branches are secured with leasehold contracts of between three and ten years. Annual rent for the four premises is £43,000 in total; however this figure is reduced by sub-letting residential space to the tune of £16,500.
Business Hours:
Launderettes: –Seven days 8.0 am – 7.30 pm
Dry Cleaners: Monday – Saturday 8.0 am – 6.0 pm
Security:
All four branches have shutters/grills at the front of the properties.
Advertising and Marketing:
The business distributes leaflets in the local area. Offers are promoted in the individual shop windows of the four branches.
Financial profile:
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
Turnover is circa £300,000 and adjusted net profit is circa £88,000.
Employees:
There are fifteen part time employees across the four branches.
Support and Training:
All necessary training and a full handover are available to ensure continuity of trading.
Reason for Sale:
The current owners have a number of other business interests and wish to free up capital to invest in more property. | | | | | | FOR SALE | | | | | REFERENCE: | AP024 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
