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BUSINESS REFERENCE : IB008 / RightBiz IRONING AND DRY CLEANING BUSINESS | | | | | | Retail and Domestic Laundry, Ironing and Dry Cleaning Business with Additional Home/Office Cleaning Services Confidentially offered for sale Ref No: IB008 Location:Derry, N. Ireland Asking Price: £59,500 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Services | | TRADE TYPE: | Dry Cleaners | | SALE: | Agent Sale | LEASEHOLD: | £59,500 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This company was established by its present owner back in 1997. The need was recognised for a professional high quality laundry, dry-cleaning and ironing company within the area which has a high volume of professional people residing there. The business quickly established itself by providing a very reliable high quality service and has since built itself an enviable reputation for providing friendly and efficient services at competitive prices.
This service is supplied by a well-established, professional and close knit team of staff who understand the importance of customer service in this competitive yet rewarding environment.
Services include laundry, dry-cleaning, ironing and collection and re-delivery. The business benefits from a very high profile location in the town and enjoys good levels of passing trade to compliment its growing regular customer base. There are many opportunities to further develop this business and it represents a very worthwhile investment opportunity.
In addition to this the company has more recently branched out into both the home and commercial cleaning services sector. This has been a natural progression aand many of the customers on the laundry and dry cleaning side of the business are also now utilising these complementary services of the business to clean their domestic and commerical residencies. This service is offered during normal hours and at evenings for commercial offices. This side of the business has been establsihed for one year and is showing strong growth month on month.
Equipment:
The company has regularly invested in good quality capital equipment on an ongoing basis allowing it to keep pace with demand and maintain standards as the business developed. This includes:
· WEYLUX INDUSTRIAL PLATFORM WEIGHING SCALES
· DRYSTREAM TOUCH SCREEN COMPUTERISED TILL SYSTEM (installed last year cost £3500) doubles as business computer
· BROTHER HL2030 PRINTER
· BROTHER T94 FAX MACHINE
· UNDERFLOOR SAFE
· ADT ALRM SYSTEM LINKED TO POLICE STATION & MONITORED BY ALARM COMPANY – 2 PANIC BUTTONS
· ROLLER SHUTTER FRONT
· INTERNAL CCTV 4 CAMERAS RECORDING DIRECT TO HARD DRIVE (£1500last year)
· SEIKO QR-375 CLOCKING SYSTEM
· 12 INDIVIDUAL STAFF LOCKERS
· 3 TEFAL STEAM GENERATOR IRONS
· HAGERTY CARPET CLEANER
· AO SMITH 200LITRE GAS OPERATED WATER HEATER
· ANDREWS 280LITRE GAS OPERATED WATER HEATER
· INDESIT 5KG DOMESTIC WASHER
· 5 SPEED QUEEN TOP LOADING 10LB WASHERS (hot water from water heater)
· 7 WHIRLPOOL TOP LOADING 15LB WASHERS (hot water as above)
· IPSO 35LB 3 PHASE WASHER (hot water as above)
· IPSO 25LB 3 PHASE WASHER (hot water as above)
· IPSO 35LB S PHASE SELF HEATING WASHER ( not installed yet)
· 9 ELECTRIC WHIRLPOOL 2OLB DRYERS
· 16 GAS WHIRLPOOL 20LB DRYERS
· SPEED QUEEN 50LB GAS DRYER
· SPEED QUEEN 25LB GAS DRYER
The business also has two delivery vans that are available to purchase with the business. At present these are not included in the sale price.
· 2005 Citreon Berlingo
· 2006 Citroen Relay
Key Strengths:
· Good Infrastructure
· Reliable committed workforce
· Superb location
· Customer base
· Growth pattern
· Expansion
· New services
Growth and Expansion/ Opportunities:
There is a great opportunity to develop the commercial side of the business inline with the current domestic market the business serves so well. Because of its location the business is well positioned to develop this opportunity alongside its present domestic/retail operation within its current location. Such development would also see a parallel growth in the domestic operation. This would enable the business to fully develop its range of services and offer a complete in-house turnkey operation to meet all clients needs as it currently sub contracts the dry-cleaning element of its services out.
Collection and delivery services need to be expanded. The business currently offers a daytime service but this really needs to be expanded to offer early morning and evening pick up and drops off. This would increase revenues significantly as many of the business’s clientele are professional people.
The business could also benefit from the development of a website, together with more active sales and marketing activity in general to further increase its market exposure and increase revenues. The implementation of some form of database management would also ensure the business fully maximises the opportunities its large customer bank represents.
In addition to this the more recent development of the home and office cleaning business represents a new highly lucrative area of growth and further cements the business’s strong relationships with customers who utilise it’s many services.
Employees:
As well as the owner , who works full time within the business, the operation employs nine members of staff all of whom are employed on a part time basis.
· 3 x Ironing/Laundry Personnel
· 2 x Cleaners
· 2 x Customer Service Advisors
· 2 x Drivers
Advertising and Marketing:
Much of the business's revenue is a result of word of mouth recommendation, bearing strong testimony to the excellent reputation enjoyed by the business since its inceptions over 10 years ago. The business also maintains a good local profile due to its excellent location which provides good visibility and shop frontage. The business has used local newspaper advertising and mail shots in the past but is aware that a more active sales and marketing campaign, including the development of an informative website, would certainly improve sales and profitability.
Premises:
.
The business operates from a prominent retail shop well positioned on a main route within the town. The premises are leasehold with the current lease expiring in July 2011. All services are connected to the building. Current rent is £24,000 per annum. However part of the building is sub-let providing incoming rental of £16,280 per annum. Rates are £5,500 per annum.
There are three floors to the building. The ground floor is occupied by the business and has an excellent shop front on the main thoroughfare with many other retailers including large supermarket close by. The ground floor is approx 3,500sq ft. The first and second floors are occupied by a gym with a separate entrance to the rear. The first floor is approx 3000 sq ft and the second floor approx 520sq ft. The rental income from the gym is £9000 per annum.
A taxi office occupies a separate section on the ground floor – again with a separate entrance at the side. The rental income from this is £7280 p.a.
The building is very secure with full alarm system, window grills, roller shutter doors and internal CCTV cameras.
Business Hours:
Monday-Friday: 0800-1800
Saturday: 0800-1700
Plus evenings for the commercial cleaning services
Financial Information:
The business is offered for sale as a going concern. All financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler. The Company currently enjoys an annual turnover of circa £165,000 per annum with excellent profit margins as you would expect from this line of business. There has been significant growth year on year and this trend is expected to continue as both the services od this company and the customer base continues to expand
Reason for Sale:
Personal/Health Reasons.
Support and Training
There will be a full and seamless handover made available to the purchaser for a period to be agreed as part of the overall negotiations | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | IB008 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
