| (REF: 1990) Dry Cleaners with 4 Bedroom Accommodation |
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| Seller Reference: |
1990 |
| B4S Reference: |
24386 |
| Asking Price: |
£69,995
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| Net Profit: |
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| Sales Revenue: |
£34,400 |
| Number of Staff: |
Send enquiry for more details. |
| Established For: |
41 Years 0 Months |
| Ownership: |
Leasehold |
| Location: |
Mitcham, South West London, United Kingdom |
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Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £34,000 with a gross profit of £33,000 (see financial summary below).
- A business with great potential which has not been exploited by the current owner.
- An easily run operation.
- A good first time buyers business and ideal purchase for a couple or partnership.
- Low rent and rates.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides dry cleaning, alterations and a self service laundry.
- There is also a 4 bedroom flat with a rental income of £900 per month.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Dry Cleaners which has been established since 1970. The business has been in the hands of the current owner since 1992 and now wishes to sell due to retirement.
Services
This very good business opportunity provides dry cleaning, alterations and a self service laundry.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.
Competition
As far as competition is concerned there is another similar business some 2 miles away.
There is no local competition.
Market
The client base consists of locals and passing trade.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increase the opening hours to include a full day on Wednesday’s.
• Increasing the product line to include service wash and ironing.
• With an enhanced website.
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.
PROPERTY DETAILS
The property is terraced and is part of a parade of shops. The front is branded with an attractive glass front. There are manual shutters. The main customer service area has lino flooring with a large counter.
There is also a self service laundry area with hanging rails to the walls. It is very well presented and is very conveniently laid out.
To the rear is a large work room, a toilet, staff facilities and office space.
FIRST FLOOR
On the first floor there is a 4 bedroom flat with a living room, kitchen/diner, bathroom, toilet and a small box room. The flat has been totally refurbished within the last 6 months. This included windows, bathroom, fully fitted kitchen, new boiler, fridge/ freezer and a washing machine.
EXTERNAL
To the rear is parking for 2 cars and access to the flat.
EQUIPMENT WITH SALE
All fixtures, fittings and equipment are included in the sale price and are valued at £28,000.
FINANCIAL DETAILS
The present annual turnover is £34,400 with a gross profit of £33,000. The present value of the stock is £500.
The potential turnover of the business within the next 2 years is forecast to reach £65,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.
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Property: |
Leasehold |
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Lease Terms: |
The original length of the lease was 20 years with 10 years remaining. The rent is £8,400 pa with a review in 3 years. The lease may be renewable or negotiable for longer term if required. |
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Current Rent: |
8,400 pa |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
On the first floor there is a 4 bedroom flat with a living room, kitchen/diner, bathroom, toilet and a small box room. The flat has been totally refurbished within the last 6 months. This included windows, bathroom, fully fitted kitchen, new boiler, fridge/ freezer and a washing machine. |
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Location: |
- Situated in a busy area of Mitcham.
- Prominent location on main arterial road.
- Part of a parade of shops in the main shopping centre.
- Excellent parking facilities nearby and outside.
- Industrial estates nearby.
- Surrounded by well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area with many shops.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
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As far as competition is concerned there is another similar business some 2 miles away.
There is no local competition.
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The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increase the opening hours to include a full day on Wednesday’s.
• Increasing the product line to include service wash and ironing.
• With an enhanced website.
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The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made. |
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Owner wishes to sell due to retirement |
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Is this a home-based business? |
No |
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Can this business be relocated? |
No |
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Is this business part of a franchise? |
No |
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Monday to Saturday: 9.00 am – 6.00 pm.
Wednesday: 9.00 am – 1.00 pm.
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