Cook Islands Profitable Business In The Service Industry For Sale

Business description

Imagine a relaxed lifestyle in an exotic tropical island location. This is what dreams are made of! Can be run under management: We took four weeks holiday, and came back to a smoothly running business.

Profitable service industry business with immediate cashflow for sale. This is a rare opportunity to acquire a business which enjoys a dominant market position and continues to grow.

Furthermore, there is scope to diversify the services offered within the sector (e.g. house keeping, spare parts, paper products, brushware)

Priceguide: NZ$1.9 mio + SAV + VAT

For further information contact the owner using the 'contact seller' form below.

Note: approval by local authorities may be required.

Property information

Real Estate:

Lease

Lease terms:

Lease terms for Arorangi are being re-negotiated every five years, Muri and Avatiu are extended annually.

Leasehold rent:

$29,500 per annum

Living accommodation:

Currently used by a staff member, accommodation can be used by the new owner if so required (three bedroom house behind the business premises). Will need a bit of TLC.

Location:

Main Road in Arorangi, the busy westside of Rarotonga. Next door to the Tumunu Restaurant, and walking distance to strip mall with Vonnia's, Rite Price Superette, Big Boy Cafe and a liquor store.

Business Operation

Expansion potential:

We often get asked if we hire tablecloths or napkins.
Servicing equipment such as washers and dish washers is required, and currently not done locally.
Importing and sales of brushware, paper products and bath room products is an area worth developing for the expanding tourist industry.
Delivery/Door-to-door service for the domestic market.
Coin laundry operation in dense tourist/backpacker areas.
Coffee/Internet services in small laundries.

Competition / Market:

This laundry is the only commercial laundry in Rarotonga, in fact, in the whole of the Cook Islands. Arorangi is the main operation, where all commercial linen is processed. Muri is a full service laundry with four washing machines and dryers, which is frequented by tourists and locals alike. In June 2011 we opened a third branch in Avatiu, also for the tourist and domestic market. In the absence of any laundromat in the Cook Islands the full service model works well, and gives room to branch out into other areas (i.e. combine with cafe or internet services).

Reasons for selling:

To receive the New Zealand pension law requires to live in New Zealand for a minimum of five years from the age of 50 to be eligible. (The current owner is New Zealander.)

Trading hours:

Arorangi: Mon - Sat 8am - 5pm, Sun 12noon - 4pm; Muri Mon - Fri 8am - 3pm, Sat 8am - 12 noon, Avatiu Mon - Fri 8am - 4pm, Sat 8am - 1pm.

Employees:

23

Years established:

approx. 30 years

Other information

Support & training:

Current owners are happy to help with the transitional period in a mutually agreed time frame (approx. one month)

Furniture / Fixtures value:

$750,000 (included in the asking price)

Inventory / Stock value:

$100,000

Website:

Please click here to view the link