Long Establish Dry Cleaners In Croydon For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £36,500 pa with a net profit of £32,700(see financial summary below).
- A business with great potential which has not been exploited by current owner.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for couple or partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides dry cleaning services.

History
We are delighted to place onto the market this long establish dry cleaners which has been established since 1990. The business has been in the hands of the current owner since 2000 and now wishes to sell due to retirement.

Services
This very good business opportunity provides dry-cleaning and Key cutting.

Staffing
The concern employs 1 part time person. The wages are £100 pw.


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
There is no local competition.

Market
The client base consists of locals and passing.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include full 6 days a week.
• Increasing the product line to include repairs and more commercial contracts.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• 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.


The present annual turnover is £36,500with a gross profit of £32,700and a net profit undisclosed. The wages are £100pw. The present value of the stock is £1000.
The potential turnover of the business within the next 2 years is forecast to reach £70,000 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 we 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. We will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

The present annual turnover is £36,500with a gross profit of £32,700and a net profit undisclosed. The wages are £100pw. The present value of the stock is £1000.
The potential turnover of the business within the next 2 years is forecast to reach £70,000 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 we 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. We will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 10 years with 10years remaining. The rent is £9.500pa. The lease may be renewable or negotiable for longer term if required. The rates are £1800

Leasehold rent:

£9500pa per annum

Location:

- Situated in the busy area of the high street in Catertham.
- Prominent location on main arterial road.
- Part of a parade of shops
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the main shopping area.
- Caterham main line station lies close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

The property is terraced, part of a parade of shops. The front is branded with an attractive glass front. The main customer service area is carpeted with shelving to the walls. It is very well presented and is very conveniently laid out.

To the rear is a store room. There is a toilet, staff facilities and a kitchen area.

External
To the rear is a yard.

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include full 6 days a week.
• Increasing the product line to include repairs and more commercial contracts.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• With an enhanced website.

Competition / Market:

There is no local competition.

Reasons for selling:

The original length of the lease was 10 years with 10years remaining. The rent is £9.500pa. The lease may be renewable or negotiable for longer term if required. The rates are £1800

Trading hours:

Monday/Tuesday/Thursday/Friday: 8.30am - 6.00pm
Wednesday: 8.30am – 1.00pm
Saturday: 8.30am - 3.00pm

Employees:

The concern employs 1 part time person. The wages are £100 pw.

Years established:

21years

Other information

Support & training:

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.

Furniture / Fixtures value:

£25,000 (included in the asking price)

Inventory / Stock value:

£1,000