Dry Cleaners In Streatham London SW16 For Sale

Business description

The particular highlights of the business are:
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £40,000 pa with a net profit of £10,871 (See financial summary below).
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
- The concern provides dry cleaning services, alterations, watch repairs/batteries and money transfer facilities via Western Union

History
Phoenix Business Transfer Agents are delighted to place onto the market Dry Cleaners which has been established since 1973. The business has been in the hands of the current owner since 2008 and he now wishes to sell in order to emigrate.

Services
This very good business opportunity provides dry cleaning services, alterations, watch repairs/batteries and money transfer facilities via Western Union

Staffing
The concern employs 1 part-time staff and the wages are £15,600.

Owners Role
The owners’ role is managing the business, undertaking alterations, repairing watches and providing batteries as well as the dry cleaning. He works full time.

Marketing
The owner does not market the business and does not have a website.

Competition
As far as competition is concerned there is none in the immediate vicinity

Market
The client base consists of local community and business persons

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 product line to include collection and delivery.
• With the introduction of a website and e-commerce.

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 turnover is £40,000 pa with a gross profit of £20,418 and a net profit of £10,871. The wages are £15,600. The present value of the stock is £2,000.
The potential turnover of the business within the next 2 years is forecast to reach £93,484 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.


Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 15 years with 14 years remaining. The rent is £6,000 pa with a review every 3 yrs. The lease may be renewable or negotiable for longer term if required. The rates are £400.

Leasehold rent:

£6000pa per annum

Location:

- Situated in Streatham area of London SW16.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Area earmarked for regeneration.
- Surrounded by densely populated residential area with schools and other local amenities.
- Local population consists of business persons and local community.
- Area offers exceptional lifestyle.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with A23, B272 and good railway links.

Premises details:

The property is terraced and is part of a parade of shops and is approximately 20ft x 11ft. The front is branded with an attractive glass front. There are electric shutters. The main customer service area is tiled with shelving and racking 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 and staff facilities.

Size in square feet:

20ft x 11ft

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 product line to include collection and delivery.
• With the introduction of a website and e-commerce.

Competition / Market:

As far as competition is concerned there is none in the immediate vicinity

Reasons for selling:

he now wishes to sell in order to emigrate.

Trading hours:

Monday to Saturday: 8.00am – 6.00pm
Sunday - Closed

Employees:

The concern employs 1 part-time staff and the wages are £15,600.

Years established:

38 years

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:

£20,000 (included in the asking price)

Inventory / Stock value:

£2,000