Leasehold Dry Cleaners Northwood London For Sale

Business description

The particular highlights of the business are:
• The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
• 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 £60,000 with a net profit of £45,000. (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because the owner wishes to retire.
• An easily run operation.
• A good first time buyers business.

Phoenix Business Transfer Agents are delighted to place onto the market this very well run dry cleaners which has been established since 1997. The business was started by the owner and he now wishes to sell due to retirement.

This very good business opportunity provides a quality dry cleaning service. Garments are normally priced from £4 onwards. It also provides repairs, and all types of cleaning.

The concern is a family owned concern.
The owner does no marketing for the business.
As far as competition is concerned there are other dry cleaners in the area but this business offers the best service in the area.

The client base consists of locals many of which have been loyal clients for many years.

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 Sundays.
• Increasing the number of agents used from only one at the moment.

The owner would be available for a business familiarisation period of one week 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.

Financial Details
The turnover for 2008 was £60,000 and a net profit of £45,000. There is also an income derived from an ironing business who gives the owner £ 6,000 p.a. The present value of the fixtures fittings and equipment are worth £25,000.
The potential turnover of the business within the next 2 years is forecast to reach £80,000 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.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 14 years with 2 years remaining. The rent is £14,000. The rates are £4,700pa.

Location:

This superb business opportunity is situated in the Northwood area of London. It is on a main arterial road and enjoys much traffic flow and there is a good foot flow of pedestrians. There is a residential area surrounding the property and it is within a commercially thriving part of the area. There is ample free parking nearby. The business is cited on a corner plot and enjoys a very prominent location.
The area attracts many shoppers who use the area on a daily basis and there are many local facilities including banks and many other retailers. There are also busy industrial estates nearby.
The location is well linked with the A40 and the city lies 14 miles away. There is an underground railway station close by.

Premises details:

The property is terraced and is part of a parade of shops and is approximately 28 ft x 30 ft. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area is carpeted with a service counter to the front. To the rear are the preparation area and staff facilities.

Size in square feet:

28 ft x 30 ft

Other information

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 Sundays.
• Increasing the number of agents used from only one at the moment.

Competition / Market:

As far as competition is concerned there are other dry cleaners in the area but this business offers the best service in the area.

Support & training:

The owner would be available for a business familiarisation period of one week 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.

Reasons for selling:

Owner wishes to sell due to retirement.

Trading hours:

The business operates from Monday to Saturday between 9am and 6pm.

Furniture / Fixtures value:

£25,000