Established Dry Cleaners With Accommodation In London For Sale

Business description

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 £40,000 with a net profit of £7,517 (see financial summary below).
- A business with great potential which has not been exploited by the current owners.
- 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 full dry cleaning, alterations and laundry service.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Established Dry Cleaners which has been established for many years. The business has been in the hands of the current owner since 1990 and now wishes to sell due to retirement.

Services
This very good business opportunity provides full dry cleaning, alterations and laundry service.

Staffing
The concern employs no members of staff.

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 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 Wednesday’s.
• Increasing the product line to include commercial contracts and an ironing service.
• 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, part of a parade of shops and is approximately 530 sq ft. 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.
There is a toilet and staff facilities.

FIRST FLOOR
On the first floor there is large living room and a kitchen/ dinner.

SECOND FLOOR
On the second floor there is a double bedroom, bathroom and a toilet.

EXTERNAL
To the rear, there is a large garden and storage shed.

EQUIPMENT WITH SALE
All fixtures, fittings and equipment are included in the sale price and are valued at £12,000.
This includes 2 Hoffman presses, spotting table, Sovrana computerised dry cleaning machine, poly-bag machine, brother commercial sowing machine, compressor, boiler, cash register, washing machine and a tumble dryer.

FINANCIAL DETAILS
The present annual turnover is £40,464 with a gross profit of £37,045 and a net profit of £7,517. The present value of the stock is £1,000.
The potential turnover of the business within the next 2 years is forecast to reach £80,000 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.

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 12years remaining. The rent is £12,500 pa with a review in 3 years. The rates are £650.

Leasehold rent:

£12,500 pa per annum

Living accommodation:

FIRST FLOOR On the first floor there is large living room and a kitchen/ dinner. SECOND FLOOR On the second floor there is a double bedroom, bathroom and a toilet.

Location:

- Situated in a very busy area of Camberwell in South East London.
- Prominent location on main arterial road.
- Part of a parade of shops with pubs and restaurant 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 of South East London.
- Well linked with central London by bus and train.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 530 sq ft. 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.
There is a toilet and staff facilities.

FIRST FLOOR
On the first floor there is large living room and a kitchen/ dinner.

SECOND FLOOR
On the second floor there is a double bedroom, bathroom and a toilet.

EXTERNAL
To the rear, there is a large garden and storage shed.

Size in square feet:

530 sq 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 including local and internet advertising.
• Increase the opening hours to include Wednesday’s.
• Increasing the product line to include commercial contracts and an ironing service.
• With an enhanced website.

Competition / Market:

There is no local competition.

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.

Reasons for selling:

Owner wishes to sell due to retirement.

Trading hours:

Monday to Friday: 7.30 am - 6.00 pm.
Wednesday: Closed.
Saturday: 8.30 am - 6.00 pm.
Sunday: Closed.

Furniture / Fixtures value:

£12,000 (included in the asking price)

Inventory / Stock value:

£1,000