Long Established Freehold Dry Cleaners in Edgware With Extensive Accommodat
Price:
Freehold - £499,000
Location:
Middlesex , Edgware
Business Type:
Service Businesses
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 £45,000 pa with a net profit of £3,015 (see financial summary below).
- A business with great potential which has not been exploited because of a lack of investment in marketing and additional complimentary services.
- An easily run operation.
- A good first time buyers business and ideal purchase for a husband and wife team
- Low rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides dry cleaning, repairs and alterations, laundry, suede and leather cleaning and shoe repairs via a third party.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Freehold Dry Cleaners which has been established since 1960. The business has been in the hands of the current owner since 1986 and he now wishes to sell due to family issues.
Services
This very good business opportunity provides dry cleaning, repairs and alterations, laundry, suede and leather cleaning and shoe repairs via a third party.
Staffing
The concern employs no staff and is family run.
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 local residents from a densely populated residential area.
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.
• Develop agents from nearby convenience stores and newsagents etc.
• Increasing the services provided to include key cutting, commercial contracts, and delivery and pick up.
• Becoming more efficient with staffing levels.
• 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 annual turnover is £46,108 with a gross profit of £44,545 and a net profit of £3,015.
The present value of the stock is £500.
The potential turnover of the business within the next 2 years is forecast to reach £92,000 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.
- Situated in the South Parade area of Edgware in Middlesex.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a 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 A5, A4140 and M1.
- Edgware, Stanmore and Harrow all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.
Monday to Saturday: 8.30am to 6.30pm
Sunday: Closed
On the first and second floors there is a spacious 4 bedroom apartment with kitchen, living/dining room, bathroom with W.C. and a separate W.C. The apartment has independent access. The apartment is currently rented and generates £1,200 per month. (Not included in the financial summary below).
North Yorkshire
£ 750,000
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