THRIVING COMMERCIAL & DOMESTIC LAUNDRY IN PRIME LOCATION PRICE REDUCED
Price:
Leasehold - £185,000
Location:
Isle of Wight , Shanklin
Business Type:
Service Businesses
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 £95,700 pa with a net profit of £72,000. (See financial summary below).
- A business with great potential.
- 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 Commercial and Domestic Laundry and ironing service.
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving laundry which has been established since 1970. The business has been in the hands of the current owner since 2008 and now wishes to sell due to ill heath
Services
This very good business opportunity provides commercial and domestic laundry and ironing service.
Staffing
The concern employs 2 part time 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
As far as competition is concerned there is another similar business some 5 miles away.
There is no local competition.
Market
The client base consists of commercial and domestic clients and tourist for local holiday lets and camp sites.
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.
• Taken on more commercial contracts.
• Increasing the product line to include a dry cleaning agency
• Becoming more efficient with staffing levels which would enable more commercial contracts.
• Employ a full time van driver to increase collections and deliveries.
• 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 £95,732 with a gross profit of 95% and a net profit of £72,150. The wages are £22,356. The present value of the stock is £500.
The potential turnover of the business within the next 2 years is forecast to reach £160,000 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 a very busy area of Shankin on the I.O.W.
- Prominent location on main arterial road.
- A corner plot with Hotels and Holiday accommodation nearby.
- Excellent parking facilities.
- Surrounded by densely 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 with many Hotels and Guest Houses a tourist haven.
- Well linked with the all the I.O.W by road.
- Shankin town center and sea front all lie close by.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.
The original length of the lease was 14 years with 12 years remaining. The rent is £5,800 pa. The lease may be renewable or negotiable for longer term if required. The rates are £900.
Monday to Sunday 8.00am to 9.00pm (365 days a year)
North Yorkshire
£ 750,000
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