BusinessHilton Smythe welcomes to the market Coles Dry Cleaners, a family run dry cleaning business that has been owned by our clients since 1999 and has been a dry cleaner since the 1980’s, therefore a name that is synonymous with the area. Due to health reasons our client is now looking to sell the business.Coles Dry Cleaners is a traditional dry cleaning company that also has an agent in Long Sutton, another town which five miles is approximately away. A pickup and drop off service happens twice a week. Coles cleans menswear, ladieswear, ball gowns, evening dresses, wedding dresses, curtains, duvets etc and also carries out repairs and alterations.The business has a strong reputation locally with many repeat customers; however, it does not have a website or any social media pages, this is something that a new owner should consider boosting the awareness of the business.There is scope for development by considering:
There are many reasons to buy Coles including:
- Creating a website to increase awareness of the business
- Creating social media pages to increase awareness of the business
- A leaflet/marketing campaign in the villages
- Utilisation of the first floor area
- Only dry cleaning business in the area
- Holbeach is undergoing development with around 200 new homes being built in the next few years
- Our client would consider staying for a limited period for training etc
Hilton Smythe highly advise early viewing to avoid disappointmentLocationColes Dry Cleaners is located in Holbeach, Lincolnshire, on the High Street along with many other local and national companies.Coles is the only dry cleaners in the town and serves the surrounding villages. The town has plenty of free parking and there is a main car park close by.
Holbeach is a Fenland market town in south Lincolnshire and is located off the main A17 which gives access to south Lincolnshire and North Norfolk. Holbeach has a population of circa 10,460 as of the 2011 census.PremisesThe premises are entered directly off the High Street and into the reception area with service counter and hanging rails to both side walls.Behind the counter are the stairs to the first floor and access to the dry cleaning area.The dry cleaning area has:
Firbimatic dry cleaning machine
Firbimatic trevil rotary cabinet
Further hanging space
Door to the rear area
Within this area is a spotting table
Samsung semi commercial 14kg washing machine
Door to the storeroom
Door to outside to a shared courtyard with side and rear pedestrian access and a further storage room
On the first floor are 2 large rooms, the front of which is used as a drying room with numerous hangers etc. The rear room is for storage and there is also a bathroom on this floor.
The first floor could be utilised further by the new owners.TenureWe are advised the business is being sold as a leasehold business opportunity with a 2 year lease from May 2019, we have been advised that the landlord will be willing to extend the lease.
The annual rent is just £7,860 and we have been informed that our clients do not pay business rates.HoursMonday: 9am – 3.45pm
Tuesday: 9am – 3.45pm
Thursday: 9am – 3.45pm
Friday: 9am – 3.45pm
Saturday: 9am -12pm
The new owners should consider opening longer hours in the week and on Saturdays, along with opening on WednesdaysStaff
The business is run and managed by our clients.Financial ProfileColes generated an advised turnover of circa £25,375 as of the 2018 accounts, with a gross profit of £22,365, a net profit of £7,650 and an adjusted net profit of £8,850.
The assets being sold with the business are worth in the region of £5,000
Stock generally runs at £200 - £250