Dry Cleaners for sale in Peterborough

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Popular Dry Cleaning Business

Peterborough, Cambridgeshire, England

  • Leasehold Price: £64,995  Price Reduced arrow_drop_down
  • Turnover: £84,713
  • Gross Profit: £79,520
Seller Reference: B04953
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Business Description
 
 
 
 
 
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Seller Reference: B04953
Request Details
Business Description
Business
Hilton Smythe welcomes to the market Ovada, which was established by our client in 2007. Our client is now looking forward to retirement.

Ovada is a popular dry-cleaning business with a large client base across the city and surrounding villages including but not exclusive to Dogsthorpe, Bretton, Marholm, Milton, Orton Wistow, Stanground, Hampton Vale and Farcet

Ovada pride themselves in their customer service and are a member of the Guild of Cleaners and Launderers and offer a wide range of services including, dry cleaning, laundry services, local pickup and delivery, clothing alteration and repair, wedding dress cleaning, curtain and duvet cleaning and much more.

They have a few agents in the surrounding area to bring in extra turnover, this is an area that should be looked at to expand in order to bring in further turnover.

The business is highly regarded locally with 5* Google reviews 4.4/5 on TheBestOf and the business is being sold with the website www.ovadatextilecare.co.uk

Ovada is a profitable business, however, there is scope for development by considering:

• Extending agents network
• Opening Thursdays
• Introduction of a social media page


There are many reasons to buy Ovada including:

• Excellent local reputation
• Established business
• Room for growth


Hilton Smythe highly advise early viewing to avoid disappointment.

Location
Ovada is located in the City of Peterborough, Cambridgeshire, on a main road opposite a pedestrian crossing.

Ovada has 2 parking spaces to the rear at the cost of £1776 per annum for the pair, there are numerous car parks locally and one-hour parking for customers directly outside the shop.

Peterborough is a cathedral city with a population of 196,640 as of 2015 and is located on the East Coast mainline from London to Edinburgh.

There are many main road links to the city including A1, A15, A16 and A47.

Premises
Entrance door to the main shop area:

• Hanging display for retail sales
• Service counter
• Metal Progetti clothes hanging machine
• Sidi Mondial rota cabinet
• 2 x Sidi Mondial presses
• Comptel polyrobe machine


Doorway to rear machine room with:

• Sidi Mondial press
• Viking dry cleaning machine
• Girbau dry cleaning machine
• Bowe P12 dry cleaning machine


Doors to:

• Sewing/repairs room,
• Office,
• Kitchen area,
• Staff toilets
• Door to outside.


Sewing/repairs room has Singer, Japsaw and Janone sewing machines and workstations. This is not included in the sale.

Office has storage area and desk

There is a kitchenette and separate male and female toilets.

Outside there is a parking area to the rear of which Ovada has 2 spaces at £1776 per annum

The business is being sold with a Fiat Scudo van registered in 2000

Tenure
We are advised the business is being sold as a Leasehold business opportunity with a 5-year lease that was signed in 2017.

The landlord is flexible regarding the lease.

The annual rent is £11,500 per annum and our client informs us that they do not pay business rates

Hours
The business opening hours:

Monday – Wednesday & Friday: 8.30am – 6pm
Thursday: Closed
Saturday: 9am – 3pm
Sunday: Closed


The business could benefit from opening on Thursdays

Staff
The business is run and managed by our clients, of which there are 3.

Financial Profile
Ovada generated an advised turnover of circa £85,000 as of the 2018 accounts, with a gross profit of £79,520 and a net profit of £43,103

The assets being sold with the business are worth in the region of £20,000

The average stock value is circa £1,000

Our client is comfortable with staying on for a short transitional period

Tenure:
Leasehold
Listed by:
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