Dry Cleaners for sale in London

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Two Busy Dry Cleaners in Prime Locations

London, England

  • Leasehold Price: £875,000  Price Reduced arrow_drop_down
  • Turnover: £790,000
  • Gross Profit: £411,037
Seller Reference: B05191
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Business Description
 
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Seller Reference: B05191
Request Details
Business Description
Business
Hilton Smythe are highly privileged to present to the market one of London’s most well established and more importantly well regarded Dry Cleaning Businesses. Established by our client over 40 years, the successful business is now being sold due to his wish to retire.

Many Dry Cleaning businesses would dream to have the client list and customer footfall type these 2 shops enjoy and all the services they offer are never on price ... but on the quality! As an agent, we identify the business is currently being run to suit our client and with the right approach to advertising the current turnover could quite easily be taken to the £1M mark.

Both shops offer excellent dry cleaning of both ladies and gents clothing including very expensive dresses and suits which are carefully cleaned using the very best dry cleaning products. Many customers can't believe the new appearance of their garments when returned which over the years has ensured loyalty and praise.

Number one - offers all dry cleaning services, alterations to all types of garments, shirt laundry/pressing (approx 300-400 shirts per week), key cutting and shoe repairs. Turnover is split between walk in collections and the delivery service offered.
Number two - again offers full high quality dry cleaning services, alterations and shirt laundry/ ironing (up to 700 shirts per week here). Both collection and delivery services offered.

Our client has over 100 account customers and a prestigious VIP client on the books.


We believe there are many areas any new buyer may look to add to, to continue the success of this tremendous business, these include -


  • A new website with online ordering facility

  • Social media presence

  • New advertising campaign

  • Approaching the many hotels in the area for guest cleaning services

  • Adding both key cutting and show repairs to the Number two store


Due to the enviable locations and lease agreements on both stores, we recommend early viewing to avoid disappointment. Our client will offer a full business handover period to any new buyer.

 

Location
The dry Cleaners operate in 2 highly desirable London addresses.

Number one - the shop sits along a busy parade of independent retailers, cafes and restaurants as well key High Street brands including Sainsbury's, Cote and Waitrose as well as major Banks/Building societies. The business is minutes away from prominent hotels.
Number two - the tree lined avenue is highly desirable with an array of high end restaurants, independent retailers including a renowned butcher, furniture emporium and book shops. The area also offers some of London's finest examples of residential grandeur. 


Both businesses offered metered customer parking on both the main trading street and within the streets behind.

Premises
Number one - large dry cleaning machine, washing machines, spotting table, ironing tables, drying cupboard, key cutting machine, shoe repair machine, sewing machines and over locker, CCTV throughout, alarm system.
Number two - larger site which includes several rooms to the lower ground floor level. Large dry cleaning machine, more washing machines, specific shirt ironing equipment, hanging rails, sewing machines and over locker, CCTV throughout and alarm system.


There are 2 delivery vans included in the sale.

Tenure
Both shop units are offered in a Leasehold bases
Number one - 15/12 remaining paying £45,000 per year. Business rates payable are £15,494 per year.
Number two - 10/3 remaining paying £72,900 per year. Business rates £31,374 per year.


Hours
MONDAY TO FRIDAY - 7.30am to 7pm
SATURDAY - 8.30 to 6pm
SUNDAY - closed


Staff
The business is run and managed by our client’s family with the help of 16 members of staff including cleaners.



Financial Profile
The businesses enjoyed a Turnover in 2018 of just under £800,000 with an adjusted net profit in the region of £300,000. Assets valued at approx £150,000.

Tenure:
Leasehold
Listed by:
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