Launderettes for sale in Bedworth

View the "The Bulkington Laundrette Bulkington Warwickshire CV12 9NQ" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

  I had the first inquiry within a week and my second inquiry led to the sale of my business!  

Katie Crompton (Sept 2017)
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Leasehold Price: £139,999 Turnover: £64,795 Gross Profit: £54,944
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Business Description
Business
Hilton Smythe welcomes to the market, The Bulkington Laundrette.

The Bulkington Laundrette is a well-established and popular business that was originally founded in the mid 1960’s.

The current owner has owned and run it successfully and lucratively for the last 14 years and is now only selling, albeit with a heavy heart, due to his wish to take a well-earned retirement.

The Bulkington Laundrette as the name suggests is a busy laundrette that also offers a range of other services including;

• Agents for dry cleaning
• Agents for shoe and leather repairs
• Carpet and upholstery cleaner hire
• Engraving and trophy supplies
• Sharpening and key cutting
• The sale of bags, suitcases, purses and wallets, leather belts.

The business has an impressive number of regular customers, many of whom have been using it for years and are known on a first name basis by the current owner who is a popular and well-respected member of the local community.

The business enjoys great visibility on the internet on sites such as www.yell.com, www.thomsonlocal.com , www.yelp.co.uk, ukplaces.com etc

Scope to Improve

• Advertising and marketing campaign
• Maximise the use of social media particularly Facebook and Twitter
• Website to extol the services offered.
• Delivery service to collect and deliver dry cleaning etc
• Introduce an ironing service
• Consider offering an alteration service
• Explore online discounters such as Groupon and Wowcher

Reasons to Buy

• A well-established business with an enviable reputation and many regular customers
• Low running costs with inexpensive rent and no business rates
• Ideal trading position in the popular Bulkington shopping area
• Ideal owner managed or partnership business
• Current owner happy to offer a handover to ensure the continued success
• Would perhaps suit an existing cobbler/key cutter looking for his first foray into self-employment.
• A real opportunity to increase turnover significantly, current owner has been running at a pace to suit
• Living accommodation in the form of a large 3 bed, duplex flat above the shop could be available if required by the new owner.

Hilton Smythe highly advise early viewing to avoid disappointment. This great little business is likely to attract considerable interest.

Location
The Bulkington Laundrette is located in Bulkington in the county of Warwickshire.

Bulkington is a large village and former civil parish in the Nuneaton and Bedworth district of Warwickshire. It’s is located around 6 miles north-east of Coventry, just east of the towns of Nuneaton and Bedworth and 4 miles south-west Of Hinckley.

Speculative private housing development began in the 1930’s and by the 1960’s surrounded the village with expansive suburban areas.

In addition to the greenfield development of the 1960’s, much of the village itself was redeveloped. This involved the creation of a shopping precinct in Leicester Street where the business is located, this vibrant and busy shopping centre has wide pavements and pedestrian areas and gives a really nice shopping experience.

The Bulkington Laundrette sits alongside other complimentary retail businesses such as hairdressers, pharmacy, convenience store, betting shop and cafes. Thus, benefits from high levels of footfall and passing trade.

The business is nicely presented and maintained with clear visible signage and there is free on street parking close by.

Premises
The business occupies the ground floor of a 1960’s inner terraced retail unit and briefly comprises;

Shop:

• Windows and glazed double doors to front creating a light airy and inviting interior
• Suspended ceiling with concealed lighting
• Tiled floor
• Bespoke counter at front of shop with generous wrapping area and perimeter shelving
• Hardo shoe repair machine
• Two key cutting machines
• Range of wall mounted key blanks

The Laundrette area of the shop includes:

• 2 Electrolux W375N Commercial washing machines
• 4 Electrolux W3105N Commercial washing machines
• 5 Electrolux Commercial dryers
• 1 Extra-large Electrolux dryer for quilts and duvets

All washing machines and dryers are less than 3 years old, fully maintained and in perfect working order.

There is an area at the rear of the shop with hanging rails for dry cleaned items awaiting collection.

Storeroom:

Behind the main shop is a useful store room which houses a recently replaced water boiler and water pump.

There is also a staff kitchenette and toilet facilities.

Tenure
The owner of the business owns the Freehold of the business but is offering it as a Leasehold business opportunity, he is happy to negotiate a mutually acceptable lease with a new owner and proposes an annual rent of £7,500 per annum which is incredibly reasonable given the size and location of the business.

If a new owner wishes to rent the spacious flat above the business the vendor proposes a rent for both the business and living accommodation of £13,000 per Annum.

We are advised that the business currently benefits from being exempt from paying business rates

Hours
Monday to Saturday - 8.30 am – 5.00 pm

Sunday - Closed

Staff
The business is run and managed by our client with the help of two part time members of staff.

Financial Profile
The Bulkington Laundrette generated an advised turnover of circa £68,000 with a gross profit of approximately £53,000.

Tenure: Leasehold

Listed by: Hilton Smythe

Find out more about this business opportunity.

 
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B04475
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