Launderettes for sale in Barry

View the "The Laundry Rooms Barry CF63 2HW" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

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Y. MacGregor (Nov 2017)
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Asking price: £190,000 Sale Agreed Turnover: £60,486 Gross Profit: £47,583
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Business Description
Business
Hilton Smythe welcomes to the market this very busy launderette turning over around £60,000 per annum, together with a busy ironing service, which is currently sublet for a healthy rent of £15,600 per annum (this could easily be brought back in house if required).

The business itself has been run by the current owner for the last 6 years and is well known in the area. The owner is now looking to pursue other business interests.

The Laundry Rooms has been trading for several years with steady growth over the last few years, with good quality equipment and fittings and a large first floor 2 bedroom apartment which brings in a further £6,000 per annum. An extensive delivery service is also undertaken by the vendors.

The business has built up an excellent reputation within the area for the high quality of the services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

Website at http://www.thelaundry-rooms.co.uk/contact.html.

We feel there is much scope to increase the turnover further by embarking on a modest marketing campaign to highlight the excellent services offered, together with increasing the deliveries and starting a self-service laundry service, key cutting repairs and clothing alterations or also to possibly sublet the basement.

This is an excellent opportunity for a new owner to take this already busy business to the next level; therefore, an early viewing is highly recommended to avoid disappointment.

Location
Whites Launderette is in the town of Barry, a busy residential and commercial location.

Barry is a town in the Vale of Glamorgan, Wales, on the north coast of the Bristol Channel approximately 9 miles south-southwest of Cardiff.

Barry is a seaside resort, with attractions including several beaches and the resurrected Barry Island Pleasure Park. According to the 2011 census, the population of Barry was 51,502, making it the fifth largest town in Wales.

Easy access can be gained to all surrounding areas via the M4 motorway, Swansea to the West and Cardiff, Newport and Bristol to the East.

The business itself has been run by the current owner for the last 6 years and is well known in the area. The owner is now looking to pursue other business interests.

Premises
An easily managed good sized premises covering around 130 sqm with the main retail shop area 30’5 x 19’9, launderette area 27’ 2” x 17’2”, WC and a basement consisting of staff room and various storage areas 40’3 x 17’2” overall.

A good sized 2 double bedroom apartment with spacious hall, kitchen 16’6” x 12’6”, lounge 18’4” x 17’5”, 2 double bedrooms and bathroom.

The launderette is offered with a substantial amount of good quality equipment to include,
4x ironing beds with iron, vacuum and heater, 2 x tills, various hanging rails and storage cupboards, 6 x industrial washing machines, 5 x standard and 1 x large industrial dryers and much more.

A CCTV system with 3 cameras and free on street parking. An internal inspection is highly recommended to see the potential of this very well priced business.

Tenure
We are advised that the business is being sold as a Freehold opportunity.

The vendors would also consider selling as a Leasehold opportunity with a lease term to be agreed and a rent of £13,000 per annum. The price for the leasehold would be £48,000 or the nearest offer.

Hours
Monday 8:30 a.m. to 5:30 p.m.
Tuesday 8:30 a.m. to 5:30 p.m.
Wednesday 8:30 a.m. to 5:30 p.m.
Thursday 8:30 a.m. to 5:30 p.m.
Friday 8:30 a.m. to 5:30 p.m.
Saturday 9.30 a.m. to 12:00 p.m.
Sunday Closed.

Staff
The business is currently run by 2-part time members of staff. The ironing side is run separately by another team of 4.

Financial Profile
The accounting information for the year ended 31st March 2017 shows a turnover of £49,859 with a gross profit of £47,583 for the laundry only.

The business also receives a rent from the ironing side of the business of £15,600 per annum and a rent from the first floor flat of £6,000 per annum.

According to the VOA website the current rateable value is £6,300 however the owners inform me that they benefit from small business rate relief, so at present only pay rates of £80 per annum.

Listed by: Hilton Smythe

Find out more about this business opportunity.

 
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B04274
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