Thriving Dry Cleaners In Sidcup For Sale

Business description

Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £37,000 with a net profit of £11,000 (see financial summary below).
- A business with great potential and very easily run operation.
- The current owner is involved in the day to day running with no staff.
- A good first time buyers business and ideal purchase for a partnership.
- Low rent and rates.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides dry cleaning and washing services.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Dry Cleaning Business which has been established for 30 years. The business has been in the hands of the current owner a number of years and now wishes to sell due to retirement.

Owners Role
The owner is involved in the day to day running of the business.

Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.

Competition
As far as competition is concerned there is another similar business some 2 miles away.

Market
The client base consists of local and passing trade.


Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increasing the opening hours to include full 6 days a week.
• Increasing the product line to include alteration service.
• With an enhanced website.
• Pick up and delivery service to local hotels etc.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.

PROPERTY DETAILS
The property is terraced, part of a parade of shops. The shop is a large open plan unit with a large brick built shed to the rear. There is parking for one car. The front is branded with an attractive glass front. The main customer service area is wooden and carpeted in the work are. It is very well presented and is very conveniently laid out.
There is a toilet, staff facilities and a small kitchen area.

EXTERNAL
To the rear there is a large brick built shed which is used as a store room and boiler room with parking for one car.

EQUIPMENT WITH SALE
All fixtures, fittings and equipment are included in the sale price and are valued at £20,000.
This includes a Hoffman press, Bowe 300 slim line dry cleaning machine, Boiler, 8kg washing machine, 8 kg dryer, a hand press table, Sussi and a industrial sewing machine.

FINANCIAL DETAILS
The present annual turnover is £37,500 with a gross profit of £35,000 and a net profit of £11,000. The present value of the stock is £1,000.
The potential turnover of the business within the next 2 years is forecast to reach £60,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.


Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 10 years with 1 years remaining. The rent is £ 11,000 pa. The lease may be renewable or negotiable for longer term if required. The rates are £3,500.

Leasehold rent:

£11,000 pa. per annum

Location:

- Situated very close to Sidcup Station.
- Prominent location on a main road.
- Free parking and paid parking nearby.
- Part of a parade of shops which is a local shopping area.
- The surrounded area is densely well populated residential area with schools and other local amenities.
- High level of passing trade with the station a short distant away with links to central London.
- Commercially thriving area which is enjoying much growth and regeneration.

Premises details:

PROPERTY DETAILS
The property is terraced, part of a parade of shops. The shop is a large open plan unit with a large brick built shed to the rear. There is parking for one car. The front is branded with an attractive glass front. The main customer service area is wooden and carpeted in the work are. It is very well presented and is very conveniently laid out.
There is a toilet, staff facilities and a small kitchen area.

EXTERNAL
To the rear there is a large brick built shed which is used as a store room and boiler room with parking for one car.

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increasing the opening hours to include full 6 days a week.
• Increasing the product line to include alteration service.
• With an enhanced website.
• Pick up and delivery service to local hotels etc.

Competition / Market:

As far as competition is concerned there is another similar business some 2 miles away.

Reasons for selling:

Owner wishes to sell due to retirement.

Trading hours:

Monday to Saturday: 8.00 am – 7.00 pm and ½ day on Wednesdays.

Employees:

The owner is involved in the day to day running of the business.

Years established:

Established for 30 years

Other information

Support & training:

The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Furniture / Fixtures value:

£20,000 (included in the asking price)

Inventory / Stock value:

£1,000