Well Positioned Freehold Launderette In Gloucestershire Price Reduced For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £50,000 pa with a net profit of £6,245 (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a husband and wife team.
- Low rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides collection and delivery services for sports clubs, guest houses and small hotels as well as being open to the public.

History
Agents are delighted to place onto the market this Well Positioned Freehold Launderette which has been established since the 1960’s. The business has been in the hands of the current owner since 1988 and they now wish to sell due to retirement.

Services
This very good business opportunity provides collection and delivery services for sports clubs, guest houses and small hotels as well as being open to the public.

Staffing
The concern employs 5 part-time staff and the wages are £6.00 ph.

Owners Role
The owners are involved in the day to day running of the business and work part-time in the launderette.

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

Competition
There is no local competition.

Market
The client base consists of local residents, sports clubs, guest houses and small hotels etc.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include Thursday afternoon and Sunday trading.
• Develop more commercial contracts with local businesses.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website.

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.


The present annual turnover is £50,775 with a gross profit of £47,000 and a net profit of £6,245. The wages are £6.00ph. The present value of the stock is £200.
The potential turnover of the business within the next 2 years is forecast to reach £100,000 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:

Freehold

Living accommodation:

On the first floor there is a spacious 2 bedroom flat with an open plan living room, kitchen and dining room with a fully fitted shower room. Currently rented and generating £4,800pa in income. Above the flat is a very large attic space.

Location:

- Situated close to the town centre and opposite a superstore and petrol station in Lydney, Gloucestershire.
- Prominent location on main arterial road.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A48, M4 and M5.
- Gloucester, Chepstow and Monmouth all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

The property is a double fronted semi detached building and its customer facing area is approximately 750 sq ft. The front is branded with an attractive glass front. The main customer service area is tiled and is very well presented and very conveniently laid out.
The premises have recently been completely rewired at a cost of approximately £6,000.

To the rear is a store room and office. There is a toilet and staff facilities.

First Floor
On the first floor there is a spacious 2 bedroom flat with an open plan living room, kitchen and dining room with a fully fitted shower room. Currently rented and generating £4,800pa in income. Above the flat is a very large attic space.
External
To the rear is a good sized fully enclosed garden.

Size in square feet:

750sq ft

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 and local and internet advertising.
• Increasing the opening hours to include Thursday afternoon and Sunday trading.
• Develop more commercial contracts with local businesses.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website.

Competition / Market:

There is no local competition.

Reasons for selling:

they now wish to sell due to retirement.

Trading hours:

Monday to Saturday: 9.00am – 6.00pm with early closing on Thursday at 2.00pm
Sunday: Closed

Employees:

The concern employs 5 part-time staff and the wages are £6.00 ph.

Years established:

51 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:

£25,000 (included in the asking price)

Inventory / Stock value:

£200