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Popular Launderette In Densely Populated Area For Sale

North London, London, UK
Asking Price:
£96,000
Turnover:
£78,000
Net Profit:
Under £50K

Stratham Properties are excited to promote a well-established coin-operated launderette in the heart of Crouch End (Hornsey), North London. Since 1984 surrounding local residents have heavily relied on this facility for Laundry, Ironing, and Dry Cleaning services.

As working-class professionals in the area have even less time for household chores, this has enabled an increase in gradual revenue over the past several years. The business has continued to operate throughout the pandemic, as its takings were minimally impacted due to having diversified services.

The business benefits from significant amounts of footfall due to being positioned on a parade with leisure and shopping businesses amidst a densely populated residential area. Our client has informed us that the main demographic/clientele are young families and city-business working-class professionals. The location also benefits from well-established transport links (W5/W7 route) and an easy access front of store parking.

Main sources of revenue come from self-servicing customers using the coin-operated machines, as well as dropping laundry to be serviced by staff. Additional revenue sources consist of an onsite Ironing Service, and an outsourced Dry Cleaning & Alteration service. Delivery & Pickup can also be explored as there is a lack of such a service in the local area.

We are proud to promote this fantastic recession-proof business, ideal for buyers who are looking for a good return on their Investment.

Main Benefits include

- £1,500 PW takings on average. Winter being prime season and Summer being quieter.
- 10 Years left on Leasehold £13,500 per annum. Due for renewal February 2033.
- No Business Rates are applicable.
- Machinery consists of 30lb x 5 Tumble driers, 12lb x 4 Washers, 30lb x 3 Washers, 40lb x 1 Washer, + Water Softener. All are fully paid and included with the sale.
- 5* Google Reviews & reputable and long-term established clientele.
- Located on a busy parade amongst a densely populated residential area.
- High potential for growth (Marketing / Delivery Service / Commercial Service / Key Cutting / Carpet Cleaning).

Our client is withdrawing from the Laundry industry as they are wishing to lessen their working day. They are looking to pass on the current growth in the hands of a buyer who has the passion to continue to manage and grow the business.

For more information, please contact us by using the form below.

Property Information

Property:

Leasehold

Lease Terms:

- 15 Year lease is due for renewal on February 2033.
- Building Insurance Annual fee £536.00

Leasehold Rent:

£13,500 per annum

Location:

- Crouch End, Hornsey. North London
- On a parade with other shops including a Hair saloon, Off-License, Kids Shoes, Post Office, and Cafe.
- Situated in a dense residential area.

Premises Details:

- Shop floor, Office, Toliet, Boiler Room, Ironing Room.

Business Operation

Expansion Potential:

- Strong potential for growth if marketing strategies are employed (Brochures, Leaflets, Website, Google Ads).
- The option of a 3-mile Deviery & Pickup could be explored for attracting new clientele in the souroinding residential area.
- The location also has the capacity and location to establish commercial orders and partnerships.
- Key Cutting and Carpet Cleaning can also be advertised or provided at the location.

Years established:
35+

Contact Seller

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