This Somerset dry cleaning business operates from two premises in adjacent Somerset towns. In addition, it has several agency partnerships that provide additional drop off and collection points for customers.
The majority of revenue is generated from dry cleaning services, although it also provides, laundry services and alterations and repairs. While the majority of revenue is from ‘over the counter’ domestic activity, it also provides contract services to local independent schools, care homes and laundries.
In addition to the vendor and his wife, there are 4 employees who are expected to wish to remain with the business. Th vendor and his wife both currently work part-time and could be replaced by a single individual.
The main premises, of about 960 square feet incorporates a retail area with counter and display fittings and in addition a packing area, production area, boiler room and office. The freehold to the building, owned by the limited company, is also available to purchase.
The additional premises consists of a large retail area, an office and rest area. The shop is fully fitted with bespoke reclaimed wood counter shelves, and a large work table. The property ls leased, with a new lease to be agreed on the sale of the business.
The current owner is of retirement age, and hence the business is being marketed for sale.
Prior to Covid the business had additional premises and a turnover in excess of £400k. However, for the reasons above, the vendor chose to scale back the number of outlets and currently generates revenue of c £150k with profits before owner drawings of c £20K. However, the opportunity to re-introduce additional outlets remains.
The guide price for assets and goodwill is £80K to include equipment and machinery (including a fully equipped vehicle) with a combined book value of c £26k. In addition the main shop freehold is available at market value (c £120,000). The vendors will provide appropriate handover support.
