History and Overview Of The Business
|
| Fully describe the business's activities |
Laundry, Dry Cleaning. Key Cutting, Shoe Repairs, Ironing, Tailoring |
| When was the business established? |
5 years |
| How long has the owner had the business? |
Since September 2016 |
How Does The Business Operate
|
| How does the business operate on a daily basis |
Items are either collected or delivered to premises, service provided on a 24 hour turnaround basis |
| How are the clients attracted to the business? |
Word of mouth, advertising and personal contact |
| What Advertising/Marketing is carried out? |
Franchisor advertises on behalf of the brand |
| Does the business have any contract work? |
Yes - 5 or 6 contracts |
| What competition exists? |
Normal competition |
| Seasonal Trends? |
December is the busiest month of the year. November, December and January are busiest of the year. |
Financial Information
|
| Vat Registered? |
No |
| Vat Documentation on File? |
Not registered |
| Management Accounts? |
Yes to April 2017. Up to June available soon. |
| Audited Financials? |
February 2017 |
| What as Cash/Credit Split? |
70/30 |
| Debtors Book Age Analisys |
30 days |
| How can you improve the profitability? |
Canvassing of B & B's in the area. |
| Is Seller Finance available and if so what is it? |
No |
Staffing Of the Business
|
| What is the total number of Staff? |
10 Staff |
| Staff Breakdown |
All multi-task at various sections as required. |
| Staff Special Perks and Bonuses? |
No |
| Are the staff on Contract? |
No |
| Does any of the staff have management potential? |
Yes - one currently runs operation on a day to day basis |
| How involved is the Owner in running the business? |
From opening until 10am daily. |
Premises Of the Business
|
| When Does the Current Lease ends? |
Month to month, as landlord is aware that business is for sale |
| Is there an option to renew? |
A 3 year lease will be required, with option to renew for further 3 years. |
| What is the annual escalation % |
8% |
| What are the Trading Hours? |
Mon to Fri 7am to 6pm
Sat 8am to 1pm |
| What is the square meters? |
82m² |
| Is a copy of the lease available? |
Yes |
| Do You require a license? |
No |
Assets Of The Business
|
| Full Asset List available? |
5 Speed Queen washers and 5 Speed Queen dryers. Industrial washer and dryer. Steam boilers and steam irons. Industrial sewing machine, overlocker, scale etc |
| Anything not included in the sale? |
No |
| What is condition of the assets |
Good |
| Any Assets on Lease/HP that Buyer needs to take over? |
No |
| Are they insured at the moment? |
Yes |
SWOT Of The Business
|
| STRENGHTS |
Well known franchise with over one dozen franchisees. Only commercial machines are used and this is a full service business, not a coin operated laundromat. |
| WEAKNESSES |
Non perceived. Laundry businesses have shown themselves to be sustainable even in economic downturns. |
| OPPORTUNITIES |
Most Bed & Breakfasts need a laundry service to handle bedding laundry on a daily or weekly basis. No serious canvassing has been done, to attract new customers, as the current growth has been phenomenal. |
| THREATS |
None identified
|
Summary
|
| Why is this a good business |
This is a fully fitted commercial laundry, with the best Speed Queen commercial machines and full franchisor back up, if assistance is required. |
| Why is the owner selling it? |
Owner has other business interests and can only spend a few hours each day at this one. He feels that it has now grown to such an extent that it needs hands on management to grow to full potential. |