Business For Sale,Businesses For Sale,Laundry,Dry Cleaner,Ironing,Cleaning,Washing,Johannesburg,Gauteng Business For Sale
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Laundry Johannesburg
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Business For Sale


BUSINESS FOR SALE OVERVIEW


Laundry very well established for 30 years, can run in addition to any other business interests.


BUSINESS SELLING DETAILS

  Selling Price     635,000   Turn Over Per Month     63,330 
  Stock Included   Profit Per Month 20,000
  Assets Included  635,000   R.O.I %  38%
  Total Price   635,000    



BUSINESS MANDATE INFORMATION
 History and Overview Of The Business
Fully describe the business's activities  The business operates as a Laundry/Laundrette of many years standing . Drop-Off and Self-Service + Dry Cleaning.
When was the business established? The business was established in 1990 and has therefore been operating in the area for 30 years.
How long has the owner had the business? The current owner has owned the business since 2005 - 15 years.
 How Does The Business Operate
How does the business operate on a daily basis The security guard of the building opens at 7.00 am. 3 x Staff arrive at 7.30 am. Owner comes in at about 8.00 am. Owner oversees during the day but need not be there full time.
How are the clients attracted to the business? A number of the clients are long-standing customers so word-of-mouth plays a part and also because the business has been in the area for 30 years it is well-known.
What Advertising/Marketing is carried out? None. This is an area that can make an immediate impact to both top- and bottom-line. There are nice residential areas on either side of the business, there are also numerous restaurants and fast-food places as well as guest houses in the area which can all be lobbied for business.
Does the business have any contract work? Although not formal contracts, they have some guest houses, hairdressers, beauty parlours and nail bars who use their services every daily/weekly and are billed monthly.
What competition exists? There are two other laundries but they are about 5 kms away and do not affect this business.
Seasonal Trends? December and January is busier and school holidays in general are also busy but generally spread nicely over the year
 Financial Information
Vat Registered?  No
Management Accounts? Yes, there are management accounts to February 2020.
Audited Financials? These are available to February 2019.
What as Cash/Credit Split? 80% of the business is cash and about 20% is EFT.
Debtors Book Age Analysis There is one 30-day account. All the rest are at current on the debtors list.
How can you improve the profitability? More contract work from Guest Houses, Hairdressers, Beauty Parlours and Nail Bars etc in the area. A tailor/garment alterations, shoe repair service and a key bar/key cutting service will all add to the attraction of people to the store.
   Staffing Of the Business
What is the total number of Staff? There 3 x members of staff plus the owner.
Staff Breakdown Each staff member has their own customers and they service those clients. All 3 do washing and ironing. Average of about 10 years service by staff members.
Are the staff on Contract? Yes, they have letters of appointment.
How involved is the Owner in running the business? Owner comes in everyday but the business and staff operates on its own.
  Premises Of the Business
When Does the Current Lease ends? Month-to-month lease currently but landlords are happy to negotiate a new lease with new owners.
Is there an option to renew? To be negotiated with the landlord but normally 3 to 5 years.
What is the annual escalation %  10%
What are the Trading Hours? Mon - Fri: 7.30 am (Self-service 7.00 am) to 5.30 pm (Self-service to 8.30 pm) - Security guard of building locks up.
What is the square meters? Approximately 300 square meters.
Do You require a license? No licence is required to run this business.
 Assets Of The Business
Full Asset List available? 10 x Washing Machines, 3 x Big Dryers, 2 x Small Dryers, Irons, Ironing Boards, Office Desk and Chairs, Shelving and Racking.
 What is condition of the assets 10 x Washing Machines and the Dryers are in good order. Serviced regularly and as needed.
 Any Assets on Lease/HP that Buyer needs to take over? No assets are on lease or HP.
 Are they insured at the moment? Yes, business and assets are insured.
  SWOT Of The Business
 STRENGTHS History of 30 years in the area, well known, knowledgeable staff. Known for exellent service. Long-standing customers.
 WEAKNESSES Lack of marketing. This would make an immediate difference to the business at very little cost initially.
 OPPORTUNITIES Bringing in a tailor/alterations person, shoe repairs section, key bar and key cutting service. Drop-off and collection to clients as an added-value service will attract more business.
 THREATS None really.
 Summary
Why is this a good business This business need not take up every hour of your day - you can run this business whilst running other businesses. Has a good reputation for service. Has excellent growth potential with some decent marketing and addition of tailor/alterations service, shoe repairs and key bar and key-cutting service. Offering more guest houses, restaurants, fast food places and beauty parlours and nail bars their services will see quick increases to top- and bottom-line.
Why is the owner selling it? The owner wishes to retire.


Business For Sale,Businesses For Sale,Laundry,Dry Cleaner,Ironing,Cleaning,Washing,Johannesburg,Gauteng Business For Sale

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have viewed this page since 06 April 2020