Archived
Extremely Well Established Laundrette Services Business For Sale
Bedworth, Warwickshire
- Asking Price: £84,995 +SAV
-
Turnover:
We are advised as per the 2021 accounts, the business generated a turnover in the region of £35,000. Further financials can be made available upon further request.
Please quote reference B07015
- Tenure: Leasehold
Please quote reference B07015
Hilton Smythe welcomes to the market, The Bulkington Laundrette. The Bulkington Laundrette is well-established and popular business that was originally founded in the mid 1960’s. The current owner has owned and run it successfully and lucratively for the last 18 years and is now only selling, albeit with a heavy heart, due to his wish to take a well-earned retirement.
The Bulkington Laundrette as the name suggests is a busy laundrette that also offers a range of services including;
- Agents for shoe and leather repairs
- Trophy supplies
- Key cutting
- The sale of bags, suitcases, purses and wallets, leather belts.
The business enjoys great visibility on the internet on sites such as www.yell.com, www.thomsonlocal.com, www.yelp.co.uk, ukplaces.com just to name a few.
Scope to Improve;
- Advertising and marketing campaign
- Maximise the use of social media particularly Facebook and Twitter
- Website to extol the services offered.
- Introduce an ironing service
- Consider offering an alteration service
- Explore online discounters such as Groupon and Wowcher
- A well-established business with an enviable reputation and many regular customers.
- Low running costs with inexpensive rent and no business rates.
- Ideal trading position in the popular Bulkington shopping area.
- Ideal owner managed or partnership business.
- Current owner happy to offer a handover to ensure the continued success.
- Would perhaps suit an existing cobbler/key cutter looking for his first foray into self-employment.
- A real opportunity to increase turnover greatly. Current owner has been running at a pace to suit
- Living accommodation in the form of a large 3 bed, duplex flat above the shop could be available if required by the new owner. This is currently tenanted, so the option to lease the flat may be subject to availability.
We are advised that the business is owner run and managed, with the help of 2 part-time members of staff.
The business hours are -
Monday - 08:30 - 17:00
Tuesday - 08:30 - 17:00
Wednesday - 08:30 - 17:00
Thursday - 08:30 - 17:00
Friday - 08.30 - 17.00
Saturday - 08:30 - 17:00
Sunday - Closed
The Bulkington Laundrette is in Bulkington in the county of Warwickshire.
Bulkington is a large village and former civil parish in the Nuneaton and Bedworth district of Warwickshire. It’s located around 6 miles north-east of Coventry, just east of the towns of Nuneaton and Bedworth and 4 miles south-west of Hinckley.
Speculative private housing development began in the 1930’s and by the 1960’s surrounded the village with expansive suburban areas. In addition to the greenfield development of the 1960’s, much of the village itself was redeveloped. This involved the creation of a shopping precinct in Leicester Street where the business is located, this vibrant and busy shopping centre has wide pavements and pedestrian areas and gives a really nice shopping experience.
The Bulkington Laundrette sits alongside other complimentary retail businesses such as hairdressers, a pharmacy, convenience stores, betting shops and cafes and thus benefits from high levels of footfall and passing trade.
The business is nicely presented and maintained with clear visible signage and there is free on street parking close by.
The business occupies the ground floor of a 1960’s inner terraced retail unit and briefly comprises;
Shop -
Windows and glazed double doors to front creating a light airy and inviting interior, suspended ceiling with concealed lighting, tiled floor, bespoke counter at front of shop with generous wrapping area and perimeter shelving, Hardo shoe repair machine, two key cutting machines, range of wall mounted key blanks.
In the Laundrette area of the shop are 4 Electrolux W375N Commercial washing machines, 4 Electrolux W3105N commercial washing machines, 5 Electrolux commercial dryers, 1 extra-large Electrolux dryer for quilts and duvets. All washing machines and dryers are modern models, fully maintained and in perfect working order.
Storeroom -
Behind the main shop is a useful storeroom which also houses a recently replaced water boiler and water pump.
There is also a staff kitchenette and a WC with hand wash basin.
Tenure
We are advised that the business is being sold on a Leasehold basis, with a mutually acceptable lease with a new owner and proposes an annual rent of £9,000 per annum.
If a new owner wishes to rent the spacious flat above the business, the vendor proposes a rent for both the business and living accommodation of £16,200 per Annum.
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Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83
Rates may differ as they are dependent on individual circumstances. Subject to status.
