Well established laundrette and shoe repairs business
- Asking Price: £99,999 +SAV
The Bulkington Laundrette generated an advised turnover of circa £65,000 with a gross profit of approximately £55,000 as of the 2018- 2019 accounts.
Please quote reference B05963
- Tenure: Leasehold
Please quote reference B05963
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 14 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 dry cleaning
- Agents for shoe and leather repairs
- Carpet and upholstery cleaner hire
- Engraving and trophy supplies
- Sharpening and 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.
- Delivery service to collect and deliver dry cleaning etc
- 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.
The business is run and managed by our client with the help of two part time members of staff.
Monday to Saturday: 8:30am -5:00pm
The Bulkington Laundrette is located 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;
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. There is an area at the rear of the shop with hanging rails for dry cleaned items awaiting collection.
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.
The owner of the business owns the freehold of the business but is offering it as a leasehold business opportunity, he is happy to negotiate a mutually acceptable lease with a new owner and proposes an annual rent of £9000 per annum which is incredibly reasonable given the size and location of the business.
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.
We are advised that the business benefits from being exempt from business rates.