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Private & Commercial Laundry Services Company
Highest quality standards

Ref. AP028

Location : Gloucestershire

Asking Price : £140,000 +Net assets

Turnover : £320,000

Net Profit : Undeclared

Gross Profit : £291,000

EBITDA : £56,000

Net Asset : £50,000

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

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Leasehold

Asking price includes:

Turnover 2018 circa £320,000 per annum
Gross profit circa £291,000 per annum
Adjusted Pre Tax Net profit circa £56,000 per annum
Net Asset value circa £50,000

Very well established
Excellent reputation
Motivated, trusted staff
Comprehensive & attractive website
Excellent supplier relationships

Business Profile

Established in 2009, this is an opportunity to purchase a professional laundry that is located in the heart of Gloucestershire’s high net worth demographic communities. The business provides its high quality services to private homes, holiday lets, boutique B&B’s and hotels.

The business was founded by the current vendor after identifying a clear need in the area for a fine linen laundry of the highest standard; and this has meant that the company’s reputation has been earned by virtue of setting the standard and maintained thereafter.

The activities of the business divide into two principle areas, being firstly the commercial services where a reputation for fast turnaround, flexibility and professionalism from beginning to end has been well earned. Secondly the laundering of domestic bed linen for homeowners seeking the best quality service for their linen, shirts and duvets etc..

These commercial customers include luxury hotels, B&B’s and property lets who demand the highest standards of service and quality.

The commercial laundry service has a rigorous quality control and ensures consistently maintained standards.
• All articles are counted and checked in on receipt
• Treatment for any stains requiring attention
• Appropriate use of specific products and programmes for all laundry
• All articles not up to standard will be re-laundered prior to delivery
• Everything is hand finished and prepared by highly experienced staff
All equipment is top of the range commercial laundry machinery, guaranteeing high standards of performance and with a comprehensive range of programme options that allows the company to select accurately, the optimal process for all laundry.

The company’s team of laundry experts services private and domestic laundry requirements in and around Oxfordshire and Gloucestershire. Services include:

• Bed Linen – hand finished
• Shirt Service – hand pressed, folded, hanging or folded & wrapped for travel
• Table Linen – tablecloths and napkins, folded; spills and stains treated
• Duvets, mattress covers, bedspreads etc. –items often too large for a home machine
• Dry Cleaning – expert dry cleaning for clothing and soft furnishings (Dry cleaning is contracted)
A regular collection and delivery service is provided for all customers by means of a modern branded vehicle.

This opportunity should appeal to someone looking to add to a similar business or for someone wishing to start out on their own with an interest in this market.

Location

The company operates from modern premises located on a busy, modern and popular trading estate with easy access to main trunk roads within the delivery area of Gloucestershire and Oxforshire.

The trading estate is near one of the most popular and attractive Cotswold Towns, right in the heart of this Area of Outstanding Natural Beauty.

Quality Assurance:

The company operates well within all the required standards for Health & Safety.

Customer Service:

The business aims to give a personal and professional service to ensure customers get the measure of service and quality that will earn both loyalty and referrals..

Key Strengths:

• Reliability and service integrity
• People – employees are very experienced and motivated
• Specialist service for the Oxfordshire & Gloucestershire areas
• End to end process from collection to delivery
• Company name recognition regionally

Key Opportunities:

• Develop the reputation and expand the existing sales area
• Considering a second branch could be another option
• Opportunity for further growth within the commercial side of the business
• Excellent opportunity to market the business further

Financial Information:

The business is being offered for sale on a going concern basis: all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

Turnover 2016 circa £313,000 per annum
Gross profit circa 128,000 per annum
Adjusted Pre Tax Net profit circa £60,000 per annum
Net Asset value circa £57,000

Asking Price:

The asking price of £140,000 + Net Assets is for 100% of the issued capital of the company, assuming net assets of £50,000 on completion (calculated on a zero cash – zero debt basis). The final selling price will have a £1 for £1 adjustment for any rise or fall in this benchmark Net Asset figure of £57,000 at completion.

Advertising and Marketing:

The business has a professional and attractive website to attract new business and archives successful telephone enquiries from this activity.

Growth and Expansion

There is plenty of room for expansion. The company services a modest number of customers 5x days per week and until just 5:30 pm and has the internal capacity to manage a significant increase with a new owner with a greater motivation to drive new sales and marketing.

Premises:

The premises are leasehold and rent is paid on a rolling annual basis with no breaks. The premises are circa 2,200 square feet in floor area, arranged over two floors and includes a reception, offices and machine rooms on both floors.

Annual rent is circa £16,000
Rates are circa £3,800

Employees:

The business is managed and run by the vendor and is ably supported by the following employees.

6x Full time employees including:
1x Operations Manager
1x Supervisor
4x Operators/Laundry Assistants

4x Part time employees including:
2x Drivers
2x Laundry Assistants

Support and Training:

The vendor is happy to stay on at the business for an agreed period to ensure a smooth handover.

Reason for Sale:

The owner is reluctantly placing the business on the market for personal reasons.

Looking for finance ?

If you are looking for finance to fund your business purchase then we recommend that you talk with our independent finance broker. Because of his many years working at a senior level for a major high street bank he has had more success with finance applications than anyone else we know. He has helped numerous purchasers of businesses that we are selling, including buyers who have been turned down by their own bank! Call us today on 0800 046 1652 or email us at finance@turnerbutler.co.uk

Turner Butler Disclosure Statement

This statement applies to information relating to any company or other undertaking or business advertised for sale by Turner Butler (a 'Business')

The information supplied by Turner Butler on its website or in any other promotional material ('the Information') is not and is not intended to constitute an offer for sale of the Business or any assets of the Business or of the shares of any company which owns the Business.

For the avoidance of doubt there is no intention to create a legal relationship which will only come into existence when a written contract for sale and purchase of the shares in or the Business has been entered into

The Information provided is not intended to address your particular requirements. Further the Information does not constitute any form of advice recommendation representation endorsement or arrangement by Turner Butler and is not intended to be relied upon in making (or refraining from making) any specific decisions.

Any agreements transactions or other arrangements made between you and any client of Turner Butler are at your sole risk and responsibility. The prospective sellers of the Business have provided the Information to Turner Butler. The Information has not been verified by Turner Butler.

You must carry out your own due diligence and satisfy yourself as to the accuracy of all matters. In the case of the sale of shares in a Business the Information has been prepared on the basis that the shares will consist of or include more than 50% of the voting shares and that both the seller and the buyer is either a body corporate, a partnership, a single individual or a group of connected individuals so as to fall outside the scope of regulated activities as defined by the Financial Services and Markets Act 2000. If you are considering a transaction which falls within the scope of such regulated activities you cannot do so through Turner Butler.

Appropriate professional, legal and accountancy advice should be obtained before making or refraining to make any decision.

Turner Butler does not accept any responsibility or liability for loss or damage of any nature that may occur by reliance on the Information. Neither Turner Butler nor any of our employees or agents makes any representation as to the completeness or accuracy of the Information nor do we accept any liability for any losses, costs, liabilities or expenses which may arise directly or indirectly from your use of, or reliance on the Information.

This document is governed by and shall be construed in accordance with English Law and any dispute arising in connection with it shall be subject to the non-exclusive jurisdiction of the English courts

Turner Butler
Ickenham House, 2-4 High Road, Ickenham, Middlesex, UB10 8LJ
Telephone 01895 25 6000 Facsimile 01895 25 7777
info@turnerbutler.co.uk
www.turnerbutler.co.uk