Hilton Smythe are delighted to offer to the market Awash Laundry Ltd. Established by our client in 2010 and now offered for sale due to family commitments of our client.
The successful commercial laundry business is available to purchase fully equipped with a client list of over 75. The opportunity will also include a secondary business called 'Absolutely Steaming Ltd' which is run from the same premises and concentrates on the domestic ironing sector.
Awash laundry offers a full pickup and delivery laundry service and linen hire within a 30-mile radius of the business (Berkshire, parts of Hampshire, Oxfordshire and Wiltshire) and includes a varied type of customer from bed and breakfasts, small hotels and serviced apartments to private schools, universities including well know universities in Oxford.
Our clients purchase the linen to be washed weekly on a 3-year contract basis with its clients and therefore is able to predict and plan its work load for each month.
The 75 trusted clients are normally serviced on a weekly basis with an owned van carrying out 20 pick-up and deliveries a day in a 5-day week. Current workload completes an average of 35,000 - 36,000 pieces per month.
All clients will soon be paying invoices for service on a monthly basis by direct debit.
The 'Absolutely steaming ' domestic ironing service has only been run to suit current high demand for this service, which could easily add a further £100,000 to current turnover.
Adding a separate water boiler to feed the current mix of washing machines would allow quicker washing cycles which again would allow the business to take on new accounts. Increasing the size of several of the current machines would also increase capacity without affecting the current unit layout or staffing levels.
Awash prides itself on going the extra mile for its customers which ensure excellent customer retention. A high demand for new accounts in the Hampshire area could also add a further 25% to current turnover.
Our client is willing to offer a hand over period and we are advised there is the potential to expand into an adjacent unit if required.
TENUREWe are advised leasehold.
New 10-year lease with 9 years remaining.
Rent is £18,840 per year
Currently no business rates are payable.
HOURSThe business opens: -
Monday to Friday 6am to 3pm.
STAFFThe business is owner run and managed (part time) with the assistance of a Manager and Supervisor who manage daily operations and 9 full time members of staff.
FINANCIAL PROFILEAs per the 2017 accounts turnover is in the region of £274,500 with a gross profit of circa 94%.
Awash laundry operates from 2 modern industrial units, one circa 880sq ft, the other around 1100sq ft on a small private industrial estate on Green Lane, Thatcham in Berkshire. 14 miles west of Reading and 12 miles north of Basingstoke and 54 miles west of London
The busy M4 motorway is accessed via Bath Road and the M4 is less than 10 mins drive away.
Thatcham is an historic town in Berkshire and has become an affluent part of the south west with over 1000 new homes been built within the area to cater for demand.
Our clients' units enjoys off road customer parking however most clients will be visited directly by the collection service of the business.
2 x adjacent units double in height
External front carpark for 5 including an alley way space for the parking of the company vans
Please contact Hilton Smythe for full asset list.