Please Quote Reference B05808
Hilton Smythe are pleased to have been given the opportunity to manage the sale of Monarch Laundry which is a well-established Laundrette with a renowned reputation amongst residents. This is a superb opportunity to take on a well-used local business in an area teeming with customers.
The business was founded over 55 years ago and the current owner has run it as Monarch Laundry for the last 30 years or so and it has been a real labour of love for her accruing many regular customers and an enviable reputation.
The business is now being sold, albeit reluctantly and with a heavy heart only due to a wish to take a well-earned retirement, the vendor is keen to see her beloved laundrette pass to an ambitious and entrepreneurial new owner who can take this already thriving business to the next level.
Catering for the local area around Coventry Monarch Laundry offers a complete laundry service taking care of regular household laundry as well as difficult items such as suedes, leathers and duvets. The business offers their expertise as well as a friendly environment to make the weekly washing run easy and cheap. The business can even help their customers with onsite alterations and getting rid of tough stains from football or rugby kits.
Monarch Laundry prides itself on offering;
- Helpful service.
- Quick turnarounds.
- Tackling tough stains.
- Dealing with difficult items.
- Specialist and delicate washes.
- Ironing and dry cleaning.
The business offers a 10% discount to customers who quote and offers free Wi-Fi throughout the business.
The sale will include the company website and Facebook page and the business enjoys great visibility on the internet.
Reasons to buy:
- A well-established business with an enviable reputation and many existing customers.
- Little or no competition locally.
- Low running costs with inexpensive rent and no business rates.
- Ideal owner managed or partnership business.
- Current owner happy to offer a handover to ensure the continued success.
- All fixtures and fittings included making this a real Turnkey business opportunity.
Hilton Smythe highly advise early viewing to avoid disappointment.Location
Monarch Laundry is in Coventry.
Coventry is a city, administrative centre and metropolitan borough. The conurbation consists of the Coventry and Bedworth Urban Area and is the 20th largest in the country. Historically part of Warwickshire, at the 2011 census Coventry had a population of 316,915 making it the 9th largest city in England. It is the second largest city in the West Midlands region, after Birmingham.
Coventry is 10 miles east- southwest of Birmingham, 24 miles southwest of Leicester, 11 miles north of Warwick and 94 miles northwest of London and is the most central city in England.
Monarch Laundry is ideally positioned in a small but unusually busy and vibrant shopping parade.
The business sits alongside other complimentary retail businesses and thus benefits from high levels of footfall and passing trade. The business is nicely presented and maintained with clear visible signage and distinctive livery.
Monarch Laundry is situated in a densely populated residential area which comprises a mix of property types including owner occupied, private rented and local authority housing.
There is free on street parking immediately outside the premises.Premises
Monarch Laundry occupies the ground floor of a purpose-built retail unit and is presented and maintained to the highest standards and briefly comprises;Shop;
Windows and glazed door to front creating a light, airy and inviting interior, tiled floor, fluorescent lighting, 6 x adc commercial dryers, Spencer SL10 dryer, 4 x ISPO16 commercial washing machines, 3 x Electrolux W74 washing machines, customer seating area, wood panelling to walls, desk area, 2 large industrial dryers.Workshop;
There is a generous workshop with hot water system, perimeter shelving and floor storage space.Workshop;
There is a further attached workshop which house the large water storage system.Garden;
There is a secure garden with gate leading to a secure yard.Tenure
We are advised that Monarch Laundry is being sold as a leasehold business opportunity.
The existing lease is arranged on a monthly rolling basis and we are advised that the landlord would be happy to negotiate a mutually acceptable lease with a new owner.
The rent is £800 per calander month which is reasonable given the size and location of the premises.
We are advised that the business benefits from being exempt from business rates.Hours
Monday to Friday: 08.00 – 18.00
Saturday: 09.00 – 18.00
Sunday: 10.00 – 14.00Staff
The business is run and managed by our client with the help of one full time and one part time member of staff.Financial Profile
Monarch Laundry generates an advised current turnover of circa £40,000 per annum but it needs to be appreciated that the business is being run at a pace to suit and has enjoyed higher turnover previously. For further information please reference B05808.