Well-Equipped Self-Service Launderette in Reading

Reading, Reading
REF: S08101

Asking Price:
£119,950
Annual Turnover:
£200,000
Annual Net Profit:
TBC
REF: S08101

Overview

Tenure:
Leasehold
Established:
2017
  • Excellent reputation and loyal customer base
  • Spacious and well-equipped premises
  • Equipment included
  • Friendly, professional team
  • Accommodation included

The business for sale is a well-equipped self-service launderette, which is based in Reading.

Originally established in 2017, the business has grown steadily since its creation and has now gained an excellent reputation and a loyal customer base in the local area.

The launderette is fully fitted with 11 washing machines of various sizes, 8 tumble dryers, 2 extra-large tumble dryers, seating, a folding table, and on-site car parking.

They prioritise providing their customers with a wide range of professional laundry services, including collection and delivery, ironing, repairs, and alterations.

The business has a wide variety of repeat customers, servicing the general public (including a large number of students), cafés, restaurants, and B&Bs.

The well-equipped premises are extremely spacious, which should provide the new owner with the potential to offer additional services.

All equipment is even included in the business sale, so the buyer should be able to get to work straight away.

The launderette is located in a corner, Victorian red brick, three storey building, and even has a full-sized basement, which can be used for storage. The first and second storeys of the premises are self-contained 3-bedroom flats, that are subleased creating an additional income for the business. To the rear of the property, there is an office and kitchenette. There is also a two-storey building, which could either be used for storage, or could be used as further accommodation for tenants (with council permission). The premises are extremely spacious throughout and there are even 2 on-site car parking spaces.

All equipment will transfer over with the business sale, including 11 washing machines, 8 large tumble dryers, 2 extra-large tumble dryers, seating, a dry-cleaning machine with a tumble dryer on top, 2 irons, and a van.

The current vendors are happy to provide an initial transitional period, in which the new owners can learn more about the running of the business.

The current owner took over the company with no prior knowledge of the launderette industry. It is completely possible for the buyer to learn all the necessary information in a handover period with the vendor. However, it could be helpful if the buyer has fantastic attention to detail.

There is huge potential for growth with this business, as the premises are very spacious and there is lots of spare room. This extra space could be used for further business operations, such as offering a linen hire service. There is also the option to continue growing the collection and delivery service.

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  • On-site car parking
  • Residential area
  • Close to university
  • High footfall
  • No local competition
Rent
£22,000
Rates
£0
Lease Term
10
Lease Expiry
2023
Square Footage
TBC
Accommodation Included
Yes
Premises Licence
TBC
Property Value
TBC
Planning
TBC
EPC
TBC

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Accounts
XXXX
Trading Entity
XXXX
Current Ownership
XXXX
Management Structure
XXXX
Number of Employees
XXXX

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