Sectors / Category

Annual turnover

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  • Mandate: 34211
  • Added: 02 Jan 2022
  • AFS
  • 165

Domestic and contract laundry in the Midlands of KZN

KwaZulu-Natal, KwaZulu-Natal Midlands
165
Mandate 34211
Added 02 Jan 2022
R 650,000* ZAR
Stock: R 5,000
Assets: R 541,442
R 15,242 ZAR
John Londal
Aldes Accolade
KwaZulu-Natal
KwaZulu-Natal
Summary

A long established laundromat with an excellent reputation and track record. There is still an opportunity to grow the business.

SELLING PRICE AFS
R 650,000* ZAR
Stock: R5,000
Assets: R541,442
R 15,242 ZAR
Summary

A long established laundromat with an excellent reputation and track record. There is still an opportunity to grow the business.

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Fully describe the business's activities?
Domestic and commercial laundry

How long has the business been established?
20 years

How long has the owner had the business?
18 months

How does the business operate on a daily basis?
Operates 24 hours per day. Contract laundry is collected and delivered daily. There is walk in domestic laundry as well.

How are the clients attracted to the business?
Word of mouth and reputation for quick turnaround, quality of service and competitive pricing.

What Advertising/Marketing is carried out?
A web site has been developed.

What competition exists?
There is only one serious competitor.

How did the Covid-19 pandemic impact the business turnover / daily operations?
The business turnover was severely impacted on because during lockdown there were no walk-in customers but the business was able to provide an essential service to the institutions such as Hospice and old age homes.

What steps / actions have been taken to combat the effect of Covid-19 pandemic?
The business registered as an essential service provider. The Dept. of Labour inspected the premises and approved of the protocols implemented for the safety of the staff and customers. All chemicals for the laundry are SABS approved and comply with sanitisation requirements.

Is the business VAT Registered?
Yes

What VAT documentation is on file?
All VAT documentation is on file and available to qualified buyers.

What Balance Sheet and Income Statements are available?
The annual financial statements for year ended February 2021 are available to qualified buyers. The figures in the financial report have been extracted from these statements and adjusted for the Owner's drawings and non-cash items.

What percentage of the business is cash/credit?
20% cash and 80% credit.

What is the age analysis of the debtors book?
Current/30 days

How could the profitability of the business be improved?
Improve infrastructure and water heating. Employ a sales person.

Is Seller finance available and for what amount?
No

What is the total staff complement?
12 permanent staff

Give a breakdown of staff/ functions/ length of service?
1x Manager - 1 year service 1x Supervisor - 1 year service 2x Drivers - 1 year & 2 years service 8x General - 1 year to 10 years service

Are they on contract?
Letters of appointment for permanent staff.

Do any have management potential?
Yes.

How involved is the Owner in running the business?
Minimal involvement due to another business interest.

Any special arrangements for the staff related to the Covid-19 pandemic?
The Dept of Labour have laid down the rules for the Laundromat which the business is complying with, such as: Staff have their temperatures taken and sanitise on arrival and departure Special clothing has to be worn Premises are sanitised daily Only two staff in the canteen at any one time Social distancing in the work place

When does the current lease end?
30 April 2023

Is there an option of renewal & what period?
Option for 2 years

What is the annual escalation %?
An amount to be determined in writing by both parties three months prior to the date of commencement of the renewal period.

What are the trading hours?
For walk in customers the shop is open: Mondays to Fridays 07:30hrs to 17:15hrs Saturdays 07:30hrs to 16:00hrs Sundays 08:30hrs to 13:00hrs Laundry works 24 hours per day on demand: Day staff work 7 hours Night staff work 10 hours

Is a copy of the lease available?
Yes, to qualified buyers.

Do you require a licence?
No.

What are the main assets of the business?
Washing machines, tumbler dryers, irons and motor vehicles

Are any items not included in the sale?
Bar fridge. Mitsubushi Cantor 4 ton with high body. This vehicle maybe suitable for the contract work and is available for the Buyer to purchase at R120,000.

What is their overall condition?
Good

Do any require repairing?
A dryer and top loader require repairing but are not required for the current work load.

Which assets are on lease/HP and with whom?
Generator.

Will Seller settle or Buyer to take over?
Seller to settle

Are they presently insured?
No.

Strengths?
Long established business with an excellent reputation for quick turnaround, quality service and competitive pricing. Manager and skilled staff that are able to work with minimal supervision

Weaknesses?
Current weakness is the strict protocols during Covid-19.

Opportunities?
Profit can be improved if Owner managed. Increase marketing and introduce social media advertising. Employ a sales person.

Threats?
State of the economy.

What is the reason for the sale?
The Owner has another business that is remote from the Laundromat and requires his full time attention.

Why is this a good business?
This is a profitable manager run business with potential to grow.

What is the price plus stock and the profit?
Price R645,000 + Stock R5,000 =Total price R650,000. Profit for year ended February 2021 R182,906

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AGENCY DETAILS

Aldes Accolade

2 members
11 mandates
KwaZulu-Natal
8 St Michaels Road, Hilton
3245

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