Ref. No - BFS00350
South Africa, Western CapeRef. No - BFS00350
Sector - Sales & Services
Summary
The CBD of Cape Town continuously go through renovations and developments amounting to billions of rands- the adjacent V&A Waterfront is also expanding with the only space available is in the direction of the CBD of Cape Town
This laundry situated in the CBD of Cape Town is thus ideally situated to benefit from these expansions- the laundry caters from both the commercial and domestic market- ie hotels/offices/guest houses/B&B places/restaurants/conferences etc
The fact that this laundry is open 24/7 for 365 days distinguishes it from other laundries and thus receives laundry after hours from some of above target markets, which clients can fetch before offices etc open the next morning
It thus caters for all laundry requirements ie washing/drying/folding/express services/scheduled pick-ups/drop-offs- the only service that is outsourced is dry cleaning
The 5 staff members work on shifts and is well qualified and experienced to run the laundry effectively
Walk-in clients even receives a welcome drink- the laundry has a stable income with a long lease in place, and all equipment is in working order
Give me more informationHow long has the business been established?
2010
Is the business VAT Registered?
Average monthly turnover R135,000
Average expenses R88,000
Average NP (EBITDA) R47,000
Rental R17,000 excl VAT- 3 years remaining for 5 years lease- 8% escalation
All financials can be verified via POS system/bank statements etc
3 Selling price
R880,000- this gives you a 64% ROI (EBITDA)!!
How many employees?
5
When does the current lease end?
There is 3 years left on the existing 5 years lease but a new owner will negotiate a new lease
What is the annual escalation %?
8%
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