Value added services
In addition to just pure dry-cleaning there are lots of other value added services you should think of and should take into account of when buying a dry-cleaner. The addition of a few industrial strength conventional washers and dryers and pressing machines can add even further revenue to your business. Service washes are normally the preserve of the launderette but an upmarket service wash like a shirt-laundering service can also complement your business. In addition you may also get extra revenue on hiring out cleaning equipment like heavy-duty carpet cleaners. You can also add additional specialist cleaning areas like curtain cleaning, duvets, leather and suede, wedding gowns, waxed jackets and things like simple repairs and alterations.
Extra revenue can also be raised from textile rental. Most textile rental services apply to larger dry-cleaners where most of the cleaning is done off site and are aimed at professional end-users like hotels, hospitals, restaurants, canteens and washrooms of large companies.
However the downside is that you have to incur fairly significant upfront investment. Costs include the stock of textile goods, transport costs as you will often need to provide a collection and drop-off service. You also get some misuse and abuse of the goods so the textile life can sometimes be shorter than you originally budgeted for. In addition there are there are complex management problems when it comes to just what you have in stock. However once started revenues can be substantial and there's also the possibility of sell on after the product has reached it's end of rental life.
How much should you pay ?
At the top end of the scale for an established business with around 10-15 years history and some value added services and no local competition then you should expect to pay a couple of hundred thousand. For that you should be able to get a shop with a turnover of around £100,000 with a net profit of around £70,000. In terms of staff you'll probably need - as well as yourself - one full time fully trained member of staff and one part time counter assistant.
At the other end of the scale a basic shop with a single dry-cleaning unit and a short history would set you back about much less but could well give you a decent sales revenue.