Washertosh has many long-standing clients including local letting agents, the local authority, ymca and Saffron Housing Association along with many individuals who are looking to buy pre-owned white goods at reasonable prices.
Our client purchases pre-owned appliances, refurbishes them and then sells them on the open market via the unit close to the Norwich outer ring road.
The business does have 5* Google reviews however there is plenty of scope to improve the business, as Washertosh does not have a website and sells by word of mouth only.
There is further scope for improvement as the business is only open 11.00am - 2.00pm weekdays and 11.00am - 1.00pm on Saturdays, as our client purchases new stock and delivers either side of these hours.
A full-time member of staff could be employed to help man the premises, in order for it to be open longer hours to the public and to also start a repair and parts sales side to the business.
Hilton Smythe highly advise early viewing to avoid disappointment.
Location Washertosh is located in the City of Norwich, Norfolk, just off the outer ring road on a small industrial estate, which is easily located with good parking facilities.
Norwich has a population of circa 132,500 according to the 2011 census.
Premises There is official parking to the front for one vehicle, however, there are plenty of parking spaces very close to the premises.
There is a display forecourt to the front also.
The premises are made up of a showroom area, workshop area, small office area and testing area.
There is a shared kitchen area directly to the side and shared toilet facilities around the corner.
The business is being sold with a Renault Traffic van ’06 registration
Tenure We are advised the business is being sold as a leasehold business opportunity with a rolling lease and an annual rent of £3000.
The Landlord is Norfolk Property Services who act on behalf of the local authority and there are currently no business rates to be paid.
Hours The business opening hours:
Monday - Friday: 11am – 2pm
Saturday: 11am – 1pm
These hours suit our client’s current lifestyle.
The business could be open longer hours and we have been informed that there are no restrictions on opening times on the lease.
Staff The business is run and managed by our client, with the help of a part time member of staff, who helps out for a few hours each week.
Our recommendation would be to employ someone on a full-time basis in order to expand the business.
Financial Profile Washertosh generated an advised turnover of circa £39,270 as of the 2017 accounts, with a gross profit of £32,702 and a net profit of £13,391.
The assets in the business are conservatively worth in the region of £2000
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