Listing Id: 26456
Total Views: 1528
(Sold) Profitable Hybrid Online-Offline Laundry Collection Service For Sale
Central Area
Date Closed: 09/03/2023
Asking Price: S$195,000
- Overview
- Reason For Sale
- Description
- Business Operation
- Property Information
Overview
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Premise Type
Neighbourhood
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Premise Size
N/A
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Monthly Rental
N/A
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Rental Desposit
S$2,000
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Revenue
N/A
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Liability
N/A
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Gross Profit
N/A
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Net Profit
N/A
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Stock
N/A
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FFE
N/A
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Payable
N/A
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Receivable
N/A
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Owner Role
Investor
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Staff
1
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Established
2017
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Source
Direct Seller
Reason For Sale
Owner has another 2 businesses and aim to concentrate in the other 2 businesses.
Description
+ A high profit double-digit margin business with positive cashflow since 2017.
+ A regular customer base of more than 3000.
+ A re-occuring revenue business model with >65% of customers use our services on a weekly basis.
+ An e-commerce business where customers make their purchase through their mobile phones (through our customerized mobile app: available both in ios & anroid), and customers make their payment through their mobile phones.
+ Customers buy advanced credits and no cash transactions between the business and customters.
+ An innovative, contactless and high technology business model to the traditional laundry and dry cleaning industry in Singapore.
+ Mobile application and technology are locally developed, and supported in Singapore.
+ Established logistics and factory to support the actual washing & dry cleaning.
+ First of it's kind in Singapore, featured by Nanyang Technological University, Straits Time and e2i.
+ The business is debt free and liability free.
+ The business comes with an outreach of close to 30 different locations, located around condos and apartments.
+ Minimum day-to-day management required of the owner/investor.
Business Operation
The business comes with the mobile application, available in both ios and andriod, with latest updates. Online ordering management system & logisitcs mobile app. Close to 30 laundry collection points nationwide in Singapore. Total asset is about S$250,000.
Facilities
Closet competitions come from: (1) People wash & iron their own clothes; (2) Other retail laundry outlets and home delivery services.
However, we are still at an advantage because:
+ We have no debt or liability. This is a positive cashflow business with double digit profit margin for each wash.
+ Customers buy laundry and dry cleaning credits in advanced. This also increase customer stickiness as they are less likely to switch to competitor service.
+ Unlike physical laundry retail shops, we are located at our customer's condominium (i.e.: right at their doorstep) and we are available 24/7. Customer can do their laundry anytime and there is no need for them to carry their bulky and heavy laundry far. We also don't have to hire people to be stationed in each outlet as this is a truly e-commerce laundry & dry cleaning services.
+ Unlike laundry home deliveries, customer do not need to be at home for collections / deliveries. Most importantly, there will be no wasted trips by the logistic team (due to no one at home) as everything is done via our proprietary locker-based laundry system.
Competition
(1) Service expansion
We are currently providing dry clean and laundry services. There is a possibility to include:
+ alteration services & bag and shoes cleaning services.
+ Locations for other last mile delivery services.
+ Advertisement on our locker locations.
(2) Location expansion
+ We are currently at ~ 30 locations. Location expansion can be done easily whenever there is a new condominium. As we have already got the infrastructure (mobile app + order management system + Logisitic website) setup, each time there is a new location, the location can be added easily in the system with no cost.
+ The business has a potential to be expanded overseas (e.g. Japan and HK), where people normally send their clothes for washing and ironing services.
Other than condominiums, locations can be extended to retail malls and in office buildings
Expansion Potential
Yes, we can provide a one-month support & training to the buyer. We will coach new owner/investor in cashflow management, credits management, IT helpdesk, logistics and backend support.
Support and Training
Technology. Finance. Leadership.
Background & Skills
Property Information
Min. rental at each location.
Premises Details
Yes, it can relocate to other place
Relocatable
Yes, it can work at home
Home Base
Singapore