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Business Services
UK - London
Date Rated:
Valuation (Pre Money):
Industry: Business Services
Location: UK - London
Platform: Crowdcube
£150,000 Expansion
Valuation: £1,000,000
Date Rated: 05/05/17



Tax Status: EIS

Business Summary

Love2Laundry is a laundry and dry-cleaning delivery service taking orders through an app and a website. Love2Laundry has a database of over 5k customers already in London and has been profitable since inception. This round of investment will be mainly used to fund digital marketing and to support geographical expansion.

Financial Overview

Date (y/e) Jul-18 Jul-19 Jul-20 Jul-21 Jul-22
Sales Jul-18£1,071,160 Jul-19£2,145,597 Jul-20£3,885,615 Jul-21£6,950,377 Jul-22£12,738,605
Gross Profit Jul-18£614,776 Jul-19£1,253,350 Jul-20£2,282,116 Jul-21£4,089,094 Jul-22£7,526,102
GP as % sales Jul-1857% Jul-1958% Jul-2059% Jul-2159% Jul-2259%
Overheads Jul-18£473,455 Jul-19£789,533 Jul-20£1,349,304 Jul-21£2,345,575 Jul-22£4,124,578
Operating Profit Jul-18£141,321 Jul-19£463,817 Jul-20£932,812 Jul-21£1,743,519 Jul-22£3,401,524
OP as % sales Jul-1813% Jul-1922% Jul-2024% Jul-2125% Jul-2227%
Closing Cash Jul-18£334,342 Jul-19£705,397 Jul-20£1,451,647 Jul-21£2,846,461 £5,567,679

Note: This financial information has been sourced from the company on 05/05/2017. Financial data is NOT verified by Wheatfromchaff Ltd.
Once a full-time sales and marketing Manager is in place, the team will have a complete team with all the skills required to expand the business.
Although the team is new to the industry, they have demonstrated they can achieve commercial traction already. However, experienced advisors would help to accelerate growth.
The Founder has invested £20k and three years into the business and the team has been able to establish a profitable company from day one.
Although the laundry industry is worth around £1bn, the company's addressable market is still limited to Greater London with the intention to cover all of the UK within two years.
The team has built a strong customer database with 80% retention rate helped by a mobile commerce strategy and the installation of laundry lockers in large developments.
There is already significant competition in the industry and the services provided are very similar, but the company is gaining market share through its partnership strategy.
Love2Laundry has diversified its revenue streams and intends to launch a strong marketing campaign whilst closely controlling overheads to maintain ongoing profitability.
Given that the company is already profitable, this round of investment will provide ample headroom if the team can deliver 40% of its sales projections.
No exit plan has been provided. However, investors could expect a tenfold return within five years if the team can deliver this forecast.


The team has developed a small but profitable company with good customer reviews. Growth slowed however last year, so these funds will be crucial to invest in IT to speed up their logistics and to invest in sales & marketing expertise to drive customer acquisition.

Further London expansion looks easy to execute, but covering the whole of the UK will be a significant challenge that could lead to delays in implementation and to a more complex business with additional overheads.

Related Links

Crowdcube Pitch


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