The 150-year-old high street cobbler Timpson once best known for shoe repairs and key-cutting has boosted its dry-cleaning service with the recent acquisition of the dry-cleaning arm of Johnson services group for £8.25m.
In recent years, Timpson has been growing its dry-cleaning services alongside mobile phone repairs and their traditional shoe repair service. With the purchase of Johnson services group dry-cleaning services, Timpson will be upping its offerings to high-end dry-cleaning services to diversify their existing range of services. Johnson services group which includes Johnson Cleaners, Jeeves of Belgravia and Jeeves International made a total revenue of ¢44.2m in December 2015 with profits of £2m.
In addition to their own shops, Timpson’s runs outlets in a myriad of Tesco and Sainsbury’s stores, accounting for a third of its revenues. As the shoe repair service has been on the slump for the past few years, the watch repair service has been smooth sailing.
As far as what the future holds for Johnson? It plans on writing a new chapter for their business, concentrating on expanding the higher margin textile rental business that provides linen and chefs white to hotels, restaurants and catering firms.
Johnson’s managing director, Chris Sander said: “We continue to successfully implement our strategic growth plan, with the disposal of the dry-cleaning business enabling us to focus our efforts on the ongoing expansion of our textile rental activities.”
The Editorial Team, Point Franchise ©
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