How long has the business been established?
This furniture, decor and gift shop was established by the current owner in 1991 in KZN midlands and was relocated to the South Coast in 1997. Because of expansion, the business moved to bigger premises in 2006. They stock a variety of furniture and decor products.
How long has the owner had the business?
The owner started the business in 1991.
How does the business operate on a daily basis?
The business is a retail outlet in a busy shopping mall on the KZN Lower South Coast. It has a prominent position in the mall with significant footfall.
How are the clients attracted to the business?
Marketing is mainly done by and through the shopping centre by means of advertisements within the local newspapers and posters, etc. The centre has a high foot traffic and therefore the business benefits from the foot traffic and especially so during season. The business also benefits from repeat dealings with holiday home owners, and is also supported by Decor businesses.
What competition exists?
There is some competition in the area, but with a different style of furniture and decor
What are the seasonal trends?
Traditional holiday season shows sales peaks
Is the business VAT Registered?
The business is Vat registered and vat returns will be available to serious buyers.
Are there up-to-date Management Accounts available?
To be supplied to a serious buyer
What Balance Sheet and Income Statements are available?
Current year and previous year
What percentage of the business is cash/credit?
Approximately 90% of the business is cash and the remainder is lay buys.
Give a breakdown of staff/ functions/ length of service?
The owner runs the business daily, with the assistance of a temporary staff member who helps out from time to time.
How involved is the Owner in running the business?
The owner is 100% involved in the business.
Is there an option of renewal & what period?
A 3 year lease is in place with an option to renew for another 3 years which commenced August 2013. A deposit to the value of 3 months rent would need to be paid by the new tenant, acquiring the business. A copy of the lease would be made available to a buyer with serious intent. Escalation is 8% per annum.
What are the trading hours?
Trading hours are Monday to Saturday, 08h30-17h00 and Sunday 09h00-15h00
What is the square meters of the business?
The shop covers an area of 175 sq m.
Are any items not included in the sale?
One ornament would not be included in the sale of the business.
Which assets are on lease/HP and with whom?
None of the assets are on HP or lease and they are not insured.
- Long established - Well located - No competition in the centre - Custom made furniture
- Create a web site - Expand the range of product - Increase profitability by aggressive advertising
Down turn in the economy
What is the reason for the sale?
The owner will be relocating after the sale of the business
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Annual Turnover Amount between R 500 thousand and R 6 million