Fully describe the business's activities?
Well established auto body repairer. The business is equipped with the newest technology in the auto body repairs and paint. Private funded work is 25% of total work turn over. This Panelbeaters have 45 years experience in the industry, a commitment to quality service and a satisfied and growing client base. They apply the latest technology in spray painting, panel beating. This panel beater is level 3 BEE approved This Panel beater has been proudly approved by South Africaâ¢s mainstream auto manufacturers, including Toyota, General Motors, Nissan, Renault, Kia and Hyundai. The Property is included in the sale
How long has the business been established?
The business was established in 1969
How long has the owner had the business?
The business was established by the family and the son has taken over.
How does the business operate on a daily basis?
Work is sent to the business by major insurance companies. There are a lot of walk-in customers as well. The customer arrives with their vehicle, an estimator will look at the vehicle and draw up a quotation for the client. The quote is submitted to the insurance company which approves it and send out an assessor. The vehicle is booked in and work begins once the quote is approved by the assessor.
How are the clients attracted to the business?
Word of Mouth Referrals form insurance companies and previous clients.
What Advertising/Marketing is carried out?
Does the business have any contract work?
No, it is registred with most vehicle manufacturers as well as insurance companies.
What competition exists?
There are 5 other body repairers in close proximity to the business.
What are the seasonal trends?
The seasonal trends differ from year to year depending on rainy season etc.
Is the business VAT Registered?
What VAT documentation is on file?
Vat returns are available.
Are there up-to-date Management Accounts available?
Yes with the broker up and until December 2018
What Balance Sheet and Income Statements are available?
Available income statements are January 2018 and ending December 2018
What percentage of the business is cash/credit?
20% cash business 80% credit (Insurance Companies)
What is the age analysis of the debtors book?
30 days from statement
How could the profitability of the business be improved?
Marketing will increase the amount of walk in clients and therefore increase turnovers and profits.
Is Seller finance available and for what amount?
The seller is not open for any type of structure transaction. He is looking for a clean deal.
What is the total staff complement?
Total of 23 staff members.
Give a breakdown of staff/ functions/ length of service?
1 x Manager 1 x Bookkeeper 1 x Receptionist 1 x Estimator 2 x Panelbeaters 1 x Driver 15 x General workers 1 x Spray Painter
Do any receive special perks or incentives?
The manager receive some benefits.
Are they on contract?
Yes standard MIBCO regulations.
Do any have management potential?
There is a manager in place.
How involved is the Owner in running the business?
The owner is involved on a daily basis with most aspects of the business.
When does the current lease end?
The property forms part of the sale and is valued at R6000 000.00. There will be no option to lease the property.
Is there an option of renewal & what period?
To be negotiated.
What is the annual escalation %?
TO be negotiate
What are the trading hours?
Monday to Thursday 07h30 to 17h00 Friday 07h30 - 16h00
What is the square meters of the business?
Property 4000sqm Building 2000sqm
Is a copy of the lease available?
Do you require a licence?
No Licence is required. a Permit to operate as a panel beater is required.
What are the main assets of the business?
All the equipment needed to operate the business as well as the property
Are any items not included in the sale?
No all in
What is their overall condition?
Very good working condition
Do any require repairing?
No. just regular maintenance is done from time to time.
How have they been valued ?
Second hand value from suppliers and the seller.
Which assets are on lease/HP and with whom?
A generator is being leased through Wesbank.
What are their settlement amounts?
+/- R194 000.00
Will Seller settle or Buyer to take over?
Whatever the buyer prefers.
Are copies of agreements available?
Are they presently insured?
The business is well established It is very well known in Pretoria Has qualified staff that knows what they are doing It has a great track record with most vehicle manufacturers as well insurance companies.
Capacity might be an issue should you increase production.
More marketing will increase turn over
What is the reason for the sale?
The seller is looking at other opportunities in other industries
Why is this a good business?
The business has been in operation since 1969 and has a great track record. Constantly show a grow of income year on year
What is the price plus stock and the net profit?
The Total purchase price R17 000 000.00 Profit R4 392 965 per year Including a Building of high standard estimated value of R6 000 000.00
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