Fully describe the business's activities?
Franchise which offers the following services to protect and enhance the appearance of your car: Valet/Glaze Vinyl Wraps, anti-smash and grab Interior Interior valet. Fabric protection Leather refurbishment.
How long has the business been established?
The business has been established for 6 years
How long has the owner had the business?
3 years 6 months
How does the business operate on a daily basis?
7.15am to 5.00pm 5days a week
How are the clients attracted to the business?
Advertising in local paper and magazines
What Advertising/Marketing is carried out?
The dealerships are visited daily by the owner
Does the business have any contract work?
It is build into the lease that all vehicles from the dealerships of Audi Volkswagen and Citroon go to the company for work required
What competition exists?
There is one other dealer in the area
What are the seasonal trends?
There are no seasonal trends Work is constant through out the year
Is the business VAT Registered?
The business is vat registered
What VAT documentation is on file?
Vat returns are on file
Are there up-to-date Management Accounts available?
Management accounts are available
What Balance Sheet and Income Statements are available?
December 2016 balance sheet is available
What percentage of the business is cash/credit?
20% is cash and 80%is on credit
What is the age analysis of the debtors book?
Up to 60 days
How could the profitability of the business be improved?
More advertising on the ground and calling on more dealerships
What is the total staff complement?
The business has a complement of 7 staff members including the owner
Give a breakdown of staff/ functions/ length of service?
Owner manager 2 staff valet 1 staff wash bay 1 staff glazing 2 staff tinting and wrapping
Are they on contract?
All staff are on a permanent basis
Do any have management potential?
Not at this stage
How involved is the Owner in running the business?
The owner comes in daily
When does the current lease end?
Is there an option of renewal & what period?
There is a option for renewal for 3years
What is the annual escalation %?
Is a copy of the lease available?
Copy of the lease is on file
What lease deposit and/or other surety is required?
A double payment with first payment
What are the main assets of the business?
Valet and smash and grab equipment Chevy 2014 utility vehicle
Are any items not included in the sale?
All items are included in the sale
What is their overall condition?
How have they been valued ?
They have been valued by a valuator
Which assets are on lease/HP and with whom?
Chev Bakkie with Nedbank on H.P Copy and printer machine on lease
Will Seller settle or Buyer to take over?
The buyer will have to take over the HP and lease
Are copies of agreements available?
Agreements are available
Are they presently insured?
They are insured with F.N.B.
The franchise is well known and utilizes quality products
There is another company in the area that offers the service
There is a huge car market
Other companies offer inferior products at a cheaper price
Why is this a good business?
It is a franchise with a good reputation
What is the price plus stock and the net profit?
R1,337,500 including stock The net profit is R47,900 per month.
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