Fully describe the business's activities?
The business is a franchised retail sweet shop in the bussiest mall in town. The owner regularly ensures that staff are informed of their duties. Stock purchases are done from the suppliers. Customer satisfaction and meeting their demands are priority.
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
The shop is kept clean and neat, shelves are kept organized and fully stocked and walk in customers are assisted.
How are the clients attracted to the business?
The shop is located in the centre of a very busy mall, close to the entrance of the cinema with high foot traffic and excellent visibility. A wide range of unique and imported products are stocked.
What Advertising/Marketing is carried out?
The landlord, as well as the franchisor do advertising.
Does the business have any contract work?
What competition exists?
No immediate competition within that retail space.
What are the seasonal trends?
School holidays are very busy as the foot traffic in the mall increase.
Is the business VAT Registered?
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
What percentage of the business is cash/credit?
80% Cash and 20% Card.
What is the age analysis of the debtors book?
Is Seller finance available and for what amount?
What is the total staff complement?
Give a breakdown of staff/ functions/ length of service?
Responsibilities are shared between staff and all 3 have been employed between 2 and 3 years.
Do any receive special perks or incentives?
Are they on contract?
The permanent staff are on contract.
Do any have management potential?
How involved is the Owner in running the business?
When does the current lease end?
Is there an option of renewal & what period?
Yes, for 5 years.
What is the annual escalation %?
What are the trading hours?
09:00 - 20:00 Fridays and Saturdays 09:00 - 21:00
What is the square meters of the business?
60 square meters.
Is a copy of the lease available?
The lease will be made available for due diligence.
Do you require a licence?
Standard business trading licence.
What lease deposit and/or other surety is required?
The landlord can require 4-6 months of rental guarantee.
What are the main assets of the business?
Shop fittings, pop corn machine and signage.
What is their overall condition?
Do any require repairing?
How have they been valued ?
Estimated values from owner.
Are copies of agreements available?
Are they presently insured?
Location, High foot traffic, Good will of 17 years and the support of a well established and well known franchise.
Adding fun exciting products to the range and occupying kiosks within the mall.
What is the reason for the sale?
The owner needs to sell due to personal health reasons.
Why is this a good business?
Highly profitable, well established and an excellent track record for the past 17 years.
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