Fully describe the business's activities?
Car dealer in Edenvale selling mostly luxury cars, established for 17 Years with great reputation, seller retiring to the Cape, this business can easily make R200K per month with a vibrant new owner. Everything is in place and has agreements with all the banks for financing
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 sales staff open and close the business
How are the clients attracted to the business?
Walk in customers to the showroom, advertising in cars.co.za which is linked to other websites
What competition exists?
There are a number of car dealers around the area, but few offer the quality cars this business sells
Is the business VAT Registered?
What VAT documentation is on file?
None but it is available
Are there up-to-date Management Accounts available?
Yes to Feb 2017
What Balance Sheet and Income Statements are available?
To February 2017
What percentage of the business is cash/credit?
90% of the business is on financed cars, about 10% are cash deals
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
An enthusiastic new operator can grow this business, it used to net 200k per month but the seller has lost his passion for the business and is going to move to the Cape.
Is Seller finance available and for what amount?
Possibly to the right operator
What is the total staff complement?
Besides the owner there are 6 other staff, one driver, two cleaners, two sales staff and one admin/accountant
Give a breakdown of staff/ functions/ length of service?
The accountant has been there 16 years and the other staff are also long serving
Do any receive special perks or incentives?
Are they on contract?
Do any have management potential?
The business runs smoothly when the owner is away
How involved is the Owner in running the business?
When does the current lease end?
Is there an option of renewal & what period?
3 year option
What is the annual escalation %?
Is a copy of the lease available?
This can be made available
Do you require a licence?
What lease deposit and/or other surety is required?
I Month deposit required
What are the main assets of the business?
Furniture and fittings, computers and goodwill in a well placed modern showroom
Are any items not included in the sale?
Personal items in his office
What is their overall condition?
Do any require repairing?
How have they been valued ?
Which assets are on lease/HP and with whom?
Are they presently insured?
This well established business is in a modern showroom on a busy main road and has been going successfully for 17 years. It has all the banks agreements in place for financing vehicles which is difficult to obtain
Current owner is tired, the business is still profitable but could do much better with an experienced operator.
Great opportunity to aquire this business and grow it with more cars and advertising
None only the general economy, but secondhand cars are much in demand as people move away from buying new cars
What is the reason for the sale?
The seller is building a house in Capetown and moving there at the end of the year
Why is this a good business?
Well placed business with everything in place waiting fora new operator
What is the price plus stock and the net profit?
The business is on the market at R2 million negotiable. Please note the price does not include any car stock, this would be negotiable or the seller will sell off the stock to the trade
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Annual Turnover Amount between R 500 thousand and R 6 million