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  • Mandate: 31257
  • Added: 06 Jul 2017
  • 1741

Car dealer in Edenvale selling mostly luxury cars, established for 17 Years

Gauteng, Johannesburg
1741
Mandate 31257
Added 06 Jul 2017
R 2,000,000* ZAR
Stock: R 0
Assets: R 68,366
R 44,406 ZAR
Steve Boardman
(PRINCIPAL)
Aldes Central
Gauteng
Summary

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.Contracted with all the banks and finance houses

Car dealer in Edenvale selling mostly luxury cars, established for 17 Years
SELLING PRICE
R 2,000,000* ZAR
Stock: R0
Assets: R68,366
R 44,406 ZAR
Summary

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.Contracted with all the banks and finance houses

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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?
Since 2001

How long has the owner had the business?
Since inception

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?
Yes

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?
Current

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?
Christmas bonuses

Are they on contract?
Yes

Do any have management potential?
The business runs smoothly when the owner is away

How involved is the Owner in running the business?
Fully involved

When does the current lease end?
2019

Is there an option of renewal & what period?
3 year option

What is the annual escalation %?
10%

Is a copy of the lease available?
This can be made available

Do you require a licence?
No

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?
Excellent

Do any require repairing?
No

How have they been valued ?
Owners valuation

Which assets are on lease/HP and with whom?
None

Are they presently insured?
Yes

Strengths?
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

Weaknesses?
Current owner is tired, the business is still profitable but could do much better with an experienced operator.

Opportunities?
Great opportunity to aquire this business and grow it with more cars and advertising

Threats?
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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FRANCHISE DETAILS

Aldes Central

1 members
8 active mandates
Gauteng
Nillsord Avenue
2026

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