Fully describe the business's activities?
Dry cleaning, laundry, alterations, shoe repairs. The business includes two depots however there is no lease for the one.
How long has the business been established?
25 Years plus
How long has the owner had the business?
How does the business operate on a daily basis?
The business is owner run buy the seller and his wife
How are the clients attracted to the business?
Only through word of mouth
What Advertising/Marketing is carried out?
Does the business have any contract work?
There two own depots and then also used by a bunch of other depots
What competition exists?
There are various competitors as in normal in the industry
What are the seasonal trends?
Busier in winter
Is the business VAT Registered?
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
Seller will have current ones drawn up
What Balance Sheet and Income Statements are available?
2016 is available and 2017 is in process
What percentage of the business is cash/credit?
Card 60% Cash 40%
What is the age analysis of the debtors book?
Some of the depots and these are current with 30 days
How could the profitability of the business be improved?
Additional depots and more laundry work
Is Seller finance available and for what amount?
What is the total staff complement?
Give a breakdown of staff/ functions/ length of service?
2 x Press 1(2) on Tailoring 1 x General does everything
Do any receive special perks or incentives?
Are they on contract?
Yes they have employment contracts
Do any have management potential?
One of the staff members knows how everything is doen
How involved is the Owner in running the business?
Full time, Wife opens in the morning and the husband collects from depot on way in, Husband closes in afternoon and wife drops off at depots on way home
When does the current lease end?
Is there an option of renewal & what period?
Yes, normally for three years
What is the annual escalation %?
What are the trading hours?
Mon-Fri 06:00-18:00 (However that is by seller choice) Sat 06:00-13:00
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
What are the main assets of the business?
As per the asset list
Are any items not included in the sale?
What is their overall condition?
Do any require repairing?
Ongoing repairs and maintenance is performed
How have they been valued ?
Which assets are on lease/HP and with whom?
Are they presently insured?
Very well established and known, well trained and knowledgeable staff, excellent small shopping centre
Can double capacity on the existing machinery
What is the reason for the sale?
Annual Turnover Amount between R 500 thousand and R 6 million