Sectors / Category

Annual turnover

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  • Mandate: 31466
  • Added: 01 Nov 2017
  • AFS
  • 985

3 star Guest Lodge with 146 beds

Mpumalanga, Mpumalanga Other Areas
985
Mandate 31466
Added 01 Nov 2017
R 17,050,000* ZAR
Stock: R 0
Assets: R 0
R 198,401 ZAR
Arie Roos
(PRINCIPAL)
Aldes Longtom
Mpumalanga
Mpumalanga
Summary

Well established 3 Star Guest lodge with 146 beds

3 star Guest Lodge with 146 beds
SELLING PRICE AFS
R 17,050,000* ZAR
Stock: R0
Assets: R0
R 198,401 ZAR
Summary

Well established 3 Star Guest lodge with 146 beds

To gain access to more business info
please supply us with your details below

Fully describe the business's activities?
145 bed accommodation with variable options , Restaurant , Conference facilities , Event venue and caravan park 3 Star rating

How long has the business been established?
Since November 1986

How long has the owner had the business?
Since April 1999

Profitability ?
There is a strong turn-around in the profitability during the last financial year

How does the business operate on a daily basis?
The owner and staff are daily involved with the admin / reception / housekeeping / maintenance / restaurant and preparations for events like conferences and weddings

How are the clients attracted to the business?
Word of Mouth Internet searches Visible location - well known landmark in Town

What Advertising/Marketing is carried out?
Website / Where to Stay / LekkerSlaap / Safari Now / Rooms for Africa / Trip advisor / SA Venues

Does the business have any contract work?
Vendor number at Mining Houses

What competition exists?
Other Guest houses and B&Bs in town Other Restaurants is town

What are the seasonal trends?
Not seasonal

Is the business VAT Registered?
Yes

What VAT documentation is on file?
Yes

Are there up-to-date Management Accounts available?
Yes

What Balance Sheet and Income Statements are available?
2016 / 7 financial statements The 2018 statements will be available on request soon

What percentage of the business is cash/credit?
Mostly cash and small % on 30 days credit

What is the age analysis of the debtors book?
Only a small amount on 30 days

How could the profitability of the business be improved?
Marketing , BBEEE involvement , further development of land , selling of portions of un-used land , More focus should be given to corporate events , conferences and functions

Is Seller finance available and for what amount?
Yes , will be negotiated a 70% deposit and a down payment will be considered

What is the total staff complement?
16 plus owner and his wife

Give a breakdown of staff/ functions/ length of service?
See attachment

Do any receive special perks or incentives?
Yes , like meals and accommodation

Are they on contract?
Yes

Do any have management potential?
Yes

How involved is the Owner in running the business?
Overseeing the management and operations on a daily basis

When does the current lease end?
No lease - owned by seller

Is there an option of renewal & what period?
n/a

What is the annual escalation %?
n/a

What are the trading hours?
7 day / week 24 Hours standby assistance Reception 7h30 - 21h30

What is the square meters of the business?
See attachment

Who is the Owner/Landlord?
The seller is owning the property

Is a copy of the lease available?
n/a

Do you require a licence?
Liquor license , Tourism Grading Counsel SA , SAMRO , SAMPRA , Local Trading Concent license

What lease deposit and/or other surety is required?
n/a

What part of the property is used by the seller ?
The seller staying in a luxury house on the property . The "" rental "" value of this house is counted back to the profitability of the Lodge There is also a other house that is used by relatives

What are the main assets of the business?
Land , buildings and movable assets

Are any items not included in the sale?
Personal items of seller - the contense of 2 private houses on the property will not be included . The seller will specify it with the buyer

What is their overall condition?
Generally very good

Do any require repairing?
Standard maintenance on a ongoing basis

How have they been valued ?
Fixed assets - Estimate based on Bank and Insurance figures and 2012 valuation by professional valuator Movable - Market value

Which assets are on lease/HP and with whom?
Currently none

What are their settlement amounts?
n/a

Will Seller settle or Buyer to take over?
n/a

Are copies of agreements available?
n/a

Are they presently insured?
n/a

Strengths?
Highly visible - close to CBD and direct access for main road Well established - 34 years Well maintained facilities Vendor numbers at mines Diversified business income

Weaknesses?
Weak and insufficient marketing Owner has lost a bit of focus because of his other business venture

Opportunities?
Growth in town ( Mining ) BBEEE partnership will increase the turnover Additional land available for development ( Life Style Estate / Retirement Village )

Threats?
The currant volatile economic climate Other smaller B&Bs and Guest houses

What is the reason for the sale?
The seller's children are grown up and left town The seller has another business venture nationally that he wants to grow from Gauteng

Why is this a good business?
This is a well established lodge with a good steady income over the years . The good location and additional land offers further growth opportunities This business survived the economic downturn due to good management and a healthy cash flow From the 2017/18 Financial Statements you will see that there is a strong upturn in the turnover and profits from the previous 2 years

What is the price plus stock and the net profit?
All inclusive selling nett price @ R 17 050 000

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FRANCHISE DETAILS

Aldes Longtom

2 members
10 active mandates
Mpumalanga
31 Fourie Street
1120

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