Sectors / Category

Annual turnover

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  • Mandate: 31644
  • Added: 14 Nov 2017
  • AFS
  • 966

Panel beater with spray booth

KwaZulu-Natal, South Coast
966
Mandate 31644
Added 14 Nov 2017
R 330,000* ZAR
Stock: R 0
Assets: R 0
R 4,851 ZAR
Malcolm Keevy
(PRINCIPAL)
Aldes Lower South Coast
KwaZulu-Natal
KwaZulu-Natal
Summary

A thriving independent panel beater on the KZN South Coast for sale. All assets including spray booth included in the sale. Well known brand name in the area. Potential to grow the business.

Panel beater with spray booth
SELLING PRICE AFS
R 330,000* ZAR
Stock: R0
Assets: R0
R 4,851 ZAR
Summary

A thriving independent panel beater on the KZN South Coast for sale. All assets including spray booth included in the sale. Well known brand name in the area. Potential to grow the business.

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Fully describe the business's activities?
An independent panel beater with its own spray booth. The business is approved for insurance work and is registered with and meets the stringent criteria of SAARAA

How long has the business been established?
This business was started in June 2016 but the Magnacorp brand is well established in the motor industry on the South Coast.

How long has the owner had the business?
Since inception in June 2016

How does the business operate on a daily basis?
Clients bring their vehicles in for bodywork repairs, rust removal and spraypainting

How are the clients attracted to the business?
Primarily through word of mouth recommendation from satisfied clients but also through trade referrals

What Advertising/Marketing is carried out?
Social media activity

Does the business have any contract work?
No contract work but continuous work flow from trade referrals

What competition exists?
There are three large panel beaters on the South Coast who source business from insurance companies

What are the seasonal trends?
January tends to be a quiet month due to the holiday season

Is the business VAT Registered?
The business is not VAT registered

What VAT documentation is on file?
Not applicable

Are there up-to-date Management Accounts available?
Complete set of accounts available for the October to September 2017 period

What Balance Sheet and Income Statements are available?
October to September 2017

What percentage of the business is cash/credit?
100% cash

What is the age analysis of the debtors book?
Not applicable

How could the profitability of the business be improved?
Since the business is the only independent panel beater with a spray booth, the insurance industry represents a significant opportunity The current owner also buys, repairs cars which is an additional profit opportunity

Is Seller finance available and for what amount?
Seller finance is not available

What is the payback period?
32 months when owner benefits are taken into consideration

Who is the bookkeeper/Accountant?
Ms Janine Green ACIS

What is the total staff complement?
One panel beater, one spray painter, two labourers

Give a breakdown of staff/ functions/ length of service?
All have been in the business since June 2016

Do any receive special perks or incentives?
They receive overtime pay when required. Perks are given informally at the discretion of the owner.

Are they on contract?
no

Do any have management potential?
The panel beater could be developed into a manager

How involved is the Owner in running the business?
The owner is totally involved in running the business

When does the current lease end?
December 2018

Is there an option of renewal & what period?
Yes

What is the annual escalation %?
7%

What are the trading hours?
07h30 to 16h30

What is the square meters of the business?
250 sq. metres under cover and a further 50 sq. metres uncovered

Who is the Owner/Landlord?
Hofner Properties

Is a copy of the lease available?
Yes

Do you require a licence?
No

What lease deposit and/or other surety is required?
TBD

What are the main assets of the business?
A spray booth Grinders and polishers Hydraulic lift 3 Compressors Dozer (Straightener) CO2 welder Plasma cutter

Are any items not included in the sale?
Nil

What is their overall condition?
Good

Do any require repairing?
None

How have they been valued ?
Owners best estimate

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

What are their settlement amounts?
Not applicable

Will Seller settle or Buyer to take over?
Included in sale price

Are copies of agreements available?
Not applicable

Are they presently insured?
No

Strengths?
Trade referrals Excellent service reputation Transparent operating style Honesty policy

Weaknesses?
Spray painter will need to be replaced Economic cycle

Opportunities?
Insurance company business Attract a skilled spray painter to replace the incumbent

Threats?
Economy

What is the reason for the sale?
The owner established the business for his son, the spray painter, who is now emigrating

Why is this a good business?
Profitable business with a strong reputation for excellent customer service Trade referrals ensure a constant flow of work The business is approved for insurance work, a significant opportunity not yet tapped

What is the price plus stock and the net profit?
R330 000 No stock is carried due to excellent distribution infrastructure of suppliers

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FRANCHISE DETAILS

Aldes Lower South Coast

2 members
8 active mandates
KwaZulu-Natal
Southbroom
4285

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