Fully describe the business's activities?
This destination business sells and repairs sewing machines, over-lockers and embroidery machines for household and industrial use. They are the dealership for all the major sewing brands such as Singer, Husqvarna, Pfaff and Elna for household machines and then also the industrial brands such as GEMSY, Silver Star and so on. The business shows a significant year on year growth.
How long has the business been established?
The owners established the business 13 years ago.
How does the business operate on a daily basis?
Sewing machines, over-lockers and embroidery machines are sold, technical repairs are conducted, training is provided and training workshops are also conducted from time to time. All relevant sewing paraphernalia such as thread, needles, scissors etc are also sold.
How are the clients attracted to the business?
This business is well established and people from all over the region purchase as well as send machines in for repairs and services. They conduct the guarantee repairs for the manufacturers and as such they provide the shops contact details to the clients. They have a website and a very active Facebook page.
What Advertising/Marketing is carried out?
Besides the Facebook page no active marketing is done.
What competition exists?
Limited competition in the region.
What are the seasonal trends?
None - they close for a week in December
Is the business VAT Registered?
What VAT documentation is on file?
All that is required
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
All financial statements are up to date and will be made available to serious buyers.
What percentage of the business is cash/credit?
All is cash
What is the total staff complement?
The business is owned by a husband and wife team together with a third partner. All three are involved in the business on a full-time basis handling the sales, training and technical work themselves. Two additional employees, a trainee technician and one cleaner, are employed
Do any receive special perks or incentives?
Are they on contract?
Do any have management potential?
How involved is the Owner in running the business?
All three owners involved on a full time basis
When does the current lease end?
Is there an option of renewal & what period?
They only rent on a year to year basis but the landlord will be willing to enter into a three or five year lease with the new owners.
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?
Stock of about R500 000. a delivery vehicle and technical equipment.
Are any items not included in the sale?
What is their overall condition?
Do any require repairing?
Which assets are on lease/HP and with whom?
This is a well established destination shop with all systems and procedures in place. They won the prize for the number one Singer Dealer and the number two Elna dealer in the country. They have an excellent reputation, with record of all clients from the first day. Very profitable business with a monopoly in the area that provides a product and service that addresses a basic need.
The knowledge and expertise resides with the current owners. The new Owner should preferably have a background in the sewing industry or be able to employee staff with the required knowledge.
Internet sales are a huge untapped market. A dedicated internet sales person will be able to significantly increase sales revenue over a relatively short period of time.
No obviously threats can be seen.
What is the reason for the sale?
The owners want to retire.
Why is this a good business?
Opportunity to become involved in a niche market with limited competition whilst addressing a basic need that will always exist.
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Annual Turnover Amount between R 500 thousand and R 6 million