Fully describe the business's activities?
This business provides an essential service in a coastal town with a harbour. They buy and sell new and second hand boats, they repair and service boats and engines, buoyancy and COF certificates, trailer repair and wheel bearings, upholstery redone and they operate a boat accessories shop.
How long has the business been established?
The owner started the business in 2010.
How does the business operate on a daily basis?
One mechanic is responsible for the service and repair of the boat engines and the owner handles the rest of the activities
How are the clients attracted to the business?
Word of mouth and advertisements on gumtree for both the boats for sale and the accessories.
What are the seasonal trends?
They are extremely busy over the December holidays.
Is the business VAT Registered?
What VAT documentation is on file?
All that is required
What Balance Sheet and Income Statements are available?
What percentage of the business is cash/credit?
All is cash. They do not have accounts.
What is the total staff complement?
One mechanic. They use to have one office lady that managed the admin and the buying and selling of the accessories
Do any receive special perks or incentives?
When does the current lease end?
June 2018. Current owner renews the lease annually but landlord would be willing to enter into a five year lease.
What is the annual escalation %?
What are the trading hours?
Monday to Friday 8 - 5
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
Second hand trading license. Current license valid until 2019.
What are the main assets of the business?
Office equipment and workshop machinery
Are any items not included in the sale?
The owners private vehicle that is financed through the business.
What is their overall condition?
Which assets are on lease/HP and with whom?
Are they presently insured?
As the business is situated in a harbour town with many holiday homes they deliver a service that will always be needed and no real competition exists. All systems and procedures of acquiring boats locally and from other town's dealers are in place.
More focused attention can see the business going from strength to strength.
None that can be seen.
What is the reason for the sale?
Owner wants to relocate to Port Elizabeth. He is planning to start a similar business there and that is also the reason for the good pricing of the business.
Why is this a good business?
This business was established eight years ago, it is easy to manage, very profitable and is priced to sell.
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Annual Turnover Amount between R 500 thousand and R 6 million