Fully describe the business's activities?
Sales of haberdashery, yarn, craft kits, local handmade items such as costume jewellery, wooden homeware, small decor items and hand knitted items
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
Shop assistant runs the shop, opens and closes shop, sells and general administration
How are the clients attracted to the business?
Word of mouth and reputation
What Advertising/Marketing is carried out?
Does the business have any contract work?
What competition exists?
What are the seasonal trends?
Easter and Christmas as well as public holidays and days of special events such as Midmar Mile.
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
Yes. The figures in the financial report have been extracted from the management accounts.
What Balance Sheet and Income Statements are available?
None as the business is a sole proprietorship.
What percentage of the business is cash/credit?
100% cash/credit card
How could the profitability of the business be improved?
Owner run and manage the business. Re-introduce a clothing alteration and repair service. Run knitting/sewing/crocheting courses.
Is Seller finance available and for what amount?
What is the payback period?
Who is the bookkeeper/Accountant?
Management accounts are prepared by the Owner.
What is the total staff complement?
Give a breakdown of staff/ functions/ length of service?
Runs and manages the shop daily - 3 months service.
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?
Due to the Owners other business commitments she only spends about 2 days per week in the shop to relieve the shop assistant. However the Owner does all the purchasing and payments and is in constant contact with the shop.
When does the current lease end?
Is there an option of renewal & what period?
Yes, for 12 to 24 months.
What is the annual escalation %?
What are the trading hours?
09:00hrs - 16:00hrs 7 days a week.
What is the square meters of the business?
120 sq mt
Is a copy of the lease available?
A copy of the lease is available to qualified buyers
Do you require a licence?
What are the main assets of the business?
Hanging rails, wool unit casters, cubes on wheels.
Are any items not included in the sale?
Yes, Owner's personal items that will be pointed out to the buyer.
What is their overall condition?
Do any require repairing?
How have they been valued ?
By the Owner
Which assets are on lease/HP and with whom?
Are they presently insured?
Well located in the Midlands with an excellent reputation. It is the only haberdashery shop within approximately 50km radius. Variety of locally made products - there is a movement to buy locally produced merchandise. Some of the hand made merchandise is on consignment so it limits the investment in stock. Open 7 days a week.
The lady Owner does not spend sufficient time in the shop.
Increase turnover and profit by: re-introducing a clothing/repair service, run knitting/crocheting/sewing courses, introduce fun activities for kids on weekends, such as mini-mosaic and sand art.
What is the reason for the sale?
The Lady Owner has become totally involved in her husband's business so is not giving the shop the attention it deserves.
Why is this a good business?
This a a good value for money business purchase with an opportunity to improve turnover and profit by an Owner who dedicates more time and effort in managing the shop.
What is the price plus stock and the net profit?
The price is R175,000 plus stock of R20,000. Profit for 2017 was R177358.
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