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Annual turnover

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  • Mandate: 31884
  • Added: 22 Feb 2018
  • AFS
  • 636

Haberdashery shop in KZN Midlands

KwaZulu-Natal, KwaZulu-Natal Midlands
636
Mandate 31884
Added 22 Feb 2018
R 195,000* ZAR
Stock: R 20,000
Assets: R 71,440
R 14,780 ZAR
John Londal
Aldes Accolade
KwaZulu-Natal
KwaZulu-Natal
Summary

Retail shop in the KZN Midlands that sells haberdashery, yarns, local hand made items such as costume jewellery, wooden homeware, small decor items and hand knitted merchandise.

Haberdashery shop in KZN Midlands
SELLING PRICE AFS
R 195,000* ZAR
Stock: R20,000
Assets: R71,440
R 14,780 ZAR
Summary

Retail shop in the KZN Midlands that sells haberdashery, yarns, local hand made items such as costume jewellery, wooden homeware, small decor items and hand knitted merchandise.

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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?
3 Years

How long has the owner had the business?
2 years

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?
None

Does the business have any contract work?
No

What competition exists?
None

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?
No

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?
No

What is the payback period?
13 months

Who is the bookkeeper/Accountant?
Management accounts are prepared by the Owner.

What is the total staff complement?
1

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?
No

Are they on contract?
No

Do any have management potential?
Yes

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?
October 2018

Is there an option of renewal & what period?
Yes, for 12 to 24 months.

What is the annual escalation %?
6%

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?
No

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?
Very good

Do any require repairing?
No

How have they been valued ?
By the Owner

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

Are they presently insured?
Yes

Strengths?
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.

Weaknesses?
The lady Owner does not spend sufficient time in the shop.

Opportunities?
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.

Threats?
None perceived

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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FRANCHISE DETAILS

Aldes Accolade

1 members
8 active mandates
KwaZulu-Natal
15 St Michaels Road, Winterskloof
3245

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