Fully describe the business's activities?
The business is located in a popular shopping center in an affluent area. They offer dry cleaning, laundry, shoe repairs and tailoring.
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
The manager opens and closes. Clients bring in laundry, dry cleaning, shoes for repairing and tailoring.
How are the clients attracted to the business?
Well known in the area with repeat clients. Sign board in popular mall.
What Advertising/Marketing is carried out?
Does the business have any contract work?
some restaurants bring in their table cloths and overalls.
What competition exists?
Another dry cleaner about 10km away.
What are the seasonal trends?
very stable turnover throughout the year.
Is the business VAT Registered?
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
Management accounts for the year ended June 2018 are on file.
What Balance Sheet and Income Statements are available?
What percentage of the business is cash/credit?
40% swipe and 60% cash
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
offer key cutting
Is Seller finance available and for what amount?
Seller wishes to get his purchase price as he is emigrating.
What is the total staff complement?
2 staff members
Give a breakdown of staff/ functions/ length of service?
1 staff member does alterations and other duties and receive R3,300 per month 1 staff member does laundry and other duties, open and close the shop.
Do any receive special perks or incentives?
Xmas bonus @ R500 as per discretion of the seller.
Are they on contract?
no formal contracts are signed.
Do any have management potential?
How involved is the Owner in running the business?
The owner comes in for an hour per day to do the cash up.
When does the current lease end?
Is there an option of renewal & what period?
5 years with an option to renew
What is the annual escalation %?
What are the trading hours?
Monday to Friday 7am to 6pm Saturdays 8am to 5pm Closed on Sundays
What is the square meters of the business?
Who is the Owner/Landlord?
to be discussed
Is a copy of the lease available?
Yes, to qualified buyers during due diligence
Do you require a licence?
What lease deposit and/or other surety is required?
2 to 3 months base rental to be negotiated with the landlord.
What are the main assets of the business?
Speed Queen washers and dryers, tailoring equipment, shoe repair equipment, railings, cupboards and counter.
Are any items not included in the sale?
All assets are included as listed on the Asset List.
What is their overall condition?
The assets are in good condition.
Do any require repairing?
Regular repairs are being carried out by the owner.
How have they been valued ?
2nd hand replacement values as per the seller
Which assets are on lease/HP and with whom?
All assets are unencumbered.
What are their settlement amounts?
Will Seller settle or Buyer to take over?
Are copies of agreements available?
Are they presently insured?
to be discussed
Easy to manage with little owner involvement. Steady monthly income.
A hands on owner could improve profitability
Do key cutting
No real threats are identified
What is the reason for the sale?
The owner wishes to emigrate.
Why is this a good business?
Well established, located in popular center, long standing clients and steady monthly turnover throughout the year.
What is the price plus stock and the net profit?
R280,000, stock R15,000, average net profit of R13,000 per month.
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