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  • Mandate: 31973
  • Added: 23 Mar 2018
  • AFS
  • 1255

Well-established supermarket and hardware store in a beautiful country town.

Western Cape, Overberg & Breederiviervallei
1255
Mandate 31973
Added 23 Mar 2018
R 3,850,000* ZAR
Stock: R 880,000
Assets: R 900,000
R 113,660 ZAR
Rodney Willoughby
(PRINCIPAL)
Aldes Overberg
Western Cape
Western Cape
Summary

A well established, profitable supermarket and DIY hardware store offering a country life-style to a hands on owner.

Well-established supermarket and hardware store in a beautiful country town.
SELLING PRICE AFS
R 3,850,000* ZAR
Stock: R880,000
Assets: R900,000
R 113,660 ZAR
Summary

A well established, profitable supermarket and DIY hardware store offering a country life-style to a hands on owner.

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Fully describe the business's activities?
A non-franchised supermarket and DIY hardware store with a small plant hire section.

How long has the business been established?
Approximately 90 years. The business started as a general dealer and has evolved over time into an 'institution' in the town.

How long has the owner had the business?
Since 2013.

How does the business operate on a daily basis?
The business is open daily from 08h00 to 19h00. On Sundays it closes at 13h00.

How are the clients attracted to the business?
Primarily through good service delivery, a wide range of stock, and monthly special offers.

What Advertising/Marketing is carried out?
Pamphlets and fliers, an active Facebook page, and targeted SMS campaigns.

What competition exists?
There is a 'Superette' and a franchised mini market in the town.

What are the seasonal trends?
There is a very solid, regular monthly spend by locals, supplemented by visitors during holidays, particularly December, January and February, as well as a number of long weekend festivals held in the town.

Is the business VAT Registered?
Yes. All returns are up-to-date.

Are there up-to-date Management Accounts available?
Yes.

What Balance Sheet and Income Statements are available?
Monthly management accounts and statutory annual financial statements as required.

What percentage of the business is cash/credit?
90% cash, 10% credit.

Is Seller finance available and for what amount?
No.

What is the total staff complement?
15, with functions in Hot Foods, Shop Floor, Back Office, Tills, supplemented by casual workers in the busy seasons.

Do any receive special perks or incentives?
There is a 'production' bonus scheme in place.

Are they on contract?
Yes, as per Labour Law requirements.

Do any have management potential?
Yes. Will be discussed with buyer.

How involved is the Owner in running the business?
Full time.

When does the current lease end?
There is a 10 year lease in place, with an option for further renewal. The annual escalation is based on CPI.

What is the square meters of the business?
Approximately 700sqm.

Is a copy of the lease available?
Yes.

Do you require a licence?
General trading licence.

What lease deposit and/or other surety is required?
1 month's lease deposit.

What are the main assets of the business?
Fridges, stoves, racking, display units, IT equipment, office furniture etc.

Are any items not included in the sale?
Some personal items. A full asset list will be available.

What is their overall condition?
All in very good working condition.

How have they been valued ?
Owner's estimate of fair second hand value, approximately 50% of replacement cost.

Strengths?
A really good, well established and profitable business. It is very well supported by the local community and is invariably the shop of choice.

Weaknesses?
None perceived.

Opportunities?
Investigate the opportunities provided by joining a supermarket franchise. The plant hire section could be expanded.

Threats?
There are two other stores in town but they do not offer the same range of products and services.

What is the reason for the sale?
The owners have been in the retail business for 26 years and now wish to pursue other business interests.

Why is this a good business?
A well-established business with an exceptional reputation. A profitable cash generator with a steady, loyal clientele. A wonderful working environment and a beautiful country life-style.

What is the price plus stock and the net profit?
The price of the business is R2 970 000 plus stock of R880 000. The annual profit is R1 364 000.

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FRANCHISE DETAILS

Aldes Overberg

1 members
9 active mandates
Western Cape
9 Lower Longmarket Street
7210

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