Fully describe the business's activities?
This is an established business that focusses on gate and garage door automation, installations and repairs. Other services offered include electric fence installations and repairs and intercom installations.
How long has the business been established?
Established in 2014 as a small Appliance Repair company and then focussing on gate and garage door automation, installations and repairs.
How long has the owner had the business?
The owner started the business
How does the business operate on a daily basis?
The business is owner run on a daily basis and the owner is fully involved with the business and the customers. The business requires a technically minded individual, however experience with Gates and garages, etc. is not required as there are many courses provided by the the suppliers and the seller will also assist with training up the purchaser as part of the hand over.
How are the clients attracted to the business?
Word of mouth and then extensive use of the internet using Google SEO and Adwords, 18% of clients are repeat clients
What Advertising/Marketing is carried out?
Primarily online marketing through various websites using Google SEO and adwords
Does the business have any contract work?
What competition exists?
As with any industry there are many competitors offering similar services. The difference in what this business offers is in a better system, more organized, more accurate and faster response to client requirements. Especially regarding web, phone and email queries. They have a strong presence on Google - both organically where their websites often ranks on the first page during client searches - as well as well-run Google advertising
What are the seasonal trends?
Holiday periods are still busy. Main loss of business occurs due to public holidays because the business is closed and that income is not made up.
Is the business VAT Registered?
No, the sellers recognise that the business needs to become Vat registered and point out that there is ample room to increase the prices not only to cover the Vat component but also for a general increase as they are probably priced too low at his stage and will in any case look at implementing a price increase
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
Yes - Current
What Balance Sheet and Income Statements are available?
2016 (Eight Months) and 2017
What percentage of the business is cash/credit?
All the income of the business is basically through EFT and the bank account, there are no debtors
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
There are a variety of options to improve the profitability ranging from increased marketing effort and expansion into new areas for existing services. Intercom repairs and installations are already being done but not being advertised and pushed as they should. Expansion of the services offered such as building and/or installation of new gates, repair of gate tracks and other small construction work sometimes required, Electric Fencing, Alarms and other security systems, CCTV Cameras (already branching into this area), Security lighting, Boom Gates, Provision of maintenance contracts for complexes and businesses. Consider extending the business hours and/or offer after hours and weekend services Service more areas. Currently are already increasing pricing.
Is Seller finance available and for what amount?
What is the total staff complement?
There are five staff members other than the owner
Give a breakdown of staff/ functions/ length of service?
1 x Receptionist 2 x Lead technicians 2 x Assistants
Do any receive special perks or incentives?
Monthly bonuses paid according to performance
Are they on contract?
Four are permanent with contract and one is temporary/probation
How involved is the Owner in running the business?
Owner is 100% involved in the running of their business however the business only requires one person to run it.
When does the current lease end?
Business is run from home
What are the trading hours?
Do you require a licence?
What are the main assets of the business?
Are any items not included in the sale?
As per asset list and the following is specifically excluded 1 x HP Laptop (for PABX hardware) = R6,500 1 x GOIP PABX = R5,070 (pricing new from www.wantitall.co.za)
What is their overall condition?
Are they presently insured?
Good systems & communication with clients. Good marketing position on Google both organically and with advertising
Ability to deal with larger number of jobs because the company is still small.
Expand number of services and service a larger area. CCTV, alarms, manufacturing etc.
There are continuous changes in marketing opportunities online and it is always very important to keep up to date.
What is the reason for the sale?
The seller is positioning themselves to emigrate
Why is this a good business?
The business has serviced over 2300 clients in 3 years. With increased marketing efforts and increased service areas there will continue to be a demand for a company that delivers great service in the gate, garage, electric fence, cctv and alarm industries. They continue to deliver the best technical information and service available
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Annual Turnover Amount between R 500 thousand and R 6 million