Sectors / Category

Annual turnover

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  • Mandate: 32097
  • Added: 14 May 2018
  • AFS
  • 345

Well known Entertainment Park for Children offered .

Eastern Cape, Port Elizabeth
345
Mandate 32097
Added 14 May 2018
R 1,710,000* ZAR
Stock: R 60,000
Assets: R 200,000
R 42,765 ZAR
Willem Smuts
(PRINCIPAL)
Aldes Algoa
Eastern Cape
Eastern Cape
Summary

This business is an icon in the entertainment industry in Port Elizabeth. Designed for kids, established for many years, profitable and priced to sell. The Income from operations is in excess of R 500 000 per annum for the year ending 28 February 2017.

Well known Entertainment Park for Children offered .
SELLING PRICE AFS
R 1,710,000* ZAR
Stock: R60,000
Assets: R200,000
R 42,765 ZAR
Summary

This business is an icon in the entertainment industry in Port Elizabeth. Designed for kids, established for many years, profitable and priced to sell. The Income from operations is in excess of R 500 000 per annum for the year ending 28 February 2017.

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Fully describe the business's activities?
An Iconic Entertainment Park for children. Birthday parties, special events and general entertainment book the premises for the function. Date and time is booked and children are equipped for the occasion on arrival.

How long has the business been established?
The business has been going for 12 years.

How long has the owner had the business?
The owners started the business in 2006.

How does the business operate on a daily basis?
Mostly , bookings for groups and arrive anytime from 8.am to 5 pm. There are different packages available and the duration of the game depends on the duration of the package.

How are the clients attracted to the business?
This is a very popular Entertainment Park and the best advertising is by word of mouth. The park does have a website and promotions are made from time to time. flyers and Banners are also used.

What Advertising/Marketing is carried out?
Web site, banners, flyers and periodic promotions.

Does the business have any contract work?
No contract work but many repeat customers.

What competition exists?
Limited competition from other entertainment centers.

What are the seasonal trends?
Bussier in summer, but constant income flow over the remaining months.

Is the business VAT Registered?
Yes, the Business is Vat Registered

What VAT documentation is on file?
All bi-monthly VAT documents as requested by SARS

Are there up-to-date Management Accounts available?
Yes, up to date Management Accounts are available

What Balance Sheet and Income Statements are available?
Annual financial statements to February 2017, 2016, 2015, 2014. Management accounts available for year to 28 February 2018.

What percentage of the business is cash/credit?
The business is 100% cash

Is Seller finance available and for what amount?
Seller Finance is not available.

What is the payback period?
39 Months

What is the ROI?
30% Return on Investment

Who is the bookkeeper/Accountant?
Dirk Myburgh Accounting

What is the total staff complement?
5 Staff members

Give a breakdown of staff/ functions/ length of service?
Operations Managers - started in 2014 (handles stock orders, the hatch , the sales , and marshals when we super busy, and he is a technically minded) Head Marshal- started in 2014 (Head marshal and maintenance guy and rental gun tech) General employee – Maintenance, gun tech , marshal – started in 2017 Tuck shop lady – party time employee on Saturday and Sunday and public holidays and school holidays started end of 2017. Washing lady- works Saturdays only if we busy and does help in the week to catch up on overalls Part time employee 2016. +_ 8 - 10 part time marshals for weekends only : Liam , Logan , Bradley, Tiaan , Lukas, Ratho , Tyler ,William, Brendan and Ruan. Marshals only work weekends depending on busyness and time of the month.

Do any receive special perks or incentives?
No special perks or incentives, but paid in accordance to the requirements of the Sectoral Determination Act

Are they on contract?
All members are on contract.

Do any have management potential?
The Operations Manager has excellent managerial skills.

How involved is the Owner in running the business?
The owner is 80 % involved in the day to day functioning of the business.

When does the current lease end?
TO BE ADVISED Owner will hunt for contract or request copy from Landlord.

Is there an option of renewal & what period?
To renew for five years.

What is the annual escalation %?
10%

What are the trading hours?
Trading hours are from 8 am till 5 pm, but dependent on the time of the bookings.

What is the square meters of the business?
The premises are huge and zoned for Recreational purposes. The size of the premises will be indicated on the lease agreement.

Is a copy of the lease available?
A copy of the lease will be requested from the Landlord.

Do you require a licence?
No licence is required. The park is zoned for Recreational purposes.

What lease deposit and/or other surety is required?
One month's Rental Deposit.

What are the main assets of the business?
The park is divided into various sections and each section has a theme. The business is well equipped with all necessary hardware and containers for storage of the equipment. a complete set of assets is on file.

Are any items not included in the sale?
All items on the list are included in the sale.

What is their overall condition?
Excellent working condition. The business is also equipped to do most of own repairs.

Do any require repairing?
No repairs are required at present. Owners guarantees are equipment will be in excellent working condition on date of take over.

How have they been valued ?
The stock and equipment have been valued at a realistic market related value.

Which assets are on lease/HP and with whom?
No Assets or equipment are subjected to a lease or HP agreement. All equipment and assets are fully settled.

Are they presently insured?
All assets and Equipment are comprehensively insured.

Strengths?
This is a well established and lucrative Entertainment Park. It is well known to the broad public and is an Icon in the Entertainment industry. The business is well managed, properly stocked and the entertainment options are affordable. Known to deliver value for money.

Weaknesses?
Limited competition from other entertainment centers.

Opportunities?
An ideal opportunity to enter the Entertainment business via a well established, well managed, profitable business which is priced to sell.

Threats?
No licenses are required, all markings on trees ,clothing and other obstacles are bio-degradable and harmless to plants and animals. As the area is zoned for Recreational purposes, and all pellets and coloring is bio-degradable, sufficient ablution facilities on site. There are no threats to the business

What is the reason for the sale?
The present owner is young and has been running this busness her whole working life. She wishes to explore other opportunities/

Why is this a good business?
This business is well established, well equipped,profitable and priced to sell.

What is the price plus stock and the net profit?
The price is R1 500 000 plus stock which is estimated at R60 000. a comprehensive stock taking will be done on take over and all stock will be valued at cost.

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FRANCHISE DETAILS

Aldes Algoa

1 members
19 active mandates
Eastern Cape
16 Frykenhuis Street, Summerstrand
6001

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