Is the business VAT Registered?
Yes - All Vat documentation will be made available to qualified buyers.
Are there up-to-date Management Accounts available?
Up to date Management Accounts are produced the following month & WILL SHOW MONTHLY VARIATIONS, while this Report shows annualised & averaged figures.
What Balance Sheet and Income Statements are available?
Previous years AFS including 2017/18 are available, although they have been re-constituted for this Report, to indicate " income/costs " that will be applicable to a new owner ( due to other business/personal expenses within the acc's).
The Sale Price of R1.59m, is on the back of a turnover of some R 2.6m pa providing an excellent Net Profit of R1.1m pa (inclusive of owners benefits, but with other income not included in the valuation process, ie an add-on that can be discussed with the Seller). All eft's (R2.452m)/cash (R141 000)are documented as are statements from the 2 major suppliers, to prove this Report's outcome. Replacement costs for equipment are inflated to cover new owner desired purchases.
What percentage of the business is cash/credit?
The business is strictly cash - via EFT's or cash. A 50% deposit is taken on booking of a function & the balance on arrival at the function or via EFT on the function day.
How could the profitability of the business be improved?
The Seller has other business interests & has not driven the business to maximise its potential. He is comfortable with the current level of activity, which suits his lifestyle, but there is scope for growing the business significantly. The Seller sold a similar business 5 years ago in Gauteng & the purchaser increased turnover by more than 25 % over the following 2 years - that Purchaser is available as a reference in respect of this Seller & the Dbn business opportunity.