Fully describe the business's activities?
Picture framing and general framing of any art, photos, certificates or other memrobelia. Part and partial for this business is that they also have an art gallery exhibiting different local artists work and art pieces.
How long has the business been established?
The business was established in 1993.
How long has the owner had the business?
The current owner took over the business in 2007.
How does the business operate on a daily basis?
The owner has a very loyal a skilled team working with her. Some have been with the business for more than 15 years and all of them know what their role and responsibility is. There are 2 employees handling all client requests and assisting with the sales process.
How are the clients attracted to the business?
The business is well-known in the industry for doing high quality framing and attracted a lot of regular clients and new clients are usually referrals.
What Advertising/Marketing is carried out?
The owners currently do not have a proactive marketing strategy. They have a website for online marketing and they will do some advertising and marketing in the surrounding schools and churches.
Does the business have any contract work?
What competition exists?
There are about 2 smaller framing businesses in the area. The owner does not see these businesses as competition as they are very small and owner run and can not handle major projects or "rush" work.
What are the seasonal trends?
The business income are very stable and the only seasonal trend which can be picked up from the figures are in December when the business closes for the holidays. The business is usually closed for about 3 weeks.
Is the business VAT Registered?
Yes the business is a VAT-Vendor.
What VAT documentation is on file?
All VAT documentation are on file with the accountant.
Are there up-to-date Management Accounts available?
Yes Aldes has the past 5 years management accounts available for a qualified buyer
What percentage of the business is cash/credit?
Most of the payments are via EFT or card payments. The business works on a 50% deposit before work is started and balance gets paid on collection.
How could the profitability of the business be improved?
The business will definitely benefit from appointing a sales representative to source more work especially from interior designers. There are also an opportunity to host art classes and open a photo studio. A local photographer will be able to add various income streams to the business and would be an ideal buyer for the business.
What is the total staff complement?
8 permanent staff members.
Give a breakdown of staff/ functions/ length of service?
2 x manager/sales 1 x production manager 5 x Manufacturing/Production
Do any receive special perks or incentives?
All staff receive a basic salary and yearend bonuses are paid on owners discretion.
Are they on contract?
All staff have up-to-date employment contracts.
Do any have management potential?
The front of house staff are capable to assist the owner with some managerial duties. They also have a production manager handling all the ordering of stock, quotes and overseeing the production.
How involved is the Owner in running the business?
On weekdays the owners spends some of her mornings at the business, doing administration and payments and will interact and assist clients. The business can continue without intense owner involvement.
When does the current lease end?
The owner currently has a very informal lease arrangement and the Landlord has indicated that he will be willing to negotiate a favourable lease agreement with the new owner.
What are the trading hours?
Weekdays 08:00 - 17:00 Saturdays 08:30 - 13:00
What are the main assets of the business?
The owner has assisted us with a complete asset list for the business that can be provided to a interested buyer.
Are any items not included in the sale?
There are a few antique furniture items which will not form part of the sale.
What is their overall condition?
Everything is in a good working condition and none need repairing. The business has a view high quality equipment which are a great benefit for the business.
How have they been valued ?
The owner has provided us with a value for the assets.
Which assets are on lease/HP and with whom?
Are they presently insured?
The business has full comprehensive insurance.
- High quality services and products; - The business has the capability to handle large quantities of work in a short period of time which is very important in their industry; - Skilled and loyal employees; - Great location
- The business does not have sales representatives sourcing big contracts for the business.
- Signing up artists, photographers and interior designers to frame their work with through the company; - Hosting art classes at the business; - Opportunity to add printing to the business.
- The economy plays a role in this business.
What is the reason for the sale?
The owner would like to focus on spending more time with her family.
Why is this a good business?
The business has stood the test of time and has a great reputation in the industry for proving high quality work. There are great growth potential in the business. The business has loyal, trained and highly skilled staff in the business and a new owner can focus more on marketing and expansion of the current business activities.
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