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Annual turnover

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  • Mandate: 32246
  • Added: 13 Jul 2018
  • AFS
  • 266

Skin and hair care franchise Springs

Gauteng, Johannesburg
266
Mandate 32246
Added 13 Jul 2018
R 1,132,000* ZAR
Stock: R 182,000
Assets: R 750,000
R 40,011 ZAR
Chris Fyfe
(PRINCIPAL)
Aldes Masters
Gauteng
Summary

Located in Springs, in a very large mall, this business was established in 2017 with assistance of the franchisor. The business is very much a skin care clinic, including nail and hair. The store was established for more than the asking price and the seller is looking to head back to full time employment. Can only consider cash buyers or buyers with 100% security if funded.

Skin and hair care franchise Springs
SELLING PRICE AFS
R 1,132,000* ZAR
Stock: R182,000
Assets: R750,000
R 40,011 ZAR
Summary

Located in Springs, in a very large mall, this business was established in 2017 with assistance of the franchisor. The business is very much a skin care clinic, including nail and hair. The store was established for more than the asking price and the seller is looking to head back to full time employment. Can only consider cash buyers or buyers with 100% security if funded.

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Fully describe the business's activities?
Skin care clinic, including aesthetics, nail salon and full hair salon.

How long has the business been established?
1 year

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

How does the business operate on a daily basis?
Operates with the assistance of the staff and owner.

How are the clients attracted to the business?
Facebook, Head Office marketing and promotion and unique skin care offerings.

What Advertising/Marketing is carried out?
Franchise advertising, bespoke promotions and social media.

Does the business have any contract work?
No.

What competition exists?
One other competitor in the mall.

What are the seasonal trends?
Varies, but mainly towards year end.

Is the business VAT Registered?
Yes.

What VAT documentation is on file?
Can be provided for due diligence.

Are there up-to-date Management Accounts available?
No.

What Balance Sheet and Income Statements are available?
Feb 2018

What percentage of the business is cash/credit?
No credit, mainly cash and some speed point.

How could the profitability of the business be improved?
Store promotions, additional marketing. Getting into untapped markets, like youth parties, pamper days etc.

Is Seller finance available and for what amount?
No.

What is the total staff complement?
10

Give a breakdown of staff/ functions/ length of service?
3 Hairstylists 3 Therapists 2 Nail technicians 1 Receptionist

Do any receive special perks or incentives?
Commission and monthly incentives.

Are they on contract?
Permanent employees.

Do any have management potential?
Yes, 1 Therapist, acts as manager. 3 other potential candidates.

How involved is the Owner in running the business?
Daily, however is self sufficient for daily operation.

When does the current lease end?
March 2020.

Is there an option of renewal & what period?
Yes 3 years.

What is the annual escalation %?
8%

What are the trading hours?
Monday to Saturday 9am to 6pm Sunday 9am to 5pm.

What is the square meters of the business?
102

Do you require a licence?
No.

What lease deposit and/or other surety is required?
R100k

What are the main assets of the business?
As per asset list.

Are any items not included in the sale?
All items included on asset list. Alma laser machine.

What is their overall condition?
Still new.

Do any require repairing?
No.

How have they been valued ?
Estimated market value.

Which assets are on lease/HP and with whom?
AFT laser machine, but to be excluded.

What are their settlement amounts?
To be advised.

Will Seller settle or Buyer to take over?
Included in price.

Are they presently insured?
Yes.

Strengths?
Well known franchise with support and national footprint. Located in large mall with only once other competitor.

Weaknesses?
Will require owner to constantly drive marketing and business. Long hours of trade.

Opportunities?
Required hands on owner to drive the business and market. The new owner will need to get into operations outside the norm, align with wedding functions or planners, offer kitchen teas or pamper days, kids parties.

Threats?
Rental of R46k and franchise joining fee of R100k

What is the reason for the sale?
Owner heading back to full time employment. Also resides some distance from store.

Why is this a good business?
Will require hands on operator who drives the business through good marketing. Selling price below setup cost.

What is the price plus stock and the net profit?
R950k ex stock.

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FRANCHISE DETAILS

Aldes Masters

2 members
14 active mandates
Gauteng
32 Third Rd, Bardene
1459

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