Fully describe the business's activities?
Retailer of School Clothing and sole supplier of sport uniforms to the school. The business operates one hour in the mornings and two hours in the afternoons and one Saturday a month, the current owner is there in the mornings and the staff member in the afternoons, however if you have the time you could dispense with the staff member and retain the cost of R100 per hour, two hours per day for yourself. This is a fantastic opportunity to acquire a nice low risk business as there is a contract in place with the school that should the uniform change the business has six months to sell old stock and any stock left at the end of the period will be bought by the school at cost. A similar agreement is in place should the school terminate the agreement that they will buy the stock from the business at cost! Please note that the seller is registered for VAT and if the Purchaser of this business is not VAT registered and does not wish to voluntarily register for VAT then VAT will have to be charged on the purchase price!
How long has the business been established?
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 staff run with owner oversight
How are the clients attracted to the business?
The shop is on the school premises
What Advertising/Marketing is carried out?
Placement of an advert in the school diary In October and November a 15% discount is offered to new scholars (i.e. grade 8)
Does the business have any contract work?
No, but the shop has a contract with the school to operate on the premises as well as being the sole supplier of sports uniforms
What competition exists?
On the school uniform side their are various competitors such as Pep, Ackermans, Woolworths, etc. especially for the normal Grey and White boys clothes.
What are the seasonal trends?
Depending on the season it will be Summer Uniforms and Sports clothing or Winter Uniforms and Sports Clothing
Is the business VAT Registered?
Yes, as part of a group but the only this shop is available as part of the offer.
What VAT documentation is on file?
Is part of the group and incorporated in the group.
Are there up-to-date Management Accounts available?
Yes specifically for this business
What Balance Sheet and Income Statements are available?
Incorporated into the larger group
What percentage of the business is cash/credit?
Only sell on credit to the school (coaches)
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
Additional hours, adding additional services such as embroidery and selling of 2nd hand clothing, etc.
Is Seller finance available and for what amount?
What is the total staff complement?
One staff member
Give a breakdown of staff/ functions/ length of service?
Started Aug 2017, on contract and paid hourly, cashier and shop assistant
Do any receive special perks or incentives?
Are they on contract?
Yes, hourly paid for hours worked only
How involved is the Owner in running the business?
When does the current lease end?
Is there an option of renewal & what period?
Contract with the school in place
What are the trading hours?
07:00 to 08:00 and 14:00 to 16:00 Monday to Friday One Saturday a month
What are the main assets of the business?
Full asset list is on file
Are any items not included in the sale?
Yes, only as per the asset list
What is their overall condition?
Fine as mostly consists of shelving
Do any require repairing?
No, ongoing repairs and maintenance performed as required
How have they been valued ?
Depreciated at cost
Which assets are on lease/HP and with whom?
Are they presently insured?
Shop is based on the school premises and has a captive market Only three hours per day Closed during the school holidays
Closed during the school holidays
Additional services and products can be offered, e.g embroidery which is currently outsourced
What is the reason for the sale?
Seller wishes to concentrate on a private school they are also currently servicing
Why is this a good business?
Are the sole supplier of the schools sports uniforms and would ideally suit a parent as they would then also have the school holidays off when the children are on holiday.
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Annual Turnover Amount between R 500 thousand and R 6 million