Fully describe the business's activities?
The business specialises in Land Rover spare parts, accessories and the servicing of vehicles on the premises. This includes minor or major repairs of any kind. A number of rebuilds are also undertaken during the course of the year. The business is able to source new and used engines, gearboxes, transfer boxes, differentials and all body and electrical parts. Many of the accessories are manufactured in-house and are manufactured to the highest quality specifications. All replacement parts are fully guaranteed and are mainly imported from reliable overseas suppliers. Local suppliers are also used as and when required. The business also retails within South Africa and those based in African countries to the north.
How long has the business been established?
How long has the owner had the business?
Transfer of Ownership
The Seller ideally would like to sell the business outright but will look at: a) Either staying on in the business for between 3 to 6 months so that the new owner can fully learn all aspects of the business or b) Retain a small percentage shareholding in the company until such time the new investor/co-owner is fully conversant with all aspects of the business.
How does the business operate on a daily basis?
The owner is responsible for all the imports undertaken during the course of the year and also supervises the workshop. His partner is responsible for all the financial affairs of the business, buys all local stocks and also controls all stock held. The Admin clerk receives phone calls and also does the bookings for the vehicles. Completes a check list and also "picks" the parts.
How are the clients attracted to the business?
The business has a very long and established history in the industry so has many repeat clients as well as referral clients.
What Advertising/Marketing is carried out?
They run their own website and use google and Facebook as well.
Does the business have any contract work?
What competition exists?
Other smaller dealerships but they do not offer the same full spectrum of services.
What are the seasonal trends?
The business is busy in general but exceptionally busy before and around holiday breaks for the months of March, June, Oct, Nov and the early parts of Dec as off- road enthusiast make sure their vehicles are serviced and taken care of before making holiday trips during the festive season.
Is the business VAT Registered?
What VAT documentation is on file?
Will be provided to a serious buyer.
Are there up-to-date Management Accounts available?
The figures from March to Aug 2018 have been provided.
What Balance Sheet and Income Statements are available?
AFS as at Feb 2018 has been provided.
What percentage of the business is cash/credit?
Cash 35 % Debtors 6 % Eft's and credit cards 59 %
What is the age analysis of the debtors book?
30 days but involves one client only.
How could the profitability of the business be improved?
Already very profitably run.
Is Seller finance available and for what amount?
What is the total staff complement?
There are 9 staff excluding the owner.
Give a breakdown of staff/ functions/ length of service?
Mechanics 3 General cleaning and wash bay 1 Parts Picker/stripper 1 Admin/bookings/New parts/check list 1 Finances/Local stocks/Stock control 1 1
Do any receive special perks or incentives?
Incentives and bonuses are paid in Dec.
Are they on contract?
Do any have management potential?
The current sales employee.
How involved is the Owner in running the business?
Very involved daily.
When does the current lease end?
A new lease will need to be negotiated for an initial period of 36 months.
Is there an option of renewal & what period?
A further option of 36 months will be considered.
What is the annual escalation %?
Will be negotiated.
What are the trading hours?
Monday to Thursday 7.30 to 17.30 Friday 7.30 to 14.30 and every second Saturday of the new month.
What is the square meters of the business?
The office and workshop area is 550 square meters.
Who is the Owner/Landlord?
Do you require a licence?
What lease deposit and/or other surety is required?
Two months rental deposit.
Property for Sale
The seller owns the estate on which four structures have been built. 2 houses the workshop with offices and a entertainment centre. House 1 Comprises of 3 bedrooms, 2 bathrooms, open plan lounge dinning room and kitchen. The unit has 1 carport(220 meters square). House 2 Comprises of 1 bedroom, 1 bathroom, open plan lounge dinning room and kitchen. The unit has 4 carports(130 meters square) Entertainment building of 200 meters square. One upstairs bedroom, a kitchen and 4 carports with a swimming pool. The business and the entire estate will be available for purchase should the buyer of the business be interested.
What are the main assets of the business?
Various items as per the Assets List made available on the system.
Are any items not included in the sale?
All the listed items are included.
What is their overall condition?
All in good working condition.
Do any require repairing?
How have they been valued ?
Market value as determined by the owner.
Which assets are on lease/HP and with whom?
Are they presently insured?
Very well established and profitable business with a large clientele base.
More Agents could be brought on board.
None perceived at present.
What is the reason for the sale?
The owner wants to emigrate.
What is the price plus stock and the profit?
The selling price is R 8.5 million plus stocks of R 4 million. Additional stock will be available depending on the strength of the buyers cash flow.
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