Fully describe the business's activities?
The business is a hardware store and is part of the Essential Hardware buying group which enables them as an independant hardware business to enjoy excellent pricing and discounts from suppliers
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
The business operates with a small staff of 4 plus the owner and his wife who open and close the business on a daily basis
How are the clients attracted to the business?
They advertise in a local magazine, but it is mostly by word of mouth combined with great service
What Advertising/Marketing is carried out?
Local magazine and occasional sponsorships for local events
Does the business have any contract work?
No, just regular repeat business
What competition exists?
There is no competition in the area they are in.
What are the seasonal trends?
Busiest seasons are Xmas, easter and holidays
Is the business VAT Registered?
No (being applied for)
Are there up-to-date Management Accounts available?
Management accounts to September 2018
What Balance Sheet and Income Statements are available?
The accountant will be preparing financial statements to October 2018 (year end)
What percentage of the business is cash/credit?
38% on account the balance cash/credit cards
What is the age analysis of the debtors book?
The debtors all pay by the end of the same month
How could the profitability of the business be improved?
Just carry on the same model as the current owners with turnover increasing as the surrounding population grows
Is Seller finance available and for what amount?
What is the total staff complement?
Besides the owner and his wife there are four staff and a casual employed occasionally
Give a breakdown of staff/ functions/ length of service?
The staff consist of a manager, cashier and two general assistants
Do any receive special perks or incentives?
The staff get discretionary bonuses from time to time depending on the businesses profitability
Are they on contract?
Do any have management potential?
Not known as the owner is always there
How involved is the Owner in running the business?
When does the current lease end?
The sellers own the property and would like to sell it separately
Is there an option of renewal & what period?
What is the annual escalation %?
What are the trading hours?
08h00 to 17h00 M-F Sat 08h00 to 14h00, plus the manager stays on the property and will if necessary open on a Sunday for specific customers
What is the square meters of the business?
Property under roof is 400 square metres plus parking area and builders yard
Who is the Owner/Landlord?
The seller owns the property
Is a copy of the lease available?
Do you require a licence?
What lease deposit and/or other surety is required?
What are the main assets of the business?
The main assets of the business are:- Shelving & racking R200k TLB Loader R125k Forklift R150k Flatbed truck R180k Tipper truck R180k 2 CCTV systems Alarm
Are any items not included in the sale?
Everything is included except and office table and laptop, the property is available for sale at R1 950 000 as a separate transaction
What is their overall condition?
Good working order
Do any require repairing?
How have they been valued ?
Which assets are on lease/HP and with whom?
What are their settlement amounts?
Will Seller settle or Buyer to take over?
Are they presently insured?
Well stocked hardware shop in an affluent and growing area, with no local competition
As the business has grown the owners have done everything themselves, they recommend employing an admin assistant
Great opportunity to take over a well run profitable with good growth potential
What is the reason for the sale?
The owners children have moved overseas and they would like to move closer
Why is this a good business?
Excellent business in affluent area well run and profitable with no competition in the area
What is the price plus stock and the net profit?
The business is selling at R3.5 million plus stock of approximately R2.6 million netting over R140k per month. PLEASE NOTE THE OWNERS ALSO WISH TO SELL THE PROPERTY AT THE SAME TIME FOR AN ADDITIONAL R1.95 MILLION
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