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  • Mandate: 32550
  • Added: 09 Nov 2018
  • AFS
  • 0

Commercial Diving School

Western Cape,
0
Mandate 32550
Added 09 Nov 2018
R 18,007,000* ZAR
Stock: R 0
Assets: R 10,500,000
R 276,441 ZAR
Walter Schonborn
Aldes Absolute
Western Cape, Villiersdorp
Western Cape, Villiersdorp
Summary

Up to date commercial diving school, registered with Department of Labour, providing training which enables succesful students to be employed both locally and in the global diving industry. Coarses vary from "Class IV-30m SCUBA, Class III-30m SSDE, Class II-50m AIR DIVER and "Supervisor".

SELLING PRICE AFS
R 18,007,000* ZAR
Stock: R0
Assets: R10,500,000
R 276,441 ZAR
Summary

Up to date commercial diving school, registered with Department of Labour, providing training which enables succesful students to be employed both locally and in the global diving industry. Coarses vary from "Class IV-30m SCUBA, Class III-30m SSDE, Class II-50m AIR DIVER and "Supervisor".

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How long has the business been established?
21 Years

How long has the owner had the business?
21 Years

What is the Franchise opportunity about?
BS Diving is privately owned. Not part of a franchise

How does the business operate on a daily basis?
Training of students starts every morning and continue during the day. To train a commercial diver takes up to three months. Different courses are available which require different training procedures.

How are the clients attracted to the business?
By word of mouth Proper web-site Agent in India who attracts students on commission basis.

What Advertising/Marketing is carried out?
Newspaper Internet

Does the business have any contract work?
No

What competition exists?
Four (4) similar businesses in South Africa

What are the seasonal trends?
More training in summer Less training in winter

How is income derived?
Income is derived by charging student fees. A typical course will cost R125 000 (accommodation included) or R113 000 (accommodation excluded) Accommodation is calculated at R4 000 per student per month. Included in the asking price is three well maintained houses which serve as student accommodation.

How does the franchise operate on a daily basis?
A scheduled training program ( depending on the weather) will determine happens every day.

Is the business VAT Registered?
Yes

What VAT documentation is on file?
All documentation required by law

Are there up-to-date Management Accounts available?
Yes

What percentage of the business is cash/credit?
100%

What is the age analysis of the debtors book?
Cash is required before training starts. There is no debtors book.

How could the profitability of the business be improved?
More students can be trained to generate more income. Overheads of the business will not increase with more students. Current intake is 23 students per course. Training ( intake ) capacity is 40 students per course.

Is Seller finance available and for what amount?
No

What is the total staff complement?
7 (seven) staff members

Do any receive special perks or incentives?
No

Do any have management potential?
Business is run by a manager

How involved is the Owner in running the business?
Owner is passionate about the business and is available most of the time.

When does the current lease end?
Lease is with the local MUN for a section of the harbour. The lease will expire in 3 (three) years.

Who is the Owner/Landlord?
Local municipality

Do you require a licence?
Obtained a licence from the Department of Labour. Do not have to renew. There are inspections on a regular basis on equipment and maintenance thereof. International certified training by IMCA (International Marine Contractors Association)

What lease deposit and/or other surety is required?
None

What are the main assets of the business?
The business requires a lot of assets to operate. Movable assets included in the sale are valued by the owner at R7 863 250.00 When calculating the value of the business a reduced value of R3 900 000.00 was used for movable assets. A comprehensive list of the assets is available which includes a deep sea boat , lots of expensive equipment and two vehicles. Also included are 3(three) well maintained houses valued at R6 600 000.00 which are utilised as student accommodation.

What is their overall condition?
Houses are well maintained. Boats and equipment are in a good condition. Maintenance programs are in place and equipment is serviced according schedule.

Do any require repairing?
No

How have they been valued ?
Fixed Property; The 3 ( three ) properties have been valued by a property estate agent at R2 200 000.00 per house. The total for the three houses amounts to R6 600 000.00. Movable Property: All equipment, vehicles and boats etc are valued by the seller for R7 860 000.00 (figure rounded off). When the valuation of the business was done, a reduced figure of R3 900 000.00 was used.

Which assets are on lease/HP and with whom?
None

Are they presently insured?
Yes

Strengths?
The business has a good and longstanding reputation. Based on sound business principals. The management conducts the operation with honesty and integrity. This is a proven, profitable, functional and turn-key operation.

Opportunities?
Increase revenue by attracting more students.

What is the reason for the sale?
Owner wants to retire.

Why is this a good business?
The business is financially sound and has no debt. Business requires high valued assets to operate. Buyer will get all assets at a fair price. This business cannot be duplicated for the same amount as the purchase price. Business is run by a manager with competent staff. There will be continuity with the day to day running of the business after the sale. The owner is prepared to assist to ensure a proper hand over. The business operates mainly on a fixed overhead basis with little variable costs. With this business there is also no "cost of sales". Because the business is operating above break-even point any further increase in revenue will be nett profit. Good situation to be in.

What assets are included in the purchase price?
All assets is included. There is a complete asset list available with values as supplied by the seller.

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